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Union Finance Minister Nirmala Sitharaman on July 23 announced several schemes for Bihar in her Budget 2024 speech. The schemes are a part of a larger plan titled “Purvodaya”, which covers the all-round development of eastern States including Bihar, Jharkhand, West Bengal, Odisha, and Andhra Pradesh. The government will support the development of an industrial…
Chief Minister Siddaramaiah. File Karnataka appears to be entering a fresh round of tussle with the Centre as the Congress-ruled State on July 23 declared that it will boycott the NITI Ayog meeting convened by Prime Minister Narendra Modi in Delhi on July 27, accusing the Centre of ignoring its demands in the Union Budget….
S. Gajraj, chairman, Marketing Committee, Tamilnadu Small and Tiny Industries Association, and his family. Annual Income: ₹25 lakh Number of members in the family: 3 The Budget is pro-poor and pro-women, who are the most vulnerable. It rightly addresses their concerns, and has allocated money for their uplift. But the tax rebate could have been…
Read More “High income group: ‘Tax rebate could have been higher for low earners’” »
S. Selladurai, a retired professor of Anna University, and his wife Geetha. | Photo Credit: Akhila Easwaran Annual income: ₹17 lakh No. of family members: 3 The Union Budget has minor benefits for the salaried class and retired people, said S. Selladurai, a retired professor of Anna University. The increase in the standard deduction limit…
D. Kumar, a fruit vendor. | Photo Credit: M. Vedhan Annual income: ₹1.2 lakh per annum No. of family members: 4 D. Kumar and Santhi, a couple, find little solace in the Union Budget being presented every year, and this year is no different. While Mr. Kumar runs a fruit shop in Parry’s, his wife…
Read More “Low income group: ‘Budget lacking in social welfare benefits’” »
The story so far: The 2024 Union Budget, presented by Finance Minister Nirmala Sitharaman on Tuesday, includes developing a taxonomy for climate finance to enhance the availability of capital for climate adaptation and mitigation. “This will support achievement of the country’s climate commitments and green transition,” Ms. Sitharaman said in her speech. What is taxonomy…
Read More “Budget 2024: What is taxonomy for climate finance? | Explained” »
Union Budget 2024: FM announces duty cut on mobile phones, PCBA and chargers. | Photo Credit: Haider Ali Khan Union Finance Minister Nirmala Sitharaman, in her Budget speech on July 23, announced a cut on basic custom duty (BCD) to 15% on mobile phones, mobile printed circuit board assembly (PCBA) and mobile chargers. Currently, the BCD…
Villagers show lithium stones in Reasi district of Jammu (file photo) | Photo Credit: PTI Finance Minister Nirmala Sitharaman on July 23 announced to fully exempt 25 critical minerals from custom duties, and reduce basic custom duties (BCD) on two of them. “This will provide a major fillip to the processing and refining of such minerals…
Image used for representation purpose only. | Photo Credit: Reuters Finance Minister Nirmala Sitharaman, in her Budget speech on July 23, said the fiscal deficit for 2024-25 is estimated at 4.9% of GDP. Presenting the Union Budget for 2024-25, she said the government aims to reach a 4.5% fiscal deficit in 2025-26. Click here for…
Finance Minister Nirmala Sitharaman has changed the income tax slabs for the new tax regime which is likely to benefit taxpayers. Finance Minister Nirmala Sitharaman in her seventh Budget speech on July 23 revised the tax slabs under the new regime. She told the House that as a result of these changes, a salaried employee…