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New Delhi: Finance Minister Nirmala Sitharaman today presented Union Budget 2024 in Parliament. This was an interim budget as it came just ahead of the Lok Sabha Elections. No changes were announced in the tax slabs in both old and new regime.
This is Nirmala Sitharaman’s sixth Union Budget. The full-fledged budget will be presented by the new government that comes to power after the elections.
The interim budget – a short-term financial plan – seeks Parliament nod for a grant in advance to meet the government’s essential expenditure for the first four months of the new financial year.
The Budget Session of Parliament began yesterday with President Droupadi Murmu addressing the joint meeting of both Rajyya Sabha and Lok Sabha. The session will conclude on February 9.
Stock markets opened in green today, ahead of the interim budget.
Withdrawal of outstanding direct tax demands up to ₹ 25,000 pertaining to period up to financial year 2009-10 and up to ₹ 10,000 for financial years 2010-11 to 2014-15. Will benefit a crore taxpayers, says Nirmala Sitharaman.
Finance Minister Nirmala Sitharaman said that Goods Service Tax (GST has” enabled ‘one nation one market one tax’. “Tax reforms have led to deepening, widening of tax base,” she said.
No change is expected in tax rates for individual taxpayers opting for the regular tax regime
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