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| Name | Will Budget 2024-25 Meet Middle-Class Expectations With Potential Tax Breaks & Incentives? |
| Video Uploader | Video From Business Today |
| Upload Date | This Video Uploaded At 22-07-2024 07:07:57 |
| Video Discription | #modinomics #budgetwithbt #budget2024 #unionbudget2024 #taxation As Finance Minister Nirmala Sitharaman began her interim budget speech, middle-class expectations soared, hoping for tax relief from the Modi government ahead of the general elections. The traditional halwa ceremony in the North Block signaled the high anticipation, with tax-payers eager for benefits hinted at by the finance minister. Key items on the wish list for the new tax regime include raising the basic income tax exemption limit to ₹5 lakh, increasing the threshold for the highest 30% tax slab to ₹25-30 lakh, and boosting the standard deduction from the current ₹50,000. Analysts also seek adjustments in the old tax regime, such as a higher standard deduction, increased basic exemption limits, and more exemptions under Section 80C. The healthcare sector could benefit if Section 80D exemptions are raised, and there's a call to increase HRA exemptions in Tier-2 cities to 50%. Speculation also surrounds potential changes in capital gains taxes to discourage F&O trading by retail investors. The government's ample funds from a significant RBI dividend and record GST and direct tax collections strengthen these demands. Recent discussions between the Prime Minister and top economists emphasize tax relief for the common man, aiming to boost private consumption and solidify the NDA's position for upcoming elections in Maharashtra, Haryana, and Jharkhand. ----------------------- Thank You for watching! Do not forget to Like | Comment | Share ----------------------- About the channel Watch us for the best news and views on business, stock markets, crypto currencies, consumer technology, the world of real estate, bullion, automobiles, start-ups and unicorns and personal finance. Business Today TV will also bring you all you need to know about mutual funds, insurance, loans and pension plans among others. Follow us at: Website: https://www.businesstoday.in WhatsApp: whatsapp.com/channel/0029Va4Hd309hXFCqY62yD2I Facebook: https://www.facebook.com/BusinessToday twitter: https://twitter.com/business_today Instagram: https://www.instagram.com/business_today/ |
| Category | News & Politics |
| Tags | Business Today | Business News | Latest business news | Budget 2024-25 | PM Modi Budget 2024 | Narendra Modi Budget 2024-25 | India's Budget 2024 | Modi 3.0 Budget | Tax Breaks | Indian Economy 2024 | Union Budget 2024-25 | Modi's Economic Policies 2024 | Finance Minister Budget 2024 | Nirmala Sitharaman | India Growth 2024-25 | Government Schemes | Budget Expectations 2024 | Economic Reforms 2024 | Infrastructure Budget | Healthcare Budget 2024 | PM Modi | modinomics | modinomics 3.0 |
