Budget 2024 Highlights

01 Feb, 24 : 09:05 AM

Nifty likely to open higher ahead of Interim Budget presentation

Sensex and Nifty are poised for a positive start ahead of the Interim Union budget. This bullish sentiment comes even as global stocks remain muted following the US Federal Reserve's remarks.

01 Feb, 24 : 09:06 AM

Nirmala Sitharaman arrives at the Ministry of Finance

Finance minister Nirmala Sitharaman arrives at the Ministry of Finance ahead of Interim Budget presentation.

01 Feb, 24 : 09:22 AM

Not expecting 'big bang announcements' from Nirmala Sitharaman

Madhavi Arora, economist at Emkay Global told news agency Reuters, “The upcoming interim budget would lack any big bang announcements but is likely to be watched for the pace of fiscal consolidation and policy priorities ahead

01 Feb, 24 : 09:23 AM

Should Section 80C deduction be included in the new income tax regime?

“The new tax regime was introduced with the intent to simplify the income-tax laws and provide significantly reduced income-tax rates for individual taxpayers who forgo certain exemptions and deductions. However, considering that there is no universal social security benefit available in India and that all individuals have to provide for it on their own, it may be beneficial to introduce a deduction under the new tax regime. It could be a combined deduction (not limited to section 80C) of INR 250,000 to cover provident fund, life and medical insurance premiums, NPS, interest on housing loan etc,” says Surabhi Marwah, Tax Partner, EY

01 Feb, 24 : 09:39 AM

Sensex opens flat at 71,760, Nifty nears 21,730

On Union Budget day, Sensex opens flat at 71,760, Nifty nears 21,730.

01 Feb, 24 : 10:00 AM

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 on Android, iOS, or from the Union Budget Web Portal (www.indiabudget.gov.in). This Government of India app will provide all essential Budget documents, including the Annual Financial Statement, Demand for Grants, and the Finance Bill as mandated by the Constitution. Budget documents will be promptly available on the Mobile App following the conclusion of the Budget Speech.

01 Feb, 24 : 10:17 AM

LPG price hike: Commercial cylinder rates raised by Rs 14 ahead of Budget speech

01 Feb, 24 : 10:20 AM

Finance Minister Nirmala Sitharaman and his team are all smiles ahead of the Budget 2024.

01 Feb, 24 : 10:41 AM

Union Minister of Finance and Corporate Affairs Nirmala Sitharaman along with Ministers of State Dr Bhagwat Kishanrao Karad and Pankaj Chaudhary and senior officials of the Ministry of Finance called on President Droupadi Murmu at Rashtrapati Bhavan before presenting the Interim Budget.

01 Feb, 24 : 10:48 AM

Stocks of companies related to railways were trading in the positive territory on Thursday morning ahead of the presentation of the interim Budget.

01 Feb, 24 : 10:55 AM

The Union Cabinet has approved the interim budget prepared by Finance Minister Nirmala Sitharaman's team.

01 Feb, 24 : 10:55 AM

Pradhan Mantri Jan Arogya Yojana Insurance Cover Likely To be Increased
The Finance Minister could consider hiking the Pradhan Mantri Jan Arogya Yojana (PM-JAY) insurance cover by up to 50%,

01 Feb, 24 : 10:56 AM

Ahead of the Budget presentation this morning, the general consensus among Congress leaders seems to be that the interim budget will be geared towards the upcoming Lok Sabha polls.

01 Feb, 24 : 11:01 AM

We are officially just  minutes away from hearing Union Finance Minister Nirmala Sitharaman's Budget 2024 speech. 

01 Feb, 24 : 11:03 AM

Changes in income tax slabs, income tax rates, hike in standard deduction, Section 80C limit, more attractive new income tax regime - these are some of the top expectations of the common man and middle class from the Narendra Modi government’s Interim Union Budget 2024.

01 Feb, 24 : 11:12 AM

PM Modi Arrives In Lok Sabha

Prime Minister Narendra Modi has arrived in Lok Sabha for Union Budget 2024 presentation

01 Feb, 24 : 11:13 AM

Nirmala Sitharaman Presents Interim Budget

Finance Minister Nirmala Sitharaman is presenting Union Budget 2024

01 Feb, 24 : 11:16 AM

First glimpse of Nirmala Sitharaman presenting the interim budget 2024 from the Lok Sabha.

