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<keyword id="19945815" type="General" weightage="20" keywordseo="startups" source="keywords">Startups</keyword> in <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> have high expectations from this year's upcoming <keyword id="19908389" type="General" weightage="20" keywordseo="Union-Budget" source="keywords">Union Budget</keyword>. Early-age startups hope for the removal of angel taxes, while <keyword id="20677283" type="General" weightage="20" keywordseo="health-tech-startups" source="keywords">health tech startups</keyword> expect increased <keyword id="19913964" type="General" weightage="20" keywordseo="funding" source="keywords">funding</keyword> for the sector. Startups function as engines of economic growth, playing a crucial role in generating new jobs, ideas, products, and services. As of December 2023, the Department for Promotion of Industry and Internal Trade (DPIIT) had recognised 1,17,254 startups. These startups have reportedly created over 12.42 lakh direct jobs, significantly impacting the economy. Eklavya Gupta, CEO and Co-founder of Recur Club, stated, "We are confident that India's business credit landscape is on the brink of a major digital overhaul. FinTechs are at the forefront of this change, deploying innovative technologies and utilising in-depth data analytics to streamline and expand <keyword id="20974354" type="General" weightage="20" keywordseo="credit-access" source="keywords">credit access</keyword>." He added, "While the current allocation of Rs 10,000 crore is an excellent initial step, realising the full capabilities of India's SME and startup ecosystem will necessitate greater investment, especially in credit guarantee schemes." Vinod K Singh, Co-Founder and CTO of Concirrus, expressed his expectations from the budget: "As the Union Budget 2024-25 approaches, we hope the government will address the pressing issue of the 'angel tax.' Eliminating this tax will enhance capital formation and attract vital <keyword id="19895633" type="General" weightage="20" keywordseo="investments" source="keywords">investments</keyword>. Streamlining the duty structure and reducing high tariffs on electronic inputs are also crucial to bolstering the startup ecosystem and driving innovation. Expanding the Fund of Funds and introducing low-interest loans would be beneficial." Rajiv Lamba, co-founder and CEO of AI-enabled customer feedback platform Surveysensum, added, "Just as the government has prioritised financial inclusion, it should now focus on <keyword id="22405441" type="General" weightage="20" keywordseo="technological-inclusion" source="keywords">technological inclusion</keyword> to propel India to the next stage of growth. By training youth in AI, the government can make a strategic investment in the nation's technological future. Given the rapidly evolving job market, a substantial increase of 20 to 25 percent in budget allocation should be considered for AI-based skill development and entrepreneurship." He further emphasised, "Incentivizing investment in <keyword id="20328842" type="General" weightage="20" keywordseo="AI-startups" source="keywords">AI startups</keyword> and R&amp;D initiatives can boost local innovation in the AI space. The last budget introduced a deep tech fund of Rs 1 lakh crore with a 50-year interest-free loan period; the government should now establish a clear and transparent mechanism for access to this fund." Raja S, founder and MD of Hearzap, highlighted the expectations of health tech startups: "Health tech startups are eagerly anticipating increased funding that could usher in transformative advancements. This crucial investment holds the promise of extending cutting-edge healthcare solutions to rural and underserved areas, effectively bridging existing gaps in care. The upcoming budget ensures that every individual in our diverse population, from the youngest to the oldest, can access essential health services, including specialised care." Discussing taxation for startups in India, Vvihan Gulati, Director of Mediagraphics PR, commented, "Removing the angel tax is a highly anticipated move that would benefit early-stage startups and their investors. It would foster a more favourable environment for innovation and growth, allowing startups to attract much-needed capital without the burden of excessive taxation. This change could significantly enhance the ease of doing business and contribute to the overall growth of the startup ecosystem in India." The Union Budget 2024 will be tabled on July 23 by Union Finance Minister Nirmala Sitharaman. With this, she will become the first Finance Minister to deliver seven consecutive budgets, surpassing Morarji Desai. She presented the interim budget on February 1 of this year.

Startups demand angel tax elimination, incentives on investments in upcoming budget

