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Budget 2024 Highlights Updates: Nirmala Sitharaman lists 9 developmental priorities in 83-minute Budget speech
24 Jul, 2024 | 05:46:21 PM IST
Synopsis
Budget 2024 Announcements Highlights Updates: Finance Minister Nirmala Sitharaman presented the first full-fledged Budget of Modi 3.0. From India Inc to the middle class and job seekers, everyone has been keeping high hopes for this budget. Besides, some policy interventions could go a long way in providing impetus to the country's economic growth and also tackle the growing unemployment issue.
Budget 2024 Announcements, Union Budget Highlights News Updates:
Read Latest Budget 2024 Live Updates here
In her 83-minute Budget speech, Finance Minister Nirmala Sitharaman on Tuesday highlighted the nine priorities for creating ample opportunities, spanning from employment to energy security to next-generation reforms.
Draped in an off-white coloured Mysore silk saree with a purple-golden border, Sitharaman opened her tablet PC that was wrapped in a red-coloured 'bahi-khata' style pouch and started the speech with "Hon'ble Speaker, I present the Budget for 2024-25".
She said the people of India have reposed their faith in the government led by Prime Minister Narendra Modi and re-elected it for a historic third term under his leadership.
"We are grateful for their support, faith and trust in our policies. We are determined to ensure that all Indians, regardless of religion, caste, gender and age, make substantial progress in realising their life goals and aspirations," the minister said.
Referring to her interim budget presented in parliament in February, Sitharaman emphasised the need to focus on 4 major castes, namely 'Garib' (Poor), 'Mahilayen' (Women), 'Yuva' (Youth) and 'Annadata' (Farmer).
For Annadata, "we announced higher minimum support prices a month ago for all major crops, delivering on the promise of at least a 50 per cent margin over costs. Pradhan Mantri Garib Kalyan Anna Yojana was extended for five years, benefitting more than 80 crore people", she said.
On the full budget, she said it particularly focuses on employment, skilling, MSMEs, and the middle class.
She announced that the Prime Minister's package of 5 schemes and initiatives to facilitate employment, skilling and other opportunities for 4.1 crore youth over a five-year period with a central outlay of Rs 2 lakh crore.
This year, Sitharaman said, the government has made a provision of Rs 1.48 lakh crore for education, employment and skilling.
"The people have given a unique opportunity to our government to take the country on the path of strong development and all-round prosperity.
"In the interim budget, we promised to present a detailed roadmap for our pursuit of ‘Viksit Bharat'. In line with the strategy set out in the interim budget, this budget envisages sustained efforts on nine priorities for generating ample opportunities for all," she said.
The nine priorities are Productivity and resilience in Agriculture; Employment & Skilling; Inclusive Human Resource Development and Social Justice; Manufacturing & Services; Urban Development; Energy Security; Infrastructure; Innovation, Research & Development; and Next Generation Reforms.
"Subsequent budgets will build on these, and add more priorities and actions," the minister said.
The treasury benches welcomed the budgetary announcements by thumping their desks at least on 71 occasions during the 83-minute speech.
The strongest disapproval from the opposition was reserved for Sitharaman's fulsome announcements for Bihar and Andhra Pradesh - two states where JD(U) and TDP respectively are crucial allies of the BJP-led NDA.
Opposition members chanted slogans 'Sarkar ko bachane wala budget' and 'sarkar bachao', 'kursi bachao' budget as the finance minister read out a slew of measures for Bihar and Andhra Pradesh.
On Tuesday, Sitharaman presented her seventh straight Budget, surpassing the record of former prime minister Morarji Desai.
It was also the first Budget during Prime Minister Narendra Modi-led government's third term in office.
Show moreRead Latest Budget 2024 Live Updates here
In her 83-minute Budget speech, Finance Minister Nirmala Sitharaman on Tuesday highlighted the nine priorities for creating ample opportunities, spanning from employment to energy security to next-generation reforms.
Draped in an off-white coloured Mysore silk saree with a purple-golden border, Sitharaman opened her tablet PC that was wrapped in a red-coloured 'bahi-khata' style pouch and started the speech with "Hon'ble Speaker, I present the Budget for 2024-25".
She said the people of India have reposed their faith in the government led by Prime Minister Narendra Modi and re-elected it for a historic third term under his leadership.
"We are grateful for their support, faith and trust in our policies. We are determined to ensure that all Indians, regardless of religion, caste, gender and age, make substantial progress in realising their life goals and aspirations," the minister said.
Referring to her interim budget presented in parliament in February, Sitharaman emphasised the need to focus on 4 major castes, namely 'Garib' (Poor), 'Mahilayen' (Women), 'Yuva' (Youth) and 'Annadata' (Farmer).
