India’s Union Budget 2024 Tax Reforms Will Attract Investors

The Union Budget 2024, proposed by India’s Finance Minister Ms. Nirmala Sitharaman on July 23, unveils an ambitious vision for a ‘Viksit Bharat,’ or ‘Developed India.’ The latest budget has ushered in significant reforms in both direct and indirect taxation, with notable changes affecting corporate and non-corporate tax rates alike. This article examines the proposal, highlighting the implications for international investors and businesses engaged with India and exploring the potential for sustained economic growth.

With a strong emphasis on reducing social inequalities, the budget prioritizes key areas such as employment, skilling, support for MSMEs (Micro, Small & Medium Enterprises), ...