Tag #Interest Rate Cut

What are the immediate economic impacts of India's 2024 budget, specifically concerning tax cuts and their effect on consumption and government revenue?

India's 2024 budget aims to boost consumption by cutting taxes for those earning up to \$13,694 annually, impacting 10 million taxpayers and creating a \$11 billion revenue shortfall. This is in response to slowing urban consumption due to inflation and stagnant wages, impacting major corporations like Hindustan Unilever and Maruti Suzuki.