<ul class="summary-list"><li>Used electric vehicles became more affordable after a new tax credit kicked in in January 2023.</li><li>Driving range and driving habits can affect the type of used EV you should shop for.</li></ul>Electric-vehicle prices are falling across the board. And as <a href="https://www.businessinsider.com/nissan-kicks-review-price-rare-find-under-30k-2024-10">more models flood the market</a>, you can get a particularly good deal on a used EV.But shelling out thousands of dollars on an unfamiliar piece of technology (especially one that's been around the block a few times) is daunting for some shoppers.Aside from wondering <a href="https://www.businessinsider.com/cheapest-electric-car-affordable-kia-ford-chevy-hyundai-nissan-2022-6">which car to buy</a>, used-EV shoppers might be wondering whether the battery could die. Shoppers on a budget might also be looking for more ways to save money, as EV tax credits broadened to include used electric cars in January 2023.The research can be a lot to take on at once. We talked to car-buying experts to demystify the process.<h2>Consider where and how much you drive</h2>Scott Case, the cofounder and CEO of Recurrent, a startup that tracks EV battery health, recommended starting by considering how far you typically drive and the climate you live in — those factors will affect how much range you'll want, as EVs perform best in temperate weather and can't drive quite as far in cold temperatures."Let's say you live in Florida and you drive 30 to 50 miles every day — you can pretty much buy anything," Case said. On the other hand, people who travel 150 miles daily and live in the occasionally frigid Midwest would need to shop around for a long-range vehicle.<div type="image" title="A gray Tesla Cybertruck plugged in at a public charging station." height="1150" width="1533" msid="114294136" hostid="261" sizebytes="313240"></div>Most older electric cars don't have the range of the latest offerings — you might find models with estimates from the Environmental Protection Agency of only 80 to 120 miles.<h2>Battery range will degrade over time</h2>Anyone who's owned a smartphone knows that lithium-ion batteries wear out over time. Pretty much the same goes for EVs.As the years go by, cycles of charging and driving wear out an EV's battery pack, reducing driving range. The vehicle-data firm Geotab has estimated that EV batteries <a href="https://www.geotab.com/blog/ev-battery-health/" target="_blank" rel="noopener">tend to lose about 2% of their capacity each year</a>.The good news is that an EV's battery is unlikely to fail completely or render the car useless.But understanding how much life a vehicle has left isn't all that simple. Case said that exposure to extreme temperatures, frequent trips to powerful DC fast chargers, and variations in battery chemistry mean some used cars perform better than others with identical mileage.<div type="image" title="A charging cable extending from a Tesla Supercharger to a Chevrolet Equinox EV." height="3024" width="4032" msid="114294138" hostid="261" sizebytes="789912"></div>Jim Fish, a vice president of Opus IVS, a tech-focused collision-repair company, said the best question to ask about a battery's care is how often it was left below 20% and above 80% of its charge.Leaving a battery too close to empty or on a full charge for too long affects its ability to hold a charge, Fish said."Of course, you might struggle to find out the truth to that question," Fish said.Recurrent provides reports on EV battery health aimed at helping shoppers choose between cars.<h2>You can get up to $4,000 off thanks to federal tax credits</h2>At the start of last year, a <a href="https://www.businessinsider.com/federal-state-electric-car-vehicle-tax-credits-rebates-qualify-2023-1">used-EV tax credit went into effect</a> as part of a larger incentive program in the Inflation Reduction Act. Automotive retail analysts described it as a welcome change for EV shoppers on a budget.To <a href="https://www.businessinsider.com/ev-tax-credit-suv-tesla-model-y-ford-mach-e-2023-2">qualify for the credit</a>, the vehicle must be purchased at a dealership so that the dealer can report the required information to the IRS.The buyer must be purchasing the vehicle for personal use and not for resale, must not be the original owner of the vehicle, must not be able to be claimed as a dependent, and must not have used any other clean-vehicle credit in the previous three years. Income caps for buyers range from $75,000 to $150,000, depending on their tax-filing status.The vehicle must have a sale price of $25,000 or less and must be at least two model years old.Many states also have tax incentives for purchasing EVs. More detailed information and required forms can be found on the <a href="https://www.irs.gov/credits-deductions/used-clean-vehicle-credit" target="_blank" rel="noopener">IRS's website</a>.

Considering an electric vehicle? Experts explain how to pick one for your lifestyle and budget

