Pre-Budget 2024 Highlights Updates: What’s In Bag For Crypto, Finance, & Other Sectors

By Coingape Staff
Published 30 Jan, 2024 | 10:39:03 AM IST Updated 27 Sep, 2024 | 05:01:24 PM IST
India's Union Budget 2024-25
By Coingape Staff
Published January 30, 2024 Updated September 27, 2024

Pre-Budget 2024 LIVE Updates: With only two days left until this year’s much-awaited Union Budget Speech, India’s Ministry Of Finance appears to be birthing a tidal wave of speculations across the country’s economic landscape. The Finance Minister of India, Nirmala Sitharaman, is all set to deliver the Budget Speech on February 1, 2024. Meanwhile, with the preparations already commencing with the ‘Halwa’ ceremony, the country eagerly awaits the Budget.

Meanwhile, the Finance Minister already stated that as a result of vote-of-account, no major announcements are to be given out on February 1. However, key industries within the nation, such as Real Estate, Finance, Agriculture, Crypto, and many others, expect to see significant changes. Moreover, with Sitharaman’s noteworthy track history of Budget Speech deliveries, India extensively eyes this year’s Union Budget.

Live
07:03:00 PM IST, 30 January 2024

Pre-Budget 2024 LIVE: Focus Shifts Towards Cybersecurity Amid AI Threats

As Union Finance Minister Nirmala Sitharaman gears up to unveil the interim budget for 2024-25 on February 1, 2024, cybersecurity takes center stage. Parag Khurana, Country Manager of Barracuda Networks, warns of a looming shift where attackers leverage AI for more sophisticated cyber threats.

Notably, with organizations heavily investing in digital transformation, the potential attack surface grows. Considering that, Khurana emphasizes the need for cyber-resilience, urging budget allocation toward cybersecurity and AI-based security innovation. India Budget 2024 holds the promise of safeguarding digital assets, with a focus on skills development to counter evolving cyber threats in the nation’s dynamic landscape.

Share this update:
advertisement
06:41:05 PM IST, 30 January 2024

Pre-Budget 2024 LIVE: Anticipation Builds Ahead Of Election Year's Union Budget

As India steps into a crucial election year, all eyes are on the upcoming Union Budget 2024, set to be unveiled on February 1. Forbes India, sharing insights on the X platform, notes the buzz surrounding the interim budget. While experts temper expectations for major policy shifts, there is anticipation for populist measures that may shape the economic landscape.

Meanwhile, the budget’s unveiling comes at a pivotal moment, with political and economic factors intertwining in this election season. India Budget 2024 is poised to be a key player in shaping the nation’s fiscal trajectory and influencing voter sentiment.

Share this update:
06:20:13 PM IST, 30 January 2024

Pre-Budget 2024 LIVE: Will The Upcoming Budget Boost India's EV Market?

According to the latest report, Union Finance Minister Nirmala Sitharaman is expected to unveil a support package of ₹12,500 crore for electric mobility players in India’s upcoming Union Budget 2024. This expected initiative, under the Faster Adoption and Manufacturing of Electric Vehicles (FAME) III scheme, aims to incentivize electric two-wheelers, three-wheelers, buses, cars, charging infrastructure, and potentially trucks and tractors.

While the subsidies per vehicle may see adjustments, the anticipated focus on promoting green mobility underscores the government’s commitment to fostering a cleaner, more sustainable future for the country.

Share this update:
05:56:33 PM IST, 30 January 2024

Pre-Budget 2024 LIVE: Crypto Market Awaits Clarity With India Budget 2024 In Focus

TaxNodes CTO Karthikeyan NG has shared insights on the X platform ahead of India Budget 2024, anticipating positive provisions for the crypto ecosystem. Key expectations include relaxed taxation, potentially lowering the flat 30% rate with loss offset allowance, reduced TDS from 1%, and the formalization of regulatory requirements. These changes aim to foster a thriving environment for cryptocurrency in India. As the crypto community eagerly awaits the Union Budget 2024, there’s anticipation that the outlined provisions could pave the way for a more supportive regulatory landscape.

Share this update:
advertisement
05:38:21 PM IST, 30 January 2024

Pre-Budget 2024 LIVE: Interim Budget Zeroes In On Make In India, Digitisation, & Many Others

The Senior Vice Chairman of the Indian Chamber of Commerce, Rajib Sahoo, claims that the upcoming budget will be an interim budget until the new government takes charge. Meanwhile, the focus of this interim budget remains on the continuation of previous reforms, digitization, Make in India, agriculture, and integrated development, as per Sahoo’s statement.

Share this update:
05:21:08 PM IST, 30 January 2024

Pre-Budget 2024 LIVE: FSII Chairman On Upcoming Budget

The FSII (Federation of Seed Industry of India) Chairman, Mr. Ajai Rana, recently stated that curating a policy ecosystem that gravitates FDI (Foreign Direct Investment) in the nation’s seed sector is also anticipated ahead of the upcoming budget.

Share this update:
04:57:17 PM IST, 30 January 2024

Pre-Budget 2024 LIVE: Salaried Class Not To Hopeful?

Many are speculating on a previous statement in which the Finance Minister stated that no spectacular announcements are to be made on the Budget Speech of February 1. Aligning with this, the unchanged state of 80C, 80D, home loans, tax slabs, and basic exemptions for the past couple of years leaves the salaried class at the front of a significant setback, as they are not too optimistic about the upcoming budget.

