News

EcoScope : Economic Survey 2023 - 2024 by Motilal Oswal Financial Services Ltd EcoScope: Economic Survey 2023 - 2024 * The Union Finance Minister, Nirmala Sitharaman, tabled the Economic Survey 2023-24 on 22nd Jul’24. The survey highlighted that “the Indian economy is on a strong wicket and stable footing, demonstrating resilience in the face of geopolitical challenges”. It further emphasized India’s sustained post-Covid recovery, stable inflation, and a positive investment climate driven by both the public and private sectors. * The survey...
EcoScope : Economic Survey 2023 - 2024 by Motilal Oswal Financial Services Ltd
EcoScope : Economic Survey 2023 - 2024 by Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2024-07-29 11:19:13 am
Budget: A little for all, but wait for a long haul The week gone by was dramatic in more ways than one. Markets lost on the first four days of the week and extended losses for five consecutive days before a complete turnaround happened on Friday, which was the first day of the August futures series.    Incidentally, the Union Budget was declared on Tuesday and markets were on a losing streak before and after the announcement. Losses in the first four days of the week were covered and converted from negative to positive by much...
Budget: A little for all, but wait for a long haul
Budget: A little for all, but wait for a long haul
Source: IANS
2024-07-28 05:55:40 pm
Kotak Institutional Equities: Strategy: FY2025 union budget: Prudent and balanced FY2025 union budget: Prudent and balanced The FY2025 union budget delivered a prudent balance between capital expenditure, fiscal prudence and welfarism. The government continued with its focus on spending in core infrastructure areas, while expenditure on certain social welfare schemes was under control. The budget did minor tinkering on tax rates for individuals, while capital gains taxes were rationalized across asset classes. Central GFD/GDP of 4.9% highlights sharper focus on conso...
Kotak Institutional Equities: Strategy: FY2025 union budget: Prudent and balanced
Kotak Institutional Equities: Strategy: FY2025 union budget: Prudent and balanced
Source: Kotak Institutional Equities
2024-07-25 01:53:12 pm
Union Budget 2024-25 by Nirmal Bang Ltd * Fiscal Consolidation seems to be the key priority in the final budget * Majority of Additional surplus received from RBI is used to reduce fiscal deficit * Special investment package to Bihar and Andhra Pradesh * Most of the centrally sponsored scheme allocation remain same as interim Budget * Allocation for Capital Expenditure also remain same as interim Budget and increased by 17% from last year * Allocation for Rail, Defense, and Road also remain same as interim budget ...
Union Budget 2024-25 by Nirmal Bang Ltd
Union Budget 2024-25 by Nirmal Bang Ltd
Source: Nirmal Bang Ltd
2024-07-25 11:28:41 am
Union Budget 2024-25 by Sushil Finance Services Budget 2024: Quest for Viksit Bharat  Ø FM Nirmala Sitharaman presented her 7th consecutive budget creating a history of continuity. The NDA 3.0 Government had a difficult choice of balancing the needs of the coalition partners, and maintaining fiscal discipline. Ø Budget 2024-25 glided back to a fiscal discipline path by containing fiscal deficit for current year to 4.90%, and reducing it gradually over medium term. Ø Budget 2024-25...
Union Budget 2024-25 by Sushil Finance Services
Union Budget 2024-25 by Sushil Finance Services
Source: Sushil Financial Services
2024-07-25 10:55:20 am
Views on budget Markets - Debt & Equity & Sectors Outlook by Tata Mutual Fund Key Highlights of the Union Budget 2024 Key focus on employment, skilling, MSME and middle class. An allocation of Rs.1.48 lakh crore for education, employment and skill development was announced 9 Priorities of the budget: Agriculture, Employment and Skilling, Human Resource Development, Manufacturing, MSMEs, Urban Development, Energy Security, Infrastructure, Innovation Andhra Pradesh Reorganization Act: Special financial suppo through multilateral development agencies of Rs. 15,0...
