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The India Consumer Pulse

Pre-Budget Expectations vs. Post-Budget Realities (2024)

Did the Budget Live Up to Expectations?

The Indian Union Budget 2024 was a significant event, sparking anticipation and sparking questions among consumers and businesses alike. Aroscop conducted pre- and post-budget surveys to capture the pulse of the nation. This report unveils the key findings, revealing the disconnect between expectations and initial reactions.

Pre-Budget Dreams:

  • Tax Relief: A significant portion (56%) of respondents yearned for an increase in the Section 80C limit, a popular tax-saving avenue.
  • Higher Tax-Free Limit: Interestingly, 65% believed an increase in the tax-free income limit from INR 7 Lakhs to be the most likely change.
  • Language Divide: A curious difference emerged between Hindi and English-speaking respondents. While the Section 80C limit increase remained a top wish for both, Hindi speakers also held hopes for a broader tax slab revision (23%).

Post-Budget Realities:

  • Mixed Bag: While some announcements resonated with respondents, concerns lingered.
  • Infrastructure Focus: The "commodity-wise economic rail corridor" initiative was noted by 35%, signifying the perceived importance of infrastructure development.
  • Startup Support: The loan announcement for "sunrise domains" garnered favor with 38%, indicating optimism for fostering innovation.
  • Social Welfare: Existing programs like Ayushman Bharat (healthcare) remained popular, garnering 33% support.
  • Tax Neutrality: Interestingly, 35% of respondents supported the retention of existing tax rates, suggesting a cautious approach.
  • Budgetary Blues: Despite some positive highlights, a significant portion (43%) expressed concerns about the budget's impact on their daily lives. Even more concerning, over 45% anticipated negative consequence

Get the full picture. Download the report now!

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