BUSINESS HIGHLIGHTS

New Delhi, Jul 23 (PTI) Following are the top business stories at 2050 hours: DEL139 LD-BUDGET **** Modi 3.0 1st Budget: Tax relief for middle class, Rs 2 lakh cr job scheme New Delhi: Finance Minister Nirmala Sitharaman on Tuesday announced income tax relief for the middle class, a Rs 2 lakh crore outlay for job creation schemes over the next five years and a spending splurge for states run by her party's new coalition partners as she unveiled Modi 3.0 government's first budget after the general elections. **** DEL200 BIZ-LD-STOCKS **** Stock markets edge down on STT, LTCG hike; FMCG, consumer durables cap losses Mumbai: Benchmark Sensex and Nifty settled marginally lower in volatile trade on Tuesday as the government proposed to hike securities transaction tax on futures & options in the budget for 2024-25. **** DEL266 BIZ-LD RUPEE **** Rupee falls 3 paise to close at 83.69 against US dollar post-budget Mumbai: The rupee declined 3 paise to 83.69 against the US dollar on Tuesday after the government raised tax rates on capital gains in the FY25 Budget. **** DEL41 BUD-LD EMPLOYMENT-SCHEMES **** Govt to launch three employment-linked schemes: FM New Delhi: The government will launch three employment-linked schemes, Finance Minister Nirmala Sitharaman said while presenting the Union Budget for 2024-25 on Tuesday. **** DEL91 BUD-2NDLD CAPEX **** Govt to provide Rs 11.11 lakh cr towards capex, viability gap funding to spur pvt investment: FM New Delhi: The government will provide Rs 11.11 lakh crore towards capital expenditure for 2024-25 and will introduce viability gap funding to spur private investment in infrastructure, Finance Minister Nirmala Sitharaman said on Tuesday. **** DEL51 BUD-GST RATIONALISATION **** Govt will strive to further simplify, rationalise GST tax structure: FM New Delhi: Finance Minister Nirmala Sitharaman on Tuesday said the government will strive to further simplify, and rationalise GST (Goods and Services Tax), a move which would help promote ease of doing business. **** DEL116 BUD-LD FDI ****Govt to simplify rules, regulations for FDI New Delhi: The government on Tuesday said rules and regulations for foreign direct investment (FDI) will be simplified to facilitate inflows. **** DEL93 BUD-2NDLD GOLD CUSTOMS DUTY **** Govt cuts customs duty on gold, silver, mobile phones New Delhi: The government on Tuesday slashed customs duties on a range of products, including gold, silver, critical minerals, mobile phones and other electronic items, to cut input costs, increase value addition, promote export competitiveness and boost domestic manufacturing. **** DEL71 BUD-LD ANGEL TAX **** Govt announces to remove angel tax on startups for all classes of investors New Delhi: Giving a big relief to startups, the government on Tuesday announced removal of angel tax for all classes of investors to further promote the growth of budding entrepreneurs of the country. **** DEL117 BUD-CAPITAL GAINS **** Budget rationalises capital gains tax rates, holding period New Delhi: The government on Tuesday proposed to rationalise the capital gains tax rate and holding period of various assets, including securities and immovable properties, in the 2024-25 Budget. **** DEL180 BUD-LD CHEAPER-EXPENSIVE-ITEMS **** Gold, silver, imported mobiles, cancer drugs to become cheaper; imported garden umbrella, solar glass dearer New Delhi: Gold, silver and other precious metals along with imported mobile phones, certain cancer drugs and medical devices are set to become cheaper with Finance Minister Nirmala Sitharaman announcing cuts in customs duty in the Union Budget 2024-25. **** DEL148 BUD-EPFO SCHEMES **** Govt brings 3 scheme via EPFO, to boost fresh employment New Delhi: The government on Tuesday announced 3 schemes to boost employment through retirement fund body EPFO for new entrants in the organised sector with a total central outlay of Rs 1.07 lakh crore. **** DEL202 BIZ-BUD-LD DERIVATIVES **** FM clamps down on F&O trading; raises STT from Oct 1 to discourage retail investors New Delhi: Finance Minister Nirmala Sitharaman on Tuesday said securities transaction tax (STT) will be increased on futures and options (F&O) trade from October 1 to discourage retail investors from investing in the risky instrument. **** DEL224 BUD-HOUSING-INDEXATION **** Govt proposes to remove indexation benefit on sale of old property, experts say negative for sellers New Delhi: The government on Tuesday proposed reducing the long-term capital gains tax on immovable properties to 12.5 per cent from 20 per cent, but removed the indexation benefits to adjust for inflation, a move experts termed as "negative" for sellers. **** DEL233 BIZ-GOLD-PRICE **** Gold prices crash by Rs 3,350 after govt cuts custom duty on bullion New Delhi: Gold prices tumbled by Rs 3,350 to Rs 72,300 per 10 grams in the local market here on Tuesday amid subdued demand by jewellers after the government announced the customs duty cut on the yellow metal and silver to 6 per cent. **** PTI SGC SHW