The Union Budget 2024-25 allocates Rs 2,19,643 crore to the Ministry of Home Affairs. Of this, Rs 1,43,275 crore is designated for central police forces like the CRPF, BSF, and CISF, focusing on internal security and border guarding. Allocations include Rs 42,277 crore for Jammu and Kashmir, Rs 5,985 crore for Andaman and Nicobar Islands, Rs 5,862 crore for Chandigarh, and Rs 5,958 crore for Ladakh. Additionally, Rs 1,248 crore is set for the Union Cabinet, and Rs 6,458 crore for disaster management and state grants.
In the Union Budget 2024-25, the Centre has allocated Rs 951.46 crore to the Central Bureau of Investigation (CBI), a slight decrease of 1.79% from the previous fiscal year’s Rs 968.86 crore. This allocation supports the agency's establishment-related expenses and includes funding for modernization projects such as upgrading training centers, establishing technical and forensic support units, and acquiring land for new office and residence buildings. The CBI is responsible for investigating corruption... Читать дальше...
Shares of housing finance companies dropped post-budget as FM Sitharaman announced 3 crore more houses under the PM Awas Yojana. Analysts see positive impact on sector despite initial market reaction.
We started with no expectations in terms of changes in capital gains and therefore, this small increase in capital gains tax is definitely not welcome. And the other thing is, there are some uncertainties regarding the buyback tax. Obviously, STT has got increased. I am hoping that it is only for speculative transactions, not for delivery transactions, because the whole purpose of STT was in lieu of capital gains tax.
Union Budget: Prime Minister Narendra Modi announced on Tuesday that the Union Budget presented by Nirmala Sitharaman aims to empower all sections of society. Modi emphasized that the measures introduced will create numerous new opportunities for young people.
Finance ministers Nirmala Sitharaman, announcing the fund in her budget speech noted the government emphasis on expanding the Indian space economy by five times over the next decade. It will be worth $13 billion by 2025, according to the government’s investment promotion agency Invest India.
Bihar temple tourism in Budget 2024: Budget 2024 sacred places in Bihar
Public sector banks will take a lead in developing a new credit assessment model on the basis of digital footprints of MSMEs, the FM had said in the budget.
With Finance Minister Nirmala Sitharaman proposing LTCG and STCG tax hikes, the rupee fell to 83.69/$1, breaking its previous low, and opened at 83.64/$1. Stocks dropped 0.8%, while Anil Bhansali suggested possible RBI intervention.
The Union Budget 2024-25 increased customs duty on specified telecom equipment to 15%, causing significant stock declines and a 497.22-point drop in Sensex. HFCL, Vodafone Idea, and others dipped, while Kavveri Telecom, Shyam Telecom, and Indus Towers gained. Critical minerals were exempt to help strategic sectors.
The NCP (SP) criticized the Union Budget presented by Finance Minister Nirmala Sitharaman, alleging that it primarily benefits NDA allies in the states of Bihar and Andhra Pradesh, neglecting Maharashtra. The Party's spokesperson Clyde Crasto accused the government of prioritizing certain states to maintain political support, suggesting that the budget was tailored to prevent the NDA government from collapsing.
Budget 2023 raised TCS on most foreign remittances under LRS to 20%. The initial implementation was met with criticism and a delay. Now, TCS applies only if remittances exceed Rs 7 lakh per year, with exceptions for education (0.5% or 5% TCS) and medical treatment (5% TCS). Travel package remittances up to Rs 7 lakh attract 5% TCS, with 20% above that. International credit cards are exempt from LRS and TCS.
The government proposes to cut custom duties on Trastuzumab Deruxtecan, Osimertinib and Durvalumab from 10 per cent to nil. Finance Minister Nirmala Sitharaman also proposed changes in the basic customs duty (BCD) on x-ray tubes and flat panel detectors for use in medical x-ray machines under the phased manufacturing programme, so as to synchronise them with domestic capacity addition.
Seafood exports from India are rising rapidly and the Union Budget has made provisions for this to grow, and also become big in the domestic market.
The Union government proposed Bhu-Aadhaar for rural areas and digitisation of urban land records within three years. Finance Minister Nirmala Sitharaman announced state collaboration for land administration and planning reforms, including digitising cadastral maps, sub-division surveys, and linking to the farmers registry. An IT-based system for property and tax administration will be implemented. An economic policy framework aims to boost employment and economic growth through improved productivity. Читать дальше...
On the technical charts, the 200-day moving average of the stock stood at Rs 317.82.
The budget also extends the period for exporting goods imported for repairs from six months to one year. Additionally, the time-limit for re-importing goods for repairs under warranty is increased from three years to five years.
Vijay Kedia, MD of Kedia Securities, discussed the 12.5% LTCG tax, SEBI’s speculation curbing, and hike in STT . He finds these changes reasonable and expects market corrections. The initial reaction settled quickly, suggesting market acceptance. Short-term holdings minimize the impact, while Budget clarity and ongoing corrections are expected. He says these were bound to come.
Section 87A tax rebate in Budget 2024: The finance minister Nirmala Sitharaman has not made any changes in tax rebate amount available under Section 87A of the Income-tax Act. Both the new and old tax regimes will continue to have same amount of tax rebates. Read on to know the latest tax rebates amount available under both the tax regimes.
The Relative Strength Index of the stock stood at 48.32 on Tuesday.
Finance Minister Nirmala Sitharaman's budget proposal includes a significant allocation of Rs 1.48 lakh crore towards education, employment, and skilling initiatives, underscoring the government's commitment to enhancing educational opportunities and fostering employment through industry-specific skills training.
SpiceJet aims to raise 30 billion rupees through securities for institutional investors to restore operations amid India's aviation growth. Facing quarterly losses, market share fell to 4.2% in June, below Akasa Air’s 4.7%. Competitors like IndiGo expand fleets. With 1.87 billion rupees cash, shares rose 7%. Regulatory challenges and lessors' deregistration requests persist.