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One of the most compelling aspects of the NPS Vatsalaya scheme is its flexibility.

The reaction was sparked by Finance Minister Nirmala Sithraman's announcement of the cuts during her Budget speech.

Union Finance Minister Nirmala Sitharaman presented the Budget for FY 2024-25, focusing on fiscal prudence, job growth, and taxpayer relief. Key highlights include reducing the fiscal deficit target to 4.9% of GDP, raising the standard deduction under the new income tax regime to Rs 75,000, and removing indexation benefits on long-term capital gains. The budget also proposes rationalizing capital gains taxes, abolishing the angel tax, increasing the security transactions tax, and introducing job creation incentives. Customs duties on precious metals were reduced, and tax reassessment time limits shortened. Additionally, e-commerce export hubs will be established to aid MSMEs and artisans.

The customs duty reduction will benefit domestic jewellery manufacturers, especially small and medium enterprises, encouraging them to transition gradually to the formal channel.

Overall the budget maintains its focus on long term growth and sustainability and is positive towards infrastructure segments.

These measures are set to enhance transparency, efficiency & ease of doing business in the logistics sector. 

The borrowing is pegged to Rs 14 L Cr which is less than last year. This is positive for the overall economy.

The budget carries an allocation of more than ₹3 lakh crore for schemes benefitting women and girls. This signals our government’s commitment to enhancing women’s role in economic development.

Non-institutional investors placed 135.02 times subscriptions and Retail Individual Investors (RIIs), who placed 22.89 times subscriptions.

Overall, this budget has laid a strong foundation for a more resilient, productive, and sustainable agricultural sector in the country.