Budget 2024: Hits & Misses | Faye D'Souza

Union finance minister Nirmala Sitharaman presented the budget for 2024-25 today. What were the big hits and misses? What were the main takeaways? Faye D'Souza breaks it down for you.

Tax slabs 2024-25

Rs 0-3 lakh - nil
Rs 2-7 lakh - 5%
Rs 7-10 lakh - 10%
Rs 10-12 lakh - 15%
Rs 12-15 lakh - 20%
Over Rs 15 lakh - 30%

Research by: Sara Varghese and Ajit Andhare
Edit by: Nitin Bharadwaj
Produced By: Ira Jha

#budget2024 #nirmalasitharaman #unionbudget #budgetpresentation #budgetsession #indianbudget #budgetlive #fiscal2024 #financebudget #budgetupdates #budgethighlights #economicpolicy #financialplanning #budgetannouncement #budgetanalysis #indiangovernment #publicfinance #budgetnews #economicgrowth #budgetdiscussion #news #fayedsouza #financenews #finance #indiafinancenews #economics #indianeconomics

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[EjazAyoub]

Corporate tax remains untouched.. Given the rising income and wealth inequality in India, income redistribution objective of the fiscal policy should have been pushed much aggressively..

[akz]

Sad for stock investors . Needs to protest

[muskansaraogi]

Really want someone to highlight for the stripend for internships is kept at 5k per month, for a 12 month internship. Considering they would be given by top 500 companies in India and they only will have to spend 10% of CSR funds on free human capital. This speaks volumes about how we treat the Human resources in this country and why they would rather get a minimum wage job abroad

[anshikakushwaha]

They reduced customs for their riche rich friends☺️

[anshikakushwaha]

Why does my mind immediately thought that bihar got money because of what happened in election😂
Removing Indexation 😵 please they just keep creating new problems instead of solving old ones
L government

[mohan]

Budget 24 of "LootUs Party" in a nutshell "To rob People to pay NiCh"

[RameshKumar-kbhp]

It is best to leave India and move to a different country 😄

[EjazAyoub]

Income tax slabs have been reviewed only under New Income Tax Regime. Nothing under the old tax regime

[krishmagupta]

5k per month stipend is too low for 12-month internship given inflation and the fact that many of these internships might be in tier 1 cities with sky high rents. I remember as a student any european organisation taking an intern for 4 or more weeks had to pay ~500 EUR per 4 weeks to the student. Even the PPP conversion to INR would be at least INR 15k per month.

[RKV]

How can it be cheaper "? College owners have already hiked fees today to increase their profit, So students will not benefit from the bank loan & subsidy scheme. In January 2024, when the solar ROOF top panel subsidies were hiked, manufacturers increased the price of solar panels, resulting in net outflow for consumers. The cut in taxes and subsidies without freezing the prevailing price IS TO HELP THE RICH ONLY.
BTW, in which college the students will join to study with a Rs 10 lakh loan when there are no world-class universities in India to replace foreign study and parallel part-time jobs. Is it to support Ambans who has set up colleges? Education loan burden is aBIG CURSE already on the students who are struggling to repay loans without jobs and underpaid jobs.
Why should consumers buy Gold by paying taxes? FM-headed Customs department has been liberally closing its eyes, to allowing gold smuggling by the Malppuraam community, in huge quantity, daily.

[pragyanpandit]

What with above 15lakhs -30%?
One with 30 lakh income will pay 30%
Other with 17 lakh income will also pay same 30%.
Nothing on old tax regim.Too much priority focused on Bihar and AP.
Internship wage, well it's new, seems hidden love for congress manifesto.
Custom duties reduction equal for super rich and super poor.
So much Capital investment by govt, yet we're stucked with poor infrastructures.

[RKV]

(1) New tax model is encouraged

Why old tax model for corporate Balance sheet ? There are complexities, depreciation, write off, business meetings, vehicles, and several perks to escape income tax

Please introduce a new tax model for corporate balance sheet

(2) NPS is encouraged with 14% offer.

Why not introduce NPS for MPs and MLAs and Judges ?

[siddarthjay]

Custom duty is down "to 15%", not "by 15%"

[AjnaPM]

New tax slab is only applicable for new regime right?

[tomsberk]

Always did I wonder why the Indian media is afraid to come up with a genuine review of the previous year's budget! A new budget contains only revenue- increasing tricks and promises. The first part will be vigorously implemented. But more important is to what extent those promises were realised during its running. Promises are nothing, but their executions are! In India most of the budgetary promises are not realised at all! I do believe that a genuine review of the previous year's budgetary performance will shock the whole country with its alarming non- performance! These analysts of a new budget are actually part of a vicious mafia misleading the poor foolish people of India!

[AbhishekGupta-yyis]

Is the increase in standard deduction from 50k to 75k only for new regime or for both old and new?

[PKL]

Naari naari karte hai BJP WALE, what exactly have they done for the women? This time as well no specific schemes for our female counterparts sad

[RKV]

NPS has been encouraged with 14% offer

[adnansait]

No tax up to ten lacs would have been ideal for so many

[akazanaoyasu]

koi simple bhasha mein samjha do ki agar meri 32k salary hai, to mereko kitna tax bharne ka 🥲