New Delhi [India], July 21 (ANI): As the Union <keyword id="19956758" type="General" weightage="20" keywordseo="Finance-Minister" source="keywords">Finance Minister</keyword>, <keyword id="19916618" type="General" weightage="20" keywordseo="Nirmala-Sitharaman" source="keywords">Nirmala Sitharaman</keyword>, is set to present her seventh <keyword id="19908389" type="General" weightage="100" keywordseo="Union-Budget" source="keywords">Union Budget</keyword>, the <keyword id="21660910" type="General" weightage="20" keywordseo="Monsoon-Session" source="keywords">Monsoon Session</keyword> of Parliament will commence on July 22. With the presentation of this year's budget, Sitharaman will establish herself as the first Finance Minister to present seven consecutive budgets, breaking the record of Morarji Desai's six budget presentations. Desai, who was the country's Finance Minister from 1959 to 1964, presented a record six budgets for the country, of which five were full budgets and one was an interim budget. Like the previous few full Union Budgets, <keyword id="15478236" type="General" weightage="20" keywordseo="budget-2024" source="Orion">Budget 2024</keyword> will also be delivered in paperless form. An Interim Union Budget 2024 was presented on February 1, as the country was due for general elections. As part of the <keyword id="20321465" type="General" weightage="20" keywordseo="budget-preparation" source="keywords">budget preparation</keyword>, the Finance Ministry has completed several rounds of deliberations with different stakeholders of the economy. These meetings started on June 20, during which Sitharaman met representatives from trade unions, the education and health sectors, employment and skilling, MSMEs, trade and services, industry, economists, the financial sector and capital markets, as well as representatives from the infrastructure, energy, and urban sectors. During the meetings, economists discussed several critical issues, such as boosting capital expenditure and reducing the fiscal deficit. The group of economists suggested to the ministry that the focus should be on reducing the fiscal deficit in the upcoming budget, along with the need to generate employment growth. The industry body, the Confederation of Indian Industry (CII), suggested that the government increase capital expenditure in the upcoming budget. The economists also emphasised the need to enhance capital expenditure. Farmer associations urged the Finance Minister to enhance the budgetary allocation for the agriculture sector. Representatives from the skilling and employment sectors suggested ways to skill the youth for better utilization of the workforce. This year's Monsoon Session will have 19 sittings until August 12. The Modi government is expected to present six bills, among which the Aircraft Act and Parliament's nod for the budget of Jammu and Kashmir are prominent. The government will also present the Finance Bill after the announcement of the budget on July 23. Among the other bills, the disaster management law, the Bhartiya Vayuyan Vidheyak 2024, the Boilers Bill, the Coffee (Promotion and Development) Bill, and the Rubber (Promotion and Development) Bill will be tabled in this year's Monsoon Session. The Bhartiya Vayuyan Vidheyak 2024 will replace the Aircraft Act of 1934 and streamline regulations in the civil aviation sector, aiding industry players in the sector. The interim budget, tabled on February 1, addressed the financial needs of the intervening period until a government was formed after the Lok Sabha polls, after which a full budget was supposed to be presented by the new government in July. The Union Budget documents will be available on the "Union Budget Mobile App" for hassle-free access to budget documents by Members of Parliament (MPs) and the public. The app is bilingual (English and Hindi) and is available on both Android and iOS platforms. The app can also be downloaded from the Union Budget Web Portal (www.indiabudget.gov.in).

FM Sitharaman to present historic seventh consecutive Union Budget in paperless format

