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Niket Raj Dwivedi
ย โขย
Medialย โขย 1y
Union Budget 2024-25: Key Highlights for Startups and MSMEs ๐ Finance Minister Nirmala Sitharaman mentioned 'startup' just twice in her speech, but there's plenty for the startup ecosystem, manufacturing, and MSMEs in this budget! Here's the scoop: Tax Updates: ๐ธ Angel Tax Abolished: Starting April 1, 2024 ๐ธ Digital Tax on Foreign Companies Abolished: Starting August 2024 ๐ธ Short-Term Capital Gains Tax: Increased to 12.5% from 10% ๐ธ Long-Term Capital Gains Tax: Increased to 20% from 15% Skilling & Employment: ๐ธ One-month wage for new formal sector employees ๐ธ Incentives for manufacturing sector employers ๐ธ 1,000 ITIs to be upgraded ๐ธ Loans for upskilling and higher education Space Economy: ๐ธ INR 1,000 Cr venture fund for spacetech startups Manufacturing Growth: ๐ธ Reduced customs duty on mobile phones, PCBAs, and chargers to 15% ๐ธ New ecommerce exports hub for MSMEs ๐ธ Reduced duties on critical minerals and components ๐ธ Increased customs duty on importing PCBs for telecom MSME Credit Push: ๐ธ Credit guarantee for machinery/equipment purchases ๐ธ Enhanced MSME credit assessment by public sector banks ๐ธ Mudra loan limit doubled to INR 20 Lakh ๐ธ Expansion of TReDS trade invoicing platform ๐ธ New SIDBI branches in major MSME clusters Digital Business & Infrastructure: ๐ธ Digital infrastructure push in agriculture, finance, ecommerce, education, and health ๐ธ TDS rate on ecommerce reduced from 1% to 0.1% ๐ธ Urban land records to be digitized withย GISย mapping
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