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[ad_1] Tax policies were left unchanged, major subsidies on food, fertiliser, and fuel were 8% lower and an allocation for the MGNREGA rural employment scheme was held steady in the 2024 interim budget read out in Parliament by union finance minister Nirmala Sitharaman on Thursday ahead of the Lok Sabha elections due by May. The interim budget is seen as a stop-gap fiscal plan during an election year, aimed at meeting immediate financial needs before a new government is formed. The full union budget will only be released after the elections. “I propose to retain the same tax rates for direct and indirect taxes, including import duties," Sitharaman said. The minister, however, proposed to withdraw outstanding direct tax demands of up to Rs 25,000 till FY09/10 and up to Rs 10,000 for FY10/11 to 14/15, and said it would benefit around one crore taxpayers. Sitharaman said direct collections had more than trebled in the past 10 years, and the number of people filing returns had i...

[ad_1] Union Budget 2024: The energy sector in India has a range of expectations from the Budget 2024. These expectations stem from the need to address various challenges and opportunities in the industry, including the push for renewable energy, energy security, infrastructure development, and regulatory reforms. Ahead of the Union Budget 2024-25, key industry leaders emphasise the need for strong governmental actions to promote cleaner energy and sustainable growth. Suyash Gupta, Director General of the Indian Auto LPG Coalition, highlights the environmental and economic benefits of Auto LPG, urging the government to reduce GST on Auto LPG from 18% to 5%. He believes this change, alongside incentives for OEMs to produce more LPG vehicles, will encourage wider adoption, offering a practical and cost-effective alternative to traditional fuels. Alessandro Des Dorides, CEO of Nayara Energy, stresses the importance of prioritising energy security by encouraging investments in refini...