<ul class="summary-list"><li>Setu Shah coaches new parents on preparing financially for a baby.</li><li>She started after having her son, who is now two.</li></ul>This as-told-to essay is based on a conversation with <a target="_blank" href="https://www.financialdoula.com/about">Setu Shah</a>, founder of <a target="_blank" href="https://www.instagram.com/financialdoula/">Financial Doula</a>. It has been edited for length and clarity.When I was <a target="_blank" class="" href="https://www.businessinsider.com/what-i-wish-i-knew-about-pregnancy-before-getting-pregnant-2022-10">pregnant with my first child</a>, I was as proactive as possible. Even so, I ended up in a financial situation that I just didn't expect.At my son's birth, I had some complications that led to <a target="_blank" class="" href="https://www.businessinsider.com/gen-z-millennials-giving-up-medical-care-cant-afford-costs-2024-2">additional medical costs</a>. A few weeks later, my family had a water leak in our house, leading to expensive repairs. Then, less than three months after I returned from maternity leave, I was laid off.Luckily, I <a target="_blank" class="" href="https://www.businessinsider.com/how-get-medical-bills-reduced-negotiate-challenge-payment-plan-2024-9">didn't go into debt</a> but blew through my savings. I also found myself feeling financially dependent on my husband, which wasn't a plan I ever had. I'd always been very autonomous.Now I work with parents for them to <a target="_blank" class="" href="https://www.businessinsider.com/am-i-ready-to-have-a-baby-2018-2">be financially ready</a> before welcoming a baby into their lives.<h2 id="90bd853d-82f9-4628-9d1e-2fd6de9a2675">I realized other people were in similar situations</h2>I am savvy with money but still surprised by the financial realities of my first year of parenthood. I realized other parents — moms particularly — were likely struggling too. I wanted to help parents go into parenthood with a firm understanding of the costs, <a target="_blank" class="" href="https://www.businessinsider.com/status-symbol-items-for-parents-snoo-doona-tripp-trapp-2024-7">not just for baby gear</a> and childcare but also for unexpected items that go hand-in-hand with parenting. I started<a target="_blank" href="https://www.financialdoula.com/"> Financial Doula</a> before my son's first birthday.I've seen that adding a baby to your family can easily cost $2,000 to $3,000 a month, especially if you're <a target="_blank" class="" href="https://www.businessinsider.com/family-paid-over-fifty-thousand-dollars-for-childcare-2024-11">hiring childcare</a>. Yet, I encourage my clients to think beyond cost: time becomes even more precious when you become a parent. You have to weigh up the costs of services versus their impact on your life.Here are the three items that all parents should budget for during the first year and beyond.<h2 id="827ee064-654e-4cd2-9808-1e8bfe2eb8a2">1. Childcare changes</h2>Childcare is a massive expense that many parents know to budget for. However, I've learned that first-time parents need to have a lot of flexibility in this budget line.During the first year, changing child-care situations two or three times is normal. You don't know what will work for you or your baby until you live it. So, if you're planning on family watching your child, budget extra for occasional paid childcare. If you're planning on day care, consider creating a buffer in case you need a nanny. Changing your mind is OK; having financial resources can make that easier.<h2 id="b806abbe-7cde-4be9-9386-6fb94a38a975">2. Physical and mental health</h2>In the first year postpartum, there are so many small supports that can help parents, especially moms. A lactation consultant, postpartum doula, or sleep coach can significantly improve your quality of life. Yet, I see a lot of people who don't budget for these services because they're expensive and can be seen as wants, not needs. Still, parents need to take care of their physical and mental health.<h2 id="8505af0b-90fb-41ad-8462-83aa17056d58">3. A paid village</h2>Next are items that can make running a household easier: things like lawn maintenance, a cleaning service, meal delivery kits, etc. If you have two working parents, these are essential.Sometimes, women need help in justifying these costs, especially if their male partner is making more money than they are. I try to remind families that having a baby is a combined, joint decision. Investments in items that make housekeeping and childcare easier benefit both parents, not just the mom. Unfortunately, remembering that requires a shift in our cultural mindset.<h2 id="306b40b2-6be4-44fd-88b7-a6f1d20deda2">These 2 questions can help open money conversations</h2>Having a baby brings a lot of financial stress that many couples haven't faced before. You can never predict all the costs, but having honest conversations about finances and money psychology can help you and your partner understand each other's behavior around money. These questions are a great starting point:<ul><li>What are your priorities during this period of life? For the next two years, where do you want most of your energy directed? Are there ways that you're spending your money, time, or energy that you'd like to shift?</li><li>What does it mean to you to raise and care for a child? What do you envision your family dynamics and interactions as? How can intentional spending and budgeting help you reflect that?</li></ul>These are questions I consider as we think about having a second baby. Right now, my husband has an intense career where he works long hours outside the home. I'm focused on launching my business. We're spending a lot of time thinking about what a second child might mean for the family as a whole and its impact on each of us individually. If we decide to grow our family, I want to be very clear about the costs — those we can plan for and those we can't predict.

I'm a financial doula. Here are 3 things new parents should budget for, plus questions they should ask themselves about money.

<keyword id="19955404" type="General" weightage="20" keywordseo="finance" source="keywords">Finance</keyword> Minister <keyword id="19916618" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="keywords">Nirmala Sitharaman</keyword> presented the Union <keyword id="19936553" type="General" weightage="100" keywordseo="budget" source="keywords">Budget</keyword> 2024-25 on Tuesday, outlining a detailed financial roadmap aimed at driving economic growth and ensuring fiscal stability. The budget reveals a comprehensive picture of government revenues and expenditures, highlighting major <keyword id="20439675" type="General" weightage="20" keywordseo="allocations" source="keywords">allocations</keyword> to key <keyword id="20353247" type="General" weightage="20" keywordseo="sectors" source="keywords">sectors</keyword> and <keyword id="19915334" type="General" weightage="20" keywordseo="schemes" source="keywords">schemes</keyword>. The <keyword id="19945274" type="General" weightage="20" keywordseo="revenue" source="keywords">revenue</keyword> to the government is generated from multiple sectors. Income tax contributes 19 per cent, borrowings and liabilities stand as the largest source at 27 per cent, and <keyword id="19951327" type="General" weightage="20" keywordseo="gst" source="keywords">GST</keyword> along with other taxes accounts for 18 per cent. Corporation taxes contribute 17 per cent, followed by non-tax receipts at 9 per cent, customs at 4 per cent, excise duty at 5 per cent, and non-debt capital receipts at 1 per cent. On the <keyword id="19936655" type="General" weightage="20" keywordseo="expenditure" source="keywords">expenditure</keyword> side, the budget outlines significant allocations to various public sectors. Interest payments consume 19 per cent of the total expenditure, central sector schemes account for 16 per cent, and states' tax devolution takes up 21 per cent. Subsidies represent 6 per cent of the spending, while defence expenditures stand at 8 per cent. The Finance Commission and other transfers take up 9 per cent, centrally sponsored schemes another 8 per cent, pensions 4 per cent, and other expenses 9 per cent. In terms of sector-specific allocations, defence receives the highest allocation at Rs 4,54,773 crore. Rural development is allocated Rs 2,65,808 crore, reflecting the government's focus on boosting rural economies. Agriculture is set to receive Rs 1,51,851 crore, while home affairs are allocated Rs 1,50,983 crore, underscoring the importance of internal security. Education, a critical sector for future growth, is allocated Rs 1,25,638 crore. The IT and Telecom sector, pivotal for digital transformation, receives Rs 1,16,342 crore. Health is allocated Rs 89,287 crore, emphasising the ongoing commitment to improving healthcare infrastructure. The energy sector is earmarked Rs 68,769 crore, social welfare Rs 56,501 crore, and commerce and industry Rs 47,559 crore. The budget also highlights significant increases in allocations to major schemes. The Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) sees an increase from Rs 60,000 crore in FY23-24 to Rs 86,000 crore in FY24-25, aimed at enhancing rural employment. Nuclear power projects receive a boost from Rs 442 crore to Rs 2,228 crore, while the development of semiconductors sees a substantial increase from Rs 3,000 crore to Rs 6,900 crore, underscoring the push towards technological advancement. Direct Benefit Transfer for LPG is allocated Rs 1,500 crore, up from Rs 180 crore, to support energy access. Solar power allocation doubles from Rs 4,970 crore to Rs 10,000 crore, reflecting the government's commitment to renewable energy. This budget, with its detailed allocations and revenue plans, underscores the government's strategy to foster economic resilience, technological advancement, and sustainable growth.

