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What does Middle-Income Group, Families & Women expect from Interim Budget 2024?

Families
Make housing more affordable & exemption in health insurance

“We dream of buying a house this year. We are already hit by the increase in rates across loans provided by banks after the RBI hiked the repo rate for five times in the year 2022. Following covid-19, we all know the importance of health insurance. Looking at the current scenario, where health insurance has played a major role in the pandemic, Section 80D limit should be increased from Rs 25,000 to Rs 75,000 at least.”
Devyaani Hada with her husband Rahul Sharma and daughter Amayra Sharma

Tax exemption on Housing & Savings should be hiked!
With pic –indoriya family
We expect two things for the middle-income group. First is a tax exemption on housings. Government supports lower-income group by providing housing and high-income group can afford housing easily. However, middle-income group like ours faces a big problem as loans continue to hike interest rate and government doesn’t provide much exemption. Another thing is… we like to save money for our future. It’s the only way. Hence, we hope that government will announce an increase in the tax exemption limit on savings accounts under Section 80TTA of the Income Tax.”
Deepmala Indoriya with her mother Muniya Devi Indoriya

Housing & Savings our our basic needs… so exempt them
“As a middle-income group, it’s much tougher for us to get any benefits from government. So, we hope that government will consider our needs too in this budget. First, we hope that the government will give us some exemptions on home loans, so that we can also afford to have our house. The least, we hope for is tax incentives to home loan under Section 24(b) of the Income Tax Act. The act has provisions for buyers to claim interest deduction up to INR 2 lakh. We, as home buyers, expect this limit to be increased up to INR 5 lakh. Further, some exemptions on savings account would genuinely help us in staying afloat with rising inflation.”
Seema Soni and her son Jatin

Women
Reduce GST on every-day items
“Women's only expectation from the upcoming interim budget is that the GST rates on everyday items like domestic gas should be reduced and the income tax exemption given to women should be reduced. Women should be given special reservation and loans at low interest rates so that they can earn more. More women could progress in their field of work and bring glory to this country.”
Shreshtha Goyal
Businesswoman

Support & Fund Women Healthcare
"It is essential to allocate adequate funding to support women's healthcare, access to contraception, and maternal healthcare. Investments should be made in promoting gender equality in the workforce, such as creating opportunities for women in male-dominated fields and closing the gender pay gap. Education is another area that requires attention, with funds directed towards providing equal access to quality education for all girls and women. By prioritising these areas and ensuring appropriate funding, we can create a more inclusive and equitable society for women in 2024 and beyond.”
Dr Maithili Tambe
Educationist

Focus on remote areas & training
“Budget must be focus on betterment of underprivileged and remote areas
1. hospital and medical facilities must b looked after in remotely situated area better facilities for (pregnancy )women and child care
2. More transport connection to remote area for development
3. Emphasis on skill training for girls
4. To increase woman safety and security”
Swati Upudi
Entrepreneur

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