Budget 2024: Govt lowers fiscal deficit target to 4.9% of GDP for FY25
The Indian government on Tuesday lowered its fiscal deficit target to 4.9% of GDP for the financial year ending March 2025, from 5.1% in the interim budget in February, aided by a hefty surplus transfer from the central bank and robust tax revenues. The fiscal target was part of India's federal ......
Budget 2024: What does it mean for dealmakers?
The Finance Bill presented by the government has provided several changes which will impact dealmaking. Here are a few of these changes. Financial investors, including private equity and venture capital investors, are often faced with a situation where the company where they propose to invest has a non-core business and the ......
Budget 2024: Something for everyone and a few surprises
On Tuesday, Finance Minister Nirmala Sitharaman created history, and not necessarily because of any of the provisions outlined in her speech. As she rose to speak in parliament, she became the first Indian finance minister to deliver seven budget speeches in a row, surpassing former prime minister and finance minister ......
Budget 2024: New jobs schemes and other top highlights
Finance Minister Nirmala Sitharaman on Tuesday unveiled the Union Budget for 2024-25, proposing to lift spending to create jobs and making several changes in taxation rules. The government will allocate Rs 2 trillion ($24 billion) for job creation over the next five years, Sitharaman said in her speech while presenting the ......
Budget 2024: How capital gains tax changes, scrapping indexation benefit affect PE/VC funds
The 2024-25 budget has brought significant changes to the capital gains tax framework, including removal of indexation benefits on sale of many assets such as shares of unlisted companies. However, experts in the private equity (PE) and venture capital (VC) sectors remain largely positive, viewing these adjustments as potentially beneficial for ......
Budget 2024: Sensex, Nifty end see-saw session lower after tax hike on equity trading
Indian shares ended a see-saw session lower on Tuesday, as the jump in consumer stocks on the budget promise of higher rural spending couldn't help the market fully pull back from a slide after a hike in the taxes on equity trading. The NSE Nifty 50 ended 0.12% lower at 24,479.05, ......
Budget 2024: Startups get a boost as govt scraps angel tax
Finance Minister Nirmala Sitharaman on Tuesday proposed to abolish angel tax for investors in the Union Budget for 2024-25, addressing a long-pending demand from startups and their backers. “To bolster the Indian startup eco-system, boost the entrepreneurial spirit and support innovation, I propose to abolish the so-called angel tax for ......
Budget 2024: Govt to set up VC fund for space sector
The Indian government plans to set up a venture capital fund with a corpus of Rs 1,000 crore (about $120 million) to back startups in the burgeoning space sector, Finance Minister Nirmala Sitharaman said Tuesday. “With our continued emphasis on expanding the space economy by five times in the next 10 ......
PM Modi to focus on jobs, incomes in first budget after election setback
Indian Prime Minister Narendra Modi will seek to mend his relationship with voters in the federal budget to be announced next week, economic analysts said, citing possible steps to boost jobs and incomes as growth in the economy remains uneven and food prices continue to surge. Modi's party fell short of ......
Budget 2024: Indexation removal may trigger shift in private investors' realty bets
Union finance minister Nirmala Sitharaman on Tuesday announced the removal of indexation benefits on capital gains on the sale of unlisted assets as a measure to bring parity and ease of calculation. These unlisted assets include real estate and physical gold, among other assets. The long-term capital gains taxes, too, have been ......
