On 1 February 2024, India's Minister of Finance Nirmala Sitharaman delivered the Union Budget for 2024-2025. The tax measures of the budget are quite limited and include the extension of certain tax benefits for start-ups and investments made by sovereign wealth or pension funds, as well as the tax exemption on certain income of some IFSC units from 31 March 2024 to 31 March 2025. Otherwise, no changes relating to taxation are proposed and current direct and indirect tax rates will be retaine…