Job creation
Ambitious scheme to boost job creation in the manufacturing sector, specifically targeting first-time workers.
Key components of this initiative include EPFO contribution incentives for both employees and employers for the first four years of employment
Expected benefits reaching 3 million young people, fostering employment across various sectors
Government reimbursement of up to ₹3,000 per month for two years for each additional employee’s EPFO contributions
MSME sector & Housing
A new credit guarantee scheme for term loans aimed at purchasing machinery and equipment without the need for collateral
On the infrastructure front, the Budget allocates ₹10 lakh crore to the PM Awas Yojana Urban 2.0, addressing the housing needs of the urban poor and middle class
An additional ₹2.2 lakh crore initiative focuses on making housing more affordable, to improve living standards
Other highlights
Removing angel tax is a very positive step to boost start-up morale.
Simplified rules and recognition for FDIs aims to facilitate inflow and promote the use of the Rupee for overseas investments.
Numerous reforms in tax law operations are introduced to simplify the process for taxpayers and rationalise tax rates
The market is expected to absorb a slight increase in long-term and short-term capital gains taxes from 10% and 15% to 12.5% and 20%, respectively
COMMENTS