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The Union Budget 2024 was announced on 23rd July by Finance Minister Nirmala Sitharaman. While the budget touched upon varied sectors of priorities for the government, it has raised several questions for the middle class. Are the taxes simplified enough? Will the standard deductions given matter much? What should be the right approach to investing? In the episode of Money Matters, Certified Financial Planner and SEBI Registered Investment Advisor Kalpesh Ashar in conversation with Mid-day’s Katyayani Kapoor explains various aspects of personal finance related to this year’s budget. From the widening of the tax slabs, raising STT on F&O, and raising taxes on Capital Gains to the new pension scheme for minors, in this video Kalpesh Ashar busts the myth and explains how these reforms can impact you. 

On Tuesday, the Defence Acquisition Council (DAC), led by Defence Minister Rajnath Singh, approved 10 major acquisition proposals totaling Rs 1,44,716 crore. Most of this budget, 99%, will support indigenous products under the Buy (Indian) and Buy (Indian-Indigenously Designed Developed and Manufactured) categories. The approval includes the procurement of Future Ready Combat Vehicles (FRCVs), which are advanced tanks with superior capabilities for mobility, protection, and real-time awareness. The DAC also approved Air Defence Fire Control Radars for tracking aerial targets and Forward Repair Teams (Tracked) for in-field repairs by Armoured Vehicles Nigam Limited. Additionally, three proposals were greenlit to boost the Indian Coast Guard`s (ICG) abilities, including Dornier-228 aircraft and advanced patrol vessels. The meeting ended with a tribute to the late ICG DG Rakesh Pal, who passed away on August 18, 2024. The Defence Minister and DAC members honored his significant contributions with a moment of silence.