The salaried class, who have been consistently lauded for their contribution towards the nation's tax pool, were keenly awaiting the announcements to be made by Finance Minister Nirmala Sitharaman as part of the Interim Budget she presented on February 1. Here's a look at the big takeaways from Sitharaman's budget presentation for the salaried class: No changes in income-tax rates and slabs

Diagnostics player Dr Lal PathLabs on February 1 reported a 54 percent year-on-year rise in consolidated net profit at Rs 81.3 crore for the third quarter of this financial year. The company had reported a profit of Rs 52.8 crore in the same period last year. Revenue for the October-December quarter came in at Rs 538.9 crore, up 10.1 percent from the year-ago quarter numbers of Rs 489.4 crore..

Several manufacturing companies will face uncertainty following the interim Union Budget 2024 as the government has not specified any provision to extend the special tax rate of 15 percent applicable to new manufacturing units that begin production before March 31, 2024. This could potentially increase the tax outgo of some manufacturing by 7 percent, say tax experts.

Finance Minister Nirmala Sitharaman has not made any announcement regarding a cut in cess on crude oil in the interim Budget 2024 presented on February 1. Nirmala Sitharaman tabled the Budget 2024 as a vote-on-account ahead of the general elections scheduled for April-May 2024. A full Budget for FY25 will be presented after the new government comes to power.

The interim Budget 2024 has set the ball rolling for formally introducing the hike in the tax collected at source (TCS) rate on foreign remittances, announced in 2023 into the Income Tax Act by way of an amendment. This will happen once the bill is passed by the Parliament. It was in the last Budget that the government had announced a hike in the TCS rate on foreign remittances.

Finance Minister Nirmala Sitharaman's budget speech announced key infrastructure investments in expansion of airports and railway corridors, expected to drive real estate activity in Tier II and III cities. The government allotted Rs 11.11 trillion for capital expenditure and set aside funds for PMAY and tourism development, which could lead to better livability and attract residents.

On February 1, Finance Minister Nirmala Sitharaman wrapped up her presentation in 160 minutes - making it the shortest one out of her six budget speeches - as this was an interim budget with the Lok Sabha polls just a couple of months away. Sitharaman highlighted India's booming economy and announced that the country's capital expenditure outlay for FY25 has been increased by 11.1 percent.

Two-wheeler automobile stocks remained a mixed bag, with the majority trading lower after the government reduced the budget allocation for the Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicle (FAME) scheme by nearly 44 percent to Rs 2,671 crore for FY25, potentially hampering EV adoption in the country. Shares of Bajaj Auto pared pre-budget gains of over 2 percent.

Union Financae Minister  Nirmala Sitharaman made several noteworthy announcements regarding the digital economy, digital public infrastructure and Artificial Intelligence development in her budget speech last year. However, in today's interim budget, primarily serving as a Vote on Account, there was NO disclosure on the progress of public investment in these digital economy projects.

Aquaculture sector assumes utmost importance in the country as India has a very long coastline of over 5,00 km, and seafood production is carried out in over 200 districts across multiple coastal provinces of India. Inland and aquaculture production and seafood exports have doubled since a separate fisheries department was set up a few years earlier. India is the 3rd largest fish producing.

The interim budget for 2024 focuses on boosting consumption through infrastructure spending and job creation, rather than direct measures like tax rebates. The increase in capital expenditure is expected to indirectly benefit consumers. The government has highlighted its efforts to create job opportunities and promote rural demand through various schemes.

In a significant boost for sovereign wealth funds and pension funds like Temasek, Canadian Pension Plan Investment Board (CPPIB), Ontario Teachers Pension Plan and others, the government has extended tax benefits on infra investments by these entities by an additional year to March 31, 2025. These benefits were set to expire on March 31, 2024. The announcement was made by FM.

Adani Enterprises, part of Adani Group, reported a consolidated net profit of Rs 1,888 crore in Q3 of FY23, a significant increase of 130% from the same quarter last year. Revenue from operations also increased by 6%. Their emerging core infra businesses showed strong performance and contributed 45% to their overall EBIDTA.

Finance Minister Nirmala Sitharaman's budget announcement did not include any major measures, causing the stock market to slip. However, a few stocks such as Indian Hotels, Canara Bank, and Exide Industries saw gains after the budget. These stocks have strong technical indicators and support levels, making them good investment options. It is always advisable to consult certified experts before...

Finance Minister Nirmala Sitharaman mentioned young chess prodigy R Praggnanandhaa in her Budget 2024 speech to showcase the success of Indian youth in sports. She highlighted India's record-breaking medal tally at the Asian Games and Para Games in 2023 and the growth of chess in the country, with over 80 grandmasters compared to just 20 in 2010.