Fund allocations to key sectors and schemes hiked in budget

One aspect that always garners much traction on the <keyword id="19936553" type="General" weightage="100" keywordseo="Budget" source="keywords">Budget</keyword> day is what got <keyword id="20257498" type="General" weightage="20" keywordseo="cheaper" source="keywords">cheaper</keyword> and what got <keyword id="20286063" type="General" weightage="20" keywordseo="costlier" source="keywords">costlier</keyword>. Finance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="Nirmala-Sitharaman" source="keywords">Nirmala Sitharaman</keyword> as part of her Budget presentation proposed a host of tweaks in basic <keyword id="20454068" type="General" weightage="20" keywordseo="customs-duty" source="keywords">customs duty</keyword> (BCD) for various products or items that are critical for manufacturing. In her Budget speech, Sitharaman proposed an exemption on customs duty on certain <keyword id="22516435" type="General" weightage="20" keywordseo="cancer-medicines" source="keywords">cancer medicines</keyword> and a reduction in duties on <keyword id="19920958" type="General" weightage="20" keywordseo="mobile-phone" source="keywords">mobile phone</keyword> parts and chargers, aimed at bringing down their prices in the retail market. "With a three-fold increase in domestic production and almost 100-fold jump in exports of mobile phones over the last six years, the Indian mobile phone industry has matured. In the interest of consumers, I now propose to reduce the BCD on mobile phone, mobile PCBA and mobile charger to 15 per cent," said Sitharaman in her Budget speech that lasted around 90 minutes. To provide relief to cancer patients, she proposed to fully exempt three more medicines from customs duties. Imported <keyword id="19895579" type="General" weightage="20" keywordseo="gold" source="keywords">gold</keyword>, silver, leather goods and seafood will also get cheaper, as duties were invariably lowered on them. Duty cut on gold would boost retail demand and help in curtailing smuggling in the world's second-biggest bullion market. "To enhance domestic value addition in gold and precious metal jewellery in the country, I propose to reduce customs duties on gold and silver to 6 per cent and that on platinum to 6.4 per cent." She also proposed changes in the customs duty on X-ray tubes and flat panel detectors for use in medical X-ray machines under the <keyword id="20330318" type="General" weightage="20" keywordseo="phased-manufacturing-programme" source="keywords">Phased Manufacturing Programme</keyword>, so as to synchronise them with domestic capacity addition. Also, she proposed to fully exempt customs duties on 25 critical minerals and reduce basic customs duty on two of them. Minerals such as lithium, copper, cobalt and rare earth elements are critical for sectors like nuclear energy, renewable energy, space, defence, telecommunications, and high-tech electronics, said the finance minister. "This will provide a major fillip to the processing and refining of such minerals and help secure their availability for these strategic and important sectors," Sitharaman said. Putting energy transition on focus, as it is critical in the fight against climate change, the finance minister proposed to expand the list of exempted capital goods for use in the manufacture of solar cells and panels in the country. However, in view of sufficient domestic manufacturing capacity of solar glass and tinned copper interconnect, it was proposed not to extend the exemption of customs duties provided to them. To enhance competitiveness in marine products, the reduced duty on certain broodstock, polychaete worms, shrimp and fish feed to 5 per cent, besides exempting customs duty on various inputs for manufacture of shrimp and fish feed. Moving on to leather and textile, reduction in duty was announced for various items. "...to enhance the competitiveness of exports in the leather and textile sectors, I propose to reduce BCD on real down filling material from duck or goose," Sitharaman said. To reduce cost of production of steel and copper, two important raw materials, it was proposed to remove the customs duty on ferro nickel and blister copper. "I am also continuing with nil BCD (customs duty) on ferrous scrap and nickel cathode and concessional BCD of 2.5 per cent on copper scrap." On the flip side, to support chemicals and petrochemicals, an increase in duty was proposed. To support existing and new capacities in the pipeline, an increase in duty on ammonium nitrate from 7.5 to 10 per cent would be applicable. PVC flex banners are non-biodegradable and hazardous for environment and health. To curb their imports, a propose was made to raise the duty on them from 10 to 25 per cent. To incentivise domestic telecommunication equipment manufacturing, a propose to increase the duty from 10 to 15 per cent on PCBA (printed circuit board assembly) of specified telecom equipment was made. Explaining her rational behind the indirect taxes tweak, Sitharaman said her proposals for customs duties intend to support domestic manufacturing, deepen local value addition, promote export competitiveness, and simplify taxation, while keeping the interest of the general public and consumers surmount. In Budget 2022-23 too, the government reduced the number of customs duty rates.

