Brief by Shorts91 Newsdesk / 08:59am on 23 Jul 2024,Tuesday Business
The Indian rupee fell to a new low of 83.69 against the US dollar, down from 83.6275 before the Budget announcement. The decline came after the government proposed increasing capital gains tax, leading to a stock market drop. The exemption limit for certain financial assets will be raised to ₹1.25 lakh per year for middle and upper-middle-class individuals. The rupee's slide continues amidst global economic uncertainty. The previous low of 83.6775 was breached, marking a new record. The government's Budget moves aim to balance revenue and growth, but their impact on markets is being closely watched.