Views on budget Markets - Debt & Equity & Sectors Outlook by Tata Mutual Fund
Views on budget Markets - Debt & Equity & Sectors Outlook by Tata Mutual Fund
Source: Tata Mutual Fund
2024-07-25 10:48:12 am
Budget 2024 sets new precedent for prioritising job creation, skilling: Jayant Chaudhary  For the first time, the Union Budget 2024 places a significant focus on employment-linked schemes, setting a new precedent for prioritising job creation and skilling in our nation, Jayant Chaudhary, Minister of State for Skill Development and Entrepreneurship (Independent Charge) said on Wednesday.  The Budget is a comprehensive blueprint for a prosperous and inclusive India. "It embodies our collective aspirations and commitment to ensuring that every Indian achieves th...
Budget 2024 sets new precedent for prioritising job creation, skilling: Jayant Chaudhary
Budget 2024 sets new precedent for prioritising job creation, skilling: Jayant Chaudhary
Source: IANS
2024-07-24 03:12:23 pm
Budget heralds big bang tax reforms, simplifies long term capital gains: Experts The Union Budget under Prime Minister Narendra Modi 3.0 contains some big bang tax reforms and the government is sticking to its path of simplifying and streamlining the entire tax regime, experts said on Wednesday.  Allaying the fears of investors on long-term capital gains (LTCG) tax, they said the whole idea of the government is to simplify the capital gains framework. There are multiple holding periods and tax rates which are there in the current LTCG framework that have been r...
Budget heralds big bang tax reforms, simplifies long term capital gains: Experts
Budget heralds big bang tax reforms, simplifies long term capital gains: Experts
Source: IANS
2024-07-24 02:03:37 pm
Union Budget 2024: A Strategic Framework for Economic Growth and Social Welfare By Chandrakant Patel, Chairman and Managing Director, Ice Make Refrigeration Ltd Finance Minister Nirmala Sitharaman’s seventh consecutive budget unveils a comprehensive strategy aimed at fostering economic growth, infrastructure development, employment generation, and social welfare. This budget marks the beginning of the BJP-led NDA government's third term and represents a robust approach to meeting the nation’s diverse needs. Over the past decade, government policies have significantly contributed to India's growth, particularly in sectors like cold...
Union Budget 2024: A Strategic Framework for Economic Growth and Social Welfare By Chandrakant Patel, Chairman and Managing Director, Ice Make Refrigeration Ltd
Union Budget 2024: A Strategic Framework for Economic Growth and Social Welfare By Chandrakant Patel, Chairman and Managing Director, Ice Make Refrigeration Ltd
Source: PR Agency
2024-07-24 11:09:15 am
Experts clarify new capital gains tax regime for realty sector Amid the confusion over the government eliminating the indexation benefit on calculating long-term capital gains tax (LTCG) on property which led to real estate stocks nosediving, some experts tried to assuage people, saying even in property, new tax rate at 12.5 per cent (without indexation) would be better than previous regime (20 per cent with indexation) if property is held longer as an asset than used just to rotate money every few years.   The LTCG on property sales has been red...
Experts clarify new capital gains tax regime for realty sector
Experts clarify new capital gains tax regime for realty sector
Source: IANS
2024-07-24 10:29:11 am
Budget reflects PM Narendra Modi`s vision for India`s growth: MP Finance Minister  Madhya Pradesh Finance Minister Jagdish Devda on Tuesday said the comprehensive annual Budget presented on Tuesday showed Prime Minister Narendra Modi government’s vision for the country.   He said the government has allocated a major chunk of its annual Budget to secure the future of youths with multiple steps, from education to employment and making them skilful. The minister said the “best part” of the Budget is that it has a vision of growth for both ...
Budget reflects PM Narendra Modi`s vision for India`s growth: MP Finance Minister
Budget reflects PM Narendra Modi`s vision for India`s growth: MP Finance Minister
Source: IANS
2024-07-24 10:27:09 am
IANS Interview: Budget reflects thoughtful handling of economy by PM Narendra Modi, says Ashwini Vaishnaw  Union Railway Minister Ashwini Vaishnaw on Tuesday hailed the Union Budget 2024-25 as middle-class oriented, forward-looking and described the government's unprecedented push on the jobs and employment generation as a key step to the country’s intensive growth and prosperous future.  He added that the Budget reflects the thoughtful handling of the economy by Prime Minister Narendra Modi. In an exclusive conversation with IANS, the Union Minister said, “In the ...
