Budget Announcements for Urban development:
- Stamp Duty - Motivating states to lower stamp duties for properties purchased by women
- Local/Street Markets - Visualizing a scheme to develop 100 weekly ‘haats’ or street food hubs in select cities
- Transit Oriented Development - Transit Oriented Development plans for 14 large cities with a population above 30 lakh
- Water Management - Water supply improvement plans, sewage treatment and solid waste management projects and services for 100 large cities through lucarative projects
Financial and Economic Proposals:
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20% TDS on repurchase by MF or UTI withdrawn.
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Hike in STT on F&Os - Increase in the Securities Transaction Tax (STT) on Futures and Options. The STT on futures will rise from 0.0125% to 0.02%, while the STT on options will increase from 0.0625% to 0.10%.
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Long-term capital gains on all financial and non-financial assets will attract a tax rate of 12.5%. Additionally, the limit of exemption for capital gains will be set at Rs 1.25 lakh per year.
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Proposal to increase the duty on printed circuit board assemblies (PCBA) for specific telecom equipment by 10 to 15%.
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Reduce the Basic Customs Duty (BCD) on mobile phones, mobile PCDA (Printed Circuit Design Assembly), and mobile charges to 15%.
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To enhance the benefits of GST Rationalize the tax structure.
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NPS for minors - NPS Vatsalya programme is made available for parents to invest in on behalf of their children.
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12 industrial parks will be sanctioned.
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Rs 26,000-cr to boost up road connectivity projects.
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Increasing the participation of women in the workforce will be a priority.
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Financial support for loans up to Rs 10 lakh for higher education.
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Job creation in the manufacturing sector – Incentive scheme linked to the employment of first-time employees.
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