For Annadata, "we announced higher minimum support prices a month ago for all major crops, delivering on the promise of at least a 50 per cent margin over costs. Pradhan Mantri Garib Kalyan Anna Yojana was extended for five years, benefitting more than 80 crore people", she said.
On the full budget, she said it particularly focuses on employment, skilling, MSMEs, and the middle class.
She announced that the Prime Minister's package of 5 schemes and initiatives to facilitate employment, skilling and other opportunities for 4.1 crore youth over a five-year period with a central outlay of Rs 2 lakh crore.
This year, Sitharaman said, the government has made a provision of Rs 1.48 lakh crore for education, employment and skilling.
"The people have given a unique opportunity to our government to take the country on the path of strong development and all-round prosperity.
"In the interim budget, we promised to present a detailed roadmap for our pursuit of ‘Viksit Bharat'. In line with the strategy set out in the interim budget, this budget envisages sustained efforts on nine priorities for generating ample opportunities for all," she said.
The nine priorities are Productivity and resilience in Agriculture; Employment & Skilling; Inclusive Human Resource Development and Social Justice; Manufacturing & Services; Urban Development; Energy Security; Infrastructure; Innovation, Research & Development; and Next Generation Reforms.
"Subsequent budgets will build on these, and add more priorities and actions," the minister said.
The treasury benches welcomed the budgetary announcements by thumping their desks at least on 71 occasions during the 83-minute speech.
The strongest disapproval from the opposition was reserved for Sitharaman's fulsome announcements for Bihar and Andhra Pradesh - two states where JD(U) and TDP respectively are crucial allies of the BJP-led NDA.
Opposition members chanted slogans 'Sarkar ko bachane wala budget' and 'sarkar bachao', 'kursi bachao' budget as the finance minister read out a slew of measures for Bihar and Andhra Pradesh.
On Tuesday, Sitharaman presented her seventh straight Budget, surpassing the record of former prime minister Morarji Desai.
It was also the first Budget during Prime Minister Narendra Modi-led government's third term in office.
1 New Update
Here's the wrap for today
- Union Budget has positive indicators on economic growth and development: Kiran Mazumdar Shaw
- Budget inclusive, will help consumption growth: SBI chief Dinesh Khara
- Nirmala Sitharaman says Modi govt provides funds to all states, does not discriminate
- INDIA Alliance MPs to Protest Union Budget 2024 tomorrow
- Govt proposes to increase tax deduction on family pension for pensioners to Rs 25,000 from Rs 15,000
- Budget is inclusive with thrust on quality job creation, skilling, says FICCI President
- Salaried employees under new tax regime to save up Rs 17,500 annually in taxes
- Budget 2024: Over Rs 3 lakh crore allocated for women and girls
- TN CM Stalin says he will boycott NITI Aayog meet on July 27
- Cut in gold import duty to help contain smuggling, says Piyush Goyal
- Budget empowers middle class, paves way for ‘Viksit Bharat’: PM Modi
- Union Budget 2024: What does it mean for Assam, Sikkim, and Manipur?
- Nirmala Sitharaman calls UPA-II era's Angel Tax a long-time industry concern
Budget 2024 LIVE Updates: Positive economic indicators highlighted by Kiran Mazumdar Shaw
The Executive Chairperson of Biocon Limited, Kiran Mazumdar Shaw has welcomed the Union Budget tabled by Finance Minister Nirmala Sitharaman. She said the budget builds further on the government's pre-election, Interim Budget and has positive indicators on how it is looking at India's economic growth and development.
The budget has also focused on the start-up ecosystem and provided a fillip through the abolition of the 'angel tax' which is aimed at spurring investments in start-ups, and the emphasis on 'ease of doing business' will benefit Medium Small Micro Enterprises, she noted.
The government's focus on research and innovation, especially agritech and industrial research, is a welcome move, the Biocon chief said.
The allocation of Rs 1 lakh crore financial pool will spur private sector-driven research and innovation at commercial scale, she opined.
The budget has also focused on the start-up ecosystem and provided a fillip through the abolition of the 'angel tax' which is aimed at spurring investments in start-ups, and the emphasis on 'ease of doing business' will benefit Medium Small Micro Enterprises, she noted.
The government's focus on research and innovation, especially agritech and industrial research, is a welcome move, the Biocon chief said.
The allocation of Rs 1 lakh crore financial pool will spur private sector-driven research and innovation at commercial scale, she opined.