Here's what will get cheaper and costlier after this Budget

<keyword id="19955368" type="General" weightage="100" keywordseo="budget-2024" source="keywords">Budget 2024</keyword>, which is set to be presented on July 22nd, is set to accelerate the growth of <keyword id="20459350" type="General" weightage="20" keywordseo="Indian-stock-markets" source="keywords">Indian stock markets</keyword> by as much as 20%, a recent survey by <keyword id="19897999" type="General" weightage="20" keywordseo="Bloomberg" source="keywords" meta.keywordsubtype="org" meta.entityname="Bloomberg" meta.hostid="261" meta.entityid="Bloomberg">Bloomberg</keyword> noted. While some respondents hope that the <keyword id="20983733" type="General" weightage="20" keywordseo="NSE-Nifty50" source="keywords">NSE Nifty50</keyword>, which is currently trading at 24,273.35 points, might reach 26,000 points by the end of this year, others estimate the index to inch up even higher. The budget is likely to boost consumer spending, accelerate consumption, and support infrastructure development, noted half of the 24 experts Bloomberg surveyed. Data by Bloomberg Intelligence predicted that the estimated earnings per share (EPS) of companies on the MSCI India Index is set to rise by 15.6% on year basis, for the calendar year 2024. In contrast, Chinese firms are expected to grow at about 10%. One-fourth of surveyed analysts noted that pushing capital expenditure would be the government's top priority, while the other half thought the focus would be on boosting consumer demand. Naturally, analysts see potential growth in consumer discretionary stocks in the months to come, followed by financial services. <h2>Focus on Women, Capex</h2>Many are expecting the government to raise the standard deduction threshold from the current Rs 50,000 to Rs 1,00,000. The government is also thinking of raising the limits of the <keyword id="19930663" type="General" weightage="20" keywordseo="Public-Provident-Fund" source="keywords">Public Provident Fund</keyword> (PPF) from Rs 15,000 to Rs 25,000. As per Ashwajit Singh, Founder and Managing Director of IPE Global, "the budget is expected to be tilted towards adopting a strategy for the underprivileged, youth, farmers, and women. The budget is expected to reflect the government’s tried and tested formula of ‘guarantees’ by opting for income transfer policies and spending more on welfare schemes in government campaigns in India. Allocations for existing schemes such as 'Housing for All’, MGNREGA, and health insurance for these sections of society are likely to increase while new schemes may be introduced". According to Badal Yagnik, CEO of Colliers India, the real estate segment is optimistic regarding this budget: "Housing, infrastructure development, sustainability, and digitization will remain at the core of the budget, which will go a long way in supporting real estate growth across segments in the long term. EV infrastructure, renewable energy, and green financing will continue to remain in focus, creating a strong base for a sustainable future. Incentivization of green buildings through minimum alternate tax or tax breaks similar to the infrastructure sector will be particularly beneficial. Meanwhile, retail investors are calling for additional rationalizing of the capital gains tax structure. The Union Budget 2024–25 should explore initiatives to boost greater retail engagement in REITs and InvITs". Anooshka Soham Bathwal, founder of Dhanvesttor, a financial management platform, expects that the government's focus is likely to keep driving the increased participation of women in the workforce in the upcoming full budget, where it can attain the same by incentivising higher education for women. "To promote entrepreneurship, the government can introduce special benefits for the businesses started by women. Further steps towards a stable policy environment and ease of doing business are also desirable. Incentives on tax, funding, and growth for women-centric organizations can help to further attain the inclusive growth objective of government". Bathwal also emphasized that the budget should promote entrepreneurs and the country's startup system. "Entrepreneurs are advocating for additional tax breaks for investors and promoters to attract more domestic capital. As India progresses towards becoming a global hub for entrepreneurship and innovation, fostering both technological and process innovations is crucial. Significant improvements in ongoing training and skill upgrades are vital, particularly given the rapid growth in Tier 2 and Tier 3 markets. Additionally, the government needs to address the credit challenges faced by SMEs", she continued Also read <a href="https://www.businessinsider.in/budget/budget-2024-heres-what-indias-elderlies-want/articleshow/111486023.cms" data-type="tilCustomLink">Budget 2024: FM might delight India's senior citizens this time around</a> <a href="https://www.businessinsider.in/finance/union-budget-2024-25-when-will-it-be-presented-what-to-expect-and-more/articleshow/111014203.cms" data-type="tilCustomLink">Union budget 2024-25 : When will it be presented, what to expect and more</a>

