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 12:47 PM IST
Andhra Minister Lokesh welcomes Centre's commitment for Polavaram project, funds for Amaravati
Andhra Pradesh Minister Nara Lokesh on Tuesday welcomed the Central government’s budgetary proposals providing support to Amaravati and Polavaram Irrigation project.
"Thanks to the Central government which announced that it will provide full support for the completion of the projects of Amaravati, the capital of Andhra Pradesh, and Polavaram project, the lifeline of AP.
"On behalf of the people of the state, we express our gratitude to the NDA government for committing to the reconstruction of Andhra Pradesh by allocating Rs 15,000 crore in the budget," he said.
Presenting the Budget for 2024-25 in the Lok Sabha, Union Finance Minister Nirmala Sitharaman on Tuesday said the Central government will provide Rs 15,000 crore financial assistance for Andhra Pradesh for the purpose of the development of Amaravati.
She further said the NDA government at the Centre is fully committed to financing and early completion of Polavaram Irrigation project, which is considered as a lifeline for Andhra Pradesh and its farmers.
"Our government has made concerted efforts to fulfil the commitments in Andhra Pradesh Reorganisation Act. We are recognising the state's need for a capital. We will facilitate special financial support through multilateral development agencies. In the current financial year, Rs15,000 crore will be arranged with additional amounts in future years," she said.
Sitharaman further said under the AP Reorganisation Act, for promoting industrial developments, funds will be provided for essential infrastructure such as water, power, railways, and roads and also grants for backward regions of Rayalaseema, Prakasam North coastal Andhra Pradesh, as stated in the Act will be provided.
- 23 July 2024 12:32 PM IST
Revised New Tax Regime
Revised New Tax Regime
0-Rs 3L - Nil
Rs 3L-7L - 5%
Rs 7L-10L - 10%
Rs 10L-12L - 15%
Rs 12L-15L - 20
Above Rs 15L - 30%