Disasters may occur for a short period of time, but their impact haunts us for years. Last year, Dev Bhoomi Himachal Pradesh experienced one of the worst disasters in its history. Today, Finance Minister Smt. Nirmala Sitharaman ji announced aid to Himachal Pradesh, where the central government will provide assistance to the state for reconstruction and rehabilitation through multilateral development assistance
- Union Minister-BJP national president JP Nadda
Budget 2024 LIVE Updates: Gajendra Singh Shekhawat highlights Modi's vision for India's growth
Budget 2024 LIVE Updates: "Today's Budget reflects PM Modi's vision to make India a developed, prosperous, and powerful nation. PM Modi guarantees that our country, which has risen from being one of the fragile five economies to being among the top 5 economies, and soon to be top three economies, is dedicated to this Budget," says Union Minister Gajendra Singh Shekhawat
Budget 2024 LIVE Updates: FM lists 9 developmental priorities in 83-minute Budget speech
In her 83-minute Budget speech, Finance Minister Nirmala Sitharaman on Tuesday highlighted the nine priorities for creating ample opportunities, spanning from employment to energy security to next-generation reforms.
Draped in an off-white coloured Mysore silk saree with a purple-golden border, Sitharaman opened her tablet PC that was wrapped in a red-coloured 'bahi-khata' style pouch and started the speech with "Hon'ble Speaker, I present the Budget for 2024-25".
Draped in an off-white coloured Mysore silk saree with a purple-golden border, Sitharaman opened her tablet PC that was wrapped in a red-coloured 'bahi-khata' style pouch and started the speech with "Hon'ble Speaker, I present the Budget for 2024-25".
Budget 2024 LIVE Updates: Budget announces duty reductions on capital equipment and commodities
Budget 2024 LIVE Updates: Budget announces reduction of duties on capital equipment and commodities that are driving India’s energy transition and indigenization of India’s defense, space, and other high technology sectors. A welcome step that reduces overall costs domestically and improves competitive advantage in export markets, says Davinder Sandhu, Co-Founder & Chairperson, Primus Partners
Budget 2024 LIVE Updates: Budget inclusive, will help consumption growth: SBI chief Dinesh Khara
SBI chairman Dinesh Kumar Khara lauded the budget for its inclusive approach and exuded confidence that the proposals will boost sagging consumption growth. In a conversation with PTI Videos, Khara said banks will be helped by the Budget announcements like the Prime Minister Awas Yojana (PMAY) which will push credit growth, and also welcomed the specific measures on loan recovery. When asked if doing away with the indexation benefits will act as a dampener, he replied in the negative, pointing out that a bulk of homebuyers in the country are first time buyers and do not get driven by investments.
The three schemes that the budget announced with respect to the job creation cover many angles and it will have a huge impact on both the employment market and also on household income growth and consumption, spending powers etc
- Chief Economic Advisor V Anantha Nageswaran
Budget 2024 LIVE Updates: INDIA Alliance MPs to protest in Parliament tomorrow, 24th July, morning alleging the Union Budget2024 to be a "discriminatory budget"
Budget 2024 LIVE Updates: Nirmala Sitharaman says Modi government provides funds to all states
Finance Minister Nirmala Sitharaman dismissed the Opposition's criticism that the budget has accorded special treatment to states run by supporting parties, saying that those whose alliance got less than 230 seats have no right to question it as the Centre has provided funds to all states. On the issue of Rs 60,000 crore projects announced for Bihar and pledge to get multilateral assistance for the state and Andhra Pradesh, she said, Rs 1.5 lakh crore assistance has been promised for all states in the budget.
Budget 2024 LIVE Updates: Eric Mehta Partner - Price Waterhouse & Co LLP's reaction on budget
Budget 2024 LIVE Updates: The Finance Minister (FM) in today’s budget announced some noteworthy proposals on the tax front. One of the key announcements made was the comprehensive review of the Income-tax Act. This is a positive move intended to simplify the tax law, reduce litigation and provide tax certainty. Specifically, from a transfer pricing perspective, taxpayers have long argued for making the safe harbour rules more attractive. Accordingly, the announcement to expand the scope of the safe harbour rules is a positive one. However, we will have to wait for the detailed rules to understand the contours of the framework and understand its impact on taxpayers. The FM has also announced plans to streamline the transfer pricing assessment procedure, which also is a welcome move. For multinational enterprises, these reforms could translate into a more predictable and less contentious transfer pricing environment.
