Bengaluru: The Bangalore Chamber of Industry and Commerce (BCIC) on Tuesday lauded the Union Budget 2024-25 as a comprehensive and forward-looking roadmap for India’s economic growth. In a statement, the BCIC expressed its satisfaction with the government’s proactive stance on several key areas, including MSME development, job creation, ease of doing business, and tax reforms….
New Delhi: The government on Tuesday proposed slashing import duty on mobile phones, chargers and some components that are used for manufacturing of handsets in the Union Budget for fiscal year 2024-25. Finance Minister Nirmala Sitharaman said with a three-fold increase in domestic production and almost 100-fold jump in exports of mobile phones over the…
New Delhi: The government has scrapped the Rs 30,000 crore equity infusion it had planned in state-owned fuel retailers after they made record profits in the fiscal year ended March 31, according to the Budget Finance Minister Nirmala Sitharaman presented on Tuesday. Sitharaman had on February 1 last year, while presenting the annual Budget for…
New Delhi: Giving a big relief to startups, the government on Tuesday announced removal of angel tax for all classes of investors to further promote the growth of budding entrepreneurs of the country. Angel tax refers to the income tax that the government imposes on funding raised by unlisted companies, or startups, if their valuation…
New Delhi: While the Bharatiya Janata Party (BJP) hailed the Union Budget-2024, calling it middle-class centric and a roadmap for growth, the Opposition disagreed. While the Congress alleged that the budget was copied from its manifesto for the recent Lok Sabha polls, the Trinamool Congress said it had left out the Opposition-ruled states. Top lawmakers…
New Delhi: The Union Budget for 2024-25 will provide Rs 1.48 lakh crore for education, employment and skilling in the country. Presenting the Budget in the Lok Sabha, Finance Minister Nirmala Sitharaman said it will focus on employment, skilling, MSMEs and the middle class. She added that the government has extended the PM Garib Kalyan…
New Delhi: The government on Tuesday said it will launch three employment-linked schemes. While presenting the Union Budget for 2024-25, Finance Minister Nirmala Sitharaman said the government will provide incentives to 30 lakh youth entering the job market by providing one month’s PF (provident fund) contribution. She announced that working women hostels will be set…
New Delhi: In sops for the middle class, Finance Minister Nirmala Sitharaman on Tuesday hiked standard deduction by 50 per cent to Rs 75,000 and tweaked tax slabs under the new income tax regime to provide more money in the hands of salaried class with a view to boost consumption. She said salaried employees in…
New Delhi: Finance Minister Nirmala Sitharaman on Tuesday said appropriate changes will be made to the Insolvency and Bankruptcy Code (IBC) and steps will be taken to strengthen tribunals in the country. She also proposed integrated technology platform for improving outcomes under the Code, besides additional debt recovery tribunals to be set up in the…
New Delhi: The government will come out with a credit guarantee scheme for MSMEs to facilitate term loans without collateral or third party guarantee, Finance Minister Nirmala Sitharaman said on Tuesday. Presenting her seventh straight Union Budget, she also said that public sector banks to build in-house capability for credit assessment of MSMEs. As part…
