Budget 2024: The Indian government is expected to have more funds for farmers and social sector schemes in the upcoming interim budget, thanks to increased tax buoyancy. The focus will be on addressing issues faced by poorer sections, particularly in rural areas. Income tax and GST collections have been strong, with the total direct tax mop-up likely to exceed budget estimates by about Rs 1 lakh crore. However, there may be a shortfall in excise and customs duties collections.
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