Page 27 - Budget 2024

Pre-Budget talks: Industry bodies suggest tax reforms to revenue secy

The PHDCCI said that the slab of 30 per cent income tax should be raised to the income of Rs 40 lakh and above. Below this, the body said, the tax rate should be kept at 20-25 per cent

Union Budget 2024: No likely cut in fuel prices, PMAY allotment may rise

The Union Budget 2024 is expected to be announced in the third week of July. Finance Minister Nirmala Sitharaman to hold pre-budget meeting on June 20

CCEA to hold first meeting post-2024 elections on June 19: Explained

CCEA explained: What is the committee on economic affairs and its relevance ahead of the 2024 Union budget presentation

Budget 2024: Continuity in more ways than one in FM's seventh Budget

Will there be tax breaks in the Union Budget 2024? Will there be welfare? Will there be fiscal consolidation? Budget Watch keeps a tab

Budget 2024: Subsidies likely to remain same, rural funding may rise

The Budget is anticipated to be unveiled in the third week of July. The NDA 3.0 administration might strengthen specific welfare-oriented schemes, prioritising fiscal prudence

Budget 2024-25 likely to retain FY25 fiscal deficit target of 5.1%

Record RBI dividend may guide likely focus on capex, special package

Budget 2024: Will the govt provide income tax relief to salaried class?

A report by a leading national-daily claim the upcoming Budget for FY25 may emphasise tax reductions for low-income earners rather than increasing welfare expenditures

Union Budget 2024: Nirmala Sitharaman to hold pre-budget meeting on June 20

Finance Minister Nirmala Sitharaman will hold a pre-budget consultation with industry stakeholders on June 20. Here's what to expect

I-T relief for those in lowest slab may be considered in Budget: CII

Income tax relief for the people in the lowest slab may need to be considered in the upcoming full Budget for 2024-25 considering the high levels of inflation, according to newly-elected CII President Sanjiv Puri. In an interview with PTI, he also suggested creation of an institutional platform for consensus building between the Centre and states to successfully carry out all reforms, including those related to land, labour, power and agriculture. The industry body also said it does not see compulsions of coalition politics hampering the reforms in the third term of Prime Minister Narendra Modi. In stead, it believes that the performance of Indian economy and the success of policies in the previous two stints would set the base to accelerate the process. "Broadly, I would say at this point of time it is public capex, adherence to fiscal glidepath, roadmap for investment in the social infrastructure, green fund and greater investment in the rural sector. These are the broad ...

Case for reforms validated by past experience: CII President Sanjiv Puri

India is growing at a time when most economies are under stress, Puri said

FM Sitharaman to hold pre-budget meeting with industry chambers on Jun 20

Finance Minister Nirmala Sitharaman is likely to hold pre-budget consultations with industry chambers on June 20, sources said. The budget for 2024-25 fiscal is likely to be presented in Parliament in the second half of July. Industry sources said the pre-budget consultation with Sitharaman would be preceded by a meeting with Revenue Secretary Sanjay Malhotra on June 18. The 2024-25 Budget is likely to lay out Modi 3.0 government's economic agenda. The finance minister will have to look at measures to boost growth without hurting inflation as well as look for resources to meet the coalition government's compulsion. The economic agenda would include steps to fast-rack reforms to make India a USD 5-trillion economy in near future and turn the country into a 'Viksit Bharat' by 2047. The Indian economy is projected to grow 7.2 per cent in the current fiscal on the back of improving rural demand and moderating inflation, as per RBI estimates. The Modi 3.0 government inherits a strong

FM Nirmala Sitharaman to set new record with 7th consecutive Union Budget

With the interim budget presented on February 1 of this year, Sitharaman equalled Morarji Desai's record of six consecutive budgets

Budget 2024: FinMin seeks views on tax rates, laws for reducing litigation

The Finance Ministry has invited suggestions on direct and indirect taxes and changes in laws to reduce compliances for the 2024-25 Budget from trade and industry associations. The suggestions are to be sent to the ministry by June 17 and the full budget for 2024-25 is expected to be presented in Parliament in the second half of July. The suggestions could include changes in the duty structure, rates and ideas on broadening of tax base on both direct and indirect taxes giving economic justification for the same, as per the ministry. For changes in customs and excise duties, the trade and industry would have to supplement and justify their demand with relevant statistical information about production, prices, and revenue implication of the changes suggested. The request for correction of inverted duty structure would have to be supported by value addition at each stage of manufacturing of the commodity. With regard to direct taxes, the ministry said the suggestions could be also on

FAME-III likely to be released on Budget day with Rs 10,000 crore outlay

The FAME scheme was initially launched in 2015 with a budget of Rs 5,172 crore, and FAME-II was introduced in 2019 with Rs 10,000 crore in budgetary support, ending March 31, 2024