Budget 2024 Key Highlights LIVE Updates: Union Finance Minister Nirmala Sitharaman presented her sixth Budget on February 1. This was an interim budget ahead of the general elections later this year. The Interim Budget 2024 was focused on youth and women empowerment, while maintaining fiscal consolidation and continuing capex. FM Sitharaman lowered down FY25 fiscal deficit target to 5.1% of the GDP. There were no changes made to the direct tax and indirect tax rates. Read the latest news on Budget 2024 with our live coverage on the Income Tax Slab, Impact on Share Market, Budget Key Highlights, Corporate Reactions, and Funny Memes.
Budget 2024 Key Highlights LIVE: From Tax benefits to setting up ₹1 lakh cr fund, FM Sitharaman’s announcements for startups
The Union Finance Minister announced a corpus of ₹1 lakh crore for India’s “tech-savvy youth” in her sixth Budget speech on Thursday. According to the FM, the move will encourage the private sector to scale up research and innovation significantly in sunrise domains. Read here
Budget 2024 Key Highlights LIVE: Income tax, infra, railways, EVs and more – 15 key takeaways from FM Sitharaman’s speech
Budget 2024 Key Highlights LIVE: The budget focused on fiscal consolidation, infra, agri, green growth, and railways. However, no changes were made in the tax rates, which was a disappointment to salaried individuals. “The Indian economy has witnessed a positive transformation in the last 10 years. People are looking towards the future with hope. In 2014, the country was facing enormous challenges. With Sabka Saath, Sabka Vikaas, the Narendra Modi-led government overcame those challenges,” said Finance Minister Sitharaman in her budget speech. Read full report here
Budget 2024 Key Highlights LIVE: A list of govt schemes for poor highlighted by FM Sitharaman
Finance Minister Nirmala Sitharaman lists out important government schemes for the poor people. Take a look:
Budget 2024 Key Highlights LIVE: A look at Fiscal Indicators
Fiscal Indicators: Rolling Targets as a Percentage of GDP
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Budget 2024 Key Highlights LIVE: Budget guarantee of strengthening foundation of developed India: PM Modi
Budget 2024 Key Highlights LIVE: Prime Minister Narendra Modi asserted that the Union Budget 2024 presented by Finance Minister Nirmala Sitharaman offers the “guarantee” of strengthening the foundation of a developed India. Here are key highlights from PM Modi’s statement:
- Budget will empower the four pillars of developed India, namely the young, poor, women and farmers.
- This is a budget of creating India’s future and is a reflection of the aspirations of a young India
- Budget empowers the poor and middle class and will create countless employment opportunities for youth
- The “historic” budget has also offered rebates for start-ups.
- It has provisions for a huge capital expenditure of ₹11.11 lakh crore while keeping the fiscal deficit under control
Budget 2024 Key Highlights LIVE: Certain benefits to start-ups & tax exemptions to be extended
Budget 2024 Key Highlights LIVE: Certain benefits to start-ups & tax exemptions to certain IFSC units expiring in March will be extended to March 2025.
Budget 2024 Key Highlights LIVE: Takeaways for the Banking and Insurance sectors
Here are key takeaways pertaining to the Banking and Insurance sectors in the Interim Budget 2024 announced by Finance Minister Nirmala Sitharaman
Corpus for long-term financing for sunrise sectors
A corpus of ₹1 lakh crore will be created to provide 50-year loans at low or nil interest rates to encourage the private sector to scale up research and innovate in sunrise sectors.
Housing for the middle class
The government will launch a scheme for deserving sections of the middle class living in rented houses or slums to build or buy their own houses.
This would have a second order impact in terms of aiding the housing finance businesses of banks. The potential key beneficiaries among banks would be the ones with a relatively higher share of home loans in their loan book viz. ICICI Bank and SBI, said Shivaji Thapliyal, Head of Research and Lead Analyst, Yes Securities.
Increased coverage for Ayushman Bharat
Healthcare cover under Ayushman Bharat will be extended to ASHA workers, Anganwadi workers and Helpers.
