Budget 2024: : What’s New for Businesses in India

1. Significant Tax Reforms

The government has introduced substantial tax reforms to ease the burden on businesses. Key changes include lower corporate tax rates for MSMEs and simplified GST compliance procedures.

2. Digital Push

Budget 2024 emphasizes digitalization with initiatives like Digital India 2.0, aiming to enhance digital infrastructure, promote cybersecurity, and boost digital payments, making it easier for businesses to operate online.

3. Support for Startups and Innovations

Startups receive a major boost with increased funding, tax incentives, and simplified regulations. The focus is on fostering innovation and creating a robust ecosystem for budding entrepreneurs.

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4. Infrastructure Development

The budget allocates significant funds for infrastructure development, including transportation, logistics, and smart cities, providing businesses with improved facilities and connectivity.

5. Green Initiatives

Budget 2024 introduces green initiatives, encouraging businesses to adopt sustainable practices through incentives for renewable energy use, waste management, and environmental conservation.