Highlights of Interim Budget 2024-25

[JANASENA]

• There are no changes in direct, indirect tax rates
• The government withdrew income tax demands up to ₹25,000 (till 2009-10) and ₹10,000 from 2010-11 to 2014-15. This will benefit about one crore taxpayers
• A scheme to help middle class living in rented houses to buy or build their own houses will be launched
• Tax benefits to start-ups and investments made by sovereign wealth or pension funds extended by 1 year till March 31, 2025
• Capital expenditure hiked 11% to ₹11.11-lakh crore
• Fiscal deficit for FY25 projected at 5.1%, lower than the revised estimate (5.8%) in FY24
• Govt to borrow ₹14.13-lakh crore in next fiscal, lower than ₹15.43 lakh crore in FY24
• Nominal GDP growth for FY25 is projected at 10.5%
• Mop-up from central public sector enterprises (CPSEs) disinvestment pegged at ₹50,000 crore for FY25, up from ₹30,000 crore in FY24
• Gross tax revenue target for FY25 hiked 11.46% to ₹38.31-lakh crore, from ₹34.37 lakh crore in FY24
• Direct tax collection target set at ₹21.99-lakh crore, while that of indirect tax is at ₹16.22-lakh crore
• The government will release a white paper on mismanagement of economy prior to 2014
• Next generation reforms will be unveiled in consultation with States and stakeholders
• Govt to form high-powered panel to address population growth challenges and demographic changes

[pizzaaddict]

35 minutes ago, JANASENA said:

• There are no changes in direct, indirect tax rates
•  

Election stunt idhi baa . 2025 budget choodam 

 

Union Finance Minister Nirmala Sitharaman, presenting her sixth consecutive Budget, announced no changes in the income tax rates on Thursday. The announcement is on expected lines as interim Budgets in the past have not accounted for major changes.

"I propose to retain the same tax rates for direct and indirect taxes including import duties," Sitharaman said.