As for the long-term vision of the Budget, there are some reassuring messages from the finance minister
The 10 budgets of the Modi government so far were BJP budgets. This is its first coalition budget
Rules for foreign direct investment and overseas investments to be simplified
On the personal income tax front, the Budget brought in some modest tweaks, which should support sentiment and consumption for salaried individuals
The Budget also places emphasis on leveraging the power of women in the workforce
Exemption from BCD on import of certain minerals to be used in strategic sectors such as telecommunication, space, high-tech electronics, etc
This Budget will further energise the aspirations of our neo-middle class. Unprecedented opportunities will be unleashed for our younger generation, says PM Modi
More vocational and technical training is available but over two-third of the working age population has received none
Nine priorities expedite journey towards goal of 'Viksit Bharat', said finance minister
However, speaking to Business Standard immediately after the Budget, Sitharaman said the deviation from the interim Budget was minor, and only one of accent
Budget taxed and spent smartly, more clarity needed on fiscal path
The final report of the 15th Finance Commission had recommended transfer of 41 per cent of central taxes to the states after two Union Territories were carved out of Jammu and Kashmir
The largest source of income for individuals is salaries, but it has grown slowest among income categories
The administration of the income-tax department is in a poor shape today. Taxpayer appeals have piled up for the past five years with zero accountability by the tax department
The budget also announced a new mechanism for facilitating the continuation of bank credit to MSMEs during their stress period
Samajwadi Party president Akhilesh Yadav wondered whether the Budget had anything for UP.
Union Budget 2024-25: Emphasis on employment, skilling, and MSMEs, but no tax relief for the middle class
Union Budget 2024: PM Modi made the remarks about the Budget hours after Finance Minister Nirmala Sitharaman made her presentation in the Lok Sabha
The Union Budget will help drive consumption, especially from rural areas, with its special focus on agricultural schemes and rural development, FMCG industry leaders said. Terming the measures announced in the budget "positive , HUL CEO and MD Rohit Jawa said investment in infrastructure will have multi-year effect and help drive consumption. "The new announcements today, increasing the investment rural development, investment activities supporting urban poor, the schemes for youth, employment, especially skilling, are quite positive, especially for business like ours that serves consumers," said Jawa during an earning calls on Tuesday. "These investments will have multi-year effect in driving consumers to spend more in consumption, that, in turn, of course drive the economy for its value," he said adding these are right set of announcements and the focus of the budget is mass consumption. Parle Products Vice President Marketing Mayank Shah said initiatives announced in the budget
MeitY runs multiple incentive schemes and programmes in areas such as semiconductor manufacturing and design, electronics manufacturing, and the India AI Mission, among others