Page 41 - Nirmala Sitharaman

Open to feedback on tax changes but... read FinMin latest remark on Budget

Union Finance Minister Nirmala Sitharaman's recent remark follows feedback from several experts and salaried individuals who feel that the Budget did not provide sufficient relief to the middle class

Niti Aayog meeting faces boycott from opposition leaders over budget woes

Chief ministers from Tamil Nadu, Himachal Pradesh, Karnataka, Telangana, Punjab, Jharkhand, and Kerala will be skipping the Niti Aayog meeting

Union Budget 2024-25 serves a strategic blueprint for Viksit Bharat

The Budget underscores the importance of environmental sustainability

Budget frontlines: 'Agnipath' driving shift in spending patterns

The government says that going by the baseline of the Budget for FY24, the current allocation amounts to a 4.72 per cent rise over the previous year's allocation

Job schemes not a mandate, but a nudge to firms, says FM Sitharaman

The finance minister said the private sector shouldn't feel the pressure as it is not mandatory

Explained: Is the Budget 2024 helping you get a job?

Is the Budget 2024 helping you get a job? Whether you’re a student, a working woman, or a skilled labourer, find out what the Union Budget has in store for job seekers and students.

First draft of new I-T law to be prepared by tax dept panel: Revenue Secy

The first draft of a new simplified income tax law, as proposed in the Budget, will be prepared by an internal committee of the tax department and will undertake stakeholder consultation before finalising the legislation, Revenue Secretary Sanjay Malhotra said on Thursday. Malhotra said that the exercise is not linked to bringing a new direct taxes code, but a comprehensive review of the income tax law. Finance Minister Nirmala Sitharaman in her Budget speech earlier this week announced that a comprehensive review of the Income-tax Act, 1961 will be completed in six months. "The purpose is to make the Act concise, lucid, easy to read and understand. This will reduce disputes and litigation, thereby providing tax certainty to the taxpayers. It will also bring down the demand embroiled in litigation," Sitharaman said. To a question whether the review would mean that the government will come with a direct tax code, Malhotra said "It is not a new direct tax code... It is a comprehensiv

Decoded: What is Agristack system? How will it benefit agriculture sector?

In her Union Budget speech, Nirmala Sitharaman announced the Agristack DPI while adding that it will bring over six crore farmers under the formal land registry system

'Vision-setting Budget for Viksit Bharat 2047,' says FM Sitharaman

Finance Minister spoke on issues ranging from the private sector's role in job creation to coalition needs in making Budgets, at her North Block office

Budget 2024: FM Sitharaman continues with push for spiritual tourism

The government will also start a comprehensive development initiative for the city of Rajgir in Bihar, which holds immense religious significance for Hindus, Buddhists and Jains

Congress CMs to boycott NITI Aayog meet over 'discriminatory' 2024 Budget

Union Budget 2024: Siddaramaiah (Karnataka), Revanth Reddy (Telangana), Sukhvinder Sukhu (Himachal Pradesh) will boycott the NITI Aayog meeting on July 27

Brokerages on board with Budget but for capital gains tax curveball

As markets sift the Budget's fine print, they'll also monitor Q1 earnings, monsoon trends, and global factors

Opposition MPs stage walkout to protest Union Budget 2024 in Parliament

Finance Minister Nirmala Sitharaman responds by saying it was not feasible to mention every state in the Budget

Union Budget 2024: How did the opposition react to the Budget

The ruling BJP leaders heaped praises on Finance Minister Nirmala Sitharaman after she presented the “futuristic” Union Budget 2024-25 in the Parliament.

LTCG tax changes to benefit most real estate investors: Revenue secy

Revenue Secretary Sanjay Malhotra on Wednesday said the changes in Long-Term Capital Gain Tax (LTCG) announced in the Budget by Finance Minister Nirmala Sitharaman will benefit most of the people investing in the real estate sector. The Budget has lowered the LTCG from 20 per cent to 12.5 per cent but removed the indexation benefits. The indexation benefit allowed taxpayers to compute gains arising out of the sale of capital assets after adjusting inflation. The proposal has raised apprehensions that a person selling his property will have to pay a higher capital gain tax. "This is mostly a simplification exercise. Some people have expressed apprehension on the removal of indexation. I want to allay their concerns that while indexation has been removed at the same time the tax rates have been substantially reduced from 20 pc to 12.5 pc. This will benefit most of the people investing in real estate in the long term as the rate of return is more than 10-11 per cent," Malhotra told PT

Budget 2024: What is the 'Purvodaya' scheme announced by FM Sitharaman?

Finance Minister Nirmala Sitharaman during her Budget 20204 speech unveiled 'Purvodaya' plan, focusing on human resource development, infrastructure, and economic opportunities in the eastern region

Budget pinches homebuyers, earns praise of real estate developers

The Union Budget 2024-25 has left homebuyers disappointed, as it did not address concerns like high interest rates on home loans and the annual increase in stamp duty charges, while real estate developers lauded the Budget. Apartment Owners Associations in Noida and Greater Noida in the national capital region believe revoking indexation benefits in property deals will be a big setback for homebuyers. "This budget has left homebuyers disappointed, with no specific provisions or reliefs offered for them. Despite the high interest rates on home loans and the annual increase in stamp duty charges, the budget did not address these concerns," said Abhishek Kumar, president of Noida Extension Flat Owners Welfare Association (NEFOWA). Noida along with Greater Noida adjoining Delhi in the national capital region has thousands of distressed homebuyers and stuck housing projects. Rajiva Singh, president of Noida Federation of Apartment Owners Association (NOFAA) believed the budget revoking

Budget 2024: FM Nirmala Sitharaman hikes higher education funding by 8%

Union Budget 2024: Finance Minister Nirmala Sitharaman allocated Rs 47,619 crore for the higher education sector under the Ministry of Education

Budget 2024: Customs duty hike to increase costs for 4G, 5G network rollout

Union Budget 2024: The increase in basic customs duty on printed circuit board assemblies from 10% to 15% can help create a robust telecom equipment manufacturing ecosystem in India

Budget 2024: Freshers to get one month's free salary. Check eligibility

Budget 2024: As part of the Centre's employment-linked incentive scheme, first-time employees in the formal sector will be offered one month's salary as subsidy up to Rs 15,000