The Finance Minister of India Nirmala Sitharaman presents her 7th consecutive budget
With Indian economy becoming the 5th largest globally and current year’s economic growth estimated at 7.2%, this year’s Union Budget is focused on employment, skilling, MSME and the middle class. In presenting her 7th consecutive budget, India's Finance Minister, Nirmala Sitharaman, also stated the priorities of the budget which were as follows:
- Productivity and Resilience in Agriculture
- Employment and Skilling
- Inclusive Human Resource Development and Social Justice
- Manufacturing and Services
- Urban Development
- Energy Security
- Infrastructure
- Innovation, Research and Development
- Next Generation Reforms
MGI India members, CRS Consulting and Gopal Chopra & Associates have prepared budget highlights and a review of the impact on businesses and industries.
A further detailed analysis on income tax amendments and taxation on buy back of shares by India companies can be found on the below links - thank you to B.C. Shetty & Co. for sharing.
Proposed Income Tax Amendments vide Interim Budget 2024
Taxation on Buy Back of Shares by India Companies
For more information please contact one of our India-based member firms or reach out to Regional Director for Asia, Audrey Danasamy.
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