Page 8 - Union Budget

What's behind the Centre's big love for Ladakh in Union Budget 2024?

The government's increased budget allocations for Ladakh and additional allocations for various central expenditures have focused on the overall development of the region over the years

Union Budget 2024-25: Absence of incentives disappoints hospitality sector

India has witnessed a remarkable development in the tourism and hospitality sectors in the post-COVID-19 era. According to the Economic Survey 2023-24

Budget 2024: Steep STT increase to tame retail frenzy in derivatives market

Some market participants have also suggested that income from F&O trading should be classified as speculative income and taxed at a higher rate

Chidambaram, Tharoor laud angel tax end, call Budget 2024 'underwhelming'

Union budget 2024-25: Former Finance Minister P Chidambaram and Congress leader Shashi Tharoor find Budget 2024 presentation full of missed opportunities, compared it Congress manifesto

Cut in gold import duty will curb smuggling, boost jewellery exports: Goyal

The announcement in the Budget to cut import duty on gold will help boost domestic manufacturing and promote jewellery exports, Commerce and Industry Minister Piyush Goyal said on Tuesday. He also said that the decision for the removal of angel tax will further strengthen the startup ecosystem in the country. "The gold import duty cut to 6 per cent will promote the manufacturing of gold and silver jewellery. It will also contain smuggling," Goyal told PTI. He added that the gold prices are high and the marriage season is coming and this move would help the people. Presenting the Union Budget 2024-25 on Tuesday, Finance Minister Nirmala Sitharaman said that to enhance domestic value addition in gold and precious metal jewellery in the country, the government has proposed to reduce customs duties on gold and silver to 6 per cent and that on platinum to 6.4 per cent. Giving a big relief to startups, the government on Tuesday announced the removal of angel tax for all classes of inves

Budget 2024: Govt scraps import taxes on critical minerals to aid RE sector

Duties on metals including copper, lithium and cobalt will be lifted to aid the domestic development of sectors like renewable electricity and aerospace, she said in the speech on Tuesday

Budget makes employment push as youth share in formal job additions falls

Share of people younger than 25 in formal employment, as defined by EPFO additions, fell to 50.2% in 2023-24, from 68.9% in 2018-19

Budget 2024: Sitharaman's Budget cuts subsidy bill by 7.8% to Rs 3.81 trn

In a move that signals fiscal prudence, the government reduced its subsidy outlay for food, fertiliser, and fuel by 7.8 per cent in the full Budget for 2024-25, presented by Finance Minister Nirmala Sitharaman in the Lok Sabha on Tuesday. The total subsidy allocation stands at Rs 3,81,175 crore for the current fiscal, down from the previous year's figure of Rs 4,13,466 crore. This reduction aligns with the estimates projected in February's interim budget. Breaking down the allocations, the food subsidy has been set at Rs 2,05,250 crore, a decrease from the revised estimates of Rs 2,12,332 crore for the fiscal ending March 31, 2024. This subsidy covers the difference between the economic cost of foodgrains procured by the government and their sales realisation under the National Food Security Act (NFSA) and other welfare schemes, benefiting approximately 80 crore individuals. The fertiliser subsidy has seen a more significant cut, with Rs 1,64,000 crore earmarked for 2024-25 against

Budget allocates Rs 1.28 trn for telecom ministry; BSNL to get Rs 82,916 cr

The government has proposed the allocation of Rs 1.28 lakh crore for telecom projects and public sector firms under the telecom ministry with a majority of funds earmarked for state-owned BSNL. Of the total proposed allocation, over Rs 1 lakh crore is meant for BSNL and MTNL-related expenses, including Rs 82,916 crore infusion in BSNL for technology upgradation and restructuring at BSNL. "The total net allocation for this demand in BE (Budget Estimate) 2024-25 is Rs 1,28,915.43 crore (Rs 1,11,915.43 crore plus Rs 17,000 crore). The additional provision of Rs 17,000 crore is met from the balances available under Universal Service Obligation Fund and will be utilised for schemes viz., Compensation to Telecom Service Providers, Bharatnet and Research and Development," the budget document said. The budget has proposed to allocate Rs 17,510 crore for pensionary benefits of the employees of the Department of Telecommunications, including employees absorbed in Bharat Sanchar Nigam Ltd and

Don't need angel tax to stop money laundering: FM Sitharaman on Budget 2024

Union Budget 2024-25: Union Finance Minister Nirmala Sitharaman clarifies tax on long-term capital gains, angel tax, and government effort to widen the tax net

A balanced Budget 2024-25 should be a big relief for markets: Manish Jain

India Budget 2024-25 News Highlights: By raising LTCG tax to 12.5 per cent and STCG tax to 20 per cent, the overhang for stock markets gets removed

Budget 2024: MHA gets Rs 2.19 trn; major chunk for CRPF, BSF, CISF

The Union Budget 2024-25 on Tuesday allocated Rs 2,19,643.31 crore to the Ministry of Home Affairs with the majority of it -- Rs 1,43,275.90 crore -- being given to central police forces like the CRPF, BSF, and CISF which are responsible for internal security, border guarding, and security of vital installations. The interim budget 2024-25 had allocated Rs 2,02,868.70 crore to the home ministry, helmed by Union Home Minister Amit Shah. Union Finance Minister Nirmala Sitharaman has allocated Rs 42,277.74 crore to Jammu and Kashmir which is currently under the direct control of the central government after the abrogation of Article 370. Jammu and Kashmir was stripped of its special status in August 2019 and the erstwhile state was bifurcated into two Union Territories. In the budget, Rs 5,985.82 crore has been given to Andaman and Nicobar Islands, Rs 5,862.62 crore to Chandigarh, Rs 5,958 crore to Ladakh, Rs 2,648.97 crore to Dadra and Nagar Haveli and Daman and Diu and Rs 1,490.10 .

Budget 2024: 'Cruel, madness' - internet angry over capital gains tax hike

Union Budget 2024: Several people took to social media platform X (formerly Twitter) to criticise the move, noting that it is painful for stock market investors

Budget 2024: Modi 3.0 govt simplifies taxes, fosters foreign investments

India Budget 2024 tax rules: In order to achieve the vision of simplifying taxes, FM Nirmala Sitharaman announced a comprehensive review of the Income Tax Act, 1961

Budget 2024 reactions: BJP, ally Nitish Kumar and Opposition, who said what

Union Budget 2024: The Congress was quick to point out that the parts of Sitharaman's Budget were inspired from its Lok Sabha elections 2024 manifesto

Chef Manu Chandra's take on the best things in Union Budget 2024

'Would've liked better tax benefits for entrepreneurs', says Chef Manu Chandra

Budget 2024: Health Ministry's Budget outlay jumps 12.9% to Rs 90,958 crore

The budgetary estimate figures for FY25 include the combined outlay for the two departments under the health ministry: the department of health and family welfare and the department of health research

Union Budget 2024: Rahul Gandhi calls it a copy-paste 'kursi bachao' Budget

Budget 2024: Congress leader Rahul Gandhi said the Budget 2024 document was copied from the Congress party's election manifesto

India Budget 2024 steers economic growth amid fiscal prudence: Sujan Hajra

Union Budget 2024 news: The budget prioritises sectors like agriculture, education, and employment generation, broadening the base for economic advancement

A progressive and forward-looking Budget, says artist Paresh Maity

This Budget provides a roadmap for enhancing the support for women so that they are able to play a greater role in the development of the economy, said Paresh Maity