From lowering duties on cell phone elements to measures taken to spice up the house sector within the nation, the Union Budget 2024-25 has set excessive objectives for the continued fiscal yr. The authorities can also be seeking to increase increased schooling and employment.
Here are among the key technology-related bulletins made by Finance Minister Nirmala Sitharaman whereas presenting the Union Budget 2024-25 on Tuesday.
- Mobile telephones: One of an important bulletins associated to the expertise sector that can have an effect on clients is the diminished customs obligation on cell phones and associated elements. The Union Budget 2024-25 has minimize the primary customs obligation (BCD) on cell phones to fifteen %. Meanwhile, the BCD on printed circuit board assemblies (PCBA) and cellular chargers have additionally been diminished to fifteen %.
- Telecom tools: The obligation on PCBA for telecom tools within the nation has been elevated from 10 % to fifteen %, as a part of the Union Budget that was offered by the finance minister on Tuesday.
- Solar expertise: Finance Minister Nirmala Sitharaman has introduced {that a} lately launched programme referred to as PM Surya Ghar Muft Bijli Yojana, will allow 1 crore homes to entry rooftop photo voltaic expertise that may ship as much as 300 items of electrical energy per 30 days.
- Space growth: The authorities will arrange a enterprise capital fund of Rs. 1,000 crore, that shall be aimed toward rising the nascent house expertise sector in India, and the federal government goals to extend the house financial system five-fold throughout the subsequent decade. Indian companies are anticipated to learn from the fund, together with a number of startups associated to house expertise within the nation.
- Education loans: For college students in home establishments, authorities will provide assist for loans for as much as 10 lakh for increased schooling, in accordance with the finance minister. The Model Skill Loan Scheme shall be revised, and college students will be capable of avail of e-vouchers for loans as much as 10 lakh yearly — this scheme is aimed toward 1 lakh college students within the nation.
- EPFO and employment: The Union Budget for 2024-25 additionally features a direct profit switch value Rs. 15,000 for brand new staff enrolled with the Employees’ Provident Fund Organisation (EPFO). Meanwhile, the federal government will reimburse corporations who rent new staff with as much as Rs. 3,000 per worker per 30 days, for the primary two years that they’re employed on the agency. An “internship allowance” of Rs. 5,000 and one-time help of Rs. 6,000 shall be offered to encourage high companies to recruit interns.
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