IANS Interview: Budget reflects thoughtful handling of economy by PM Narendra Modi, says Ashwini Vaishnaw
IANS Interview: Budget reflects thoughtful handling of economy by PM Narendra Modi, says Ashwini Vaishnaw
Source: IANS
2024-07-24 10:19:50 am
This Budget key to make India a developed nation: Haryana CM  Haryana Chief Minister Nayab Singh Saini on Tuesday said that the first full Budget of the NDA government under the leadership of Prime Minister Narendra Modi aims to fulfil the hopes and aspirations of the poor, women, farmers, and youth.    “The Budget 2024-25 will be a key to making India a developed nation,” the Chief Minister said. He said that this Budget will prove to be beneficial for all sections of society, strengthening the country's economy...
This Budget key to make India a developed nation: Haryana CM
This Budget key to make India a developed nation: Haryana CM
Source: IANS
2024-07-24 10:09:41 am
Union Budget 2024-25 - Real Estate Had Hoped for More, Sees Marginal Benefits by Anuj Puri, Chairman - ANAROCK Group Covering a wide spectrum of Indian sectors, the first Union Budget of Modi 3.0 focuses on MSMEs, employment, skilling, youth, and the middle class. It will generate a mixed bag of reactions from different sectors. From a real estate point of view, the first thing that stands out is the government’s continued focus on infrastructure with an allocation of over INR 11.11 lakh crore - nearly 3.4% of India’s GDP. Improved infrastructure drives real estate growth. The focus on rural ...
Union Budget 2024-25 - Real Estate Had Hoped for More, Sees Marginal Benefits by Anuj Puri, Chairman - ANAROCK Group
Union Budget 2024-25 - Real Estate Had Hoped for More, Sees Marginal Benefits by Anuj Puri, Chairman - ANAROCK Group
Source: ANAROCK Group
2024-07-24 10:03:43 am
Budget: Leading tea body welcomes scheme for welfare of tea workers  The Tea Association of India (TAI), the largest tea industry body in India, on Tuesday welcomed the scheme “Pradhan Mantri Cha Shramik Protsahan Yojana'' (PMCSPY)”, announced in the Central budget 2024-25 devised for the welfare of tea workers especially women and their children in tea growing areas including Assam and West Bengal.   TAI Secretary General P.K. Bhattacharjee said that as proposed earlier in the Budget Speech of 2021-22, Rs 1,000 crores woul...
Budget: Leading tea body welcomes scheme for welfare of tea workers
Budget: Leading tea body welcomes scheme for welfare of tea workers
Source: IANS
2024-07-24 09:59:07 am
Realty sector hails Union Budget, calls it vibrant & visionary The Indian realty sector has largely given a thumbs up to the Union Budget 2024-2025 presented in the Parliament on Tuesday by Finance Minister Nirmala Sitharaman, terming it visionary and vibrant which will sustain India’s growth story over the next five years.  The President of the Confederation of Real Estate Developers Association of India, Boman Irani, said that with the PM Awas Yojana-Urban, the housing needs of one crore poor and middle-class families will be addressed wi...
Realty sector hails Union Budget, calls it vibrant & visionary
Realty sector hails Union Budget, calls it vibrant & visionary
Source: IANS
2024-07-24 09:53:41 am
Government needs to consider GST exemption for all cancer drugs, says Kiran Mazumdar Shaw Biocon and Biocon Biologics Chairperson Kiran Mazumdar Shaw, welcoming the removal of Customs duty on three cancer drugs in the Union Budget 2024-25, on Tuesday said the government needs to consider GST exemption for all cancer drugs.  "The removal of Customs duty on three cancer drugs will provide relief to cancer patients. However, the government needs to consider GST exemption for all cancer drugs to make cancer care more affordable for patients," she said in a statement....
Government needs to consider GST exemption for all cancer drugs, says Kiran Mazumdar Shaw
Government needs to consider GST exemption for all cancer drugs, says Kiran Mazumdar Shaw
Source: IANS
2024-07-24 09:48:41 am
Rs 7545 cr allocated to Maha, Oppn reacted without reading Budget: Deputy Chief Minister Maharashtra Deputy Chief Minister Devendra Fadnavis on Tuesday said that the state’s opposition has reacted to the Budget without reading it.   “We have a slew of state projects which have got the budgetary allocation of Rs 7,545 crore. Our opposition leaders reacted without reading the Budget,” the Deputy Chief Minister said.  He also gave a list of the projects and their allocated funds: Irrigation projects in Vidarbha Marathwada (Rs 600 crore), Maharash...
