3 Things The Catch Up: 23 July
Jul 23, 2024
Union Finance Minister presents Union Budget with focus on politically significant states; Taxpayers in highest bracket to save Rs 7,500; Mechanisms introduced for MSMEs; Custom duty reduction announced in 2024-25 budget
03:24
This is the Catch Up on 3 Things for the Indian Express and I'm Flora Swain.
It’s the 23rd of July and here are today's headlines.
Union Finance Minister Nirmala Sitharaman presented the Union Budget in Parliament today. Announcements were made for politically significant states such as Andhra Pradesh and Bihar, which are ruled by major NDA member parties. Rs 15,000 cr have been allocated for the development of Amaravati, the new capital of AP. No packages for Maharashtra or Haryana means the government is not too worried about near-term state elections and its focus is more on the full five years of its term.
Meanwhile, Taxpayers falling in the highest tax bracket — those with a taxable income of Rs 15 lakh or more — will save Rs 7,500 on account of enhancement in the standard deduction limit under the NTR. The government has also said mechanisms will be introduced to facilitate the continuation of credit to Micro, Small, and Medium Enterprises (MSMEs) facing stress, in an acknowledgment of the multiple headwinds faced by the sector. Further, to enhance revenue generation, a hike in Long Term Capital Gains tax has been announced, from 10% to 12.5%. The jump in equity investments and profit booking by investors is likely behind the move.
Presenting the Union Budget 2024-25, Finance Minister Nirmala Sitharaman on Tuesday announced a reduction in Customs duty on a range of input materials such as critical minerals, electronics, chemicals, and precious metals, among others. The government has focused on streamlining Customs duties to enhance revenue and support domestic manufacturing, she added.
The bench comprising Chief Justice of India, DY Chandrachud, Justices JB Pardiwala, and Manoj Misra resumed nearly 40 pleas related to the alleged irregularities on NEET UG. The Supreme Court said the initial statements of some of the accused arrested in the NEET-UG case indicated that a “leak” may have occurred on the night of May 4, on the eve of the exam, but no evidence had been placed before it so far to establish that the breach was widespread, so as to warrant cancellation of the exam. Senior advocate Hooda told the top court that the paper leak took place through WhatsApp so it was impossible that it was confined only to Patna in Bihar.
At least 157 people were killed in mudslides in a remote part of Ethiopia that has been hit with heavy rainfall, many of them as they tried to rescue survivors of an earlier mudslide, local authorities said today. Young children and pregnant women were among the victims of the mudslides in the Kencho Shacha Gozdi district of southern Ethiopia, said a local administrator. The death toll rose from 55 late Monday to 157 on Tuesday as search operations continued in the area.
This was the Catch-Up on the 3 Things by The Indian Express.
It’s the 23rd of July and here are today's headlines.
Union Finance Minister Nirmala Sitharaman presented the Union Budget in Parliament today. Announcements were made for politically significant states such as Andhra Pradesh and Bihar, which are ruled by major NDA member parties. Rs 15,000 cr have been allocated for the development of Amaravati, the new capital of AP. No packages for Maharashtra or Haryana means the government is not too worried about near-term state elections and its focus is more on the full five years of its term.
Meanwhile, Taxpayers falling in the highest tax bracket — those with a taxable income of Rs 15 lakh or more — will save Rs 7,500 on account of enhancement in the standard deduction limit under the NTR. The government has also said mechanisms will be introduced to facilitate the continuation of credit to Micro, Small, and Medium Enterprises (MSMEs) facing stress, in an acknowledgment of the multiple headwinds faced by the sector. Further, to enhance revenue generation, a hike in Long Term Capital Gains tax has been announced, from 10% to 12.5%. The jump in equity investments and profit booking by investors is likely behind the move.
Presenting the Union Budget 2024-25, Finance Minister Nirmala Sitharaman on Tuesday announced a reduction in Customs duty on a range of input materials such as critical minerals, electronics, chemicals, and precious metals, among others. The government has focused on streamlining Customs duties to enhance revenue and support domestic manufacturing, she added.
The bench comprising Chief Justice of India, DY Chandrachud, Justices JB Pardiwala, and Manoj Misra resumed nearly 40 pleas related to the alleged irregularities on NEET UG. The Supreme Court said the initial statements of some of the accused arrested in the NEET-UG case indicated that a “leak” may have occurred on the night of May 4, on the eve of the exam, but no evidence had been placed before it so far to establish that the breach was widespread, so as to warrant cancellation of the exam. Senior advocate Hooda told the top court that the paper leak took place through WhatsApp so it was impossible that it was confined only to Patna in Bihar.
At least 157 people were killed in mudslides in a remote part of Ethiopia that has been hit with heavy rainfall, many of them as they tried to rescue survivors of an earlier mudslide, local authorities said today. Young children and pregnant women were among the victims of the mudslides in the Kencho Shacha Gozdi district of southern Ethiopia, said a local administrator. The death toll rose from 55 late Monday to 157 on Tuesday as search operations continued in the area.
This was the Catch-Up on the 3 Things by The Indian Express.