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Narendra Modi has been in office since 2014, this is the 11th successive budget of his tenure. There will be signs of continuity, as well as critics who will say that one measure or the other should have come much earlier rather than now. While all this is well-taken, the fact is, every budget — even if part of a continuum — also has its individual context. This context is both political and economic.

customs duty on gold will help reduce smuggling and aid the economy, businesses and employment, commerce and industry minister Piyush Goyal said in an interaction. He said easier norms for foreign direct investment (FDI) could entail expedited and automatic approvals. Edited excerpts:

Also read | Why Sebi and RBI want retail investors to stay away from derivatives For options traders, the securities transaction tax will increase by about 60%, said Roop Bhootra, chief executive officer of investment services at Anand Rathi Shares and Stock Brokers. “This move would definitely have a negative impact on professional traders who are trading more on intraday basis and generating exceptionally high-volume trades as it will increase their trading costs," he said. The securities transaction tax was introduced in 2004 to rein in speculative trading and rake in revenue from the financial markets.

₹11.11 trillion. The multiplier effect of this will support demand for commodities such as steel and cement and is also in sync with India’s plan to improve its logistics efficiency. Second, emphasizing the vision for energy transition provides support to India’s journey towards non-fossil fuels, which will allow the country to decarbonise while it pursues faster growth.

The U.S. Securities and Exchange Commission (SEC) has officially approved nine spot ether (ETH)exchange-traded funds (ETFs) for trading on U.S. exchanges. Trading for these new crypto investment vehicles will begin today. Here's everything you need to know.

oil marketing companies (OMCs) today ended in the red after the Union Budget 2024 did not make any budgetary allocation for them for FY25. The development assumes importance given that the government had in its FY24 budget earmarked Rs 30,000 crore for capital support to the OMCs which did not crystallise the financial year gone by. Shares of Bharat Petroleum Corporation (BPCL) today ended at Rs 306 on the NSE, down by Rs 2.25 or 0.73% over the previous closing price. Meanwhile, Hindustan Petroleum Corporation (HPCL) shares settled at Rs 345 falling by 0.5%. Indian Oil Corporation (IOC) was the top loser falling 1.4% to close the session at Rs 165.85.

Doing business across provincial lines is starting to get easier but progress is slow, says the Canadian Federation of Independent Business.

Bitcoin (BTC) has struggled to maintain its upward momentum. Recently, it lost traction around the $66,560 level, hitting an intra-day low of $66,416. However, an upward trendline suggests a Bitcoin price prediction.

As a result, stocks plunged by up to 10% on the intraday basis, but managed to narrow their losses at the closing time.

Nilesh Shah, MD, Kotak AMC, says Budget 2024 is like Suryakumar Yadav’s catch in the last cricket T-20 World Cup. It has achieved the trinity of the impossible – the path of fiscal prudence, support for investment in infrastructure, and generating employment to boost consumption. I hope and pray that eventually, this catch helps us become Viksit Bharat. The India story is centred around SIPs and mutual funds. There is cash and if the India appeal is centred around SIPs and not tips, one should not worry about it in time to move on. So, whatever changes have come on taxation, should that be ignored? Nilesh Shah: So, don’t ignore it. You have to take that into account. People who are trading in F&O now will have to bear higher costs and hopefully, they will reduce their trading activity. But from an investor point of view, the fundamentals have improved with fiscal consolidation, with investment focus continuing and hopefully with better employment generation, this growth is likely to be sustained. So, the valuation impact on the market will be far more from the Budget rather than the diluting effect of increased taxation. So, overall, the India growth story continues and instead of tips, do SIPs.

markets after Finance Minister Nirmala Sitharaman proposed to increase tax rates on long-term capital gains (LTCG) and short-term capital gains (STCG). The rupee ended at 83.687/$1, after slipping to a record intraday low of 83.71/$1 during the day, LSEG data showed. The previous all time low was ar 83.67/$1

Nirmala Sitharaman has reiterated the government's intention to promote the rupee as an international currency.

Finance Minister Nirmala Sitharaman made no announcements regarding crypto taxes in the Budget, which the crypto industry views as a missed opportunity to support crypto startups and investors. «We had hoped the government would reduce taxation to align it with other asset classes. Unfortunately, this has not been addressed, representing a missed opportunity to support startups and investors in the crypto space,» said Ashish Singhal, Co-founder of Lemonn and CoinSwitch.

Nifty ended the Budget day trading session 30 points lower on Tuesday to form a bullish hammer type candle pattern, signalling that bulls are trying to stage a comeback from lower levels. The short-term trend of Nifty remains negative with high volatility. Emergence of sharp buying and the formation of a positive candle pattern on Tuesday is signalling the occurrence of a bullish reversal pattern in the coming sessions. A sustainable move above 24,650-24,700 could open the next upside towards 24,850-24,900 levels in the near term. Immediate support is at 24,100 levels, said Nagaraj Shetti of HDFC Securities.

capital gains from equity investments and on equity derivative trades hurt market sentiment. The rupee ended slightly lower against the U.S. dollar at 83.6875, its weakest ever closing, after having slipped to a record low of 83.7150 earlier in the session.

₹78,000 crore with an emphasis on the monetization of assets). Therefore, if the budget promises a fiscal deficit of 4.9% as a proportion of GDP, it is believable. So is 4.5% of GDP for 2025-26, the government’s pre-announced goal.

₹75,000 from the current ₹50,000. Second, income tax rates for those in the new tax regime—used by more than two-thirds of those filing income tax returns—have been revised. This will lead to savings of up to ₹17,500 during the year.

cigarette business is ITC’s mainstay, accounting for close to 40% of total gross segmental revenues in FY24 and almost 80% of its total segment Ebit (earnings before interest and tax). With clarity on cigarette taxation, Jefferies’ analysts believe ITC is well-placed to accelerate cigarette revenue growth through a blend of volumes, price hikes, and better mix.

ICICI Prudential Life Insurance Company Ltd. traded 0.81 per cent down at Rs 627.95 on Tuesday at around 01:49PM (IST), while the benchmark BSE Sensex declined 514.62 points to 79987.46. As many as 42,230 shares changed hands on the counter with a total value of Rs 2.64 crore.

Cholamandalam Investment & Finance Company Ltd. dropped 1.11 per cent to Rs 1386.45 at 01:29PM (IST) in Tuesday's trade. The scrip hit a high of Rs 1426.0 and low of Rs 1365.0 so far during the session. The stock had closed at Rs 1402.15 in the previous session. The counter had a total traded volume of 01:29PM shares so far with a turnover of Rs 1.42 crore on BSE. The stock traded at a price-to-earnings multiple of 33.75 and a price-to-book ratio of 4.96.

Crompton Greaves Consumer Electricals Ltd. fell 2.37 per cent to Rs 423.8 in Tuesday's trade as of 01:55PM (IST) even as the benchmark Nifty ruled at 24381.55, down 127.71 points. The scrip had closed at Rs 434.1 in the previous session. The stock quoted a 52-week low of Rs 262.1 and a high of Rs 441.95. The company quoted a market-cap of Rs 27237.9 crore on the BSE.