Page 7 - Budget 2024

UK businesses, investors community receive Union Budget with enthusiasm

The Union Budget tabled by Finance Minister Nirmala Sitharaman in the Lok Sabha on Tuesday has been received with much enthusiasm within the UK business and investor community, with the fall in the Corporate Tax rate for foreign companies from 40 to 35 per cent and the abolition of the "Angel Tax" among the stand-out proposals. Announcements by the minister on India's fiscal deficit being on a downward trajectory, estimated at 4.9 per cent of GDP for this financial year, were among the aspects that experts feel would help boost foreign investor sentiment towards the economy. The country clocking an 8.2 per cent growth in the previous financial year and efforts to create jobs and enhance skills were among the other key highlights for UK business and industry. Overall, I would say it's a positive Budget for the Indian economy. There have been some really positive measures, particularly on infrastructure and supporting the agricultural economy, said Anuj Chande, Partner and Head of the

Budget 2024: Minority affairs ministry's allocation increases by Rs 574 cr

The budgetary allocation for the Ministry of Minority Affairs has increased by Rs 574.31 crore to Rs 3,183.24 crore for 2024-25 as against the revised estimate of Rs 2,608.93 crore in 2023-24. Union Finance Minister Nirmala Sitharaman presented the Budget for 2024-25, her seventh straight presentation, surpassing the record of former prime minister Morarji Desai. This was the first budget of Prime Minister Narendra Modi-led government's third term in office. The budget allocation for the ministry was Rs 3,097.60 in 2023-24. However, the revised estimate was Rs 2,608.93, according to official documents. The budget estimate for the Ministry of Minority Affairs this year is Rs 3,183.24. Of the proposed allocation for the ministry, Rs 1,575.72 crore is for education empowerment. The allocation for Pre-Matric Scholarship for Minorities is Rs 326.16 crore and for Post-Matric Scholarship for Minorities is Rs 1,145.38 crore. A total provision of Rs 2,120.72 crore has been made for the ma

ITC hits Rs 500: Jefferies says 'Buy' on no tobacco tax rejig in Budget

ITC share price target: ITC stock hits Rs 500-mark for the first time. Jefferies upgrades stock to 'Buy', Macquarie initiates with 'Outperform'

Budget 2024: Child rights orgs hail National Pension Scheme for minors

Child rights organisations hailed the Union Budget 2024-25 for introducing pension scheme for minors, increased allocations for child health, nutrition and education, and highlighted its potential to promote early financial planning for a stable future. They said these developments, including the National Pension Scheme for Minors (NPS Vatsalya), were significant steps towards ensuring the long-term financial security and well-being of children across the nation. Sudarshan Suchi, CEO of Bal Raksha Bharat, appluaded the forward-thinking nature of the initiative. However, Suchi said there were challenges in amplifying awareness and accessibility of the scheme, particularly in remote or underprivileged areas. The scheme's effectiveness will depend on the returns generated by investments, and parents will need assurance of adequate returns to meet future needs, he added. Puja Marwaha, CEO of Child Rights and You (CRY), provides a broader analysis of the Union Budget, which allocates Rs

Union Budget 2024-25: Propelling India's evolution into 'Viksit Bharat'

With the objective of ease of doing business and in line with recent Goods and Services Tax (GST) council recommendations, various proposals have been introduced under GST

Union Budget 2024: Beginning of remarkable direct tax reforms by Modi 3.0

Income tax changes in Budget 2024: On the personal income-tax front, the tax slab rates have been rationalised only under the new tax regime

'Budget 2024 aligns perfectly with our vision to elevate cricket in Bihar'

Bihar Cricket Association president said the Union Budget set to develop sports infrastructure in Bihar

Naidu taken for right royal ride: Congress on Budget allocation to Andhra

The Congress on Tuesday took a swipe at TDP chief N Chandrababu Naidu, saying he quit the NDA in 2018 due to the Centre's failure to grant special category status to Andhra Pradesh and six years later when the government is reliant on his MPs, all he has managed to get is a "special financial support" for Amaravati. The government on Tuesday announced a series of measures for Andhra Pradesh, including arranging Rs 15,000 crore this fiscal and in future years for the development of the capital city of the state. Presenting Union Budget 2024-25, Finance Minister Nirmala Sitharaman said the government will also facilitate special financial support for the development of the capital city. Reacting to the development, Congress general secretary in-charge communications Jairam Ramesh said, "In 2018, Chandrababu Naidu garu quit the NDA because of the non-biological PM's failure to grant Andhra Pradesh Special Category Status. "Six years after the drama, at a time when the Government is ..