Rs 7545 cr allocated to Maha, Oppn reacted without reading Budget: Deputy Chief Minister
Rs 7545 cr allocated to Maha, Oppn reacted without reading Budget: Deputy Chief Minister
Source: IANS
2024-07-24 09:41:26 am
A Budget for employment generation The 2024-25 Budget, unveiled by Finance Minister Nirmala Sitharaman on Tuesday, strategically aims to boost India's economic landscape, focusing on job creation, fiscal consolidation, and infrastructure development.  It reflects the government's resolve to build a resilient economy capable of withstanding global challenges. This Budget not only aims to stimulate growth across diverse sectors, but also includes a comprehensive plan prioritising the welfare of the underprivil...
A Budget for employment generation
A Budget for employment generation
Source: IANS
2024-07-24 09:30:11 am
Budget in line with our quest for sustainable inclusive growth: FICCI Raj State Council The Union budget sets up the roadmap for nine priority areas for Viksit Bharat.   "The emphasis on skilling, infrastructure, MSME, and energy transition is in sync with our quest for sustainable and inclusive growth," said Ashok Kajaria, Chairman, FICCI Rajasthan State Council and CMD, Kajaria Ceramics Ltd. MSMEs form the backbone of Rajasthan’s industrial ecosystem and access to affordable finance is one of the key issues faced by them. The Credit Guarantee Scheme ...
Budget in line with our quest for sustainable inclusive growth: FICCI Raj State Council
Budget in line with our quest for sustainable inclusive growth: FICCI Raj State Council
Source: IANS
2024-07-24 09:26:29 am
Budget will steer India towards sustainable path: Experts The Union Budget 2024-25 presented by Finance Minister Nirmala Sitharaman on Tuesday included several key initiatives like energy transition pathways, climate finance, improving water resources management, and measures related to irrigation and flood management that will boost India's fight against impacts of climate change, say climate and energy experts.   While the budget lacked details on crucial announcements related to carbon pricing, the use of nuclear power or even how ...
Budget will steer India towards sustainable path: Experts
Budget will steer India towards sustainable path: Experts
Source: IANS
2024-07-24 09:20:17 am
Budget to create opportunities, unlock multipliers for economy: BSE MD and CEO Sundararaman Ramamurthy, the Managing Director and Chief Executive Officer (CEO) of the Bombay Stock Exchange (BSE) lauded the Union Budget and its nine priorities for thrust on the middle-class and inclusiveness of all segments including poor, youth, women and farmers – the four pillars of ‘Viksit Bharat’, as often underlined in PM Modi’s speeches.  The MD and CEO of the country’s leading stock exchange said that he finds the Budget “forward-lookin...
Budget to create opportunities, unlock multipliers for economy: BSE MD and CEO
Budget to create opportunities, unlock multipliers for economy: BSE MD and CEO
Source: IANS
2024-07-24 09:15:48 am
FICCI-NEAC says budget announcements will boost linkages of NE with rest of India  Leading industry body FICCI North East Advisory Council (NEAC) on Tuesday hailed the Union budget saying that it has taken positive steps towards the holistic development of the northeastern states.    FICCI-NEAC Chairman Ranjit Barthakur said that significant allocations for infrastructure and connectivity, particularly the Rs 1.11 lakh crore for capital expenditure and specific assistance for flood management in Assam in the budget would bridge the regional disparities an...
FICCI-NEAC says budget announcements will boost linkages of NE with rest of India
FICCI-NEAC says budget announcements will boost linkages of NE with rest of India
Source: IANS
2024-07-24 09:08:12 am
Budget will give ample opportunity for parallel growth of MP: Chief Minister Madhya Pradesh Chief Minister Mohan Yadav hailed Prime Minister Narendra Modi and Union Finance Minister Nirmala Sitharaman for the Budget on Tuesday. The Chief Minister said the Centre has tried to reduce the burden of inflation, especially from the people belonging to lower income categories and salaried class. He said the control over inflation is the need of the hour and PM Modi’s government has taken this step through its Budget. “The framework of the annual Budget indi...
