CRUCIAL TAKEAWAYS FROM BUDGET 2024-25

Capital Expenditure

11.11 lakh crore allocated, 3.4% of GDP, higher than last year's *9.5 lakh crore.

Income Tax Changes

Standard deduction in the new regime increased to ₹75,000 from 50,000; revised tax rate structure introduced.

Capital Gains Tax

Long-term capital gains tax increased to 12.5%, short-term to 20%, with a 1.25 lakh exemption limit.

STT on F&O

Securities Transaction Tax on Futures and Options raised to 0.02%.

Angel Tax Abolished

Government announces the abolition of Angel Tax.

Customs Duty Adjustments

Reduction on mobile phones and accessories to 15%; on gold and silver to 6%, platinum to 6.4%.

Employment and Skilling

2 lakh crore for PM Package of five schemes; 1.48 lakh crore for education, employment, and skilling.

Women Empowerment

3 lakh crore allocated for women and girls; hostels and women-specific skilling programs to be set up.

Agriculture and Rural Development

1.52 lakh crore for agriculture; 2.66 lakh crore for rural development; natural farming initiative for 1 crore farmers