<h1>Budget 2024-25 Boosts Business Reforms, Digitalization; Enhances Insolvency Code with New Tribunals, Faster Debt Recovery.</h1> The Union Budget 2024-25, presented by the Finance Minister, focuses on incentivizing states for implementing Business Reforms Action Plans and digitalization to enhance ease of doing business. An Integrated Technology Platform will be established to improve outcomes under the Insolvency and Bankruptcy Code (IBC), which has resolved over 1,000 companies, recovering more than Rs. 3.3 lakh crore for creditors. The budget proposes reforms to strengthen the IBC ecosystem, including additional tribunals for faster insolvency resolutions. The Centre for Processing Accelerated Corporate Exit will extend services for the voluntary closure of LLPs, and debt recovery tribunals will be strengthened to expedite recovery processes.