Sat, Jun 29, 2024 10:44 AM
Akasa Air announces pay day sale, up to 20% discount on airfares
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Senior citizens in India are seeking financial relief in the upcoming Union Budget 2024-25. They want higher threshold for mediclaim premiums, increasing the deduction limit from Rs 50k to Rs 1 lakh. They also want to lower age limit for ITR exemption from 75 to 60 years, rationalize the lock-in period for investments under Section 80C, and introduce deductions for rent and passive income sources.
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China's factory activity remained steady in June, with the official PMI holding at 49.5, indicating a slow recovery. A private-sector survey by Caixin showed a more optimistic 51.8, but confidence among purchasing managers fell due to intense competition. The reading suggests the recovery lost some momentum, with mixed signals on the impact of measures to boost the property sector.
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A study by Capitalmind Financial Services found that India's top 500 companies provided a median return of -0.1% across 24 Budget days since 2000, implying that Union Budgets have little impact on stock performances. The study advises long-term investors to avoid making investment decisions based on Budget announcements, instead focusing on underlying corporate earnings growth.
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