In what may come as somewhat dampener for stock market investors, Finance Minister Nirmala Sitharaman as part of her Budget speech on Tuesday announced an increase in both long term and short term capital gains.
Finance Minister Nirmala Sitharaman has announced a significant set of income-tax reforms for the fiscal year 2024-25, aimed at simplifying tax laws, promoting compliance, and fostering economic growth.
Telugu Desam Party leader Somireddy Chandramohan Reddy expressed his delight and welcomed the announcement of the Union Budget by Finance Minister Nirmala Sitharaman on Tuesday.
Sitharaman said, "With a three fold increase in the domestic production and almost a 100-fold jump in exports of mobile phones over the last 6 years, the Indian mobile industry has matured. In the interest of consumers I now propose to reduce the Basic Customs Duty (BCD) on mobile phones,
Finance Minister Nirmala Sitharaman on Tuesday proposed to reduce customs duties on gold and silver to six per cent and on platinum to 6.4 per cent to enhance value addition in precious metal jewellery
To bolster the Indian start-up eco-system, boost the entrepreneurial spirit and support innovation, Finance Minister Nirmala Sitharaman proposed to abolish the so called angel tax for all classes of investors.
"Farmers' fertilisers and seeds should be made cheaper, and inflation should be stopped. The costs of petrol and diesel are high and farmers don't even get electricity. Rs 26,000 crore allotted to Bihar is a 'jhunjhuna," said the RJD leader.
Finance Minister Nirmala Sitharaman, in her seventh consecutive Union Budget for 2024-25, outlined key priorities aimed at fostering economic growth and creating ample opportunities.
Finance Minister Nirmala Sitharaman announced assistance to states including Bihar, Himachal Pradesh, Assam, Uttarakhand and Sikkim that suffered losses due to floods and other natural calamities.
Presenting the Union Budget for 2024-25, Union Finance Minister Nirmala Sitharaman on Tuesday pegged the fiscal deficit target at 4.9 per cent of gross domestic product (GDP)