Budget will give ample opportunity for parallel growth of MP: Chief Minister
Budget will give ample opportunity for parallel growth of MP: Chief Minister
Source: IANS
2024-07-23 05:48:05 pm
Rajasthan Chief Minister hails `public welfare Budget`, terms it vision for developed India Rajasthan CM Bhajanlal Sharma on Tuesday hailed the Union Budget, saying it is a public welfare Budget that will pave the way for making India a $5 trillion economy.  In a post on social media platform X, the Chief Minister wrote in Hindi, "This Budget is a vision of a 'developed India', a firm resolve towards Antyodaya, and a 'roadmap' to make the 'new India' the pioneer of global development. Thanking Prime Minister Narendra Modi and Union Finance Min...
Rajasthan Chief Minister hails `public welfare Budget`, terms it vision for developed India
Rajasthan Chief Minister hails `public welfare Budget`, terms it vision for developed India
Source: IANS
2024-07-23 05:47:39 pm
Bihar Deputy Chief Minister thanks Centre for infrastructure projects After the Central government announced on Tuesday several infrastructure projects for Bihar, Deputy Chief Minister Samrat Choudhary, who is also the state's Finance Minister, expressed gratitude to Prime Minister Narendra Modi and Union Finance Minister Nirmala Sitharaman for their support. “The Union Finance Minister Nirmala Sitharaman has addressed every sector for the development of Bihar, whether it be three expressways, medical colleges, or new airports. I want to thank PM N...
Bihar Deputy Chief Minister thanks Centre for infrastructure projects
Bihar Deputy Chief Minister thanks Centre for infrastructure projects
Source: IANS
2024-07-23 05:44:02 pm
Centre`s 8-point booster for MSMEs to help them compete globally In a booster for micro, small and medium enterprises (MSMEs), the government on Tuesday formulated a detailed package that covers financing, regulatory changes and technology support for them to grow and also compete globally.  Among the measures are a credit guarantee scheme for facilitating term loans to MSMEs for purchase of machinery and equipment without collateral or third-party guarantee. The scheme will operate on pooling of credit risks of such MSMEs, stated Finance Minist...
Centre`s 8-point booster for MSMEs to help them compete globally
Centre`s 8-point booster for MSMEs to help them compete globally
Source: IANS
2024-07-23 05:38:19 pm
Budget focuses on job creation, education for youngsters: Punjab BJP chief Punjab BJP President Sunil Jakhar on Tuesday lauded the Budget, saying that it is an abiding promise towards achieving the inclusive vision of ‘Viksit Bharat’.  He said that the Budget focuses on job creation and education for youngsters, agriculture resilience and tax relaxations for salaried people which would lead to overall development and prosperity for everyone. Jakhar also lauded Prime Minister Narendra Modi for his foresight, pragmatism and prudence, which is th...
Budget focuses on job creation, education for youngsters: Punjab BJP chief
Budget focuses on job creation, education for youngsters: Punjab BJP chief
Source: IANS
2024-07-23 05:34:30 pm
Budget will strengthen foundation of Aatmanirbhar Bharat: Union Minister Union Culture and Tourism Minister Gajendra Singh Shekhawat on Tuesday said that the Budget will further strengthen the foundation of Aatmanirbhar Bharat. “The Union Budget presented by our Fin Min Smt. @nsitharaman ji today envisages sustained efforts on 9 priorities for generating ample opportunities for all. It is a budget that strengthens the foundation of Aatmanirbhar Bharat as has been laid over the last decade of our PM Shri @narendramodi’s governance,” the Union M...
Budget will strengthen foundation of Aatmanirbhar Bharat: Union Minister
Budget will strengthen foundation of Aatmanirbhar Bharat: Union Minister
Source: IANS
2024-07-23 05:30:34 pm
Top industry chambers laud fiscal consolidation, tax reforms, job creation Leading industry chambers on Tuesday lauded the Union Budget 2024-2025, saying it is a people-centric budget which balances equitable growth with fiscal sustainability.   Sanjay Nayar, President of Assocham, said with no easy giveaways, the budget focuses on a longer, more sustainable path of job creation through manufacturing in the country and a strengthened role of the MSMEs.  "Skilling the youth, formalising job creation, continued infrastructure spending, and urban d...
