Indian Finance Minister to Present Interim Budget 2024, Expectations for Tax Policy and Capital Gains Simplification
Indian Finance Minister Nirmala Sitharaman is preparing to present the interim budget for 2024 in Parliament, which seeks approval for a grant in advance to cover essential government expenses for the initial months of the new financial year. The full-fledged budget will be presented by the new government that comes to power after the elections in the second quarter of 2024. The BSE SENSEX, a stock market index of 30 financially strong companies listed on the Bombay Stock Exchange, has risen by 0.40% ahead of the interim budget presentation. Expectations for the budget include potential policy changes related to tax benefits, employee stock options, stock awards for startups, and simplification of the capital gains tax regime. Additionally, stakeholders in the crypto industry are hoping for a revision of the one percent withholding tax on crypto gains, which has led to traffic diversion to foreign platforms.
