As the anticipation builds for the forthcoming interim budget ahead of the 2024 Lok Sabha elections, the experts at GanikOne, a trusted financial advisory firm, engage in a candid and insightful café conversation. Mr. Aditya Gopinath V, Mr. Y Bhanu Prakash, and Ms. Akshita Surana, seasoned consultants in taxation, finance, and corporate law respectively, delve into the nuances of what to expect from this crucial fiscal event.

In this exclusive dialogue, our consultants shed light on critial focal points including taxation, social welfare, infrastructure, and corporate compliances. With their collective expertise and astute analysis, they provide valuable insights into the possible measures the government might undertake to navigate the delicate balance between populist demands and fiscal prudence.

Join us as we uncover the intricacies of the upcoming interim budget and its significance for businesses, investors, and the economy at large. Stay tuned for a dynamic exchange of ideas and perspectives in our upcoming blog post, where the experts at GanikOne offer their unique take on the budgetary landscape

In a cozy corner of their favourite café, Our consultants at GanikOne, gather for their routine coffee session on Sunday evening. Aditya, Bhanu, and Akshita, distinguished professionals in the fields of taxation, finance, and corporate law respectively, engage in a spirited discussion about the eagerly awaited interim budget.

Aditya: Evening everyone. Have you all been following the buzz around the upcoming interim budget?

Bhanu: Absolutely, it's that time of the year again. But considering it's an interim budget before the elections, I wonder how much room there is for substantial policy changes.

Akshita: True, Bhanu. I expect it'll be more about maintaining the status quo and maybe some populist moves to sway voter sentiments.

Aditya: Agreed. The focus will likely be on continuity, ensuring essential services keep running until the new government steps in.

Aditya flips through the paper, pausing at an article on taxation.

Aditya: Here's something interesting. The speculation on taxation seems to suggest minor tweaks rather than any major overhauls. Perhaps some adjustments to income tax slabs to appeal to certain demographics.

Bhanu: With the Lok Sabha elections around the corner, it makes sense. They'd want to sweeten the deal for certain voter segments.

Akshita: And I bet we'll see a lot of emphasis on social welfare schemes. The PM-Kisan Nidhi, Ayushman Bharat—these are likely to see increased allocations.

Akshita glances at her notes, jotting down a few points.

Akshita: Speaking of sectors, I've been looking into the expectations for industries like real estate and healthcare. There's a lot riding on infrastructure spending and healthcare allocations.

Bhanu: Definitely. And let's not forget about the MSMEs. They're always a hot topic, especially in the lead-up to elections. Any predictions on what we might see for them?

Aditya: Well, going by past trends, I'd say we could expect some measures to ease compliance burdens and maybe even a push for digital adoption among MSMEs.

Bhanu: That sounds plausible. Especially with the emphasis on 'ease of doing business' being a recurring theme.

Akshita: And considering the recent discussions on inheritance tax, it'll be interesting to see if there's any mention of that in the budget. It's a topic that's been gaining traction lately.

Aditya: Indeed. While India currently doesn't have an inheritance tax, there's been some debate on whether it should be reintroduced. But that might be a bit too ambitious for an interim budget.

Bhanu: Agreed. Let's see how it all unfolds. But one thing's for sure, this budget will set the tone for the road ahead, especially in the context of economic stability and populist measures.

Akshita: Absolutely. Well, we'll find out soon enough. Until then, let's keep our ears to the ground and our coffee cups full.

Aditya: Before we wrap up, I wanted to touch upon the discussions surrounding the Long Term Capital Gains Tax on Equity Shares. There's been a lot of speculation about its potential removal, but realistically speaking, it seems unlikely given the trend in most developed economies.

Bhanu: That's a valid point, Aditya. While many investors are hopeful for a change in this area, governments often rely on such taxes for revenue generation and maintaining economic stability.

Akshita: Absolutely. And considering the current fiscal landscape, the government may prioritize revenue streams, making significant changes to the LTCG tax a distant possibility.

Aditya: Agreed. It's definitely an area worth keeping an eye on, but for now, it seems we'll have to manage our expectations.

Bhanu: Well said. Let's continue monitoring the developments and see how it unfolds in the budget announcement.

Note: This conversation aims to capture the essence of the blog post while presenting it as a lively discussion among professionals, each offering insights from their respective areas of expertise. As consultants at GanikOne, Aditya, Bhanu, and Akshita provide valuable perspectives on the potential implications of the upcoming interim budget.