Budget announcements on February 1 will not have any impact on the current tax structures. The rates, slabs, deductions, and rules remain unchanged under both the old and new tax regimes. However, the deadline of March 31 to make tax-saver investments under the old regime is also fast approaching and there is a choice to be made. Should you opt for the new income-tax regime.

The 2024 interim budget kept focus on fiscal consolidation, announcing moderate growth in capital expenditure aimed at infrastructure development. However, it fell short of expectations for specific sectors such as automotive, defence, and fertilisers, which saw reduced allocations compared to the previous year. Not surprisingly, these sector stocks were muted in today's trade.

Budget 2024 failed to give any thrust to electoral bonds in an election year, even though these bearer banking instruments launched in 2018 have been mopping up 55.09 percent of the overall donations made to political parties. In the year 2021-22, Rs 2,664.2725 crore were diverted to political funding through electoral bonds. To clean up the system and streamline political donations.

The interim Union Budget of India for the financial year 2024-25 is a comprehensive plan aimed at fostering economic growth while exercising fiscal restraint. The Budget points to four major ‘castes’ — the poor, the farmers, the women, and the youth of the country, and correctly considers their needs and welfare as the highest priority.

India is discussing bilateral investment treaties with other nations to boost foreign inflows, Finance Minister Nirmala Sitharaman said on February 1 during the Interim Budget session. (Image: PTI) India is negotiating this pact with countries like the United Kingdom. These investment treaties assist in promoting and protecting investments in each other's countries.

NEW DELHI: Somany Ceramics has reported a growth of 104.01 per cent in its net consolidated profit during the quarter ended December 30, 2023. Its profit after tax stood at Rs 23.40 crore in Q3 FY24 as against Rs 11.47 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.The company's net consolidated total income stood at Rs 614.95 crore.

NEW DELHI: Aptus Value Housing Finance India has reported a growth of 25.50 per cent in its net consolidated profit during the quarter ended December 30, 2023. Its profit after tax stood at Rs 157.58 crore in Q3 FY24 as against Rs 125.56 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.The company's net consolidated total income stood.

The Interim Budget 2024 marks an important turning point for India, as it unlocks India's growth potential and creates a launchpad for the next trillion. The visionary budgetary allocation of Rs 11,11,111 crore, constituting 3.4 percent of the GDP, for expedited infrastructure expansion, under the banner of 'Viksit Bharat', signals a transformative era for the country's development.

Despite the pre-election vote-on-account budget, the government has shown credible restraint in announcing big-ticket rural or social welfare schemes. Sticking to the path of fiscal prudence, the government continues to allocate heavily towards infrastructure build-up while working on inclusive growth. Finance Minister Nirmala Sitharaman again highlighted the resolve to make India.

The government has allocated Rs 57 crore for drones and components under the PLI scheme in the interim budget of 2024, an increase of 72% from the previous year. This move aims to promote manufacturing in India and support the Atmanirbhar Bharat initiative. The full budget for FY25 will be presented after the general elections, and this allocation is expected to boost the country's manufacturing.

The domestic auto industry, especially electric vehicles (EV), got a major fillip in the interim budget presented by the Finance Minister Nirmala Sitharaman on February 1. Apart from announcing its plans to expand and strengthen the electric vehicle (EV) ecosystem in the country by supporting manufacturing and charging infrastructure, the government increased the budget outlay for automakers.

Singaporean sovereign wealth fund Temasek Holdings sold its 5.42% stake in Policybazaar's parent company, PB Fintech, for Rs 2,425 crore through open market transactions. The shares were disposed at an average price of Rs 992.8 apiece and US-based Capital Group acquired them. PB Fintech reported a net profit of Rs 37.2 crore for the third quarter, with a jump in revenue from operations of 42.7%.

India's finance minister Nirmala Sitharaman stated that the country's economic growth is picking up speed in all sectors, with a new "buoyancy" in growth. This is different from past patterns where only certain sectors would see growth at a time. Now, all sectors are contributing to the economy's growth, boosted by the drive of Indian consumers and their positivity.

Markets slightly dipped after Budget announcements, with Nifty closing at 21,697. PSU banks performed well, while banking, auto, and energy stocks saw gains. Several stocks, including Maruti and HDFC Life, experienced a price-volume breakout. EV and green energy sector stocks also trended, with Suzlon and Gensol Engineering seeing increases.

Wall Street rebounded with higher opening numbers on Thursday after the previous session's selloff, caused by the Fed's announcement of no immediate interest rate cuts. Economic data and Big Tech earnings are now in focus, with the S&P 500 up 0.32%, Nasdaq Composite up 0.59%, and Dow Jones Industrial Average up 0.07%.