<\/span><\/h2>\nExpectations: It was widely anticipated that there would be no change in the short
\nterm and long term capital gains from equities. With the governments concern over
\nhigher derivatives trading, additional taxation on this segment was expected.
\nThe budget surprised with a hike in both short term as well as long term capital gains
\nfor certain asset classes. Short-term capital gains to be 20%. LTCG to be 12.5% for
\nsome assets. STT increased from 0.1% to 0.2%. STT also increased for Future &
\nOptions: STT on F&Os proposed to be increased to 0.02% and 0.01% respectively.
\nOther key highlights<\/p>\n
While we have broadly covered the major sectors and their expectations, there were <\/strong>some other important announcements in the budget as well. These include:<\/strong><\/p>\n\n- \u00a0Standard Deduction on New Tax Regime raised from Rs 30,000 to Rs 75,000.<\/li>\n
- Customs duties on gold, silver cut to 6%, platinum to 6.4% and Lithium,
\nCopper, Cobalt exempted from Custom Duty<\/li>\n - Industrial parks will be developed in or near 100 cities. These would be
\nInvestment-ready \u201cplug and play" industrial parks to be developed in or near
\n100 cities. 12 industrial parks sanctioned under National Industrial Corridor
\nDevelopment Programme.<\/li>\n - Programme and Upgradation of Industrial Training Institutes with 1,000 ITIs to
\nbe upgraded in hub & spoke arrangements in 5 years. These will have a focus
\non outcome and quality in collaboration with states and industry<\/li>\n - \u00a0Under the PM Awas Yojana-Urban, the housing needs of one crore poor and
\nmiddle class families will be addressed with an investment of \u20b910 lakh crore.<\/li>\n<\/ul>\n<\/span>Conclusion:<\/strong><\/span><\/h2>\nThe Budget 2024-25 largely met macroeconomic expectations but fell short in
\nspecific areas like tax reforms and aggressive sectoral incentives. The initial market
\nreaction, as seen in the Sensex decline, reflects these unmet expectations and
\nconcerns about the feasibility of fiscal targets amid global economic uncertainties.
\nWhile the budget laid out a comprehensive plan for growth and welfare, its
\nimmediate impact on investor sentiment highlights the delicate balance between
\npolicy announcements and market expectations.<\/p>\n
<\/span>Frequently Ask Questions:-<\/strong><\/span><\/h2>\n<\/span>What is the meaning of Budget?<\/span><\/h2>\nThe budget is\u00a0a spending plan based on income and expenses of the Government of
\nIndia. In other words, it’s an estimate of how much money you’ll make and spend
\nover a certain period of time, such as a month or year.<\/p>\n
<\/span>What is Fiscal Deficit?<\/span><\/h2>\nFiscal deficit is\u00a0the difference between the total revenue and total expenditure of a
\ngovernment in a financial year.<\/p>\n
<\/span>What are the income tax slab rates as per the Budget?<\/span><\/h2>\nAs per the latest budget, the income tax slabs have been revised for those filing
\nreturns under the new tax regime. This includes no tax up to Rs 3 lakh and maximum
\nslab of 30% for income above Rs 30 lakh<\/p>\n
<\/span>What is the budget allocation for agriculture sector?<\/span><\/h2>\nAccording to the Budget 2024-25, the government has announced a provision
\nof\u00a0\u20b91.52 lakh crore for the agriculture and allied sectors and provides \u20b92.66 lakh
\ncrore for rural development<\/p>\n
<\/span>What are changes in short term and long term capital gains in this Budget?<\/span><\/h2>\nShort-term capital gains to be 20%. LTCG to be 12.5% for some assets. This is
\nhigher than 10% for LTCG and 15% from STCG earlier.<\/p>\n
<\/span>What is the standard deduction as per the Budget?<\/span><\/h2>\nStandard Deduction on New Tax Regime raised from Rs 30,000 to Rs 75,000.<\/p>\n
<\/span>What is the allocation for housing under the Budget?<\/span><\/h2>\nUnder the PM Awas Yojana-Urban, the housing needs of one crore poor and middle
\nclass families will be addressed with an investment of \u20b910 lakh crore.<\/p>\n","protected":false},"excerpt":{"rendered":"
There were a lot of anticipations from this budget, considering that it is the first full fledged budget after formation of Modi 3.0 Government. Analysts and economists expected that this budget would probably balance growth along with increased focus on allocation to sectors like agriculture and healthcare. Given the record of the last decade, the<\/p>\n","protected":false},"author":23,"featured_media":26918,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[842],"tags":[890],"class_list":["post-25720","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-budget-2024"],"metadata":{"_last_editor_used_jetpack":["block-editor"],"_edit_lock":["1730110688:23"],"_edit_last":["23"],"rank_math_internal_links_processed":["1"],"rank_math_seo_score":["17"],"_ez-toc-disabled":[""],"_ez-toc-insert":[""],"_ez-toc-header-label":[""],"_ez-toc-alignment":["none"],"_ez-toc-heading-levels":["a:0:{}"],"_ez-toc-alttext":[""],"_ez-toc-visibility_hide_by_default":[""],"_ez-toc-hide_counter":[""],"_ez-toc-exclude":[""],"_ez-toc-position-specific":["before"],"rank_math_primary_category":["842"],"rank_math_title":["Budget July 2024: Expectations and surprises "],"amazonS3_cache":["a:4:{s:94:\"\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2024\/07\/23183136\/INCOME-TAX.jpg\";a:2:{s:2:\"id\";i:25724;s:11:\"source_type\";s:13:\"media-library\";}s:62:\"\/\/univest.in\/blogs-2\/wp-content\/uploads\/2024\/07\/INCOME-TAX.jpg\";a:2:{s:2:\"id\";i:25724;s:11:\"source_type\";s:13:\"media-library\";}s:98:\"\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2024\/07\/23183310\/infrastructure.jpg\";a:2:{s:2:\"id\";i:25725;s:11:\"source_type\";s:13:\"media-library\";}s:66:\"\/\/univest.in\/blogs-2\/wp-content\/uploads\/2024\/07\/infrastructure.jpg\";a:2:{s:2:\"id\";i:25725;s:11:\"source_type\";s:13:\"media-library\";}}"],"_thumbnail_id":["26918"],"post_views_count":["65"],"_elementor_edit_mode":["builder"],"_elementor_template_type":["wp-post"],"_elementor_version":["3.24.7"],"_elementor_css":["a:7:{s:4:\"time\";i:1735361383;s:5:\"fonts\";a:0:{}s:5:\"icons\";a:0:{}s:20:\"dynamic_elements_ids\";a:0:{}s:6:\"status\";s:5:\"empty\";i:0;s:0:\"\";s:3:\"css\";s:0:\"\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2024\/10\/18181943\/portfolio-6-2.jpg","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/25720","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=25720"}],"version-history":[{"count":3,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/25720\/revisions"}],"predecessor-version":[{"id":25726,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/25720\/revisions\/25726"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/26918"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=25720"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=25720"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=25720"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}