01 Feb, 24 : 11:18 AM

Our aim is to build a prosperous country 

In the second term, our government doubled down on its responsibility to build a prosperous country, says Nirmala Sitharaman.

01 Feb, 24 : 11:20 AM

Garib Kalyan is desh ka kalyan, says FM Nirmala Sitharaman

Finance minister Nirmala Sitharaman said, “Garib Kalyan is desh ka kalyan. We believe in empowering the poor. The earlier strategy of entitlement did not work. With the pursuit of Sab ka Saath, the government has helped alleviate 25 crore people from multi-dimensional poverty. With the pursuit of Sabka Saath in last 10 years, the government has assisted 25 crore people to get freedom from multidimensional poverty.”

01 Feb, 24 : 11:21 AM

We need to focus on four major pillars -- poor, women, youth and annadatas, says, Nirmala Sitharaman 

Nirmala Sitharaman said, “There is transparency and assurance that benefits are available for all eligible people, and the resources are distributed towards all eligible people without any discrimination. We are addressing systemic inequalities that have plagued our society. We need to focus on four major pillars -- poor, women, youth and annadatas. Their empowerment and wellbeing will drive country forward.”

01 Feb, 24 : 11:22 AM

Our prosperity depends on equipping and empowering the youth, says FM

Finance minister Nirmala Sitharaman said, “For welfare of our annadata, every year, under PM Kisan Samman Yojana, direct financial assistance is provided to 11.8 crore farmers. Crop insurance is given to 4 crore farmers under PM Fasal Bima Yojana. Our prosperity depends on equipping and empowering the youth.”

01 Feb, 24 : 11:24 AM

The economy is doing well, Nirmala Sitharaman

Average Real income has increased by 50%, inflation is moderate. Peopl are getting empowered, and enables to pursue their aspirations, says  Sitharaman.

01 Feb, 24 : 11:28 AM

Nirmala Sitharaman on infrastructure growth

Nirmala Sitharaman said, "All forms of infrastructure – digital, social, physical – are being built in record time," Sitharaman said.Empowerment of women has gained momentum with 30 crore Mudra Yojana loans, she added. Around 70% houses in rural areas under PM Awas Yojana given to women as single or joint owners."

01 Feb, 24 : 11:29 AM

Nirmala Sitharaman says, "Female enrolment in higher education up by 28% in 10 years, in STEM courses, girls & women make 43% of enrolment, one of the highest in the world. All these steps are reflected in the increasing participation of women in the workforce. Making triple talaq illegal, reservation of 1/3 seats for women in Parliament and state assemblies, over 70 % houses under PM Awas Yojana to women have increased their dignity."

01 Feb, 24 : 11:37 AM

FM Sitharaman announces, "The health cover under the Ayushman Bharat scheme will be extended to all ASHA and Anganwadi workers and helpers."

01 Feb, 24 : 11:39 AM

Free vaccine for cervical cancer for girls between 9-14yrs announces Nirmala Sitharaman.

01 Feb, 24 : 11:47 AM

A corpus of ₹ 1 lakh crore will be established with 50-year interest free loan to provide long term financing with long tenure with no or less interest rates. A new technology will be launched for to strengthen deep tech for defence purposes

01 Feb, 24 : 11:47 AM

Finance Minister Nirmala Sitharaman said the government will help "deserving" sections of middle class to build their own houses

01 Feb, 24 : 11:52 AM

Govt to launch a scheme to help those living in rented houses, slums or chawls or unauthorised colonies

Govt will launch a scheme to help deserving sections of the middle class, as quoted by PM Modi "living in rented houses, slums or chawls or unauthorized colonies"-- to buy or build their own houses.

01 Feb, 24 : 11:54 AM

Metro Rail, Namo Bharat to be expanded announces Nirmala Sitharaman

 Nirmala Sitharaman said that key rail infrastructure projects including Metro Rail and Namo Bharat will be expanded to more cities and around 40,000 rail bogies will be converted to Vande Bharat coaches.

