The 30-share BSE Sensex soared 388.15 points, or 0.47%, to hit an all-time intra-day high of 82,129.49 in early trade. The broader Nifty of NSE scaled the record 25,000 level for the first time, rising 127.15 points, or 0.50%, to 25,078.30.
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The Ministry of Finance has said in the Budget that Indians going abroad must get a tax clearance certificate from the Income Tax department. The proposal caused an outrage on social media, following which the ministry has clarified that the rule only applies to those accused of financial irregularities.
The single-day wipeout, following the announcement in the Union Budget, is being touted as the sixth-largest wealth depreciation ever observed across the world.
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Three employment-linked schemes were announced in the union budget as part of the Prime Minister’s package. These schemes will be based on enrollment in Employees' Provident Fund Organization (EPFO), focus on recognition of first-time employees, and support to employees and employers.
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Taking to X, the PM wrote, “The Economic Survey highlights the prevailing strengths of our economy and also showcases the outcomes of the various reforms our Government has brought."
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The projection in the Economic Survey is a tad lower than the Reserve Bank's growth estimates of 7.2%. However, major global agencies, including the International Monetary Fund (IMF) and Asian Development Bank, have projected the growth at 7%.
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