Top industry chambers laud fiscal consolidation, tax reforms, job creation
Top industry chambers laud fiscal consolidation, tax reforms, job creation
Source: IANS
2024-07-23 05:26:50 pm
India budget shifts spending priorities while keeping fiscal deficit in check India struck a balance between greater spending on jobs and rural development as well as transferring more funds to states, while narrowing the fiscal deficit, the 2024-25 budget unveiled on Tuesday showed. The budget comes on the heels of last month's election setback in which Prime Minister Narendra Modi's Bharatiya Janata Party (BJP) returned to power only with the help of allies. The government expects the economy to grow at 10.5% in nominal terms, which includes inflation, ...
India budget shifts spending priorities while keeping fiscal deficit in check
India budget shifts spending priorities while keeping fiscal deficit in check
Source: Reuters
2024-07-23 05:05:18 pm
India spends billions on jobs, key allies in first budget after election India unveiled spending of billions of dollars to create new jobs and satisfy key coalition partners in the first budget by Prime Minister Narendra Modi's government after an election setback, aiming to win back voters and retain political support. Among a host of tax changes were an increased levy on equity investments to allay concerns of an overheating market, but also lower taxes for foreign companies, in a bid to lure investment. The outlays included $32 billion for rural progr...
India spends billions on jobs, key allies in first budget after election
India spends billions on jobs, key allies in first budget after election
Source: Reuters
2024-07-23 05:02:37 pm
India lowers fiscal deficit target to 4.9% of GDP for FY25 The Indian government on Tuesday lowered its fiscal deficit target to 4.9% of GDP for the financial year ending March 2025, from 5.1% in the interim budget in February, aided by a hefty surplus transfer from the central bank and robust tax revenues. The fiscal target was part of India's federal budget, announced on Tuesday by Finance Minister Nirmala Sitharaman. WHY IT'S IMPORTANT The target signals the government's intention to remain fiscally prudent despite expectation...
India lowers fiscal deficit target to 4.9% of GDP for FY25
India lowers fiscal deficit target to 4.9% of GDP for FY25
Source: Reuters
2024-07-23 04:41:56 pm
Budget advances goal of Viksit Bharat: EAM Jaishankar External Affairs Minister S. Jaishankar on Tuesday congratulated Union Finance Minister Nirmala Sitharaman for presenting a Budget that "advances the goal of a Viksit Bharat" and responds to the aspirations of the people who have given the NDA government a third successive mandate.  "The 9 priorities highlighted by the Finance Minister will contribute to India's Comprehensive National Power. It will enhance our profile at the international stage," said EAM Jais...
Budget advances goal of Viksit Bharat: EAM Jaishankar
Budget advances goal of Viksit Bharat: EAM Jaishankar
Source: IANS
2024-07-23 04:41:19 pm
Reactions to India`s 2024/25 budget India struck a balance between greater spending on jobs and rural development while narrowing the fiscal deficit in its 2024-25 budget unveiled on Tuesday. The government will spend $24 billion on job-spurring efforts over the next five years and $32 billion on rural development this year alone, Finance Minister Nirmala Sitharaman said while presenting the budget to parliament. Following are reactions from industry executives, experts, fund managers and economists: KARTHIK SRINIVASAN...
Reactions to India`s 2024/25 budget
Reactions to India`s 2024/25 budget
Source: Reuters
2024-07-23 04:38:52 pm
9 priorities of Union Budget: FM unveils road map for 'Viksit Bharat’ Finance Minister Nirmala Sitharaman, presenting her seventh-consecutive Budget and her first in Modi 3.0, spotlighted nine priority areas for generating ample opportunities for all.  She also said that these nine priorities of Union Budget 2024 will form the foundation for future Budgets of the Modi government. The nine priority areas include: Productivity and resilience in agriculture; employment and skilling; improved human resources; social justice; manufacturing and services; u...
