Views on budget Markets - Debt & Equity & Sectors Outlook by Tata Mutual Fund
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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. 15,000 crore in the current financial year.
Infra boost for Bihar: Rs 26,000 crore package to suppo the development of road connectivity projects
Rs 1.52 trillion allocated for agriculture and allied sectors. New 109 high-yielding and climate-resilient varieties of 32 field and cultivation crops will be released for farmers.
Rs 3 trillion allocation announced for women-centric schemes.
Pradhan Mantri Garib Kalyan Anna Yojana: Extended till 2029. The government allo ed Rs. 2,05,250 crore
Mudra loan limit increased from Rs 10 lakh to Rs 20 lakh for those who successfully repaid loans under the TARUN category
Three new employment-linked schemes proposed with Rs 2 trillion allocation for job creation over five years.
Investment of Rs. 10 lakh crore under the PM Awas Yojana-Urban 2.0. Three crore additional houses in rural and urban areas.
Over Rs. 11 lakh crore capital expenditure allocated on infrastructure (3.4 per cent of GDP)
Tourism in focus: ~ Rs 2,450 crores earmarked, 44.7 per cent more alloed from previous allocation
New tax structure revised, saving taxpayers Rs 17,500. Standard deduction for salaried employees from Rs.50,000 to Rs.75,000. Deduction of expenditure by employers towards NPS increased to 14 per cent LTCG exemption limit increased to Rs. 1.25 lakh |STCG Increased to 20% |
LTCG Increased to 12.5% |-Security Transaction Tax On F&O Increased To 0.02% & 0.1% Income received on buy back of shares in the hands of recipient to be taxed.
No indexation benefit on real estate sale
Customs duty: Fully exempted on three additional cancer medicines; reduced on mobile devices and accessories; reduced 6 percent on gold and silver; increased on plastic products
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