Budget 2024 to fuel stock markets: Bloomberg Survey

The government's decision to remove <keyword id="22142879" type="General" weightage="20" keywordseo="indexation-benefit" source="keywords">indexation benefit</keyword> on sale of old property will result in huge <keyword id="22544904" type="General" weightage="20" keywordseo="inflow-of-black-money" source="keywords">inflow of black money</keyword> in <keyword id="19895040" type="General" weightage="100" keywordseo="real-estate" source="keywords">real estate</keyword> and investments in the sector will go down, AAP Rajya Sabha member <keyword id="19934326" type="General" weightage="20" keywordseo="Raghav-Chadha" source="keywords">Raghav Chadha</keyword> said on Thursday. Asking the government to roll back the proposal, Chadha, while taking part in the discussion on the <keyword id="19908389" type="General" weightage="20" keywordseo="Union-Budget" source="keywords">Union Budget</keyword> 2024-25, said people will never be able to buy their "dream homes". "Restore indexation on <keyword id="20584761" type="General" weightage="20" keywordseo="long-term-capital-gains" source="keywords">long-term capital gains</keyword>. Throughout the world, to woo investors to invest they are incentivised. In this country, by removing indexation we are disincentivising the investor class," he said, adding that removing indexation is not imposing <keyword id="19987671" type="General" weightage="20" keywordseo="tax" source="keywords">tax</keyword> but it is equivalent to "penalising investors". He said as a result of the step proposed by <keyword id="19956758" type="General" weightage="20" keywordseo="Finance-Minister" source="keywords">Finance Minister</keyword> Nirmala Sitharaman in the Budget 2024-25, individuals selling old properties will incur higher tax outgo. "If you do not bring back indexation three things will happen in this country. First, <keyword id="19895437" type="General" weightage="20" keywordseo="investment" source="keywords">investment</keyword> in real estate will go down and people will never be able to buy their 'dream homes'," Chadha asserted. He further said there will be undervaluation of property deals, people will buy properties at 'circle rates' and will never disclose the real value of the property. "Third, there will be a huge inflow of <keyword id="20592248" type="General" weightage="20" keywordseo="black-money" source="keywords">black money</keyword> if you don't roll back this decision to withdraw indexation," he said. In the Union Budget 2024-25, the government proposed reducing the long-term capital gains tax on immovable properties to 12.5 per cent from 20 per cent, but removed the indexation benefits to adjust for inflation. As per the Memorandum to the Union Budget, with rationalisation of rate to 12.5 per cent, indexation available under Section 48 of the Income Tax Act has been proposed to be removed for calculation of any long-term capital gains, which is presently available for property, gold and other unlisted assets. Chadha also highlighted the high tax burden faced by common people and asked for a comprehensive review of both direct and indirect taxes. "We impose taxes like the Europeans do, to get services like sub-Saharan countries," he added. Taking part in the discussion, Debashish Samantaray of the BJD said the central government has given a raw deal to all eastern states like Odisha, Jharkhand, West Bengal in the Budget. He charged that in spite of Odisha giving 20 seats to the BJP, there was hardly anything for the state in the Union Budget. He noted that "regional aspiration should be addressed", and asked the central government to treat all states as equal. RJD's Sanjay Yadav attacked the government stating the Budget had nothing for the poor and marginalised and only catered to the rich and powerful. He noted that his party has been demanding special category status for Bihar for a very long time. Yadav said instead of dividing people on the basis of religion and caste, the government should work towards generating employment in the country. Medha Vishram Kulkarni of BJP and Rajani Ashokrao Patil of INC also participated in the debate. C V Shanmugham of AIADMK said allocation in the Budget does not significantly address the pressing needs of Tamil Nadu's infrastructure, health care, Social justice and education. The government has mentioned 76 projects in Tamil Nadu, but most of them are pre-existing ones getting a facelift. Moreover, in the Budget, no help in flood mitigation was provided, despite the state being prone to cyclones. There is no mention of a linkage of Kaveri and Godawari in the Budget, he said. Samirul Islam of AITC said this Budget is anti-people, anti-poor and anti-Bengal. It only satisfies Bihar and Andhra Pradesh's allies and is to save the government. "The Budget has deprived Bengal," he said. It has also ignored the people, especially the unorganised sector. 83 per cent of India's workforce is employed by unorganised sectors and failed to announce a comprehensive scheme for them and migrant workers, he said. M Mohamed Abdulla of the DMK said the Budget has provoked a constructive debate and disappointment in Tamil Nadu, a state known for its economic contributions. Tamil Nadu expected support and recognition in the budgetary allocations, but received nothing. The government is supposed to represent the people of the country as a whole. However, it is very unfortunate and unfair to see unequal distribution to the state governments, especially for the non-BJP ruled states like Tamil Nadu which provides the highest tax for the government, he said.

