Back
Niket Raj Dwivedi
•
Medial • 10m
Union Budget 2024-25: Key Highlights for Startups and MSMEs 🚀 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: 🔸 Angel Tax Abolished: Starting April 1, 2024 🔸 Digital Tax on Foreign Companies Abolished: Starting August 2024 🔸 Short-Term Capital Gains Tax: Increased to 12.5% from 10% 🔸 Long-Term Capital Gains Tax: Increased to 20% from 15% Skilling & Employment: 🔸 One-month wage for new formal sector employees 🔸 Incentives for manufacturing sector employers 🔸 1,000 ITIs to be upgraded 🔸 Loans for upskilling and higher education Space Economy: 🔸 INR 1,000 Cr venture fund for spacetech startups Manufacturing Growth: 🔸 Reduced customs duty on mobile phones, PCBAs, and chargers to 15% 🔸 New ecommerce exports hub for MSMEs 🔸 Reduced duties on critical minerals and components 🔸 Increased customs duty on importing PCBs for telecom MSME Credit Push: 🔸 Credit guarantee for machinery/equipment purchases 🔸 Enhanced MSME credit assessment by public sector banks 🔸 Mudra loan limit doubled to INR 20 Lakh 🔸 Expansion of TReDS trade invoicing platform 🔸 New SIDBI branches in major MSME clusters Digital Business & Infrastructure: 🔸 Digital infrastructure push in agriculture, finance, ecommerce, education, and health 🔸 TDS rate on ecommerce reduced from 1% to 0.1% 🔸 Urban land records to be digitized with GIS mapping
Replies (6)
More like this
Recommendations from Medial
Download the medial app to read full posts, comements and news.