9 priorities of Union Budget: FM unveils road map for 'Viksit Bharat’
9 priorities of Union Budget: FM unveils road map for 'Viksit Bharat’
Source: IANS
2024-07-23 04:36:00 pm
Budget focuses on fostering stable & mature equity investment environment In a bid to foster a more stable and mature investment environment, the government on Tuesday announced an increase in security transactions tax (STT) on futures and options trading, which is in line with the suggestions made by the Economic Survey 2023-2024.  Presenting the Union Budget 2024-2025, the Finance Minister announced a couple of proposals for deepening the tax base. "First, Security Transactions Tax on futures and options of securities is proposed to be increased t...
Budget focuses on fostering stable & mature equity investment environment
Budget focuses on fostering stable & mature equity investment environment
Source: IANS
2024-07-23 04:25:52 pm
Union Budget-2024 will give a boost to overall economic growth: AiMeD The Union Budget-2024 is visionary and progressive and will help boost the country's overall economic growth, said the Association of Indian Medical Device Industry (AiMeD) on Tuesday.  The Union Budget-2024 presented by Finance Minister Nirmala Sitharaman in the Parliament "reflects the determination of Prime Minister Narendra Modi to realise the goal of a $10 trillion economy by 2030 and Viksit Bharat by 2047", said Rajiv Nath, AiMeD Forum Coordinator, in a statement. ...
Union Budget-2024 will give a boost to overall economic growth: AiMeD
Union Budget-2024 will give a boost to overall economic growth: AiMeD
Source: IANS
2024-07-23 04:19:57 pm
India slashes import tax on gold, silver to tackle smuggling India slashed import duties on gold and silver on Tuesday in a move industry officials said could lift retail demand and help cut smuggling in the world's second-biggest bullion consumer. Higher demand for gold from India could boost global prices, which hit a record high this year, although that could widen India's trade deficit and put pressure on its ailing rupee. "It's a massive step in (the) right direction, as it will reduce the incentives for smuggling of gold. I...
India slashes import tax on gold, silver to tackle smuggling
India slashes import tax on gold, silver to tackle smuggling
Source: Reuters
2024-07-23 03:54:22 pm
Budget 2024: Rs 1,000 crore VC fund to take Indian space startups to a higher orbit In order to take the Indian space sectors to a higher orbit, Union Finance Minister Nirmala Sitharaman on Tuesday said the government will set up a Rs 1,000 crore venture capital (VC) fund.  Presenting her seventh budget for the country, she said the Union government will set up a Rs 1,000 crore venture capital fund to finance the space economy. Reacting to the announcement, Vishesh Rajaram, Managing Partner, Speciale Invest said: "We strongly believe that an INR1000 crore fun...
Budget 2024: Rs 1,000 crore VC fund to take Indian space startups to a higher orbit
Budget 2024: Rs 1,000 crore VC fund to take Indian space startups to a higher orbit
Source: IANS
2024-07-23 03:52:25 pm
Union Budget: Health experts hail Centre's move to exempt customs duty on cancer drugs Calling it a welcome step, oncologists on Tuesday hailed the Central government’s move to exempt customs duty on three more cancer drugs.  The three drugs are Trastuzumab deruxtecan (for breast cancer), Osimertinib (lung cancer drug for EGFR mutation), and Durvalumab (for lung and biliary tract cancers). Deruxtecan drug can be used in all cancers with Her2 positive gene Speaking to IANS, Jyotsna Govil, Chairperson of the Indian Cancer Society said that the exemption has &ldqu...
Union Budget: Health experts hail Centre's move to exempt customs duty on cancer drugs
Union Budget: Health experts hail Centre's move to exempt customs duty on cancer drugs
Source: IANS
2024-07-23 03:47:40 pm
India announces credit guarantee scheme for small industries in manufacturing India, on Tuesday, announced a credit guarantee scheme to help manufacturing-focussed medium and small enterprises (MSME) buy machinery and other equipment without offering collateral. "The scheme will operate on pooling of credit risks of such MSMEs," Finance Minister Nirmala Sitharaman said while announcing the federal budget for 2024-25. A separately constituted self-financing guarantee fund will provide each applicant a guarantee cover of up to 1 billion rupees (about $12 ...
