Notes from the CIO's Desk: The Union Budget of India 2024-25

Pradeep Gupta, Executive Director & India head of Investments, Lighthouse Canton shares a comprehensive overview of the recent Union Budget of India.

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The following are the key highlights of India’s bold vision for growth:

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• Infrastructure: INR 11.11 lakh crore allocated for infrastructure, including long-term interest-free loans to states and major projects like the Polavaram Irrigation project.
• Agriculture: Comprehensive review of agricultural research, promotion of high-yield and climate-resilient crops, and initiatives to achieve self-sufficiency in oil seeds.
• Energy: INR 1 lakh crore for Bharat Small Reactors, cleaner energy transition for industries, and the Pradhan Mantri Surya Ghar Muft Bijli Yojana for free solar electricity.
• Defense: INR 6.2 lakh crore for defense spending, focusing on modernization and domestic procurement.
• Manufacturing & Services: Enhanced credit guarantees for MSMEs, significant industrial park developments, and the launch of the Critical Minerals Mission.
• Housing: Expansion of the Pradhan Mantri Awas Yojana with an allocation of INR 1 lakh crore for urban housing.

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Additionally, the budget includes key tax reforms, such as the abolition of the angel tax, adjustments in securities transaction tax, and corporate tax reductions for foreign companies.

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Check our report below to gain key insights about the same

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