Budget 2024 Key Highlights LIVE: Macroeconomic takeaways from Interim Budget
- FY25 Fiscal Deficit target at 5.1% of GDP
- FY24 Fiscal Deficit seen at 5.8% of GDP
- Govt aims to reduce fiscal deficit to below 4.5% by FY26
- FY25 Capex outlay at 3.4% of GDP
- FY25 Net market borrowing seen at ₹11.75 lakh crore
- FY24 Gross Market Borrowing seen at ₹14.1 lakh crore
- FY24 Total Expenditure Revised Estimates at ₹44.90 lakh crore
- FY25 divestment target at ₹50,000 crore
- FY24 divestment target cut to ₹30,000 crore
Budget 2024 Key Highlights LIVE: Allocation for Specific Ministries
Budget 2024 Key Highlights LIVE: Here’s a list of money allocated to specific ministries:
- Ministry of Defence: ₹6.2 lakh crore
- Ministry of Road Transport and Highways: ₹2.78 lakh crore
- Ministry of Railways: ₹2.55 lakh crore
- Ministry of Consumer Affairs, Food & Public Distribution: ₹2.13 lakh crore
- Ministry of Home Affairs: ₹2.03 lakh crore
- Ministry of Rural Development: ₹1.77 lakh crore
- Ministry of Chemicals and Fertilizers: ₹1.68 lakh crore
- Ministry of Communications: ₹1.37 lakh crore
- Ministry of Agriculture and Farmer’s Welfare: ₹1.27 lakh crore
Budget 2024 Key Highlights LIVE: Meeting commitment for ‘net-zero’ by 2070
Budget 2024 Key Highlights LIVE: Towards meeting the commitment for ‘net-zero’ by 2070, the following measures will be taken:
- Viability gap funding will be provided for harnessing offshore wind energy potential for initial capacity of one giga-watt.
- Coal gasification and liquefaction capacity of 100 MT will be set up by 2030. This will also help in reducing imports of natural gas, methanol, and ammonia.
- Phased mandatory blending of compressed biogas (CBG) in compressed natural gas (CNG) for transport and piped natural gas (PNG) for domestic purposes will be mandated.
- Financial assistance will be provided for procurement of biomass aggregation machinery to support collection
Budget 2024 Key Highlights LIVE: Focus on Infrastructure Development
Budget 2024 Key Highlights LIVE: Here are key announcements made in the Budget speech by FM Nirmala Sitharman on infrastructure development.
– Infrastructure outlay increased by 11.1% to ₹11.11 lakh crore
– 50-year interest-free loans to state governments extended for another year under Gati Shakti master plan
– Three major economic railway corridor programmes will be implemented. These are: (1) energy, mineral and cement corridors, (2) port connectivity corridors, and (3) high traffic density corridors.
– 40,000 normal rail bogies will be converted to the Vande Bharat standards to enhance safety, convenience and comfort of passengers.
– NAMO trains and metro rail services will be added in more cities
Budget 2024 Key Highlights LIVE: Dairy Development and Matsya Sampada Schemes
Budget 2024 Key Highlights LIVE: The government will formulate a comprehensive programme for supporting dairy farmers. Efforts are already on to control foot and mouth disease, said FM Sitharaman.
The programme will be built on the success of existing schemes such Rashtriya Gokul Mission, National Livestock Mission, and Infrastructure Development Funds for dairy processing and animal husbandry.
Matsya Sampada
- Implementation of Pradhan Mantri Matsya Sampada Yojana (PMMSY) will be stepped up to
(1) enhance aquaculture productivity from existing 3 to 5 tons per hectare
(2) double exports to ₹1 lakh crore and
(3) generate 55 lakh employment opportunities in the near future
- Five integrated aquaparks will be setup
Budget 2024 Key Highlights LIVE: Important announcements for Agriculture and food processing
Budget 2024 Key Highlights LIVE: The efforts for value addition in the agricultural sector and boosting farmers’ income will be stepped up, said FM Sitharaman. Here are the key proposals for the sector:
Pradhan Mantri Kisan Sampada Yojana has benefitted 38 lakh farmers and generated 10 lakh employment.
Pradhan Mantri Formalisation of Micro Food Processing Enterprises Yojana has assisted 2.4 lakh SHGs and sixty thousand individuals with credit linkages. Other schemes are complementing the efforts for reducing postharvest losses, and improving productivity and incomes.
For ensuring faster growth of the sector, Government will further promote private and public investment in post-harvest activities including aggregation, modern storage, efficient supply chains, primary and secondary processing and marketing and branding, said Sitharaman.
Budget 2024 Key Highlights LIVE: Announcements for key sections of society
Budget 2024 Key Highlights LIVE: Finance Minister Nirmala Sitharman in her Interim Budget 2024 proposed a slew of measures to sustain growth, facilitate inclusive and sustainable development, improve productivity, create opportunities for all. Here are some of these announcements:
PM Awas Yojana (Grameen): 2 crore more houses will be taken up in the next five years to meet the requirement arising from increase in the number of families.
