Full budget sees sizeable increase in development aid to Sri Lanka, while assistance to Maldives sees drastic cuts from both 2023-24 revised estimates and 2024-25 interim budget.
Twenty-five critical minerals essential for sectors like nuclear energy, renewable energy, space, defence etc exempt from customs duties. Angel tax abolished, in boost for startups.
Govt raised tax rate for equity investments held for less than one year to 20% from 15% and for shares held for more than 12 months to 12.5% from 10% in the budget.
The target signals the government's intention to remain fiscally prudent despite expectations it may ramp up spending on welfare programs following a weaker than anticipated election victory for Modi.
Budget 2024: Apart from revising income tax rate structure, FM also proposed the abolishment of angel tax for start-ups, and unveiled big sops for Bihar and Andhra Pradesh.
The Budget Session of Parliament will commence Monday and subject to the exigencies of government business, the session is likely to conclude on 12 August.
Leaving interim budget largely unchanged would be in keeping with trend since 2004-05. Even when new parties have come to power, budgetary allocations have not changed substantially.
In Episode 1544 of CutTheClutter, Editor-in-Chief Shekhar Gupta looks at some top economists pointing to the pitfalls of ‘currency nationalism’ with data from 1991 to 2004.
Troops patrolled up to Patrolling Point (PP) 10 on Monday. Though there are PP 10, 11, 12, 12A & 13 in Depsang Plains, it was decided that only one or two PPs would be patrolled.
While we talk much about our military, we don’t put our national wallet where our mouth is. Nobody is saying we should double our defence spending, but current declining trend must be reversed.
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