In the latest Budget 2024 announcement, a significant change has been proposed that affects how we calculate long-term capital gains on property, gold, and other unlisted assets. The Finance Bill, presented in Parliament on Tuesday, suggests removing the indexation benefit that is currently available for these assets. Simplifying Capital Gains Computation The government states that …
On Tuesday, July 23, Finance Minister Nirmala Sitharaman presented the Union Budget 2024 for the seventh time. The budget document included Part B, read along with the Finance Bill, 2024, highlighting the government’s tax proposals. The amendments in direct taxation captured the attention of investors due to significant tax reforms, such as a substantial hike …
The Indian government has introduced significant reforms in the agriculture sector with the Budget 2024, aiming to achieve self-sufficiency and boost farmer incomes. These reforms include the Atmanirbhar Oil Seeds Abhiyan, development of large-scale vegetable production clusters, and various other initiatives to strengthen the agricultural supply chain. Let’s delve into these reforms and explore the …
On July 23, 2024, Finance Minister Nirmala Sitharaman presented its 7th consecutive budget, which is a record in India’s history. The budget was primarily focused on Productivity and Resilience in Agriculture, Employment and Skilling, Inclusive Human Resource and Development, and Social Justice, Manufacturing Services, Urban Development, Energy Security, Infrastructure, Innovation and Research & Development, and …
The first session of the 18th Lok Sabha, which ended earlier this month, was marked by heated arguments between the ruling party and the opposition on several topics. Despite ongoing disagreements between the ruling and opposition parties, the upcoming Budget session of Parliament, starting Monday, will address 5 Bills but won’t cover major economic laws. …
Finance Minister Nirmala Sitharaman took part in the ‘Halwa’ ceremony on July 16, 2024, marking the final stage of the preparation for the Union Budget 2024-25. This annual event was held at the Finance Ministry headquarters in North Block, Delhi. Let’s understand the Purpose of the ‘Halwa Ceremony’ Before Each Budget. The Significance of the …
The upcoming budget is highly anticipated, with many stakeholders hoping for measures to address current economic challenges and propel India’s growth trajectory. Here’s a breakdown of some of the most prominent expectations: Taxation: Relief for the Middle Class and Salaried Individuals After the lack of major tax announcements in the Interim Budget earlier this year, …
Industry Seeks Continued Investment in Infrastructure The Indian railway industry has urged the government to maintain its focus on capital expenditure (capex) in the upcoming budget on July 23rd. Industry believes continued investment is crucial for growth. Key personnels of Rail sector companies emphasised the importance of prioritising the creation of dedicated economic corridors announced …
Ayushman Bharat Scheme Expansion In a move that could significantly benefit senior citizens, the Modi government is expected to expand the coverage of the Ayushman Bharat Health Insurance Scheme in the upcoming Union Budget 2024-25, which Finance Minister Nirmala Sitharaman is set to present on July 23. Sources indicate that the scope of the scheme …
As Prime Minister Narendra Modi’s government embarks on its third term, the first Union Budget will be presented by Finance Minister Nirmala Sitharaman on July 23, 2024. This Budget marks an important milestone as it will be Sitharaman’s seventh consecutive Budget presentation, surpassing Morarji Desai’s record of six. The session is set to convene from …
