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2:08 pm

Income Tax Budget 2024-25: New tax slabs announced

Finance Minister Nirmala Sitharaman delivered the Union Budget 2024-25 today, with high expectations from taxpayers and salaried employees. Read More

2:00 pm

Budget Reaction 2024-25: Manish Dabkara, EKI Energy Services Ltd

Finance Minister Nirmala Sitharaman’s budget speech outlines a thorough strategy to drive India towards sustainable development and energy security. It is a great example of right things at the right time. Read more

1:30 pm

Union Budget 2024-25: Travel and Tourism Stocks Surge

Travel and tourism stocks saw a boost following the Union Budget’s announcement of measures aimed at enhancing domestic travel. Finance Minister Nirmala Sitharaman outlined significant initiatives, including the construction of the Vishnupath temple in Gaya.. Read more

12:25 pm

Long-Term Capital Gains Tax Increased to 12.5%

The Finance Minister has announced an increase in the Long-Term Capital Gains (LTCG) tax rate from 10% to 12.5%. S

12:21 am

Centre to Borrow ₹14.01 Lakh Crore in FY25, Lower than Interim Budget Estimate

Finance Minister Nirmala Sitharaman announced on July 23 that the Centre will borrow ₹14.01 lakh crore in the fiscal year 2024-25, slightly below the interim Budget estimate. This borrowing is intended to cover the fiscal deficit of 4.9% of GDP. The revised borrowing target is ₹1.4 lakh crore lower than the ₹15.43 lakh crore estimated for FY24.

12:20 pm

TDS Rate on E-Commerce Operators Reduced to 0.1%

The Finance Minister has announced a reduction in the Tax Deducted at Source (TDS) rate for e-commerce operators. The new rate will be lowered to 0.1%, down from the previous 1%.

12:16 pm

Customs Duty Exemptions on Critical Minerals Announced

Finance Minister Nirmala Sitharaman has announced significant changes in customs duties for critical minerals. The government will exempt customs duties on 25 essential minerals, crucial for various industrial applications.

12:13 pm

Customs Duty on Mobile Phones and Chargers Cut to 15%

Finance Minister Nirmala Sitharaman has announced a reduction in the Basic Customs Duty (BCD) on mobile phones and mobile chargers to 15%. This move is expected to make phone purchases more affordable.

12:10 am

Fiscal Deficit Adjusted to 4.9% of GDP; Market Borrowing Remains Steady

Finance Minister Nirmala Sitharaman has announced a reduction in the fiscal deficit for FY25 to 4.9% of GDP, down from the 5.1% projected in the interim budget. The government aims to lower the fiscal deficit further to below 4.5% by FY26. Meanwhile, market borrowing remains unchanged at ₹14.13 lakh crore.

12:09 pm

Fiscal Deficit Target Adjusted; Market Borrowing Remains Steady

Finance Minister Nirmala Sitharaman has announced a reduction in the fiscal deficit to 4.9% of GDP for FY25, down from the 5.1% projected in the interim Budget. The government remains committed to achieving a fiscal deficit of below 4.5% by FY26. Market borrowing for the year will remain unchanged at ₹14.13 lakh crore.

11:58 am

₹1,000 Crore Boost for Space Economy Announced

The government has unveiled a significant boost for the space sector with a ₹1,000 crore investment. This funding is set to expand India’s space economy fivefold over the next decade, marking a major step forward in advancing the country’s capabilities and opportunities in space exploration and technology.

11:51 am

Financial Assistance Announced for Flood-Affected States

Finance Minister Nirmala Sitharaman has announced targeted financial aid for states severely impacted by recent floods. Assam and Himachal Pradesh will receive dedicated funds to enhance flood management efforts. Additionally, support will be extended to Sikkim, Uttarakhand, and Himachal Pradesh to address flood-related challenges and bolster recovery initiatives.

11:49 am

FM Allocates ₹11.11 Lakh Crore for Capex, Targeting 3.4% of GDP

Finance Minister Nirmala Sitharaman confirmed that India’s capital expenditure (capex) for FY25 will remain at ₹11.11 lakh crore, consistent with the allocation made in February. This amount is notably higher than the revised estimate of ₹9.5 lakh crore for the previous fiscal year.

