6.8% increase in budget allocation for the education ministry compared to the previous fiscal. Upgrades to 1,000 ITIs and student internships in 500 top companies on the plate too.
25 minerals exempted from customs duty. Sitharaman also announced setting up of ‘Critical Mineral Mission’ for production, recycling, and overseas acquisition of mineral assets.
Creating small and modular reactors indicates a departure from traditional large-scale nuclear plants, thus offering more cost-effective and flexible power solutions.
Given the weakness in consumption and elevated inflation, Budget 2024 was expected to provide a cushion to individual taxpayers. Some comfort has been provided to those who opt for the new tax regime.
If there’s anything this budget lacks in, it’s economic messaging. There are no wide statements of reform, no mention of privatisation, disinvestment, no big tax cuts, incentives, deregulation.
Sensex ended at 80,429.04 points & Nifty at 24,479.05, both slightly lower than previous close. Many analysts had expected finance minister to keep long-term capital gains rate same.
Nirmala Sitharaman finally acknowledged the jobs emergency in her Budget 2024 speech, but the plans to provide employment for four crore youth over five years is characteristic Modi govt bombast.
SEBI probe concluded that purported loans and fund transfers were paid back in full and did not amount to deceptive market practices or unreported related party transactions.
Many really smart people now share the position that playing cricket with Pakistan is politically, strategically and morally wrong. It is just a poor appreciation of competitive sport.
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