Finance Minister Nirmala Sitharaman presented the Union Budget on Tuesday, outlining significant measures. The budget aims to support the poor, middle class, and wealthy. Key changes include increased standard deductions for new tax regime taxpayers, though higher capital gains taxes and removal of indexation benefits may disappoint some. The budget benefits the salaried class and pensioners with incentives for staff training, reduced corporate tax for foreign companies, affordable education loans, and doubled Mudra loans. The salaried class will save Rs 17,500 annually, and pensioners will see an increase in family pension deductions to Rs 25,000. Additional measures include Rs 1.5 lakh crore aid for states, cheaper cancer drugs, mobile phones, and gold, removal of angel tax for startups, expedited income tax legal cases, and reduced TDS for e-commerce. Capex for FY 2025 is set at Rs 11.11 lakh crore.
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