Budget Articles

Budget 2024 will be marked by major social and economic decisions, Sitharaman had recently noted in her parliamentary address. She concluded pre-budget consultations, which began on June 19th, on July 5th, where she met 20 invitees across 10 groups, including representatives from agriculture, skill development, finance and banking, energy, infrastructure sector, and more.

While the agriculture sector has grown at about 4.18% at constant prices over the last 5 years, India's service sector is estimated to have grown by around 7.6% in just the last financial year.

While Artificial Intelligence promises to revolutionise industries, it also poses a threat to some existing jobs. The Economic Survey emphasises the need to use technology for collective benefit, advocating against over-reliance on automation.

A Lakhpati Didi is a rural woman whose annual household income exceeds Rs. 1 lakh.

At present, individuals aged below 60 can claim an annual deduction of up to Rs 25,000 towards health insurance premiums paid for self, spouse or children. The limit goes up to Rs 50,000 in case of senior citizens.

​​​Weeks before the budget presentation, the finance minister also meets representatives from various industries like agriculture, trade, manufacturing and more to know what they want and based on that, fine tunes the budget.

As the Finance Minister Nirmala Sitharaman prepares to present the full budget for the current fiscal on July 23, the expectations from the health sector has only been growing.

From fiscal deficit to GDP, understand key terms to navigate the financial landscape and make the most of the Union Budget 2024. Don't be perplexed when FM Nirmala Sitharaman uses complicated jargon, and know all about annual financial statements, divestments, economic survey capex, and more such terms on 23rd July!

Many are expecting the government to raise the standard deduction threshold from the current Rs 50,000 to Rs 1,00,000. The government is also thinking of raising the limits of the Public Provident Fund (PPF) from Rs 15,000 to Rs 25,000. The budget is expected to boost India's economy by 20%.

Disinvestment targets need to be pruned after successive years of disappointments. There is a risk of customs duties being raised on selective items as this government has been inclined to be protectionist in its pursuit of domestic manufacturing. Simplified capital-gains tax structure, and increase in 80C deduction limit and general tax exemption limit are some key expectations from Budget 2023.

The Production-Linked Incentive (PLI) scheme announced by the government of India in March 2020, started with three manufacturing sectors. Today it has 15 (including one proposed) under its fold. The scheme has sparked investment commitments of ₹3.5-4 lakh crore, which would account for 16% of the total expected industrial capex between fiscals 2023 and 2027.

The government may increase the threshold limit for the highest tax rate from ₹10 lakh to ₹20 lakh, provide a deduction for education expenses, and announce guidance/policy-related aspects on work from home.

India’s current capital gains tax regime provides for multiple tax rates and differential treatment based on the holding per...