The capex allocation will constitute 3.4% of the Budget, up from 3.2% last year, and is nearly double the expenditure from five years ago. While capex growth has consistently been in double digits over the past seven years, it is expected to slow down from the 28.4% growth recorded in FY24 and 24.8% in the previous year.

11:45 am

Urban Housing and Renewable Energy Initiatives

₹10 Lakh Crore Urban Housing Investment: A substantial outlay of ₹10 lakh crore has been announced to address the housing needs of 1 crore urban poor and middle-class families.

PM Surya Ghar Muft Bijli Yojana: Launch of a new scheme to install rooftop solar panels for 1 crore households, enhancing renewable energy access and sustainability.

11:37 am

Internship for youth in top companies

FM Unveils Scheme to Offer Internships for 1 Crore Youth in Top Companies Over 5 Years

11:35 am

FM announcements for MSME

FM Sitharaman Announces Special Focus on MSMEs:

  • New Budget Measures Include Credit Guarantees,
  • Machinery Loans, and
  • Technology Support

 

11:30 am

Budget highlights for Andhra Pradesh

FM Announces Special Financial Support for Andhra Pradesh: ₹15,000 Crore in Budget, with Additional Funds Planned for Future Years

11:25 am

Budget highlights for Bihar

FM Sitharaman Announces New Airports, Medical Facilities, and Sports Infrastructure for Bihar, with Rs 26,000 Crore for Highways

11:26 am

FM Sitharaman Unveils 3 New Schemes to Boost Employment and Support Employers

Finance Minister Nirmala Sitharaman has introduced three employment-linked incentive schemes aimed at boosting job creation and supporting employers:

  1. One Month’s Wage for Freshers: This scheme offers an incentive equivalent to one month’s wage for newly hired employees, encouraging companies to bring fresh talent into the workforce.
  2. Job Creation in Manufacturing: Focused on the manufacturing sector, this scheme aims to stimulate job creation by providing targeted incentives to businesses that expand their workforce in this critical area.
  3. Support to Employers: This initiative provides additional support to employers to encourage them to hire more workers. It includes various measures such as tax breaks, subsidies, or grants to help offset the costs associated with new hires.
11:18 am

Energy security is key priorities of the government

Finance Minister Nirmala Sitharaman has identified energy security as one of the nine key priorities for the government. This priority aligns with the insights from the Economic Survey 2023-24, which underscores the necessity for India to diversify its energy sources to ensure energy security and meet its nationally determined contribution (NDC) targets. As India’s economy continues to grow, the country’s energy needs are projected to increase 2-2.5 times by 2047.

11:11 am

₹1.52 Lakh crore for Agriculture and Allied sectors

Will implement 3 schemes related to employment-linked incentives

11:12 am

FM Sitharaman announced a comprehensive review of the agricultural research setup

Finance Minister Nirmala Sitharaman announced a comprehensive review of the agricultural research setup, emphasizing the need to transform agri research. The focus will be on raising productivity and developing climate-resilient crop varieties to ensure sustainable agricultural growth.

11:11 am

Roadmap to pursue 9 priorities in India: FM Sitharaman

Agriculture, employment, Inclusive Development, Manufacturing and Services, Urban Development, Energy, Infrastructure, Innovation, Research & Development, NexGen reforms

11:08 am

5 Schemes to facilitate employment and skilling

Provision of 1.48 lakh crore for education, employment and skilling

11:07 am

inflation to be stable and low below 4%

Finance Minister Nirmala Sitharaman announced the extension of the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) for five more years, benefiting over 80 crore people across the country.

11:05 am

FM Nirmala Sitharaman has started presenting her 7th budget speech in Parliament

FM has presented Interim Budget on February 1, 2024

11:00 am

FM Sitharaman to present budget shortly in Parliament

Stay tune for more updates

11:00 am

Cabinet Greenlights Modi 3.0's First Budget; FM Sitharaman's Upcoming Speech on spotlight

Key points of interest include potential tax relief for the middle class, which could increase disposable income, driven by tax buoyancy. Additionally, the market is keenly observing whether the Budget will maintain the fiscal glide path, aiming to reduce the fiscal deficit to 4.5% of GDP by 2025-26.

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