A digital screen displays a broadcast of the budget speech by Indian Finance Minister Nirmala Sitharaman on the facade of the Bombay Stock Exchange (BSE) in Mumbai. Pics/AFP and PTI
The Sensex saw a modest gain of 6.75 points, opening at 71,729.64, while the Nifty rose by 5.95 points, commencing the day at 21,731.64. The market performance was indicative of a cautious optimism among investors
Union Finance Minister Nirmala Sitharaman presented the Interim Budget for the fiscal year 2024, underlining the government's commitment to stability in taxation and a strategic approach to encourage economic growth
The Finance Minister made no changes in the taxation structure in what can be seen as a relief to taxpayers
Sitharaman acknowledged certain impending changes in tax benefits and exemptions. She addressed the expiration of tax benefits for startups and investments made by sovereign wealth or pension funds, along with the tax exemption on specific income of some International Financial Services Centre (IFSC) units
To ensure continuity and provide a seamless transition, the Finance Minister proposed an extension of the expiration date to March 31, 2025
Nirmala Sitharaman also revealed the government's ambitious plan to create a corpus of Rupees One Lakh Crore to propel private investment in sunrise technologies
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