20:37
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The government on Tuesday announced the development of 'plug and play' industrial parks in or near 100 cities in partnership with states and the private sector to boost manufacturing. Finance Minister Nirmala Sitharaman said these parks will be developed using town planning schemes in a...
19:56
The government on Tuesday announced setting up of hubs to promote exports through e-commerce medium in public-private-partnership (PPP) mode and initially 10-15 hubs will be established. Finance Minister Nirmala Sitharaman said that these hubs, under a seamless regulatory and logistic...
18:08
Illustration: Dominic Xavier/Rediff.com
The proposed changes in capital gains tax rates in the Budget are estimated to garner an additional Rs 15,000 crore to the exchequer, Revenue Secretary Sanjay Malhotra said on Tuesday.Finance Minister Nirmala Sitharaman, in her 2024-25 Budget, has proposed to rationalise the capital gains tax...
16:30
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...
15:24
The government will set up a venture capital fund of Rs 1,000 crore to promote space technology, Finance Minister Nirmala Sitharaman said on Tuesday, an announcement welcomed warmly by the industry. Several stakeholders, including the Indian Space Association (ISpA) as well as the heads of...
14:50
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Finance Minister Nirmala Sitharaman on Tuesday announced the doubling of the upper limit of Mudra loans to Rs 20 lakh to promote entrepreneurship in the country. The limit of Mudra loans will be enhanced to Rs 20 lakh from the current Rs 10 lakh for those entrepreneurs who have availed and...
14:04
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The government has proposed to increase import duty on motherboards, technically called printed circuit boards, by 5 per cent in the Union Budget 2024-25 to boost domestic telecom gear manufacturing. To incentivise domestic manufacturing, I propose to increase the BCD (Basic Customs Duty)...
13:16
Finance Minister Nirmala Sitharaman on Tuesday said the government plans to raise capital gains exemption limit on certain financial assets to Rs 1.25 lakh per year for middle and upper middle class. Presenting the Budget for 2024-25, she announced a hike in STT (securities transaction tax)...
12:52
Finance Minister Nirmala Sitharaman on Tuesday proposed reduction in basic customs duty on gold and silver to 6 per cent and platinum to 6.4 per cent.Presenting Budget for 2024-25, she also announced removal of basic customs duty on ferronickel, blister copper, while increasing the same to 15 per...
12:48
The government on Tuesday announced withdrawal of the 2 per cent equalisation levy. Presenting the Budget for 2024-25 in the Lok Sabha, Finance Minister Nirmala Sitharaman said the standard deduction for salaried employees will be hiked to Rs 75,000, from Rs 50,000 under new income tax...
12:37
On personal income tax rates in the new tax regime, Sitharaman says, Under the new tax regime, tax rate structure to be revised as follows: Rs 0-Rs 3 lakh - Nil; Rs 3-7 lakh - 5%; Rs 7-10 lakh - 10%; Rs 10-12 lakh - 15%; Rs 12-15 lakh - 20% Above Rs 15 lakh - 30%.
12:32
Other tax-related announcements made by the finance minister are:Corporate tax rate to be reduced on foreign companies from 40 to 35 per cent Monetary limit for filing Tax appeals increased to Rs 60 lacs for ITAT, Rs 2 crores for High Courts and Rs 5 crores for Supreme CourtA comprehensive...
12:28
Standard deduction raised to Rs 75,000 under the new tax regime, announces FM.
12:24
20% TDS on repurchase of Mutual Funds or UTI withdrawn, the finance minister has announced. She also reduced customs duties on gold and silver to 6% and 6.5% on platinum.
12:21
The finance minister has announced the abolition of the unpopular Angel Tax on all classes of investors.
12:15
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Union Finance Minister Nirmala Sitharaman says Three cancer treatment medicines to be exempt from basic customs duty...
12:11
Other announcements made by Sitharaman in her Budget speech are:Street food hub to be set up in select cities Govt to provide assistance to Assam for flood management and related projects Finance Minister proposes Rs 1.5 lakh cr long-term interest-free loans to support...
12:06
Finance Minister Nirmala Sitharaman says, Significant investments have been made to build robust infrastructure. Over 11 lakh crore rupees for capital expenditure have been allocated for infrastructure development. This would be 3.4% of our GDP...Private investment in infrastructure by private...
12:03
Union Finance Minister Nirmala Sitharaman in her Budget speech proposed the creation of employment of about 4.1 crore youth over the next five years. Towards it, the finance minister has made an allocation of Rs 2 lakh crore. Similarly, for skilling the citizens so as to generate job...
11:57
Other announcements Sitharaman made in her Budget speech are:Govt proposes development of digital public infra application for productivity gains, biz opportunities and innovation by private sector FM proposes integrated technology platform for improving outcomes under...