Share this update:
04:33:04 PM IST, 30 January 2024

Pre-Budget 2024 LIVE: Unocoin Co-Founder Spotlights Unfair Crypto Taxation In India

Dr. Sathvik Vishwanath, co-founder of Indian crypto exchange Unocoin, recently stated, “For every day passing with unfair crypto taxation in India, an individual is considering migrating out of the country to build in this industry.” He further spotlighted how this is resulting in the loss of employment opportunities within the country, drawing parallels with the loss of taxes and investment opportunities nationwide.

Share this update:
04:17:05 PM IST, 30 January 2024

Pre-Budget 2024 LIVE: Logistics Sector Anticipates Capex Boost

Eyeing the upcoming Union Budget 2024, the Indian logistics sector foresees more simplifications for land acquisitory processes of warehouses and logistics parks, rebates in stamp duty, registration costs, etc.

Share this update:
03:54:45 PM IST, 30 January 2024

Crypto News LIVE: Indian Insurers Stance On Long Bonds

Indian funds, insurers, and banks have extended their holdings in longer-duration bonds, foreseeing a fiscally conservative interim budget from the federal government coming ahead of the general elections 2024.

Share this update:
03:02:17 PM IST, 30 January 2024

Pre-Budget 2024 LIVE: CII Anticipates Ease Of Business In India

In a recent statement shared by the Confederation of Indian Industry (CII), the organization urged the states to start using the National Single Window System. Furthermore, it proposed decriminalizing business-facing laws and integrating environment, forest, biodiversity, and air & water compliances into 1.

Share this update:
02:34:24 PM IST, 30 January 2024

Pre-Budget 2024 LIVE: Indian Crypto Community Awaits Regulatory Advancements

The Indian crypto community hopes to see a significant reduction in the tax slab orbiting virtual digital assets nationwide. The #reducecryptotax movement appears to have prevailed for ages within the country now. As the global race for crypto paces each day, India’s current stance may force the nation to lag globally. Aligning with this, the Indian crypto community awaits noteworthy announcements in the upcoming Budget.

Share this update:
02:15:55 PM IST, 30 January 2024

Pre-Budget 2024 LIVE: Income Tax Rate Change Anticipated

With India’s CPI (Consumer Price Index) fluctuating 4-8% annually in recent years, the majority of the nation’s income post-taxation remains relatively less. Increasing the limit under the new tax regime would offer significant aid to citizens nationwide and is much expected in the upcoming budget.

Share this update:
01:56:02 PM IST, 30 January 2024

Pre-Budget 2024 LIVE: CII Director General Eyes Rural Economy Development

The Director General of CII (Confederation Of Indian Industry), Mr. Chandrajit Banerjee, eyes rural economy development with the upcoming Budget, particularly education and housing infrastructure aid, among many others.

Share this update:
01:28:58 PM IST, 30 January 2024

Pre-Budget 2024 LIVE: Increased Dividend Targets From RBI?

The upcoming Interim Budget is expected to increase the government’s dividend earnings from RBI and other financial institutions, as per reports. Notably, these institutions significantly surpassed the previous year’s expected dividends, resulting in such a scenario.

Share this update:
01:07:19 PM IST, 30 January 2024

Pre-Budget 2024 LIVE: MSME Expected To Enhance Credit Affordability

The Budget Speech to be delivered by Nirmala Sitharaman on February 1 is primarily expected to zero in on MSMEs (Ministry of Micro, Small & Medium Enterprises) facilitation of better credit. The nation seeks a better ecosystem for the MSE sector, as it creates additional job opportunities.

Share this update:
12:35:01 PM IST, 30 January 2024

Pre-Budget 2024 LIVE: All Party Meet In Motion!

The All Party meeting is now in full swing at the Indian Parliament House ahead of the Interim Budget 2024.

Share this update:
12:15:52 PM IST, 30 January 2024

Pre-Budget 2024 LIVE: India's UPI Growth To Reduce Digital Transaction Fees?

The burgeoning rise of UPI payments within the country leads to speculation about whether the government will offer aid in reducing the digital transaction fees this year or not. At present, the transaction fees appear to be quite the hindrance that demands prompt attention.

Share this update:
11:50:03 AM IST, 30 January 2024

Pre-Budget 2024 LIVE: Public Sector Healthcare Impacted?

The IMA (Indian Medical Association) recently proposed a jack-up in investments for public sector hospitals. Dr. RV Asokan, President of the IMA, spotlighted the necessity for the same.

Share this update:
11:29:52 AM IST, 30 January 2024

Pre-Budget 2024 LIVE: Indian Railways To Reap The Most Benefits?

Much of the nation’s anticipation is on developing the country’s public transport system, mainly the railways. Various reports surfacing across India suggest that the railway sector is poised for record-level gains, with a scope-in on better infrastructure and faster trains.

Share this update:
11:02:02 AM IST, 30 January 2024

Pre-Budget 2024 LIVE: R&D Remains Of Prime Concern

Numerous industries across India, be it agriculture or pharmaceuticals, all appear to be eyeing a significant boost in the R&D (Research & Development) sector within their respective industries. Reports showcase a surge in demand for R&D allocations in recent times, promptly birthing expectations for the bolstering of this department.

Share this update:
10:37:02 AM IST, 30 January 2024

Pre-Budget 2024 LIVE: Self-Reliance Schemes Expected

According to India’s leading tax-tech portal, EZTax, Self-Reliance schemes in Defence, Clean Energy, and Technology adoption are much expected in the nation. This also provides numerous job opportunities and boosts employment.

Share this update:
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.