Rooftop solarization and muft bijli: Through rooftop solarization, one crore households will be enabled to obtain up to 300 units free electricity every month.
Housing for middle class: Government will launch a scheme to help deserving sections of the middle class “living in rented houses, or slums, or chawls and unauthorized colonies” to buy or build their own houses.
Medical Colleges: Government plans to set up more medical colleges by utilizing the existing hospital infrastructure under various departments. A committee for this purpose will be set-up to examine the issues and make relevant recommendations.
Cervical Cancer Vaccination: Government will encourage vaccination for girls in the age group of 9 to 14 years for prevention of cervical cancer.
Maternal and child health care: Upgradation of anganwadi centres under “Saksham Anganwadi and Poshan 2.0″ will be expedited for 14 improved nutrition delivery, early childhood care and development
Ayushman Bharat: Healthcare cover under Ayushman Bharat scheme will be extended to all ASHA workers, Anganwadi Workers and Helpers.
Budget 2024 Key Highlights LIVE: To withdraw outstanding direct tax demands up to ₹25,000 for up to FY10
FM Sitharaman proposes to withdraw outstanding direct tax demands up to ₹25,000 pertaining to the period up to financial year 2009-10 and up to ₹10,000 for financial years 2010-11 to 2014-15. This is expected to benefit about a crore tax-payers
Budget 2024 Key Highlights LIVE: Budget Estimates for FY 2024-25
The total receipts other than borrowings and the total expenditure for FY25 are estimated at ₹30.80 and ₹47.66 lakh crore respectively. The tax receipts are estimated at ₹26.02 lakh crore.
The gross and net market borrowings through dated securities during 2024-25 are estimated at ₹14.13 and ₹11.75 lakh crore respectively. Both will be less than that in 2023-24. Now that the private investments are happening at scale, the lower borrowings by the Central Government will facilitate larger availability of credit for the private sector, FM Sitharaman said.
Budget 2024 Key Highlights LIVE: Revised Estimates for 2023-24
The Revised Estimate of the total receipts other than borrowings is ₹27.56 lakh crore, of which the tax receipts are ₹23.24 lakh crore. The Revised Estimate of the total expenditure is ₹44.90 lakh crore.
The revenue receipts at ₹30.03 lakh crore are expected to be higher than the Budget Estimate, reflecting strong growth momentum and formalization in the economy. The Revised Estimate of the fiscal deficit is 5.8% of GDP, improving on the Budget Estimate, notwithstanding moderation in the nominal growth estimates.
Budget 2024 Key Highlights LIVE: No changes in direct, indirect tax rates
Budget 2024 Key Highlights LIVE: Finance Minister Nirmala Sitharaman announced no changes in direct and indirect tax rates. “…I do not propose any changes in tax rates in direct and indirect taxes including import duties,” FM Sitharaman said in her Budget speech.
Budget 2024 Key Highlights LIVE: FY25 tax receipts estimated at ₹26.02 lakh crore in FY25,
Budget 2024 Key Highlights LIVE: The tax receipts for FY 2024-25 are estimated at ₹26.02 lakh crore, said FM Sitharaman. She noted that the average processing time of tax returns has been reduced to 10 days this year.
Budget 2024 Key Highlights LIVE: To provide ₹75,000 cr at 50-year interest free loan to states: FM
Budget 2024 Key Highlights LIVE: The union government will provide ₹75,000 crore at 50-year interest free loan to states. FDI inflows from 2014-2023 were at $596 billion, says FM Sitharaman.
Budget 2024 Key Highlights LIVE: FY25 fiscal deficit target pegged at 5.1% of GDP
Budget 2024 Key Highlights LIVE: FY25 fiscal deficit target has been pegged at 5.1% of GDP. .FY25 gross market borrowing pegged at ₹14.13 lakh crore, net borrowing at ₹11.75 lakh crore, FM Sitharaman said.
Budget 2024 Key Highlights LIVE: FY24 fiscal deficit revises down to 5.8% of GDP
Budget 2024 Key Highlights LIVE: Finance Minister Nirmala Sitharamam revises down FY24 fiscal deficit to 5.8% of GDP
Budget 2024 Key Highlights LIVE: 40,000 rail bogies to be converted to Vande Bharat coaches
Government will expand key rail infrastructure projects including Metro Rail and Namo Bharat to more cities. Around 40,000 rail bogies will be converted to Vande Bharat coaches, Sitharaman said.
Budget 2024 Key Highlights LIVE: FY25 capex target set at ₹11.1 lakh crore, up 11.1%
Budget 2024 Key Highlights LIVE: The capex target of FY25 has been set at ₹11.1 lakh crore, up by 11.1%, Sitharaman said.
