7 Major Takeaways From Union Budget 2024

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Focus on Skilling and Employment

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Upgrading Industrial Training Institutes

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Angel Tax

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Capital Gains Tax Increases

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Support for Spacetech Startups

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Reduced Customs Duties

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MSME Credit and Export Support

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Learn More About Union Budget 2024 With Inc42

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[Key Takeaways] Decoding The Budget For Startups: Mixed Bag For Taxes; Big Boost For Manufacturing

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7 Major Takeaways From Union Budget 2024

Focus on Skilling and Employment

Huge focus on skilling and employment, with incentives for new workers and employers in various sectors.

Upgrading Industrial Training Institutes

1,000 Industrial Training Institutes to be upgraded, with loans for upskilling and higher education.

Angel Tax

Angel tax for startups abolished, 2% digital tax on foreign companies removed, and TDS for ecommerce reduced to 0.1%.

Capital Gains Tax Increases

Short-term capital gains tax raised to 12.5% from 10%, and long-term capital gains tax increased to 20% from 15%.

Support for Spacetech Startups

INR 1,000 Cr venture fund for space economy announced, with reduced customs duty on critical minerals and inputs.

Reduced Customs Duties

Customs duties on key materials lowered to boost manufacturing, with specific focus on electronics, EVs, and telecom equipment.

MSME Credit and Export Support

Credit guarantee schemes for MSMEs expanded, with doubled MUDRA loan limit and new ecommerce export hubs for MSMEs.

Learn More About Union Budget 2024 With Inc42

[Key Takeaways] Decoding The Budget For Startups: Mixed Bag For Taxes; Big Boost For Manufacturing