Budget 2024: Well-defined, well-responsible Budget, says Usispf Ceo Aghi

Describing the maiden budget of Modi 3.0 as a very well defined and responsible budget, the head of a India-centric American business and strategic advocacy group on Tuesday said that it would help in attracting more foreign direct investment and propel India's growth story. I think (it is) a very well-defined budget, a very well-responsible budget. We compliment the prime minister and the finance minister for delivering their budget, Mukesh Aghi, president and CEO of US India Strategic and Partnership Forum (USISPF) told PTI in an interview. When you look at the preliminary analysis of the budget, one thing is the budget is focused on job creation, is focused on skilling and is focused on attracting FDI into the country, he said responding to a question on the annual budget presented by Finance Minister Nirmala Sitharaman in the Parliament on Tuesday. When you look at incentives for the first-time workers, guaranteed one month's salary, that's an important part. The budget is focus

Budget 2024: Abolition of angel tax a landmark reform, says Usispf

The abolition of the angel tax across all investor classes marks a landmark reform benefiting India's startup ecosystem, the US India Strategic and Partnership Forum (USISPF) said Tuesday and applauded the proposal in the Union budget to reduce tax rates for the foreign companies to 35 per cent. India has long been a country of engineering and tech talent, yet there have been gaps in the innovation ecosystem. The abolition of the angel tax across all investor classes marks a landmark reform benefiting India's startup ecosystem. This important reform will stimulate increased startup funding from both domestic and international sources, the US India Strategic and Partnership Forum (USISPF) said. Applauding the decision to reduce tax rates for the foreign companies to 35 per cent, the USISPF said this action creates parity between domestic and foreign players and will be an important boost for global investors seeking to shift their international supply chains away from China. At the .

Encouraged by Budget's focus to increase integration into GVCs: USIBC

Encouraged by the budget on measures to increase integration into global value chains, the US India Business Council on Tuesday lauded the ambitious Union Budget as a key step in strengthening its global leadership in the Indo-Pacific and across the world. USIBC is eager to work closely with the Government of India to help it realize the full potential of Viksit Bharat, and we laud the Government's ambitious Union Budget 2024 as a key step in strengthening its global leadership in the Indo-Pacific and across the world as well as ushering new opportunities for partnership and collaboration between the United States and India, the world's oldest and largest democracies, USIBC president Atul Keshap said. Several of the budget's economic measures are likely to have important strategic impact in areas of shared priority between India and the US where USIBC has been a key partner to both governments, he said. Abolishing the angel tax clears an obstacle to ever closer bilateral technology

Selling your house? Budget 2024 may have increased your tax burden

Budget 2024 removes indexation benefit for property sales, increasing capital gains tax.

Budget 2024 took away property indexation: Gainers, losers, tax calculation

Mumbai and the National Capital Region (NCR) are likely to be hit the most by Budget 2024 property indexation benefit loss, said analysts at CLSA in a note

Market outlook July 24: GIFT Nifty hints tepid start post Budget volatility

All you need to know before the market opens today: Q1 results, post Budget reactions to guide trading sentiment for the Sensex and Nifty as global markets seem directionless. 2 new listings today.

Union Budget 2024-25: Some boost for agriculture and rural economy

India spends only 0.4% of agri GDP on R&D and it is far below the levels in China, Brazil, and Israel

Budget 2024: FM Nirmala Sitharaman unveils road map for 'Viksit Bharat'

The government's focus on employment and skilling is at the heart of this ambitious plan

FM Nirmala Sitharaman's Budget 2024 lays ground for further reforms

The abolition of Angel Tax for all classes of investors provides a fillip to the innovation ecosystem and entrepreneurs

Union Budget 2024: Future-oriented and focused on green mobility

The growth-focused budget signals a clear intent to strengthen the economy, which will result in a stronger middle class, whose aspirations will be a key driver of growth for the automotive industry

Budget 2024: Setting the stage for India's sustained economic growth

The budget had a strong focus on employment generation with measures including a wage incentive for first-time employees entering the formal sector

Union Budget 2024: An embodiment of reform, perform, and transform

The key highlight of the budget is the government's steadfast dedication to fiscal prudence