-Nirmala Sitharaman's budget Rule: Increase Tax on Middle Class
- ₹26,000 Cr To Be Allocated For Highways In Bihar
- ₹15,000 Cr To Be Arranged In Current FY To Develop Andhra's Capital Amravati
- 20 lakh youths will be skilled under a new centrally sponsored scheme.
Tax Slab Revision in the New Tax Regime for FY24-25:
0-3 Lakh: Nil
3-7 Lakh: 5%
7-10 Lakh: 10%
10-12 Lakh: 15%
12-15 Lakh: 20%
15 Lakh+: 30%
Internships & Education:
-1 crore youth to get internships in 500 top companies over 5 years.
-Loans up to ₹10 lakh for higher education for those not previously eligible.
Agriculture & Housing:
-₹1.52 lakh crore allocated to boost agriculture.
-₹10 lakh crore for PM Awas Yojana Urban 2.0 to address housing needs of 1 crore urban poor and middle-class families.
Capital Expenditure & Tax Updates:
-₹11,11,111 crore (3.4% of GDP) for capital expenditure.
-Long-term gains on assets taxed at 12.5%.
-Corporate tax on foreign companies reduced from 40% to 35%.
-Security Transactions Tax on futures and options increased.
-Income from share buybacks to be taxed.
Comment on the expectations that went unfulfilled.
#InfrastructureDevelopment #YouthEmpowerment #TaxUpdates