Insider Scoop- "Rupee Hits All-Time Low, Shashi Tharoor Applauds Major Budget, Decoding the Budget, Bihar Cricket's Big Win, Nitish Kumar Reacts Slowly to Bihar"
23rd July, 2024
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1. “Rupee Hits All-Time Low: Impact of New Capital Gains Tax Increase”
Indian rupee hits record low of 83.69 per US dollar.
Government tax hike on capital gains drives decline.
Finance Minister Nirmala Sitharaman proposes higher exemption limit of Rs 1.25 lakh per year.
Stock market falls after budget announcements.
Foreign institutional investors remain net buyers in capital markets.
Economic Survey 2023-24 projects GDP growth of 6.5-7% in 2024-25.
#budget#markets#GDP
2. “Shashi Tharoor Applauds Major Budget Reveal: A Comprehensive Look”
Congress MP Shashi Tharoor criticized the Union Budget as "underwhelming," calling it a "copy-paste" exercise.
However, he praised the abolition of angel tax, a move initially recommended by him.
The government removed angel tax on all investors to promote startup growth.
Finance Minister Nirmala Sitharaman announced the move in her seventh budget presentation.
Angel tax was previously imposed on domestic investors only but was expanded to include foreign investments this year.
#budget#startup#Congress
3. “Exclusive Insight: Decoding the Budget - How It Echoes PM's May Interview with NDTV”
PM Modi's priorities in May interview reflected in Budget 2024.
Budget focuses on job creation and welfare schemes for asset generation.
Incentives for private sector job creation, professionals, and EPFO registrants.
Internship opportunities and allowances for 1 crore youngsters.
Capital gains exemption increased to Rs 1.25 lakh per year.
Tax slabs revised under new regime, saving salaried employees up to Rs 17,500.
Unique Land Parcel Identification Number (Bhu-Aadhaar) proposed for all land tracts.
Credit support schemes and loan limit increase for MSMEs.
#crore#Modi#employee
4. “Bihar Cricket's Big Win: Celebrating the Historic Budget Boost”
Bihar Cricket Association welcomes Union Budget announcements for developing sports infrastructure in the state.
Finance Minister Nirmala Sitharaman allocated funds for advanced sports facilities, medical support, and athlete development.
BCA President Rakesh Tiwari describes it as a "historic moment" for Bihar's sports community.
The investments aim to make Bihar an "engine" in India's development.
Infrastructure projects include the Patna-Purnia Expressway and an additional bridge over the Ganga at Buxar.
#war
5. “Nitish Kumar Reacts Slowly to Bihar's Denied Special Status: 'Dhire Dhire...'“
Dhire...:**
Centre denies special status to Bihar.
Bihar CM Nitish Kumar says "You will know everything in due course."
JDU, led by Kumar, had demanded special status in a national executive meeting.
Opposition RJD demands Kumar's resignation for allegedly compromising Bihar's aspirations.
Kumar has been pushing for special status since 2000.
Only 11 states currently have special status, which offers increased central support.
Minister of State for Finance Pankaj Chaudhary says "case for Special Category Status for Bihar is not made out."
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