Global News

[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] New Delhi: Finance Minister Nirmala Sitharaman presented the interim budget for 2024 today in Parliament, just before the Lok Sabha elections. While presenting the budget, Sitharaman mentioned that the empowerment of women through entrepreneurship, ease of living, and dignity has gained momentum in the last 10 years. In the fiscal year 2024-25, the Women and Child Development Ministry has received a budgetary allocation of Rs 26,000 crore, reflecting a 2.52 percent increase compared to the previous budget. The highest share of funds, amounting to Rs 21,200 crore, has been earmarked for the Saksham Anganwadi and POSHAN 2.0 initiatives (encompassing ICDS - Anganwadi Services, Poshan Abhiyan, and the Scheme for Adolescent Girls). Following closely is the Mission Shakti, focused on the protection and empowerment of women, which has been granted a budget of Rs 3,145.97 crore. (Also Read: Interim Budget 2024: Key Takeaways From Nirmala Sitharaman's Budget Speech) ...