Budget 2024 Key Highlights LIVE: Aim to increase Lakhpati Didis to 3 crore: FM Sitharaman
Budget 2024 Key Highlights LIVE: The government now aims to increase Lakhpati Didis to 3 crore from 2 crore. Corpus of ₹1 lakh crore will be established with 50-year interest free loans for sunrise domains, saud FM Sitharaman.
Budget 2024 Key Highlights LIVE: Aim to double seafood exports to ₹1 lakh crore: FM
Budget 2024 Key Highlights LIVE: PM Matsaya Sampada Scheme will be stepped up for aqua culture productivity. The scheme will aim to double seafood exports to ₹1 lakh crore, says FM Sitharaman.
Budget 2024 Key Highlights LIVE: Ayushman Bharat to be extended to all Asha workers
Budget 2024 Key Highlights LIVE: Healthcare cover under Ayushman Bharat Scheme will be extended to all Asha workers, all Anganwadi workers and helpers, says FM Sitharaman.
Budget 2024 Key Highlights LIVE: To provide housing for middle class
Budget 2024 Key Highlights LIVE: The government will help housing for the middle class living in rented or slums or unauthorized colonies to build or buy their own houses, FM Sitharaman said
Budget 2024 Key Highlights LIVE: 30 crore Mudra Yojana loans given to women entrepreneurs
The empowerment of women through entrepreneurship, ease of living and dignity has gained momentum in these 10 years. 30 crore Mudra Yojana loans have been given to women entrepreneurs, says FM Sitharaman.
Budget 2024 Key Highlights LIVE: PM Kisan Samman Yojana provided direct financial assistance to 11.8 crore farmers: FM
Budget 2024 Key Highlights LIVE: PM Vishwakarma Yojana provides end-to-end support to artisans and crafts people engaged in 18 trades. The schemes for empowerment of divyangs and transgender persons reflect the firm resolve of our government to leave no one behind. Every year, under PM Kisan Samman Yojana, direct financial assistance is provided to 11.8 crore farmers, including marginal and small farmers, says FM Sitharaman.
Budget 2024 Key Highlights LIVE: Garib, Mahilayen, Yuva and Annadata highest priorities of govt: FM
Budget 2024 Key Highlights LIVE: The needs and aspirations of Garib, Mahilayen, Yuva and Annadata are the government’s highest priorities, said Finance Minister Nirmala Sitharaman. Poor, women, youth and farmers are four castes for our government, she said.
Budget 2024 Key Highlights LIVE: Garib kalyan is desh ka kalyan, says FM Sitharaman
Budget 2024 Key Highlights LIVE: Finance Minister Sitharman in her budget speech said Garib Kalyan is desh ka kalyan. We believe in empowering the poor. With the pursuit of Sab ka Saath, the government has helped alleviate 25 crore people from multidimensional poverty.
Budget 2024 Key Highlights LIVE: Direct benefit transfer saved ₹2.7 lakh crore: FM Sitharaman
Budget 2024 Key Highlights LIVE: Direct benefit transfer of ₹34 lakh crore from the government using PM Jan Dhan Account led to savings of ₹2.7 lakh crore for the government. This saving has been realised through avoidance of leakages, said FM Sitharaman.
Budget 2024 Key Highlights LIVE: Economy witnessed positive transformation in last 10 years: Sitharaman
Budget 2024 Key Highlights LIVE: The Indian economy witnessed positive transformation in the last 10 years. With Sabka Saath, Sabka Vikaas, the Narendra Modi-led government overcame per-2014 challenges.
Budget 2024 Key Highlights LIVE: Finance Minister Sitharaman begins her Budget speech
Budget 2024 Key Highlights LIVE: Finance Minister Sitharaman presents the Interim Budget for FY 2024-2025 as she begins her Budget speech.
Budget 2024 Key Highlights LIVE: FY25 Fiscal Deficit target likely to be set at 5.5%
The fiscal deficit in absolute terms could decline in FY24 but as a % of GDP it could be at 5.9% and likely to be set at 5.5% in FY25 Interim Budget. The final budget to be presented in July could set it at a lower level of 5.3%-5.4% depending on GDP numbers that will be released in May 2024, Economists said. They believe net market borrowing of the Centre in FY25 will be around ₹11.7 lakh crore and with repayments of ₹3.6 lakh crore, gross borrowing is expected at ₹15.3 lakh crore.
