GUWAHATI: Union Finance Minister Nirmala Sitharaman presented the Budget on February 1, outlining key measures and allocations that are poised to impact various sectors.
FM Sitharaman mentioned that there will be no changes in taxation.
"In keeping with convention, I do not propose to make any changes relating to taxation and propose to retain the same tax rates for direct and indirect taxes including import duties. However, certain tax benefits to startups and investments made by sovereign wealth or pension funds as also tax exemption on certain income of some IFSC units are expiring on 31.3.2024; to provide continuity, I propose to extend the date to 31.3.2025," FM said.
Additionally, a move is set to benefit one crore households, as they will receive up to 300 units of electricity monthly through rooftop solarisation.
Addressing national security, the Finance Minister stated that the defence outlay will amount to 3.4% of the Gross Domestic Product (GDP). Furthermore, the Ayushman Bharat scheme will witness an expansion, covering all Anganwadi and Asha workers, ensuring broader health coverage for these frontline workers.