Analysis of Budget 2024

General Perception of the Budget

• Budget 2024 is considered quite negative for the middle class.
• This budget is beneficial for industrialists like Adani and Ambani.
• Special packages have been given to Bihar and Andhra Pradesh.

Importance of the Budget

• The budget is a compiled data of the government's annual revenue and expenditure.
• The budget mentions sources of government income and expenses.

Overview of Budget 2024

• Defense: The highest budget allocation.
• Education and Unemployment: Special attention given.
• Health: Less allocation than the previous budget.

Analysis of Tax Slabs

• There is no change in the tax slabs for the middle class.
• The tax slab of 3-5 lakh rupees has remained, providing no particular benefit to the middle class.
• No relief in tax rates for people with maximum income.

Impact on the Stock Market

• Short-term capital gains tax increased from 15% to 20%.
• Long-term capital gains tax increased from 10% to 12.5%.
• Indexation benefits removed in the real estate sector.

Plans for Job Creation

• Collateral-Free Loan: Loan without any mortgage available.
• Skill Development: Internship and a stipend of 5000 rupees for 50 lakh youths.

Business Sector Perspective

• Startups will receive 100% funding.
• The limit of Mudra Loan increased from 10 lakh to 20 lakh.
• Corporate tax for foreign companies reduced from 40% to 35%.

Controversy over Special Packages

• Andhra Pradesh received a package of 15,000 crores rupees.
• Criticism of the special package is ongoing.

Personal Opinion

• The middle class and investors are disappointed with the budget.
• Real estate investors, in particular, are affected.
• This step by the government is perhaps to address the lack of resources.

Conclusion

• The burden on the middle class has increased.
• The middle class always suffers in political battles.
• The imbalance between the poor and the rich persists.

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