19 AUGUST2024that it will "create potential career opportunities. On a global platform, this positions India as a go-to business hub for innovations."Radhika Gupta, MD & CEO, Edelweiss Mutual FundsWith the announcement of Union Budget 2024, Radhika Gupta, the Managing Director & Chief Executive Officer of Edelweiss Asset Management Limited has given her opinion stating about the simplification of mutual fund taxation in the new regime as the old regime included long-term and short-term taxes. Also stating about the elimination of concept of indexation, she has categorised the taxation in three consecutive groups. According to her, the first category goes for "equity and mutual funds that have more than 65% equity. They're taxed as capital assets, 20% in the short term, 12.5% in the long term, where the long term is anything for over a year.""While the second category is debt mutual funds, which are funds that hold more than 65% in debt securities. They are taxed at the marginal rate of income, regardless of whether they are held for short term and long term. There's no concept of short term and long term there," she mentions.Adding to the last category, Radhika stated, "The third category is very interesting. It's stuff that either doesn't fit into the equity category or the debt category. This could be a gold index fund or a gold ETF. This could be a fund of fund that is investing in equity funds. This could be an international fund or this could be some category of conservative hybrid or hybrid funds that don't have more than 65% equity."Followed by the categories, these shall have taxation which is long term and short term in nature, as per her statement. Short term has a marginal rate of taxation while long term has 12.5%, referring to more than two years. In conclusion, the debt mutual funds cannot be changed "from last year at marginal rates".Radhika suggests, if one is a long-term investor then gold funds, international funds, funder funds gets a `material benefit'. On the other hand, short term remains the same however "if you're a long-term investor who's investing for more than two years instead of attracting the marginal rate of taxation with which they attracted after last year's budget they now attract 12.5% capital gains tax over a two year long term."Ghazal Alagh, Co-Founder, Honasa ConsumerAmongst all the women leaders, Ghazal Alagh, the Chief Mama & Co-founder of Honasa Consumer Ltd. (Mamaearth), also took to her Linkedin handle and wrote that the Indian entrepreneurs have entered into a new era with the government's new budget. She states the new regime as a `game-changer for entrepreneurs', mentioning specifically for those serving in beauty and personal care industry.Ghazal has mentioned some aspects in favour of founders i.e., No more angel tax and Spotlight on digital transformation and AI. Explaining the first aspect she says, "This major change will make it easier for startups to attract investments. More money means more opportunities to grow your business." While second aspect is for beauty and personal care startups, "this is huge. You can now use cutting-edge tech to create better products and give your consumers amazing experiences," she continued.Explaining her statement, she wrote, "But what does this mean for you? 1. More investment opportunities, 2. Support for tech advancements, 3. Better digital infrastructure, 4. New growth possibilities."She even expressed her excitement for the changes and indicates the creation of inclusive business environment. Falguni Nayyar, CEO, NykaaFalguni Nayyar, the CEO of Nykaa has highlighted the 5 schemes of the Budget that boosts employment as well as skill development over the next 5 years for 41 million youth, having Rs 2 lakh crore as the central outlay. According to her statement, all these schemes looks forward to increase the purchasing power of households while attracting new consumers, assisting women-specific skilling and self-help groups' market access.Mentioning on the women's favour, Falguni also spoke about the female labor force participation rate of the country and said that an increase has been witnessed to 37%, indicating women-specific interventions to get solidified. She also mentions about the new regime's focus on salaried employees who shall save upto Rs 17,500 with expanded consumption sentiment.
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