01 Feb, 24 : 11:54 AM

Nirmala Sitharaman's gift for Anganwadi and Asha workers

Finance minister Nirmala Sitharaman announced, “Ayushman Bharat cover will be extended to all Anganwadi and Asha workers. All maternal and child healthcare schemes will be brought under one comprehensive scheme. Furthermore, the government is enhancing thetarget for Lakhpati Didi scheme to ₹3 crore from ₹2 crore.”

01 Feb, 24 : 11:58 AM

Nirmala Sitharaman on next five years

Nirmala Sitharaman said, "The next 5 years will be years of unprecedented development and to realise the goal of becoming a developed country by 2047. The PM has said there is no dearth of opportunity as the trinity of democracy, demography and diversity can fulfill aspirations of every Indian".

01 Feb, 24 : 11:58 AM

Nirmala Sitharaman's praise for PM Modi plan

Nirmala Sitharaman said, “One crore households will get up to 300 units of electricity every month with rooftop solarisation following PM Modi's plan after the inauguration of Ram Mandir.”

01 Feb, 24 : 11:59 AM

Finance minister Nirmala Sitharaman said, “Crop insurance has been given to 4 crore farmers under the PM Fasal Bima Yojana. This assists the annadata in producing food for the country and the world. 1361 mandis integrated with 3 lakh crore trading volume.”

01 Feb, 24 : 12:01 PM

Tourism projects to be taken up in Lakshwadeep

Nirmala Sitharaman said that projects for tourism will be taken up at islands, including Lakshawdeep. Tourism, including spiritual tourism, has tremendous opportunities and all states will be encouraged to take up iconic tourist spots and develop them, she explained.

01 Feb, 24 : 12:07 PM

No change in direct or indirect tax rates, announces finance minister

Finance minister Nirmala Sitharaman said, “I do not propose any changes in tax rates in direct and indirect taxes including import duties.”

01 Feb, 24 : 12:13 PM

Nirmala Sitharaman on aviation section

Finance minister Nirmala Sitharaman said, “The Centre has galvanised the aviation sector over the last 10 years as the number of airports has doubled to 149 in the last decade.”

01 Feb, 24 : 12:18 PM

Sitharaman on promoting Indian Railways

"Three major Railway economic corridors programmes will be implemented. These are energy, mineral and cement corridor; port connectivity corridors and high traffic density corridors. The projects have been identified under the PM Gati Shakti for enabling multi-modal connectivity. They will improve logistics efficiency and reduce cost," said Finance Minister Nirmala Sitharaman.

01 Feb, 24 : 12:18 PM

Sitharaman completes Budget presentation

Union Finance Minister Nirmala Sitharaman has completed the presentation of the Interim Union Budget. This time around, her budget speech was a little less than an hour long. Notably, her longest-ever speech was in 2020, when she spoke for two hours and 40 minutes. Her speech last year, was just about 87 minutes. 

01 Feb, 24 : 12:23 PM

Budget 2024-25 Highlights

FY25 gross borrowing is estimated at ₹14.13 trillion, achieving a reduction from that of FY24

Research led the growth and development of indigenous oilseeds like mustard, groundnut and sesame to make India self-sufficient. Currently, India imports about 60% of its cooking oil spending over ₹1.5 trillion in a year.

Sitharaman has adopted an aggressive fiscal consolidation target. She has announced an FY25 fiscal deficit target of 5.1% as against the expectation of 5.3% levels. In FY24 the fiscal deficit target of 5.8% has been achieved thanks to better revenue mobilization as against the target of 5.9%.

FM announced a scheme for housing for the middle class to those living in rented houses, slums, and unauthorised colonies to buy or build their own house.

More medical colleges to be set up using existing infrastructure

Healthcare cover under Ayushman Bharat scheme to be extended to all Anganwadi workers, helpers

Efforts to boost farmers' income will be stepped up

Government to promote private investment in post-harvest activities

The Finance Minister Sitharaman announced the withdrawal of outstanding disputed tax demands. The move is set to benefit 1 crore taxpayers.

In a disappointment for the taxpayers, the FM chose to keep the tax rates unchanged in the interim Budget 2024, including import duty. However, certain benefits to start-ups and tax exemptions to certain IFSC units expiring in March will be extended to March 2025.