Producers and exporters of seafood products saw a surge in stock prices following Finance Minister Nirmala Sitharaman's announcement of government support for the shrimp farming and marketing sector. The Union Budget for financial year 2024-25 revealed a reduction in basic customs duty on shrimp to 5%.
Rupee hit a record low of 83.69 against the U.S. dollar on Tuesday, influenced by a decline in domestic stocks following the government's proposal to increase capital gains taxes.
Old tax regime in Budget 2024: In the old tax regime, the basic exemption limit for income of the individual depends on the age of the taxpayer in the financial year.
2024 Budget: This year’s budget places a significant emphasis on enhancing self-sufficiency or 'Atma Nirbharta' through strategic initiatives aimed at empowering these key demographics.
Budget unveils energy audit, sops to encourage MSMEs to shift to clean energy.
A total of 9,566 shares changed hands on the counter till 12:38PM (IST).
Finance Minister Nirmala Sitharaman announced that the government has reduced its fiscal deficit target for FY25 to 4.9% of GDP, down from the interim budget's goal of 5.1%. It aims to surpass its FY26 target of 4.5%. The overall expenditure for FY25 is now estimated at Rs 48.21 lakh crore, with capital spending outlay remaining at Rs 11.11 lakh crore as per the interim budget.
The Section 56 (II) (viib) of the Income Tax Act, known as angel tax, is applicable on any consideration of issue of shares that exceed the fair value of these shares issued by a privately-held company.
Sithraman said the government’s focus was on energy security and sais a policy document on energy transition pathways will be released. The PM Surya Ghar Muft Bijli Yojana was launched by the Modi 2.0 government to install rooftop solar plants, providing free electricity up to 300 units per month to 1 crore households.
Rabri Devi protested the Rs 26,000 crore Bihar budget, citing crime and unemployment issues. Sitharaman’s plans include an industrial node at Gaya, expressways, Rajgir, Vaishali, and Darbhanga spurs, and a Ganga bridge. Jaiswal praised the funds, mentioning new medical colleges, a powerplant, tourism projects, and ongoing political debates.
The stock quoted a 52-week high of Rs 663.4 and a 52-week low of Rs 371.45.
“Minerals such as lithium, copper, cobalt and rare earth elements (REE) are critical for sectors like nuclear energy, renewable energy, space, defence, telecommunications and high-tech electronics,” she said while adding, “I propose to fully exempt Customs duties on 25 critical minerals and reduce BCD on two of them.”
New Income Tax Slab: Latest income tax slabs in new tax regime in Budget 2024: The income tax slabs and rates have been changed by the finance minister in the new tax regime today. Read on to know the latest announcements made by the finance minister in Budget 2024 today.
Standard deduction limit in Budget 2024: The finance minister has announced changes in the Standard deduction limit.
Union Budget 2024-25: Finance Minister Nirmala Sitharaman on Tuesday proposed to abolish the angel tax for all investor classes while presenting the Union Budget for 2024–25. There were expectations that the removal of the angel tax for startups might be announced in the budget. A few days ahead of the budget, DPIIT Secretary Rajesh Kumar Singh had confirmed that the department called for the removal of the angel tax.
The government is set to launch the fourth phase of the Pradhan Mantri Gram Sadak Yojana (PMGSY), aiming to connect 25,000 rural habitations and significantly expand the country's road network to enhance transportation in remote areas, boost economic growth, and reduce poverty, as reported by ET. The revamp will focus on widening and upgrading rural roads, linking them to hubs and markets to increase economic productivity and improve living conditions.
LTCG in Budget 2024: As per income tax rules, when an individual sells a capital asset, he/she can earn capital gains or losses.
Budget 2024: Presenting the full Budget 2024-25, Union Finance Minister Nirmala Sitharaman made major announcements for Bihar and Andhra Pradesh on Tuesday.
The minister added that the Indian space economy will be expanded by five times over the next decade. She did not elaborate on which entity will set up the fund or how the funds will be invested.
A total of 16,487 shares changed hands on the counter till 12:22PM (IST)
In the Budget for FY24-25, the Modi Government 3.0 intends to focus on nine key areas: agriculture, employment, human resource development and social justice, manufacturing and services, urban development, energy security, infrastructure, innovation, research and development, and next-generation reforms.
The Finance Minister said that the model skill loan scheme will be revised to facilitate loans up to RS 7.5 lakh with a guarantee from government promoted fund; and that this measure is expected to help 25,000 students every year. Moreover, among the initiatives that will be taken by the government to push the Skill Development sector are upgrading 1,000 Industrial Training Institutes (ITIs) in hub and spoke model, aligning course content with skill needs of industry and revision of model skill loan scheme, informed the Finance Minister.
Finance Minister Nirmala Sitharaman announced an allocation of over Rs 3 lakh crore for schemes benefiting women and girls to promote women-led development and enhance their role in economic growth in the Union Budget for 2024-25. She also mentioned plans to establish working women hostels to boost their participation in the workforce.
