Fresh Mint News

  Budget 2024 Live: Union Cabinet has approved Interim Budget The Interim Budget 2024–25 will be presented by Finance Minister Nirmala Sitharaman to Parliament on Thursday, February 1, one day following the start of the Budget Session. Estimates of the government's spending, receipts, fiscal deficit, financial performance, and forecasts for the following months are included in the interim budget. The newly elected government is expected to present the whole budget following the Lok Sabha elections. The Finance Minister will lay the groundwork for the interim financial plan until the next government takes office on February 1 at 11 a.m. The finance minister will deliver the budget for the sixth time, five of which will be annual and one interim. The budget address by Finance Minister Nirmala Sitharaman will be broadcast live on Doordarshan and Sansad TV, the official channels of Parliament. Live Updates: Union Cabinet headed by Prime Minister Narendra Modi approves pre-election Budg...

  Budget 2024: Taxpayers expectations Finance Minister Nirmala Sitharaman will present the Union Budget in the Parliament on February 1, 2024,. It will be an interim budget because this is an election year. The government is expected by middle-class taxpayers to maintain tax stability and rationalization. The government's expenses are covered by the interim budget, which is a short-term financial plan, until elections are held and a new government takes office. The whole budget will be presented by the incoming administration following the Lok Sabha elections. There might be potential changes to the tax regime in order to encourage more taxpayers to choose the new tax system. The government may reduce tax rates and increase the basic threshold for income that is exempt from tax. This would provide relief to middle-class taxpayers. Many tax deductions and exemptions are not available under the new tax regime. To address this, it proposes increasing the standard deduction limit to ac...