Finance Minister Nirmala Sitharaman announced that there will be no change in the tax rates for both direct and indirect taxes.
She said that the number of tax filers has swollen 2.4 times and the direct tax collection has trebled since 2014. Regarding the processing time of tax return, she informed that the days have been reduced to 10 days from 93 days in 2014.
The fiscal deficit for 2024-25 is estimated at 5.1 per cent of GDP against 5.8 per cent in the current financial year, Finance Minister Nirmala Sitharaman said on Thursday.
Presenting the interim Budget 2024-25, Sitharaman said tax receipts for 2024-25 projected is projected at Rs 26.02 lakh crore.
She informed that the fiscal deficit in FY24 is expected at 5.8 per cent of GDP, down from 5.9 per cent estimated earlier.
The Union government's fiscal deficit touched Rs 9.82 lakh crore or 55 per cent of the annual Budget target at December-end 2023. In the corresponding period last year, the deficit was 59.8 per cent of the budget estimates for 2022-23.
- Finance Minister Nirmala Sitharam tabled the interim budget in the Parliament. As she had said earlier as well, the government refrained from making any big announcements in the interim budget.
- The key highlight from the budget is the Finance Minister's decision to withdraw pre-FY10 disputed tax demands of up to Rs 25,000 and up to Rs 10,000 for the period of FY11 to FY15.
- I have decided not to make any changes to tax rates
- Withdrawing pre-FY10 disputed tax demand of up to Rs 25,000 and up to Rs 10,000 for FY11 to FY15.
We are negotiating free trade agreements with several partners with the spirit of 'First Develop India'
- 40,000 regular train coaches to be upgraded to 'Vande Bharat' standard
- Vision for Viksit Bharat is that of prosperous Bharat, in harmony with nature, with modern infrastructure and providing opportunities for all to reach their potential
- Next five years will be years of unprecedented development and golden moments to realize the goal of developed India by 2047
- Trinity of democracy, demography and diversity backed up by Sab Ka Prayaas has the potential to fulfill aspirations of every Indian
- All forms of infrastructure are being built in record time
- All parts of the country are becoming active participants in economic growth
- Digital public infrastructure is instrumental in formalization of the economy
- GST has enabled 'One Nation One Market One Tax'
- Making Triple Talaq illegal, one third women's reservation in Lok Sabha and state assemblies, giving over 70% houses under PM Awas Yojana in rural areas to women as sole or joint owners have enhanced their dignity
- PM Mudra Yojana has sanctioned 43 crore loans amounting to Rs. 22.5 lakh crore for entrepreneurial aspirations of our youth
- Fund of Funds, Startup India and Startup Credit Guarantee Schemes are assisting our youth
- The National Education Policy 2020 is ushering transformational reforms
- PM Shri is delivering quality teaching
- Skill India Mission has trained 1.4 crore youth, upskilled and reskillled 54 lakh youth and established 3,000 new ITIs
- Large no. of institutions of higher learning namely 7 IITs, 16 IIITs, 7 IIMs, 15 AIIMSs and 390 universities have been set up
Electronic national agricultural market has integrated 1,361 mandis and is providing services to 1.8 crore farmers with trading volume of 3 lakh crores of rupees. The sector is poised for inclusive and higher growth: Finance Minister
In the last 10 years, the government has helped 25 crore people to come out of multi-dimensional poverty, says Finance Minister Nirmala Sitharaman.
"We are working to make India 'Viksit Bharat' by 2047" says Finance Minister Nirmala Sitharaman as she delivers her sixth budget speech.
We are now just minutes away from Finance Minister Nirmala Sitharaman's budget speech. Meanwhile, Congress leader Sonia Gandhi has reached the Parliament.
Union Cabinet approves the Interim Budget. Finance Minister Nirmala Sitharaman will present the Budget in the House, shortly.
As we await Finance Minister Nirmala Sithraman's speech, the stock market is trading in the green. The Nifty is up around 0.3% at 21,787. The Sensex is trading at around 72,000.
Finance Minister Nirmala Sitharaman has reached the parliament. She is set to deliver her sixth consecutive budget today. This is an interim budget ahead of the 2024 Lok Sabha elections. What's the difference between an interim budget and a full budget? Read here
Indian stock market opened in the green ahead of the interim budget. However, now Indian equities are trading flat. The Nifty is trading around 21,735, and the Sensex is hovering around 71,740.
As we count down to the FM's budget speech, let us quickly take you through some of the key budget terms. Here's @avniraja explaining what's 'Fiscal Deficit.'
We have been telling you about the things that you may expect from the budget. However, there are certain measures that are unlikely. What are those? What not to expect from this budget? Read here
Good morning everyone. Finance Minister Nirmala Sitharaman is set to present interim budget 2024 this morning. This will be her sixth budget presentation. We at editorji will keep bringing you all the updates in the run up to the budget presentation and the highlights from the FM's speech. Stay tuned.
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