Finance Minister Nirmala Sitharaman will present the Union Budget 2024 at 11 am on July 23, which is her seventh consecutive budget presentation. The Economic Survey has projected a realistic GDP growth forecast of 6.5-7%, emphasising the expansion of micro, small and medium enterprises as a key sector for growth under the Amrit Kaal policy. It is expected that this budget will prioritise the revitalisation of the rural economy, agriculture and micro, small and medium enterprises, while boosting consumption. It aims to strike a balance between supporting investment and consumption to promote economic growth.

Union Budget 2024 Tax Announcements : Detailed Highlights

In a landmark event, Finance Minister Nirmala Sitharaman will present her seventh consecutive Union Budget in Parliament at 11 am this morning, breaking Morarji Desai’s record. This will be the first full budget of the National Democratic Alliance government in its third term. This budget is expected to bring significant changes to the income tax structure and improve the ease of doing business in India. Prime Minister Narendra Modi has emphasized that this budget is crucial for setting the direction for the next five years and laying the foundation for becoming a developed country by 2047

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Union Budget 2024 : increase capital expenditure

Finance Minister Nirmala Sitharaman will present the Union Budget for 2024-25. It is expected that this budget will focus on tax relief for the middle class, increased infrastructure spending, and maintaining fiscal discipline.

The government expects the fiscal deficit to be 4.5% of GDP by fiscal year 2026 and plans to increase capital expenditure to Rs 111 million. GST revenue is expected to increase to Rs 106.8 million and total tax revenue is expected to grow by 11.46%. The market will closely monitor borrowing data and expenditures on key programs such as NREGA

Union Budget 2024 Live Updates

Budget 2024 Live Updates: Anticipated allocations in the upcoming budget include significant funds for key schemes such as PM Awaas Yojana, Jan Dhan Yojana, Jal Jeevan Mission, MNREGA and Atal Pension Yojana. These schemes are expected to receive additional support to further impact housing, financial inclusion, water supply, rural employment and social security. Stay tuned for detailed announcements and analysis

Union Budget 2024 growth for non-banking financial companies

Although credit growth for non-banking financial companies has slowed down, credit growth in the service sector has been strong, especially in sub-sectors such as commercial real estate and trade. Personal loans and housing loans also showed signs of improvement in the early part of fiscal year 2024, reflecting a more balanced growth in bank credit

Union Budget 2024 for agricultural sector

The Economic Survey reveals that in fiscal year 2024, bank credit to sectors such as agriculture, industry, and housing has increased significantly. Driven by the Kisan Credit Card (KCC) scheme, agricultural credit has soared nearly 1.5 times to Rs 207 billion, and the scheme supported over 740 million operational accounts by the end of 2023.

Industrial credit has grown by 8.5%, thanks to an increase in loans to industries both large and small, and is supported by unsecured loans under the Emergency Credit Linked Guarantee Scheme (ECLGS)

The agricultural sector, facing the issue of rising food inflation, is expected to receive an allocation of Rs 20 million, with a focus on income support and insurance schemes.

Notable stocks to watch include Escorts Kubota, which benefits from increased investment in agricultural machinery, and Kaveri Seeds, whose sales may rise due to greater support for farmers

Union Budget 2024 for digital infrastructure

Budget 2024 Live Updates: Investments in digital infrastructure, skills upgrading and MSME development are expected to boost rural consumption. Notable stocks to watch include Dabur India, which benefits from the strong focus on rural areas, and Hindustan Unilever, which is expected to gain from rural economic measures. Shakti Pumps and TVS Motors may also be positively impacted

Union Budget 2024 renewable energy

Budget 2024 Live Updates: The upcoming budget is expected to increase investment in renewable energy, with a focus on clean technologies. Tata Power, NTPC and Inox Wind are the key stocks to watch. Tata Power is likely to benefit from an increase in capital expenditure announcements, while NTPC and Inox Wind are expected to benefit from the expansion of solar and wind power projects

Union Budget 2024 : the first major policy statement of Modi 3.0

As the first major policy statement of Modi 3.0, the Union Budget is expected to focus on job creation and boosting consumption, which analysts predict will have a positive impact on sectors such as consumer goods, real estate, and automobiles

 

Finance Minister Nirmala Sitharaman will present the first Union Budget of the Modi 3.0 government and her seventh consecutive budget on July 23 during the Parliament’s Monsoon Session. The interim budget on February 1 did not have major policy changes or new benefits for the middle class

Changes in tax rates or structure (income tax, corporate tax, GST, etc.).

Finance Minister Nirmala Sitharaman will present the first Union Budget of the Modi 3.0 government and her seventh consecutive budget on July 23 during the Parliament’s Monsoon Session. The interim budget on February 1 did not have major policy changes or new benefits for the middle class

The above is the latest Union Budget 2024 report before 11 am. You can take a look first.

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Changes in tax rates or structure short-term and long -term capital gains tax

After Finance Minister Nirmala Sitharaman raised the short-term capital gains tax from 15% to 20% and the long-term capital gains tax from 10% to 12.5%, the rupee dropped to an all-time low and the index also fell to an intraday low after the government raised the capital gains tax.

There was a significant sell-off in the market, the STT for futures and options increased, and repo income was subject to taxation

Although the increase in taxation had a short-term negative impact on the market, the market has shown strong resilience and has begun to rebound from the lows.

The news in theUnion Budget 2024, although it brought some negative sentiment in the short term, will not fundamentally change the long-term trend of the market

Union Budget 2024 : stocks market

Today’s low point is most likely the bottom for the market and stocks in the near future. This is precisely the moment for us to discover huge investment opportunities during the decline. In this case, adding positions and buying at the bottom is a very wise choice. The stability of the market will definitely bring about a significant rebound, and our stocks will achieve considerable growth in this process