Budget LIVE | Aim is to widen tax net either directly or indirectly: Sitharaman
NDA allies Nitish and Chandrababu Naidu bag jackpot funding for Bihar and Andhra Pradesh; newly minted 'BJP state' Odisha gets big schemes
Big boost for allies in Bihar and Andhra Pradesh, major relief for taxpayers in new scheme, incentives for investors -- all this capped up Finance Minister Niramala Sitharaman's Budget Speech on Tuesday (July 23).
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- 23 July 2024 4:45 PM IST
We wanted to simplify approach to taxation: FM at press meet
“We wanted to simplify the approach to taxation – also for the capital gains. Second, if anything, the average taxation has actually come down when we say it is 12.5 per cent. We have worked out for each of the different asset classes...The point that we brought it down from below the average to 12.5% encourages investment in the markets,” says Sitharaman explaining the 12.5 per cent tax on long-term capital gains.
- 23 July 2024 3:25 PM IST
Copycat Budget, says Kharge
Congress president Mallikarjun Kharge on Tuesday termed the Union Budget a "copycat" and alleged that it is not for the progress of the country but to save the Modi government.In a post in Hindi on X, Congress chief Kharge said, "The Modi government's 'copycat budget' could not even copy the Congress' Nyay Patra properly! The Modi government's budget is distributing half-hearted 'rewadis (freebies)' to dupe its coalition partners so that the NDA survives." "This is not a budget for the 'progress of the country', it is a 'save Modi government' budget!" he said.He said after 10 years, limited announcements have been made for the youth who are bearing the brunt of the "slogan of two crore jobs per year"."Only superficial talks have been held for farmers -- one and a half times MSP and doubling of income -- all turned out to be electoral fraud! This government has no intention of increasing rural wages," Kharge said in the post."There is no revolutionary scheme for Dalits, Adivasis, backward classes, minorities, middle class and rural poor people like the one implemented by the Congress-led UPA. The word 'poor' has become just a means of self-branding, there is nothing concrete!" the Congress chief alleged. - 23 July 2024 2:35 PM IST
Visionary Budget, says PM Modi
Prime Minister Narendra Modi on Tuesday hailed the Union Budget for its sharp focus on youth, backward sections, women and middle class as also on manufacturing and infrastructure sectors, and asserted that the proposed employment-linked incentive schemes will create crores of new jobs.
"This visionary budget will uplift and empower every stratum of our society, paving the way for a brighter future for all," Modi said in televised remarks on the Union Budget presented by Finance Minister Nirmala Sitharaman.
Modi said the budget was aimed at making the middle class stronger and will provide a new scale to education and skills development.
"The budget has come up with strong plans to empower the tribal society, Dalits and backward classes. This budget will help in ensuring economic participation of women," the prime minister said.
The prime minister said the budget will provide a new path of progress to small traders and MSMES.
- 23 July 2024 1:29 PM IST
CM Nitish's cryptic reply after Centre's 'no' to special status for Bihar
Bihar Chief Minister Nitish Kumar on Tuesday came out with a cryptic response to the Centre's refusal to grant special category status to the state.
Kumar, whose JD (U) is a key ally of the ruling NDA at the Centre, was asked about the Union government's statement in Parliament the day before.
"You will get to know all things slowly, and slowly (sab kuchh dhire dhire jaan jaaiyega)," the longest-serving CM of the state said, in reply to a volley of questions he faced from journalists at the Bihar Assembly.