Budget 2024 Key Highlights LIVE: Cabinet approves Interim Budget 2024
Budget 2024 Key Highlights LIVE: The Union Cabinet headed by Prime Minister Narendra Modi has approved the Interim Budget for Fiscal Year 2024-25 (April 2024 to March 2025). Earlier, Finance Minister Nirmala Sitharaman called on President Droupadi Murmu before presenting the pre-election Budget for 2024-25. As per established tradition, the finance minister met the President at the Rashtrapati Bhawan before heading to Parliament.
Budget 2024 Key Highlights LIVE: Net tax, non-tax revenue likely to exceed budget estimates
Budget 2024 Key Highlights LIVE: The interim budget 2024 is to be presented against the backdrop of a 7.3% Gross Domestic Product (GDP) growth in the current fiscal. Economists believe the strong momentum will allow the government to work towards the path of fiscal consolidation. The central government’s net tax revenue is likely to exceed budget estimates by ₹80,000 crore in current fiscal, while non tax revenue is also expected to exceed budget estimates by ₹50,000 crore. Similarly, expenditure may also exceed budget estimates by around ₹60,000 crore, economists said.
Budget 2024 Key Highlights LIVE: Budget may focus on support for rural growth, fiscal consolidation
Budget 2024 Key Highlights LIVE: Finance Minister Nirmala Sitharaman may not announce any major policy reforms in the interim budget 2024. However, analysts and economists believe the government’s focus in the budget will likely be on providing support to rural growth. Moreover, the government is anticipated to stick to its path of fiscal consolidation, without compromising on quality of expenditure.
Budget 2024 Key Highlights LIVE: FM Sitharaman reaches Parliament
Budget 2024 Key Highlights LIVE: Finance Minister Nirmala Sitharaman and her team have reached Parliament to present the Interim Budget 2024. She will begin her Budget speech at 11 am.
Budget 2024 Key Highlights LIVE: When, where and how to watch budget announcements live?
Budget 2024 Key Highlights LIVE: Finance Minister Nirmala Sitharaman will present the Interim Budget 2024 on Thursday, February 1. The Budget speech will begin at 11 am in Lok Sabha, the lower house of the Parliament. It will be telecasted live on the official channel of Parliament Sansad TV and Doordarshan.
The Interim Budget 2024 can be accessed in a “paperless form” through the Union Budget Mobile App. The bilingual app, available in English and Hindi, can be downloaded from the Union Budget Web Portal – www.indiabudget.gov.in
Budget 2024 Key Highlights LIVE: Major policy reforms unlikely?
Budget 2024 Key Highlights LIVE: Finance Minister Nirmala Sitharaman is unlikely to announce any major policy reforms as this would be an interim budget ahead of the general elections. This will be the conclusive budget of the second term of Prime Minister Narendra Modi’s government since the Lok Sabha elections 2024 are scheduled in April-May.
The interim budget 2024 will stay valid for the first four months of the new financial year 2024-2025. It is technically a vote on account as it seeks Parliament’s nod for a grant in advance to meet the Central government’s expenditure.
Budget 2024 Key Highlights LIVE: Stock market opens higher ahead of Budget 2024
Budget 2024 Key Highlights LIVE: The Indian stock market indices, Sensex and Nifty 50, opened higher on Thursday ahead of the announcement of Interim Budget 2024. The Sensex was trading 45.09 points, or 0.06%, higher at 71,797.20, while the Nifty 50 was up 19.70 points, or 0.09%, at 21,745.40. Broader markets traded mixed as the Nifty Midcap 100 index declined 0.1%, while the Nifty Smallcap 100 gained 0.3%.
Budget 2024 Key Highlights LIVE: Nirmala Sitharaman to be only 2nd FM to present six consecutive budgets
Budget 2024 Key Highlights LIVE: Finance Minister Nirmala Sitharaman will present the last Budget of the Modi 2.0 government today before the upcoming general elections. This will be Nirmala Sitharaman’s sixth straight budget. She will become the second Finance Minister in India to have presented the Union Budget for six consecutive years after Morarji Desai.
Sitharaman took charge as the Union Finance Minister in July 2019 becoming the first full-time woman Finance Minister of the country. She has presented five full Budgets and this will be her first Interim Budget.
Budget 2024 Key Highlights LIVE: FM Nirmala Sitharaman to unveil Budget 2024 today
Budget 2024 Key Highlights LIVE: Union Finance Minister Nirmala Sitharaman is set to present the Interim Budget for the financial year 2024-2025 in the Parliament today, February 1. The minister will begin her Budget speech at 10 am in the Lok Sabha today.
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