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.
Budget 2024: All eyes are on whether Finance Minister Nirmala Sitharaman provides the much-expected tax relief for the middle class, leaving more money in their hands, as there is tax buoyancy.
Budget 2024: These funds are among the top investment choices for both salaried individuals and the self-employed. They are the only mutual funds that qualify for a tax deduction under Section 80C of the Income Tax Act, 1961.
Budget 2024: Last year, the central government reduced import taxes on key components such as camera lenses to promote mobile phone manufacturing in India.
Budget 2024: Earlier this year, the Pension Fund Regulatory and Development Authority (PFRDA) emphasised the need to increase the guaranteed pension amount, expressing concerns about its adequacy in meeting future needs.
The industry has urged the Finance Minister to reduce corporate taxes, phase out tax exemptions, and broaden the tax base to promote economic growth.
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