On July 23, the Union Budget for 2024-25 was addressed in the Lok Sabha by Finance Minister Nirmala Sitharaman. Here are major announcements for the assistance of MSMEs for the promotion of MSMEs. This budget furnishes special watches to Micro, Small, and Medium Enterprise (MSME) and manufacturing, particularly labour-intensive manufacturing. The Finance Minister has developed a package covering financing, and regulatory changes. Major Announcements for the MSMEs In the Lok Sabha, the Union Budget for 2024-25 was presented by Finance Minister Nirmala Sitharaman on July 23. Assistance in the Development…
Tag: Budget
Punjab CM Mann says state to boycott NITI Aayog meeting; terms Budget as ‘Kursi Bachao Budget’ | Chandigarh News
Punjab Chief Minister Bhagwant Singh Mann on Thursday announced that the state government would boycott the NITI Aayog meeting to be chaired by Prime Minister Narendra Modi in New Delhi on July 27. Interacting with mediapersons during his two-day visit to Jalandhar to listen to the grievances of the people from the Doaba and Majha regions at his Jalandhar residence, the chief minister said the decision was taken after the Union Budget failed to allocate funds to Punjab despite the state’s significant contributions to the nation. Mann termed the Union…
Top 500 firms likely to get ‘quota’ for interns based on CSR spend | Business News
THE GOVERNMENT plans to talk to the top 500 companies and mutually agree on a “voluntary quota system” for taking on board interns under the employment package announced in the Budget 2024-25. The “quota system” would be based on the Corporate Social Responsibility (CSR) expenditure of these companies, Finance Secretary TV Somanathan told The Indian Express. “Details are yet to be worked out, and will be done in consultation with the industry. We might perhaps have some kind of voluntary quota system, mutually agreed upon, saying that you will take…
Govt launches revamped scheme to facilitate skill loans of up to Rs 7.5L | India News
A revamped ‘model skill loan scheme’ for skill development courses was launched by the government on Thursday, with a fresh maximum loan limit of Rs 7.5 lakh — up from the previous amount of Rs 1.5 lakh. In her budget speech on Tuesday, Finance Minister Nirmala Sitharaman had announced that the model skill loan scheme will be “revised to facilitate loans up to Rs 7.5 lakh, with a guarantee from a government-promoted fund”. “This is expected to help 25,000 students every year,” Sitharaman had said. Launched in 2015, the reversion…
Major Key Changes of GST Law in Union Budget 2024-25
In the article, we discussed the important changes in the GST rules that are part of the union budget for 2024. The Union Budget 2024-25 was presented by the Union Minister for Finance and Corporate Affairs Smt Nirmala Sitharaman in Parliament on July 23, 2024. Latest Changes of GST Law in Union Budget 2024 Mentioned below are the most recent amendments to the GST Law as summarised in the Union Budget for FY 2024-25: Adding New GST Section 74A To furnish the common time limit for the issuance of the demand…
Budget 2024: Prioritising politics over economics
The first budget of the third term of the National Democratic Alliance reflected the changed political reality of the government but was far from the economic reality of the country. The change in political circumstances after the elections meant that the allies crucial for the government’s survival (read Bihar and Andhra Pradesh) found the necessary mention, but it was still short of what they expected. But a post-election budget was also an opportunity for the government to reset the fiscal paradigm to usher in a process of reforms for the…
Opposition protests ‘discriminatory’ Budget inside and outside Parliament: ‘No one has got justice’ | India News
The Opposition on Wednesday staged a protest inside and outside the Parliament over alleged discrimination against non-National Democratic Alliance (NDA) states in the Union Budget 2024, presented by Finance Minister Nirmala Sitharaman on Tuesday. Members of the INDIA bloc first protested outside the Makar Dwar of the Parliament building. Then, during Question Hour in the Lok Sabha, they raised slogans about alleged injustice to Opposition-ruled states. Outside, leaders of the Congress, including Sonia Gandhi and Rahul Gandhi, along with those of the Trinamool Congress, Dravida Munnetra Kazhagam (DMK), Samajwadi Party…
Today in Politics: INDIA bloc MPs to protest in Parliament against ‘discriminatory’ Budget | Political Pulse News
Opposition INDIA bloc MPs will stage a protest in Parliament on Wednesday against the “discriminatory” Budget tabled by the Narendra Modi government. A decision in this regard was taken at a meeting of the INDIA bloc allies on Tuesday after Finance Minister Nirmala Sitharaman tabled the Budget. “Today we had a detailed discussion on this budget. This budget is zero in the name of development. We will protest against this budget tomorrow outside the Parliament and raise our voice inside the Parliament. This budget is against the federal structure of…
Making sense of the Budget | Explained News
The Union Budget for 2024-25 — Finance Minister Nirmala Sitharaman’s seventh in a row and the twelfth Budget of the Narendra Modi government — departs significantly from all previous Budgets presented by this government in its approach towards managing India’s economy. Budgets serve two essential purposes. They provide details about a government’s finances, how much the government earned, how much it spent, and how much it borrowed during the past financial year, and what its projections are on all these three counts for the next financial year. Too much borrowing…
Health sector | Customs duty cut on 3 cancer drugs: Hope for patients | India News
In her Budget speech Tuesday, Finance Minister Nirmala Sitharaman said, “To provide relief to cancer patients, I propose to fully exempt three more medicines from customs duties,” she said, referring to trastuzumab deruxtecan, osimertinib and durvalumab, three targeted therapy drugs with effective treatment outcomes that work by precisely identifying and inhibiting the growth of cancer cells. At present, these patented drugs, which are imported, are prohibitively expensive, costing around Rs 5 lakh a month, keeping it out of reach for most patients. Which is why, Sitharaman’s announcement – of slashing…