Major announcements for India Industry in Budget 2024
Budget 2024 Industry Sector Live Updates: Finance Minister Nirmala Sitharamanon Tuesday presented the Union Budget 2024 in the Parliament. This is FM Sitharaman’s seventh consecutive Budget and the newly formed Prime Minister Narendra Modi-led NDA government’s first after general elections this year. The finance minister announced the Budget theme for this year and said that the focus areas for the government will remain the poor, woman, youth and the farmer.
The finance minister announced twelve new industrial parks to be developed under the National Industrial Corridor Development programme. These parks, she added, will be equipped with complete infrastructure and ‘plug and play’ parks will be sanctioned in or near 100 cities.
The finance minister also announced a proposal for abolishing angel tax for all classes of investors in startups. She also announced various changes with respect to tax rates for e-commerce players and certain financial instruments in the context of long-term capital gains.
