Changes in Tax Structure
The standard deduction is now Rs. 75,000, up from Rs. 50,000. Income Tax Slabs: ₹0-3 lakh - Nil, ₹3-7 lakh - 5%, ₹7-10 lakh - 10%, ₹10-12 lakh - 15%, ₹12-15 lakh - 20%, ₹15 lakh+ - 30%
The standard deduction is now Rs. 75,000, up from Rs. 50,000. Income Tax Slabs: ₹0-3 lakh - Nil, ₹3-7 lakh - 5%, ₹7-10 lakh - 10%, ₹10-12 lakh - 15%, ₹12-15 lakh - 20%, ₹15 lakh+ - 30%
The government will launch three new employment-linked incentive schemes based on EPFO enrollment. A new skill development scheme will be introduced.
The government has allocated Rs. 1.52 lakh crore for agriculture and allied sectors, including financial support for Nucleus Breeding Centres for shrimp broodstocks.
Customs Duties Reduced in the 2024 Budget for Gold, Silver, Platinum, Mobile Phones, Chargers, and Broodstock by the Government of India.
The central government has announced significant financial aid for Andhra Pradesh and major infrastructure projects for Bihar.
The government has announced a credit guarantee scheme to help MSMEs obtain term loans for machinery without collateral.