Budget 2024: Hits & Misses | Faye D'Souza

Union finance minister Nirmala Sitharaman presented the budget for 2024-25 today. What were the big hits and misses? What were the main takeaways? Faye D'Souza breaks it down for you.
Tax slabs 2024-25
Rs 0-3 lakh - nil
Rs 2-7 lakh - 5%
Rs 7-10 lakh - 10%
Rs 10-12 lakh - 15%
Rs 12-15 lakh - 20%
Over Rs 15 lakh - 30%
Research by: Sara Varghese and Ajit Andhare
Edit by: Nitin Bharadwaj
Produced By: Ira Jha
#budget2024 #nirmalasitharaman #unionbudget #budgetpresentation #budgetsession #indianbudget #budgetlive #fiscal2024 #financebudget #budgetupdates #budgethighlights #economicpolicy #financialplanning #budgetannouncement #budgetanalysis #indiangovernment #publicfinance #budgetnews #economicgrowth #budgetdiscussion #news #fayedsouza #financenews #finance #indiafinancenews #economics #indianeconomics
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[@ak77z]

Sad for stock investors . Needs to protest

[@EjazAyoub]

Corporate tax remains untouched.. Given the rising income and wealth inequality in India, income redistribution objective of the fiscal policy should have been pushed much aggressively..

[@adityade897]

😂😂it decreased to 35 percent

[@annamalaian0711]

Heard of trickle down economics? Increasing corporate tax is the worst thing you can do.

[@urjathakkar]

@@annamalaian0711trickle down economics is a delusion

[@LuciferScreams]

​@@annamalaian0711 that's why put tax on start ups right? So that no one can be compete with the frnds of pm

[@Canldywlsk]

Really want someone to highlight for the stripend for internships is kept at 5k per month, for a 12 month internship. Considering they would be given by top 500 companies in India and they only will have to spend 10% of CSR funds on free human capital. This speaks volumes about how we treat the Human resources in this country and why they would rather get a minimum wage job abroad

[@anshikakushwaha3423]

Why does my mind immediately thought that bihar got money because of what happened in election😂 Removing Indexation 😵 please they just keep creating new problems instead of solving old ones L government

[@anshikakushwaha3423]

They reduced customs for their riche rich friends☺️

[@jayk7662]

Only misses no hits

[@RameshKumar-kb7hp]

It is best to leave India and move to a different country 😄

[@beyonder7817]

yes take me with yourself

[@anirudhmenon4234]

Which country? Everywhere it's horrible right now.

[@mohan1997]

Budget 24 of "LootUs Party" in a nutshell "To rob People to pay NiCh"

[@AjnaPM]

New tax slab is only applicable for new regime right?

[@shobiav3903]

yes

[@krishmagupta8466]

5k per month stipend is too low for 12-month internship given inflation and the fact that many of these internships might be in tier 1 cities with sky high rents. I remember as a student any european organisation taking an intern for 4 or more weeks had to pay ~500 EUR per 4 weeks to the student. Even the PPP conversion to INR would be at least INR 15k per month.

[@EjazAyoub]

Income tax slabs have been reviewed only under New Income Tax Regime. Nothing under the old tax regime

[@Himtim]

Very nicely summarised. Kudos

[@AbhishekGupta-yy8is]

Is the increase in standard deduction from 50k to 75k only for new regime or for both old and new?

[@EjazAyoub]

Only New

[@AbhishekGupta-yy8is]

​@@EjazAyoub That's too bad then

[@vividguy86]

Old tax regime will be abolished in a couple of years

[@pragyanpandit4758]

What with above 15lakhs -30%? One with 30 lakh income will pay 30% Other with 17 lakh income will also pay same 30%. Nothing on old tax regim.Too much priority focused on Bihar and AP. Internship wage, well it's new ,seems hidden love for congress manifesto. Custom duties reduction equal for super rich and super poor. So much Capital investment by govt,yet we're stucked with poor infrastructures.

