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There was a discussion about tax benefits in the pre-budget meeting. Will Finance Minister Nirmala Sitharaman present the budget in July?

Sagar Patel

By Sagar Patel

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Finance Minister Nirmala Sitharaman was present at the pre-budget meeting.

The first full budget of Prime Minister Modi’s third term will be presented in July 2024. Finance Minister Nirmala Sitharaman has started working for it. She is holding meetings with different industry experts regarding this. In that context, today she held a meeting with the country’s economists, in which many topics were discussed.

Financial and capital markets experts have advocated for tax incentives in the upcoming full budget 2024-25 to expand the market. In the pre-budget meeting with Finance Minister Nirmala Sitharaman, top companies in the sector also asked the government to remove discrepancies in tax laws and rates. The Ministry of Finance wrote on social network X that this was the second meeting before the presentation of the budget. Experts from the financial sector and capital markets participated in it on the next General Budget 2024-25. The full budget for the 2024-25 financial year is expected to be tabled in Parliament next month.

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After a two-hour meeting with the Finance Minister, Arun Kohli, Managing Director and Country Head of Morgan Stanley India Company, said fiscal policies must be stable and long-term. Experts have also given their suggestions on capital gains tax and tax applicable on securities transactions.

Discussion on NBFC Loan

According to George Alexander Muthoot, CEO of Muthoot Group, some companies advocated expanding the market and granting some tax incentives. FIDC Director Raman Aggarwal said that we have suggested that since there has been a rise in lending by NBFCs and the RBI has expressed concern over over-reliance on banks, allocation of funds from SIDBI and NABARD for refinancing NBFCs may increase.

Aggarwal said NBFCs (non-banking financial companies) have demanded clarity regarding GST on group loans and service charges. He said asset management companies have also discussed issues related to GIFT City and ways to retain capital within the country.

Sagar Patel

Sagar Patel

I am Sagar Patel, specializing in business news reporting. With a keen focus on economic trends, market analysis, and corporate developments,

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