In the July 2024 Budget, the government had proposed a comprehensive review of the Income-tax Act, 1961. The purpose was to make the Act concise and lucid and reduce disputes and litigation.
Speaking at a post-Budget webinar hosted by the Department of Financial Services, the finance minister recounted how some of the announcements made in the July 2024 Budget have been implemented in a short time.
Finance Minister Nirmala Sitharaman on Monday launched the Mutual Credit Guarantee Scheme for MSMEs (MCGS - MSME) for facilitating loans upto Rs.100 crore to MSMEs for the purchase of machinery or equipment without collateral.
During the discussions on Union Budget 2024-25 in the Rajya Sabha on Wednesday, Congress leader and former finance minister, P Chidambaram, raised four major themes that are challenges for the economy.
Union Home Minister Amit Shah praised the first Budget of the Modi 3.0 government that was presented by Finance Minister Nirmala Sitharaman on Tuesday, saying that the pro-people and pro-development visionary Budget 2024-25 fuels the nation's pace in emerging as a developed nation.
The Federation of Indian Chambers of Commerce & Industry (FICCI) has anticipated that the government might reform the taxation system in the union budget, aimed at stimulating economic growth.
Indian stock indices kicked off Friday's session sharply higher, a day after the central government showed its intent that it was aiming for fiscal consolidation even as the General elections are around the corner.
The central government will especially focus on five eastern states - Bihar, Jharkhand, Chhattisgarh, Odisha, and West Bengal - so that they can become the growth engine of the country, as it wishes to emerge as a developed nation in its 100th year of Independence.