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Finshots Daily

The Budget 2024 explained

Jul 24, 2024
Exploring the key components of FY25 budget, including employment-boosting measures, support for women in the workforce, incentives for companies and startups. Details on personal income tax changes, standard deductions, tax rates, contributions to National Pension Scheme deductions, and effects on capital gains taxes.
09:53

Podcast summary created with Snipd AI

Quick takeaways

  • New employment schemes aim to boost job creation and upskilling workforce.
  • Tax incentives introduced to support startups and streamline tax processes for certain industries.

Deep dives

Government's Efforts towards Encouraging Employment

The government introduced three new employment linked incentive schemes aimed at increasing job creation and upskilling the workforce. These schemes provide benefits for both employers and employees, including reimbursing employers for EPF contributions for new hires. Additionally, the government plans to skill 20 lakhs youth through upgraded industrial training institutes with a government-backed loan scheme to support students financially.

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