[@prakhargupta5210]

Great Video

[@RKV8527]

How can it be cheaper "? College owners have already hiked fees today to increase their profit, So students will not benefit from the bank loan & subsidy scheme. In January 2024, when the solar ROOF top panel subsidies were hiked, manufacturers increased the price of solar panels, resulting in net outflow for consumers. The cut in taxes and subsidies without freezing the prevailing price IS TO HELP THE RICH ONLY. BTW, in which college the students will join to study with a Rs 10 lakh loan when there are no world-class universities in India to replace foreign study and parallel part-time jobs. Is it to support Ambans who has set up colleges? Education loan burden is aBIG CURSE already on the students who are struggling to repay loans without jobs and underpaid jobs. Why should consumers buy Gold by paying taxes? FM-headed Customs department has been liberally closing its eyes, to allowing gold smuggling by the Malppuraam community, in huge quantity, daily.

[@komalprakash6789]

Nice observations. I agree

[@siddarthjay3787]

Custom duty is down "to 15%" , not "by 15%"

[@BeTheStar08]

Railway ka budget gayab?

[@RKV0785]

(1) New tax model is encouraged Why old tax model for corporate Balance sheet ? There are complexities, depreciation,write off, business meetings, vehicles, and several perks to escape income tax Please introduce a new tax model for corporate balance sheet (2) NPS is encouraged with 14% offer. Why not introduce NPS for MPs and MLAs and Judges ?

[@adnansait7143]

No tax up to ten lacs would have been ideal for so many

[@tomsberk2944]

Always did I wonder why the Indian media is afraid to come up with a genuine review of the previous year's budget! A new budget contains only revenue- increasing tricks and promises. The first part will be vigorously implemented. But more important is to what extent those promises were realised during its running. Promises are nothing, but their executions are! In India most of the budgetary promises are not realised at all! I do believe that a genuine review of the previous year's budgetary performance will shock the whole country with its alarming non- performance! These analysts of a new budget are actually part of a vicious mafia misleading the poor foolish people of India!

[@RKV8527]

NPS has been encouraged with 14% offer

[@PKL2006]

Naari naari karte hai BJP WALE, what exactly have they done for the women? This time as well no specific schemes for our female counterparts sad

[@akazanaoyasu3363]

koi simple bhasha mein samjha do ki agar meri 32k salary hai, to mereko kitna tax bharne ka 🥲

[@GloomyGlue]

Depends on other benifits your are getting from the employer as well. But suppose you get 32,000 per month salary without any other benefits. So it's 384,000 per year. There is 0% tax on income below 300,001 so 384,000-300,000 = 84,000. There is 5% for income upto 300,001 to 500,000 so 5% of 84,000 will be ₹4,200. Tax liability will be ₹4,200. You can get a tax rebate as well so you'll get tax return. Better consult a CA

[@njain1983]

Only a professional can only guide you properly and that too only after knowing what are the different components of your salary e.g. out of 32K whats cash component, whats PF etc. Here is a rough estimate - I am assuming its 32K monthly. That equates to 3.84 lakhs p.a. For first 3 lakhs there is no tax, the remaining 84K max tax payable will be Rs 4200 (5% of 84K) . But even that I dont think you will need to pay as you can claim different deductions

[@akazanaoyasu3363]

bhai ye 4200 rupaye monthly bharne honge ya yearly ?

[@GloomyGlue]

@@akazanaoyasu3363 year

[@francisdique6496]

U b Ur own judge Faye._ Bye 👋👍🙏🙏🙏

[@Bhaaraat]

Faye are you drunk 😂😂

[@thedhanvijay]

Angrejan hindi me bata thoda or view milenge

[@3v317]

Even after paying taxes, we are left with bad roads, frequent electricity issues, water shortages, a weak public healthcare system, neglected educational opportunities in public schools, inadequate services for senior citizens, terrible public transportation, no good facilities for our soldiers and their families and rampant corruption in government offices. It makes me question why we even bother paying taxes anymore.

[@ir6686]

Really Who Gives A Flying Fuc₹ about The Budget why wast you'r time Explaining to Us About this Budget When the Same Shi₹ will Happen again in the Next Budget Don't wast our Time..