Market Update: Nifty Dips, RBI Dividend Eases Fiscal Deficit, and Budget Highlights for FY25
Market Summary
The benchmark Nifty index fell by 0.12% to close at 24479.1 on 23-Jul. The Nift Midcap150 index fell by 0.44% to close at 20947.8. The Nifty Smallcap250 index by 0.61% to close at 17212.2. The 10yr yield remained unchanged at 7.0%. The rupee lost 0.06% to close at 83.71 against the US Dollar.
Key News
* RBI dividend helps Centre trim fiscal deficit to 4.9%, reports FE
* Finance Minister Nirmala Sitharaman on Tuesday proposed a reduction in the l customs duty on gold and silver to 6% and platinum to 6.4%, reports BL
* Budget FY25 increased revenue expenditure by Rs 54,744 crore to Rs 37.09 tr from the Interim Budget, using the excess dividend from RBI, reports BS
* Union Budget 2024: FM Sitharaman announces Rs 2.66 lakh crore for rural development, reports FE
* PLI for toys, leather and footwear gets nod, Rs 6,000 outlay seen for scheme t FY32, reports FE
* A revision in the new tax regime was announced at the budget for FY 2024-25 realigning tax slabs to provide additional benefits to taxpayers opting for this structure. Such changes are expected to save around Rs 17,500 in taxes, repor
* Budget 2024: Unemployment rate among females is higher than males, report
* The Union Budget tabled Tuesday in the Parliament proposed to simplify the n surrounding FDI and overseas investments in a bid to boost capital inflows fro foreign shores, reports BS
