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Budget 2024: New jobs schemes and other top highlights
VCCircle
ยท
11m ago
Medial
India's Finance Minister, Nirmala Sitharaman, presented the budget for the fiscal year 2024 with a focus on job creation and relief for the middle class. The government plans to allocate 2 trillion rupees ($24 billion) over the next five years for job creation. Additionally, various measures have been proposed to control inflation and stimulate economic growth, such as credit support for small businesses and the establishment of industrial parks. The budget also includes provisions for rural development and affordable housing.
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Related News
Create jobs: Mahindra reacts to jobless youth at Mumbai airport
Inshorts
ยท
11m ago
Medial
Despite public anger over Budget 2024, Finance Minister Nirmala Sitharaman emphasized job creation. Anand Mahindra supported this, highlighting a viral photo of 25,000 people vying for 600 jobs at Mumbai airport. Mahindra praised government schemes aiming to create 4.1 crore jobs with a โน2 lakh crore outlay, urging private sector involvement to prevent a demographic disaster.
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India achieves 1.4 lakh startups milestone; 67,499 led by women
Inshorts
ยท
11m ago
Medial
India's startup ecosystem thrives with over 1.4 lakh entities recognized by DPIIT as of June 2024, with 67,499 startups led by women. The Startup India initiative, launched in 2016, has fueled innovation, creating over 15.53 lakh direct jobs. Government schemes continue to support and enhance entrepreneurship nationwide.
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Delhi government has started process of preparing its budget for 2023-24
Money Control
ยท
1y ago
Medial
The Delhi government has begun the process of preparing its budget for 2023-24, asking departments to provide estimates based on a realistic assessment of funds required. The Finance Department emphasized the importance of utilizing the entire budget during the financial year and urged departments to avoid discrepancies between estimates and actual expenditure. The government hopes to avoid delays in implementing new schemes by requesting departments to include provisions for them in their budget estimates. The budget preparation process includes pre-budget meetings starting at the end of October.
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How AMFI suggestions for Union Budget can help mutual fund investors
Money Control
ยท
12m ago
Medial
Finance Minister Nirmala Sitharaman is set to announce the budget on July 23, 2024. The Association of Mutual Funds of India (AMFI) has recommended several key suggestions for the upcoming budget, including raising the Long Term Capital Gains (LTCG) threshold on listed shares and equity mutual funds to Rs 2 lakh, providing uniform tax treatment for pension-oriented mutual fund schemes, and offering taxation relief to fund of funds, gold funds, and overseas funds. AMFI has submitted a total of 13 proposals to the government regarding direct tax measures.
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Over 1.4 lakh recognised startups in India created more than 15.5 lakh direct jobs
Economic Times
ยท
11m ago
Medial
Recognized startups in India have generated over 15.5 lakh direct jobs, according to the government. The Department for Promotion of Industry and Internal Trade has recognized over 1.4 lakh entities as startups. Other initiatives, like the Prime Minister's Employment Generation Programme and the Deendayal Antyodaya Yojana-National Rural Livelihood Mission, have also supported job creation. The Ministry of Electronics and Information Technology has launched schemes, such as the Technology Incubation and Development of Entrepreneurs, that have supported startups and created jobs. The government has also implemented regulatory reforms to improve the startup ecosystem.
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Union Budget 2024-25: Edtech Sector Gets Boost As Govt Earmarks INR 1.48 Lakh Cr For Education, Skilling
Inc42
ยท
11m ago
Medial
The government has allotted INR 1.48 lakh Cr for education, employment, and skilling initiatives in the Union Budget 2024-25. Finance minister Nirmala Sitharaman announced the Prime Minister's package of five schemes to support employment and skill development for 4.1 Cr youth over the next five years. The government aims to focus on employment, skilling MSMEs, and supporting the middle class in its efforts to boost the economy.
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Budget 2024: Indiaโs deep-tech wants more patient capital
OutlookIndia
ยท
1y ago
Medial
India's deep tech industry is looking forward to Budget 2024, with hopes for more patient capital and sector-specific support initiatives. The government aims to promote deep tech as the focus of Startup India's second phase, with a focus on innovation and indigenous R&D capabilities. However, experts suggest that the lack of timely and substantial funding is hindering the sector's growth potential. They recommend exclusive schemes for deep tech, similar to the Production-Linked Incentive (PLI) schemes, and support for micro-VCs to drive investments at early stages. Additionally, there is a need for clear priorities and increased funding in specific areas within the deep tech sector.
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Budget 2024 Decoded: Neelkanth Mishra on Modi 3.0's Impact on Investment Strategies | Exclusive
Money Control
ยท
11m ago
Medial
In an exclusive interview with Moneycontrol, Neelkanth Mishra, Head of Global Research at Axis Capital, discusses the impact of the first budget under Modi 3.0 on investment strategies. Mishra highlights significant shifts and advises investors to reconsider their equity strategies based on these changes. Watch the interview to understand the implications of Budget 2024 on investment decisions.
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From AVGC Policy To Skilling: Rajasthan Budget 2024 Doubles Down Focus On Youth, Startups
Inc42
ยท
11m ago
Medial
The Rajasthan Budget for 2024 includes the introduction of the AVGC-XR Policy to promote innovation in the creative and technology sectors, with the goal of creating 50,000 jobs over the next five years. The budget also includes a corpus fund of INR 25 crore under the iStart program to support government procurement from startups, as well as subcontracting opportunities for startups. Additionally, plans are underway to establish Atal Innovation Studios and Accelerators in important cities of Rajasthan to nurture talent in emerging technological fields.
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Has the new income-tax regime killed tax-saving mutual funds? Not yet, butโฆ
Money Control
ยท
1y ago
Medial
The future of Equity-Linked Savings Schemes (ELSS) in India is uncertain due to the new tax regime, which made the new tax regime the default one and reduced the tax benefits of ELSS. Some mutual fund houses, like PPFAS Asset Management, have shifted their focus away from tax savings and emphasized pure India investment schemes. However, other fund houses remain optimistic about ELSS, citing the benefits of the compulsory three-year lock-in period and the potential for wealth creation. The overall market size of ELSS is smaller compared to other diversified funds, and financial advisors predict a decline in popularity as more people shift to the new tax regime.
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