India announces credit guarantee scheme for small industries in manufacturing
India announces credit guarantee scheme for small industries in manufacturing
Source: Reuters
2024-07-23 03:42:52 pm
Union Budget 2024: What becomes cheaper and what’s costlier? With Finance Minister Nirmala Sitharaman announcing a major reduction in customs duty on cancer drugs and mobile phones, it is set to considerably bring down their prices in the market. The three cancer drugs are Trastuzumab deruxtecan, Osimertinib and Durvalumab.  The Finance Minister also announced a reduction of customs duty on mobile phones and mobile chargers to 15 per cent. “The government will exempt three cancer treatment drugs from customs duty. I will also reduce ba...
Union Budget 2024: What becomes cheaper and what’s costlier?
Union Budget 2024: What becomes cheaper and what’s costlier?
Source: IANS
2024-07-23 03:33:05 pm
Union Budget 2024: Government to exempt three more cancer drugs from customs duty In a big relief to cancer patients, Union Finance Minister Nirmala Sitharaman, while presenting the Union Budget 2024, exempted customs duty on three cancer drugs.  The three drugs are Trastuzumab deruxtecan, Osimertinib and Durvalumab. The reduction in customs duty may help reduce the financial burden on those battling the deadly disease. In her seventh budget speech, the Union Minister also called for exemptions in custom duties on X-ray tubes and flat panel detectors. "I...
Union Budget 2024: Government to exempt three more cancer drugs from customs duty
Union Budget 2024: Government to exempt three more cancer drugs from customs duty
Source: IANS
2024-07-23 03:21:05 pm
Review of Income Tax Act announced in Union Budget Finance Minister Nirmala Sitharaman announced a review of the Income Tax Act 1961 in Budget proposals for 2024-25.  “I am now announcing a comprehensive review of the Income-tax Act, 1961. The purpose is to make the Act concise, lucid and easy to read and understand. This will reduce disputes and litigation, thereby providing tax certainty to the taxpayers. It will also bring down the demand embroiled in litigation. It is proposed to be completed in six months,” she said i...
Review of Income Tax Act announced in Union Budget
Review of Income Tax Act announced in Union Budget
Source: IANS
2024-07-23 03:14:45 pm
Union Budget: Finance Minister pledges to assign ULPIN to all land in rural areas Finance Minister Nirmala Sitharaman on Tuesday, while presenting the Union Budget in Parliament, announced a slew of land-related reforms and action proposals, including assigning Unique Land Parcel Identification Number (ULPIN) to all land in rural areas.  The 14-digit Unique Land Parcel Identi?cation Number is part of the Digital India Land Records Modernisation Programme (DILRMP) and is accorded to a land parcel based on its longitude and latitude coordinates. Its allotment depe...
Union Budget: Finance Minister pledges to assign ULPIN to all land in rural areas
Union Budget: Finance Minister pledges to assign ULPIN to all land in rural areas
Source: IANS
2024-07-23 03:08:09 pm
Union Budget gives major push to job creation with focus on youth, women & farmers Finance Minister Nirmala Sitharaman on Tuesday presented the Union Budget 2024 in Parliament aimed at giving a major push to job creation with a focus on the country’s youth, empowering women and improving the incomes of farmers.  The Finance Minister announced a Prime Minister’s package of five schemes aimed at facilitating employment and skilling, with an allocation of Rs 2 lakh crore. The budget has allocated as much as Rs 3 lakh crore in programmes that will enable ...
Union Budget gives major push to job creation with focus on youth, women & farmers
Union Budget gives major push to job creation with focus on youth, women & farmers
Source: IANS
2024-07-23 03:02:09 pm
India unveils 10 billion rupee venture capital fund for space sector India will set up a 10 billion rupee ($119 million) venture capital fund to expand its space sector, Finance Minister Nirmala Sitharaman said on Tuesday, as the country sets its sights on a larger share of the global space market. Earlier this year, Prime Minister Narendra Modi's government allowed 100% foreign direct investment in the manufacture of satellite systems without official approval and eased the rules for launch vehicles. "With our continued emphasis on expanding th...
India unveils 10 billion rupee venture capital fund for space sector
India unveils 10 billion rupee venture capital fund for space sector
Source: Reuters
2024-07-23 02:52:45 pm