The jewellery industry is eagerly looking forward to potential duty cuts on gold, silver, diamonds, and platinum as part of the upcoming 2024-25 Budget, set to be presented by Finance Minister Nirmala Sitharaman on July 23.
With the Union Budget around the corner, India’s electric vehicle (EV) industry is eying major boost to the sector. Increase in subsidy, reduction of GST on EV components, policy to support research and development and introduction of production-linked incentives are some of the expectations of the industry.
The ministry is considering a significant move: lowering income tax rates for individuals earning between Rs.15 lakh and Rs.17 lakh per year. This potential change aims to lighten the financial burden on middle-income earners, leaving them with more cash in hand.