Union Budget 2024: Finance Minister Nirmala Sitharaman is the first full-time woman finance minister in India and has presented five full budgets since July 2019.
Union Finance Minister Nirmala Sitharaman will be presenting her sixth budget on February 1, 2024.
There is a disparity in employers' contributions to building the corpus for employees currently, with contributions up to 10 per cent of basic salary and dearness allowances being exempt from tax for NPS contributions.
The government has allocated a record-high provision of Rs 10 lakh crore for capital expenditure in FY24, a significant increase from Rs 4.39 lakh crore in FY21.
The government might introduce support measures for sustainable growth in income for rural households, enhancing disposable income in the rural economy, according to Deloitte's budget expectations report.
The Finance Minister has indicated that the interim budget 2024 will not include major announcements and that it will be a vote-on-account to meet the government's expenses until a new government is in place.
Union Budget 2024: The budget is expected to include various financial indicators, including inflation, fiscal deficits, capital expenditures, revenue receipts, bad loans, and more.
The interim budget to be presented by Union Finance Minister Nirmala Sitharaman is expected to feature fiscal measures, including potential tax reductions, aimed at tackling rising prices and addressing ongoing inflationary trends.
Interim Budget will be presented on February 1 in Lok Sabha. This will be the last Interim Budget of this tenure of the Narendra Modi government at Centre, as Lok Sabha polls are scheduled to take place this year.
Last financial year, the RBI had paid an interim dividend of Rs 10,000 crore to the Centre.
Goyal also announced relief for realty firms by extending tax rebate on development of affordable housing until next fiscal and not charging tax for two years on notional rent of unsold units.
A sum of Rs 30.26 crore was allocated for transparency watchdog Central Information Commission (CIC) and the government's head-hunter Public Enterprises Selection Board (PESB) for the next fiscal to meet their establishment- related expenditure.
In the interim budget presented by Finance Minister Piyush Goyal, the overall sports budget for 2019-2020 was increased from Rs 2002.72 (2018-2019) crore to Rs 2216.92 crore.
The state revenues, he said, are improving with guaranteed 14 per cent annual revenue increase for the first five years from the implementation of GST.
Finance Minister doled out tax sops to middle class including doubling of income tax exemption limit to Rs 5 lakh, raising standard deduction to Rs 50,000 and provided concessions on interest income from bank deposits and rent.
The biggest Easter egg in Piyush Goyal’s populist kitty was for individual tax payers. Revising the income slab to give relief to over 3 crore tax payers, the Modi government today proposed a full tax rebate on annual income upto Rs 5 lakhs.
The key highlights of the Interim Budget 2019 presented by Acting Finance Minister Piyush Goyal today was the full tax rebate to individuals with annual income upto Rs 5 Lakh.
The 'Know Your Budget' series, which explains the importance of Union Budget and its making, would continue for about a fortnight.
New Delhi: Cars, SUVs and two-wheelers will become expensive from January 1 with the government deciding not to extend the reduced excise duty rates provided to the sector."The government is not extending the excise duty
New Delhi: The interim budget presented by Finance Minister P. Chidambaram is expected to provide some relief in a situation where overall demand continues to remain subdued, the Confederation of Indian Industry (CII) has said.“However,
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