Finance Minister Nirmala Sitharaman in her speech presenting Budget 2024, abolished Angel tax to boost startup on July 23.
The Union Finance Minister Nirmala Sitharaman tabled the Economic Survey 2023-24 on July 22. The survey conservatively projects real GDP growth of 6.5–7%, with risks evenly balanced, cognisant of the fact that the market expectations are on the higher side.
Retail inflation, after averaging 6.7% in FY23, declined to 5.4% in FY24, thanks to effective administrative and monetary policy responses. Food inflation rose from 6.6% in FY23 to 7.5% in FY24
Reliance Industries, India's largest conglomerate by market value, announced its financial results for the first quarter of the fiscal year 2024-25. The earnings revealed a mixed performance across its various segments.
A significant disruption in Microsoft's cloud services led to widespread flight cancellations and delays globally, including in India. The outage impacted multiple airlines, grounding planes and disrupting operations at Delhi and Mumbai airports.