BLOGS

Key Highlights of India's Budget 2024 Economic Overview - GDP Growth: India aims for a GDP growth rate of around 7% for the fiscal year 2024-2025. - Fiscal Deficit: Target set at 5.9% of GDP, continuing the path towards fiscal consolidation. - Inflation: Efforts to keep inflation within the targeted range of 4% with a 2% margin. Taxation - Personal Income Tax: No changes in tax slabs. Standard deduction increased by ₹50,000. - Corporate Tax: Tax rate remains unchanged. Extension of concessional tax rate of 15% for new manufacturing companies till March 2025. - Goods and Services Tax (GST): Simplification of GST filing process and measures to curb tax evasion. Agriculture and Rural Development - PM-KISAN Scheme: Allocation increased to provide ₹6,000 annually to farmers in three installments. - Agri Infrastructure: ₹1.5 lakh crore allocated for the development of agricultural infrastructure, including cold storage and warehousing. - Rural Employment: Enhanced budget for MNREGA to en...

 These days, food costs are soaring in nations all over the globe. The export of food grains and fertilizers has been impacted by climate change, heat, drought, and flooding, as well as the continuing conflict in Ukraine during the last several weeks, all of which have a negative impact on the ordinary people's finances. According to experts, if food prices continue to climb at this rate, a number of issues may occur. Food costs reached a 14-year high. According to the International Panel of Experts on Sustainable Food Systems (IPES), the price of cereals in March reached its highest level in fourteen years, while the price of maize reached its all-time high. According to the research, climate change, widespread poverty, and armed conflict today pose a severe danger to global food security. If appropriate measures are not implemented, exorbitant prices may become the norm. Why have food costs increased so drastically? War has halted grain shipments from Russia and Ukraine, which ac...