India's Interim Budget 2024-2025: People-Centric Inclusive Development, Infrastructure and Investment, and Reduction of Fiscal Deficits
India's Finance Minister Nirmala Sitharaman presented an interim budget speech lasting just 58 minutes, ahead of upcoming elections. The full budget will be presented by the new government in July, with a focus on economic growth and modernisation by 2047. Key features of the budget include people-centric development, policies for the poor, youth and farmers, sustainable development, infrastructure and investment, and reducing fiscal deficits. The budget retains direct and indirect tax rates, with no changes to corporate tax, but offers tax benefits to startups and extends tax exemptions for some IFSC units. There is no relief for the crypto industry, with a flat 30% tax on virtual assets remaining in place. Infrastructure spending will increase by 11%, with major schemes receiving a boost, and the government aims to reduce its fiscal deficit to 5.1% of GDP in 2024-25.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
The Daily: Dogecoin investors drop class-action lawsuit against Elon Musk, Michael Saylor plans $100K bitcoin party and more
Dogecoin investors have dropped their class-action lawsuit against Elon Musk, which accused him of manipulating the price of DOGE during its 2021 surge from less than $0.10 to around $0.70.JPMorgan analysts anticipate positive regulatory changes for crypto under President-elect Donald Trump, with clearer frameworks likely to benefit the industry.President-elect Donald Trump nominated bitcoin advocate Robert F. Kennedy Jr. for U.S. Secretary of Health and Human Services on Thursday.The following article is
Matrixport Included Developments That Will Affect Bitcoin in December in Its Weekly Report! Here Are the Details
Matrixport's latest weekly report highlights a number of positive factors that have underpinned Bitcoin's recent strong performance.
Trump's Inflow Wave Has Ended! Spot Bitcoin and Ethereum ETFs Experience First Outflows Since Election!
It ended a wave of inflows and outflows in spot Bitcoin and Ethereum ETFs that has been ongoing since Donald Trump was elected president on November 5.
The Scoop: Anti-crypto bias may have cost Democrats the election
A growing base of single-issue crypto voters have become frustrated by Democrats’ general opposition to the industry.This column is adapted from The Scoop newsletter.
Trending news
MoreCrypto prices
More
