The Finance Minister presented *Budget 2024* July 23 , leading to a negative market reaction due to several key highlights.
*Negative News*
-The import tax on gold and silver has been reduced to 6%.
Long-term capital gains tax has increased to 12.5% (up from 10%).
-Short-term capital gains tax has increased to 20% (up from 15%).
-The Securities Transaction Tax (STT) on futures and options has been raised to 0.10% (a fivefold increase from 0.02%).
*Positive News*
-The debt-to-GDP ratio is projected to decrease gradually in the future.
-Under the new tax regime, the standard deduction has been increased to ₹75,000.
-The long-term capital gains exemption limit has been raised to ₹1.25 lakhs (up from ₹1 lakh).
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