On 23-07-2024, Finance Minister Nirmala Seetharaman presented India’s Finance Budget for 2024-25 for record 7th time.
- Allocation to NHAI retained at ₹1.68 lakh crore for FY25
- Khelo India gets lion’s share of Budget allocation for sports
- Govt proposes ₹26,000 crore for various road projects in Bihar
- Defence budget pegged at ₹6.21 lakh crore for 2024-25
- Govt slashes import duty on mobile phones, chargers, some components
- FM says will evolve solution on New Pension Scheme to address relevant issues
- FM cuts customs duty on lithium, cobalt for energy transition
- Union Budget pledges ₹15,000 crore for AP capital Amaravati
- Customs duties on gold, silver slashed to 6 per cent in Budget 2024-25
- Jobs for youth, tax rejigs for salaried class
- Govt to abolish angel tax on investments in startups
- Customs duty on gold, silver cut to 6%
- ₹5,000 monthly internship allowance announced for 1 crore youth
- FM allocates ₹1.52 lakh cr for agri, allied sectors
- Budget provides ₹1.48 lakh cr for education, employment, skill
- Those under the new tax regime, have been given relaxation in the standard deduction limit from Rs 50,000 to Rs 75,000 while the deduction on family pension for pensioners has been enhanced from Rs Rs 15,000 to Rs 25,000/-
- 3 crore additional houses under PMAY have been announced
- 20% tax on STCG ( Previously it was 15%)
The revised tax rate under the New Tax Regime is as follows: – ₹0-3 lakhs – NIL – ₹3-7 lakhs – 5% – ₹7-10 lakhs – 10% – ₹10-12 lakhs – 15% – ₹12-15 lakhs – 20% – Above ₹15 lakhs – 30%
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