UNION BUDGET
15 CRUCIAL TAKEAWAYS FROM BUDGET 2024-25
Published By Moushumi Mahanta | 23 Jul, 2024
Capital Expenditure
₹
11.11 lakh crore allocated, 3.4% of GDP, higher than last year’s
₹
9.5 lakh crore.
Credit : PIXABAY
Income Tax Changes
Standard deduction in the new regime increased to
₹
75,000 from
₹
50,000; revised tax rate structure introduced.
Credit : PEXELS
Capital Gains Tax
Long-term capital gains tax increased to 12.5%, short-term to 20%, with a
₹
1.25 lakh exemption limit.
Credit : UNSPLASH
STT on F&O
Securities Transaction Tax on Futures and Options raised to 0.02%.
Credit : UNSPLASH
Angel Tax Abolished
Government announces the abolition of Angel Tax.
Credit : PEXELS
Customs Duty Adjustments
Reduction on mobile phones and accessories to 15%; on gold and silver to 6%, platinum to 6.4%.
Credit : PEXELS
Employment and Skilling
₹
2 lakh crore for PM Package of five schemes;
₹
1.48 lakh crore for education, employment, and skilling.
Credit : PEXELS
Women Empowerment
₹
3 lakh crore allocated for women and girls; hostels and women-specific skilling programs to be set up.
Credit : PEXELS
Agriculture and Rural Development
₹
1.52 lakh crore for agriculture;
₹
2.66 lakh crore for rural development; natural farming initiative for 1 crore farmers.
Credit : PEXELS
Regional Assistance
Funding for Bihar and Andhra Pradesh, including
₹
26,000 crore for highways in Bihar and
₹
15,000 crore for Andhra Pradesh.
Credit : PEXELS
MSME Support
New term loan scheme,
₹
100 crore guarantee fund, technology support package, and 24 new SIDBI branches.
Credit : PEXELS
Financial Initiatives
Increased Mudra loan limit to
₹
20 lakh; higher education loans with e-vouchers and interest subvention.
Credit : PEXELS
Insolvency and Bankruptcy Code
New tech platform for IBC; recovered
₹
3.3 lakh crore for creditors.
Credit : PIXABAY
FDI Simplification
Rules for Foreign Direct Investments to be further simplified.
Credit : PIXABAY
Infrastructure and Development
Additional
₹
26,000 crore for road projects;
₹
10 lakh crore for affordable housing; focus on critical minerals and space economy expansion.
Credit : PEXELS
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