Budget 2024 News Highlights: Need pension-focused schemes with NPS-like tax benefits, says AMFI
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5 min read | Updated on July 16, 2024, 16:54 IST
SUMMARY
Budget 2024 News Highlights: The Apparel Export Promotion Council (AEPC) suggested the government should increase the rates under the interest equalization scheme to 5% for all the apparel exporters for a period of five years.
FM Sitharaman will present the Union Budget for FY 2024-25 on July 23
Budget 2024 News LIVE Updates | Govt likely to scale down fiscal deficit target to 5% or less in Budget: ICRA
"The union government is likely to set a fiscal deficit target at 4.9-5%, lower than projected 5.% of GDP, without compromising the capital expenditure target of ₹11.1 lakh crore," ICRA Chief Economist Aditi Nayar told PTI. Read moreJuly 16, 2024, 16:46 PM
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Budget 2024 News LIVE Updates: Need pension-focused schemes with NPS-like tax benefits, says AMFI
Industry body Amfi has requested the government to allow mutual funds to offer pension-focused schemes -- Mutual Fund Linked Retirement Schemes (MFLRS)-- with similar tax benefits as the National Pension System (NPS).
In its Budget proposals to the Finance Ministry, the industry body has proposed that the tax treatment for NPS and Retirement/Pension oriented schemes launched by Mutual Funds should be aligned by bringing the latter also under Section 80CCD of Income Tax Act, 1961, PTI reported.
July 16, 2024, 12:09 PM
Budget 2024: Infra stocks to watch out amid government’s focus on development
The enhanced fiscal position has raised hopes of higher allocation for infrastructure sectors. As a result, investors are keen on the infrastructure shares ahead of the Budget 2024. The expectation of the government's infra push has put stocks like Larsen & Toubro, KEC International, RITES and others in focus. Read moreJuly 16, 2024, 12:00 PM
Budget 2024 LIVE Updates: Increase rates under interest equalisation scheme to 5% for all apparel exporters, APEC to govt
The Apparel Export Promotion Council (AEPC) suggested the government should increase the rates under the interest equalisation scheme to 5% for all the apparel exporters for a period of five years, news agency PTI reported.
July 16, 2024, 09:30 AM
Budget 2024 News LIVE Updates: Apparel sector seeks incentives to boost exports
Apparel exporters on Monday sought fiscal incentives including cut in customs duties and fund support in the forthcoming Budget to boost the outbound shipments from the sector.
July 16, 2024, 09:05 AM
