Members of RJD, Congress and the Left had reached the House, carrying placards with slogans like "shame on anti-Bihar BJP". Adding a dash of humour, a few of them also held rattles meant for children to underscore that the Centre, after having denied the state its due, was offering a "jhunjhuna" by speaking of special package and other types of help.
For employment and skilling, the FM announced the Prime Minister's pet schemes and initiatives for 4.1 crore youth over a 5-year period with a central outlay of Rs 2 lakh crore. This year, the financial minister has made a provision of Rs 1.48 lakh crore for education, employment, and skilling.
INDIA-BUDGET/BORROWING (UPDATE 1, PIX)UPDATE 1-INDIA BUDGET-India government cuts gross market borrowings to 14.01 trillion rupees for 2024-25
A total of 59,605 shares changed hands on the counter till 01:24PM (IST)
Swaminathan Aiyar praises Nirmala Sitharaman's budget for reducing fiscal deficit, increasing capex, cutting long-term capital gains tax, and supporting FDI. Despite benefits to the middle class and political satisfaction, it leaves labor laws and pollution issues unaddressed. Aiyar gives it a 7 out of 10, noting the absence of Manmohan Singh-like policy changes.
As part of the labour related reforms, Finance Minister Nirmala Sitharaman said a comprehensive integration of e-shram portal with other portals will facilitate such a one-stop solution to provide a wide array of services to labour, including those for employment and skilling.
Finance Minister Nirmala Sitharaman's Budget disappoints EV industry with no specific measures announced. Uncertainty looms over FAME scheme as sector hoped for support.
Finance Minister Nirmala Sitharaman, in Tuesday's Union Budget, urged states to lower high stamp duty rates for women’s property purchases, making it an urban scheme component. Also, quoting Aadhaar numbers, instead of Enrolment IDs, for taxes was proposed. These essential reforms aim to improve property transactions and ensure financial relief, highlighting the Finance Minister's vision for transparency.
Budget 2024: Union Finance Minister Nirmala Sitharaman proposed to discontinue quoting Aadhaar Enrolment ID in place of Aadhaar number on Tuesday. This announcement was made during the presentation of the Union Budget 2024-25.
The budget 2024 announced the removal of indexation benefit available on sale of property. Prior to the announcement the long term capital gains arising from sale of property was taxed at 20% within indexation benefit.
A total of 911,579 shares changed hands on the counter till 01:19PM (IST).
India’s Union Budget 2024-25 sets the stage for a sustainable energy transformation. Key initiatives include partnerships for nuclear energy advancements, the PM Surya Ghar Muft Bijli Yojana for household solar power, and a new Pumped Storage Policy for renewable integration. Public sector collaborations will drive advanced power plants, and a Critical Mineral Mission will secure essential resources. This comprehensive strategy aims to balance growth, employment, and environmental sustainability... Читать дальше...
Finance Minister Nirmala Sitharaman proposed raising the securities transaction tax (STT) on futures and options (F&O) to deter retail investors from risky trades. The Economic Survey and SEBI have raised concerns about increased retail participation in derivatives, noting significant losses among individual traders. The new rates are 0.1% for options and 0.02% for futures.
Union Budget: Finance Minister Nirmala Sitharaman has announced the establishment of new greenfield airports in Bihar, alongside medical colleges and sports infrastructure as part of the recent budget speech. This move aims to boost infrastructure in the state.
The finance minister said nuclear energy is expected to form a significant part of the energy mix for “Viksit Bharat”
The projects the government will provide financial support for include the Kosi-Mechi intra-state link and 20 other ongoing schemes, encompassing barrages, river pollution abatement, and irrigation projects. Additionally, survey and investigation of Kosi-related flood mitigation and irrigation will be undertaken. The states that will especially benefit from this initiative are Assam, Uttarakhand, Sikkim, and Himachal Pradesh.
Finance Minister Nirmala Sitharaman proposed easing norms for FDI and overseas investments, addressing a 3.49% decline in FDI to $44.42 billion in FY24 from countries like Mauritius and Singapore. The UNCTAD report shows India slipping to 15th in the World Investment Ranking. Measures include further liberalising FDI and allowing 100% FDI in the space sector.
Coforge's revenue grew 8.1% YoY and 1.8% quarter-on-quarter (QoQ) to Rs 2,400.8 crore for the first quarter ending June as compared to Rs 2,221 crore in Q1FY24 and Rs 2,358.5 crore in the March quarter or Q4FY24.
Promoters held 51.46 per cent stake in the company as of 30-Jun-2024, while FII and DII ownership stood at 11.2 per cent and 5.16 per cent, respectively.
IIHL made the highest cash offer of Rs 9,661-crore in the auctions and secured as much as 99 per cent of the lender's votes. The bid also included the Rs 500-crore cash balance with Reliance Capital going to the lenders, taking the overall recovery to Rs 10,200 crore or about 65 per cent as against Rs 16,000 crore principal secured debt the crippled company owed to lenders.
The defamation case was filed by Delhi BJP leader Praveen Shankar Kapoor against Atishi for levelling allegations that AAP leaders were approached by the BJP to join them in return for cash. The judge will further take up the matter on August 8 for scrutiny of documents and arguments on framing of notice (charges). The judge on May 28 refused to summon chief minister Arvind Kejriwal in the complaint. The court, however, summoned Atishi.
The Finance Minister has proposed an increase in short-term capital gains tax from 15% to 20% for equity investments sold before 12 months. This change is intended to address the perceived benefit enjoyed by high net worth individuals. It is important for investors to consider the implications of this tax hike on their investment strategies.
The stock quoted a 52-week high price of Rs 464.3 and low of Rs 217.0.
Finance Minister Nirmala Sitharaman announces withdrawal of 20% TDS rate on mutual funds and UTI repurchase. The Finance Bill 2024 proposes to omit section 194F of the Income-tax Act. Effective from October 1, 2024.
