The Union Finance Minister, Nirmala Sitharaman, presented the Union Budget 2024 in Parliament on Tuesday, marking her seventh consecutive budget presentation.
These included an increase in expenditure to create more job opportunities, revision in tax slabs under the new tax regime , changes in capital gains taxes, customs duty reductions
Meanwhile, the equity markets remained volatile on Budget day, led by massive sell-offs. The benchmark equity indices, the BSE Sensex and the NSE Nifty50, plunged over 1 per cent
The Union Budget 2024-25 has presented short-term challenges for the markets. The rise in capital gains tax rates and the increased STT are a short term negative.