Finance minister Nirmala Sitharaman said the TDS for ecommerce operators for certain payments to “ecommerce participants” will be cut from 1% earlier to 0.1% now. The move would provide “substantial working capital relief for micro, small, and medium enterprises (MSMEs),” a spokesperson for Amazon India told ET.
Gravita India, EMS, TBZ, Sonam Clock and Indian Hume Pipe, hit their fresh 52-week highs during the day.
The NSE Nifty index closed 30.21 points down at 24479.05
Budget announcements: The government on Tuesday announced the abolition of the angel tax for all investor classes, which is a huge relief for companies
BREAKING: Union Budget for 2024-25 keeps cigarette prices stable! Smokers rejoice as taxes remain unchanged. Analysts predict positive impact on tobacco industry. ITC reports decline in legal cigarette consumption in India. Will this lead to a shift in tobacco consumption habits?
Coca-Cola raised its annual organic sales and profit forecasts on Tuesday, signaling consumers are willing to spend more for the beverage giant's higher-priced sodas, energy drinks and juices mainly in international markets.
The 30-share BSE Sensex closed down 73.04 points at 80429.04
Nirmala Sitharaman announced Bharat Small Reactors aiming for 500 GW renewable energy by 2031. These 300 MW, factory-built reactors, adding 15,700 MW, are cost-effective, safer, and generate less waste. This supports India’s clean energy push with added wind and solar, following global trends.
The allocated funds for the city's police force will be used for routine expenses as well as for various schemes to be implemented by the Delhi Police such as developing a model traffic system and communication networks in the NCR region. Finance Minister Nirmala Sitharaman on Tuesday presented the Union Budget for 2024-25 in Parliament.
The Indian government has proposed a budget allocation of Rs 1.28 lakh crore for telecom projects and public sector firms, with a majority of funds earmarked for state-owned BSNL. The total net allocation is Rs 1,28,915.43 crore, with an additional Rs 17,000 crore for schemes like Compensation to Telecom Service Providers, Bharatnet, and Research and Development.
The Supreme Court ruled against a retest for NEET-UG, citing no evidence of systemic breach in results' sanctity. This was followed by the IIT Delhi panel's confirmation that option 4 was the correct answer to a disputed question. Analysis of released marks suggested centers with alleged irregularities had poorer performance, prompting the court to scrutinise the situation further as aspirants await a final decision on the exam's fate.
In the Nifty pack, 23 stocks closed in the green, while 27 stocks ended in the red.
Union budget 2024-25- With Assam grappling with several waves of floods every year Union Finance Minister Nirmala Sitharaman in the budget 2024-25 announced that assistance will be provided to Assam for flood management and related projects
The reaction of the street to the increase in both short and long capital gains tax is stronger because it was not expected by any section of the market. Specially, mid caps segment which has been sitting on big gains is the one which is facing more cuts. Today and for may be for some more time this increase would impact the sentiment, but in the long term it is the economy and earning which matters to the street. Now the question is whether the budget is a step in the right direction when it comes to the economy. Читать дальше...
Union Budget 2024-25 exempts customs duties on lithium and cobalt. Extends concessional customs duty on Li-Ion cells till March 2026, removes 2% e-transaction levy. SIAM, ACMA, Deloitte's Rajat Mahajan, Hero MotoCorp, Ashok Leyland, Mercedes-Benz India, and TVS Motor laud the budget for boosting EVs, infrastructure, and sustainability.
The 30-share BSE Sensex closed down 73.04 points at 80429.04
Finance minister Nirmala Sitharaman presented the Union Budget 2024 on Tuesday and announced a slew of initiatives to aid the growth trajectory of startups and small businesses. Sitharaman announced the long-awaited repeal of angel tax and certain financial instruments in the context of long-term capital gains.
The 2024 Union Budget waives import duties on critical minerals like lithium to support the EV industry, potentially reducing battery costs and promoting sustainable transportation. However, industry leaders stress the need to lower GST on EV components to further enhance affordability and adoption rates. The budget also highlights significant investment in job creation and infrastructure.
The Nifty Pharma index closed 0.55 per cent up at 20755.35.
The company is yet to finalize the amount of its upcoming interim dividend for the financial year 2024-25, pending approval. This will be its second interim dividend for the fiscal year, following an earlier payout of Rs 11. In the previous calendar year, the company distributed three interim dividends Rs 11 in December 2023, Rs 18.50 in May 2023, and Rs 20.50 in February 2023.
Energy sector players praise Union Budget for FY25, citing it as a catalyst for Indian solar industry growth. Key announcements include tax cuts on critical minerals, support for pumped storage projects, and policy clarity for energy transition. Education sector also sees significant funding allocation for quality improvement and skill development.
The government's 2024-25 Budget reflects a 7.8% reduction in subsidies for food, fertiliser, and fuel, with total allocation at Rs 3,81,175 crore, aligning with earlier estimates. Food subsidy is set at Rs 2,05,250 crore, fertiliser subsidy at Rs 1,64,000 crore, and petroleum subsidy, mainly for LPG, at Rs 11,925 crore. This move balances fiscal prudence with welfare measures, benefitting millions of individuals.
Finance Minister Nirmala Sitharaman, after presenting Budget 2024, stated that no final decision has been made on discontinuing the old income tax regime. She emphasized the goal of simplifying the tax system but noted that any changes will follow a comprehensive review. Over two-thirds of taxpayers have adopted the new regime, which offers lower rates but fewer exemptions.
