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.
Disenfranchisement by institutional fiat is profoundly undemocratic. The effect of the ECI's new documentary process in Bihar will tilt the scales in favour of the BJP.
Mini deal will likely see no cut in 10% baseline tariff on Indian exports announced by Trump on 2 April, it is learnt, but additional 26% tariffs are set to be reduced.
India-Russia JV is also racing to deliver 7,000 more AK-203 assault rifles by 15 Aug. These are currently being made with 50% indigenisation and this will surge to 100% by 31 December.
Public, loud, upfront, filled with impropriety and high praise sometimes laced with insults. This is what we call Trumplomacy. But the larger objective is the same: American supremacy.
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