Removal of indexation benefit will lead to huge inflow of black money in real estate: Raghav Chadha

The Department of Social Justice and Empowerment has been allocated Rs 13,539 crore in the 2024-2025 budget, an increase of 37 per cent from the 2023-2024 revised estimates of Rs 9,853.32 crore. This increase is primarily focused on enhancing <keyword id="20312810" type="General" weightage="20" keywordseo="welfare-programmes" source="keywords">welfare programmes</keyword> for <keyword id="21384605" type="General" weightage="20" keywordseo="marginalised-communities" source="keywords">marginalised communities</keyword> and improving infrastructure for social services. The key areas of funding include Rs 9,549.98 crore for the 'Umbrella Scheme for Development of Scheduled Castes', a significant increase from the Rs 6,780 crore in the previous financial year. For achieving social justice comprehensively, the saturation approach of covering all eligible people through various programmes, including those for education and health, will be adopted, Finance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="Nirmala-Sitharaman" source="keywords">Nirmala Sitharaman</keyword> said on Tuesday while presenting the 2024-25 Union Budget in Parliament. She said to ensure <keyword id="22517725" type="General" weightage="20" keywordseo="inclusive-human-resource-development" source="keywords">inclusive human resource development</keyword>, a social justice saturation approach will be adopted. Social justice through the saturation approach refers to a strategy where the government aims to ensure that all eligible individuals are covered by various programmes and initiatives. The department has been allocated Rs 2,150 crore for the 'Umbrella Programme for Development of Other Vulnerable Groups' and Rs 314 crore for the National Action Plan for Drug Demand Reduction. The establishment expenditure of Rs 145.80 crore for the central administration includes allocations for the secretariat and national commissions. The amount is a slight decrease from the previous year's Rs 152.60 crore. The National Commission for Scheduled Castes has been allocated Rs 38 crore and the National Commission for Backward Classes Rs 21 crore. The budget of the Development and Welfare Board for Denotified, Nomadic and Semi-Nomadic Communities remains at Rs 5 crore. Central sector schemes and projects are among the focus areas of this budget, with the <keyword id="22517726" type="General" weightage="20" keywordseo="scholarships-for-higher-education" source="keywords">Scholarships for Higher Education</keyword> for Young Achievers Scheme for Scheduled Castes being allocated Rs 428 crore. This scheme encompasses various sub-schemes, including the National Fellowship for SCs, Free Coaching for SCs and OBCs, Top Class Education for SCs and the National Overseas Scholarship for SCs. The Scheme of Residential Education for Students in High School in Targeted Areas for SCs has been allocated Rs 133.07 crore. The department also prioritises <keyword id="22024434" type="General" weightage="20" keywordseo="economic-assistance" source="keywords">economic assistance</keyword> and <keyword id="20068989" type="General" weightage="20" keywordseo="skill-development" source="keywords">skill development</keyword> through initiatives like the Pradhan Mantri Dakshta Aur Kushalta Sampann Hitgrahi Yojana -- that has been allocated Rs 130 crore -- and the <keyword id="20245482" type="General" weightage="20" keywordseo="venture-capital-fund" source="keywords">Venture Capital Fund</keyword> for SCs and OBCs -- that has bee allocated Rs 50 crore. Additionally, the Self Employment Scheme for Rehabilitation of Manual Scavengers, which previously had allocations, does not feature in the current budget, indicating a possible reallocation of funds or a change in strategy. Support for marginalised individuals, particularly through the Support for Marginalized Individuals for Livelihood and Enterprise programme, which includes comprehensive rehabilitation for persons engaged in begging and welfare of transgender persons, has been allocated Rs 98.46 crore. This marks a substantial increase from the previous year's Rs 32.82 crore, highlighting a growing commitment to addressing these vulnerable groups' needs. Transfers to states and Union Territories under centrally sponsored schemes form a major part of the budget.

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