Key Takeaways Union Budget 2024-25

Key Takeaways Union Budget 2024-25


 The Union Budget 2024–2025, presented by Finance Minister Nirmala Sitharaman, includes several key takeaways across various sectors:

Rudra Shares & Stock Brokers Ltd Union Budget  Civil Line Kanpur Up India

Direct Taxes and Corporate Policies

  1. Abolishment of Angel Tax: The budget proposes to remove the angel tax provisions, which will benefit startups by easing the compliance burden related to fund raises.
  2. Corporate Tax Reduction: The corporate tax rate for foreign companies has been reduced from 40% to 35%.
  3. Increased Pension Deductions: The deduction limit for the employer’s contribution to pension schemes has been raised from 10% to 14% of the salary​.
Employment and skilling Union Budget  Civil Line  Kanpur Up India

Indirect Taxes and Customs Duties

  1. Customs Duty Adjustments: The budget includes reductions in customs duties on critical goods like mobile phone parts, gold, and cancer drugs, while increasing duties on items like ammonium nitrate and PVC flex banners​.
  2. GST Reforms: Several amendments have been introduced to streamline GST processes, including the introduction of Section 74A to handle tax discrepancies more efficiently​.
MSME And Manufacturing Supports Union Budget  Civil Line Kanpur Up India

Social Welfare and Healthcare

  1. Ayushman Bharat Extension: Healthcare facilities under the Ayushman Bharat scheme will now cover Aasha and Anganwadi workers, and new hospitals will be established in all districts.
  2. Vaccination Programs: The budget includes provisions for cervical cancer vaccination for girls aged 9–14 years and enhancements to the Saksham Anganwadi and Poshan 2.0 programs​.
Financial Initiative  Union Budget  Civil Line Kanpur Up India

Renewable Energy and Housing

  1. Free Electricity: One crore households will receive 300 units of free electricity per month.
  2. Housing Initiatives: The PM Awas Yojana aims to build 2 crore additional houses over the next five years, focusing on rural areas and women’s housing​.
Economic outlook  Union Budget  Civil Line Kanpur Up India

Economic Growth and Employment

  1. Mudra Yojana: Continued support for women entrepreneurs with a Rs. 30 crore allocation, and significant disbursement of Mudra loans over the past decade.
  2. PM Gati Shakti: Implementation of major railway corridors to boost connectivity and support industrial growth​.
Union Budget 2024–2025 Civil Line  Kanpur Up India

These highlights reflect the budget’s focus on tax reforms, social welfare, infrastructure development, and economic growth to foster a more inclusive and sustainable economy.

Rudra shares Stocks Union Budget  Civil Line Kanpur UP Kanpur

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