Source: https://www.livemint.com/economy/budget-in-5-minutes-11706848155581.html
On 1 February, finance minister Nirmala Sithamran presented her sixth budget. Her budget speech was all of 5,244 words and shorter in comparison to the five speeches she gave before this one. Notwithstanding the shorter duration of the speech, the interim budget did have its interesting points. Mint examines a few major ones.
Read MoreIn a significant announcement during the Interim Budget 2024-25, Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, highlighted the remarkable success of the Goods and Services Tax (GST) regime in India. The minister emphasized the positive impact of GST on trade and industry, reducing compliance burdens and optimizing supply chains.
Read MoreThe Ministry of Finance has released the latest figures for GST collections in January 2024, revealing a noteworthy growth and marking a significant milestone in the fiscal year 2023-24.
Read MoreTwo sets of data released by the government on the eve of the interim budget painted a picture of healthy fiscal performance.
Read MoreWith overall collection reaching ₹16.69 lakh crore, GST collections register 11.6% Y-o-Y growth in 10-month period
Read MoreIndian stock market: The Indian stock market is expected to open on a cautious note on Thursday ahead of the announcement of Union Budget 2024 today and amid weak global market cues.
Read MoreNew Delhi: The interim budget for FY25 on Thursday announced an over seven-fold increase in allocation for the automotive industry's PLI scheme, but reduced the outlay for the Faster Adoption and Manufacturing of Hybrid & Electric Vehicles (FAME) scheme by over 44%.
Read MoreUnion Finance Minister Nirmala Sitharaman is all set to present the Interim Budget 2024 on February 1. In an interaction with Livemint, co-chair of India Edtech Consortium (IEC) and co-founder of Physics Wallah Prateek Maheshwari speaks about artificial intelligence (AI) integration in the edtech sector. Maheshwari also shared his expectations from the Interim Budget. Edited excerpts from the interview.
Read MoreAs is usual around this time of the year, the expectations of the taxpayers’ skyrocket for concessions in tax and other favourable changes in the income-tax law from the budget, and this year is no different, in fact, more so, as we are in an election year. This, despite the fact, that technically the government, in an election year, is required to present a “Vote on Account" budget to get Parliament approval to tide through the government expenses until the budget is presented in July by the newly elected government.
Read MoreFinance Minister Nirmala Sitharaman will present the interim budget on Thursday (February 1). Expectations for Budget 2024 include advocating for a progressive tax structure, targeted relief for SMEs, promoting digital transactions, and reviewing the GST structure. Tax incentives for sustainable practices and strategic investments in social sectors are also proposed.
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