11:54
The government on Tuesday announced the Pradhan Mantri Janjatiya Unnat Gram Abhiyan for improving the socio-economic conditions of tribal communities in the country. The programme aims at achieving saturation coverage for tribal families in tribal-majority villages and aspirational...
11:50
Finance Minister Nirmala Sitharaman says, Working women hostels will be set up. Higher participation of women in workforce to be promoted through hostels and creches...Our government will bring National Cooperation Policy for overall development. Our government will provide financial support for...
11:46
Presenting Union Budget, Finance Minister Nirmala Sitharaman says, The Government will launch a scheme to provide internship opportunities to 1 crore youth in 500 top companies with Rs 5000 per month as internship allowance and one-time assistance of Rs 6000.
11:42
Other announcements Sitharaman made in her Budget speech are:Credit guarantee scheme for MSMEs to facilitate term loans without collateral or third party guarantee Govt to launch saturation drive under Pradhan Mantri Janjati Adivasi Nyaya Maha Abhiyan (PM JANMAN) Budget...
11:39
The Centre on Tuesday proposed an outlay of Rs 26,000 crore for various road projects in Bihar. In her Budget for 2024-25, Finance Minister Nirmala Sitharaman said the Union government will arrange financial assistance to Bihar through aid from multilateral development agencies. The...
11:37
ON MSMEs, Finance Minister Nirmala Sitharaman says, For facilitating term loans to MSMEs, a credit guarantee scheme will be introduced. The scheme will operate on the cooling of credit risks of such MSMEs. A self-financing guarantee fund will provide to each applicant cover of up to Rs 100 crore...
11:35
The government on Tuesday announced a new centrally-sponsored scheme for skilling 20 lakh youth over the next five years. The announcement was made by Finance Minister Nirmala Sitharaman in the Union Budget 2024-25. The minister said that model skilling loan scheme will be revised to...
11:32
Other announcements the finance minister made in her Budget speech are:Govt to set up working women hostels to promote women participation in workforce Govt to provide funds to private sector, domain experts & others for developing climate-resilient seeds ...
11:30
'One month wages to all persons newly entering the workplace in all formal sectors. Direct Benefit Transfer of one month salary in 3 instalments to first-time employees as registered in the EPFO will be up to Rs 15,000. The eligibility limit will be a salary of Rs 1 lakh per month. The scheme...
11:25
'Our government will implement three schemes for employment-linked incentives as part of the Prime Minister's package. These will be based on enrollment in the EPFO and focus on recognition of the first time employees and support to employees and employers,' announces Sitharaman
11:22
The allocation for agriculture and allied sectors this year is Rs 1.52 lakh crore, announces Sitharaman.
11:21
Among other things Sitharaman announced are:Govt will bring National Cooperation Policy for overall development:Government to strengthen production, storage and marketing of pulsesFast-tracking growth of rural economy and employment opportunity will be policy goalGovt will provide finance for...
11:19
Finance Minister Nirmala Sitharaman says, New 109 high-yielding and climate resilient varieties of 32 field and horticulture crops will be released for cultivation by farmers. In the next 2 years, 1 crore farmers will be initiated into natural farming supported by certification and branding...
11:18
Rs 1.48 lakh cr has been provided for skilling and education, says Sitharaman.
11:12
Budget will focus on employment, skilling, MSME and middle class, says FM in her speech.
11:10
India's inflation continues to be stable and moving towards 4 pc target; core inflation stands at 3.1 pc, says finance minister in her budget speech.
11:04
Finance Minister begins her Budget speech in Parliament on Tuesday.This is her seventh straight budget on Tuesday for 2024-25, surpassing the record of former prime minister Morarji Desai.Prime Minister Narendra Modi-led government's first budget of the third term in office is widely expected to...
10:56
The Union Cabinet headed by Prime Minister Narendra Modi on Tuesday approved the full budget for 2024-25, sources said. Following this, Finance Minister Nirmala Sitharaman will present her seventh budget in the Lok Sabha. Sitharaman, the first full-time woman finance minister of the...
10:48
Finance Minister Nirmala Sitharaman arrived in Parliament to present the Union Budget for 2024-25. Earlier, Sitharaman met President Droupadi Murmu at Rashtrapati Bhavan, ahead of the Budget presentation at 11 am. The finance minister left the North Block offices of the finance ministry...
10:38
Finance Minister Nirmala Sitharaman on Tuesday called on President Droupadi Murmu before presenting the full Budget for 2024-25. As per established tradition, the finance minister met the President at the Rashtrapati Bhavan before heading to Parliament. President Murmu offered...
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