Budget inclusive, will help consumption growth: SBI chief Dinesh Khara
SBI chairman Dinesh Kumar Khara lauded the budget for its inclusive approach and exuded confidence that the proposals will boost sagging consumption growth. In a conversation with PTI Videos, Khara said banks will be helped by the Budget announcements like the Prime Minister Awas Yojana (PMAY) which will push credit growth, and also welcomed the specific measures on loan recovery. When asked if doing away with the indexation benefits will act as a dampener, he replied in the negative, pointing out that a bulk of homebuyers in the country are first time buyers and do not get driven by investments.
Budget 2024 LIVE Updates: Increased allocation for skilling and employment would create an industry-ready workforce, Centurion University of Technology Vice Chancellor
"The increased budgetary allocation for skilling, education and employment is a welcome step and would go a long way in India's vision to consistently create an industry-ready workforce. The Prime Minister's package of schemes and initiatives for skilling and employment is likely to benefit over 4 crore youth across the country, further aided by the dedicated Rs 1.48 lakh crore allocation for education, employment and skilling. The other highlight of this year's budget is the setting up of 1000 industry training institutes and new courses for emerging needs. With our campus already housing more than 50 industry-sponsored Action Labs and manufacturing units, we can vouch for the immense benefit of it as compared to conventional higher education methodologies. Also, loan provision up to 10 lakh for higher education in domestic institutions and the new internship scheme are welcome steps and point towards a bright future for India," said Supriya Pattanayak, Vice Chancellor, Centurion University of Technology and Management, Odisha.
Budget 2024 LIVE Updates: 'Govt's focus on infra and MSMEs will help businesses to grow'
Budget 2024 LIVE Updates: The government's renewed focus on infra is expected to dramatically increase demand in the industrial sector. The implementation of three employment-linked schemes will not only increase work prospects for new people entering the market. Still, it will also give critical support to employers, promoting a fair playing field for enterprises and organizations in the sector. This will also enable them to indulge in Industry 4.0 practices and equip themselves for export opportunities. Furthermore, the credit guarantee schemes for MSMEs in the manufacturing sector will enable businesses to grow and improve productivity," Bharath B Bommai, Entrepreneur & Industrialist.
Budget 2024 LIVE Updates: Enhancing vocational training and focusing on STEM can propel India towards becoming a global knowledge hub, says education expert
"This budget marks a pivotal moment for the education sector, with substantial investments aimed at revamping our education system. Enhancing vocational training and focusing on STEM education can propel India towards becoming a global knowledge hub. It's imperative, however, to monitor the implementation of these initiatives closely to ensure they reach the intended beneficiaries. Collaborative efforts between the government, private sector, and educational institutions will be key to achieving these ambitious goals," Bhupendra Bahadur Tiwari, Professor and Director, CMR University, Bengaluru.
Budget 2024 LIVE Updates: Budget is inclusive with thrust on quality job creation, skilling, says FICCI President
Commenting on the Union Budget 2024-25, Dr Anish Shah, President, FICCI said, “FICCI congratulates the Hon’ble Finance Minister for delivering a growth-oriented budget that has delivered both short term demand stimulus and actions focused on medium to long term growth imperatives, while maintaining fiscal discipline. The budget is inclusive, with a strong thrust on quality job creation and skilling. It also strikes a balance between agriculture and manufacturing, with elements of services.”
There is continuity in policy announcements. The focus on simplification and ease of doing business, boost to manufacturing, focus on research and innovation, thrust on public capex, use of technology, support to women, farmers and MSMEs, and promoting sustainability are the key themes that resonate once again in this Union Budget proposals.
“The focus areas of budget are very much in line with the FICCI’s key priorities for the industry and we are happy to note that many of FICCI’s suggestions have been considered in this budget, as seen in the proposals for accelerating agriculture research, enhancing participation of women workforce in manufacturing, factor market reforms for improving manufacturing competitiveness as well as measures to promote green economy,” he added.
There is continuity in policy announcements. The focus on simplification and ease of doing business, boost to manufacturing, focus on research and innovation, thrust on public capex, use of technology, support to women, farmers and MSMEs, and promoting sustainability are the key themes that resonate once again in this Union Budget proposals.
“The focus areas of budget are very much in line with the FICCI’s key priorities for the industry and we are happy to note that many of FICCI’s suggestions have been considered in this budget, as seen in the proposals for accelerating agriculture research, enhancing participation of women workforce in manufacturing, factor market reforms for improving manufacturing competitiveness as well as measures to promote green economy,” he added.
Budget 2024 LIVE Updates: MK Stalin to boycott NITI Aayog meet
TN CM Stalin says he will boycott NITI Aayog meet on July 27 to condemn Union Budget 'ignoring' Tamil Nadu
Budget 2024 LIVE Updates: Special attention to MSMEs and the manufacturing sector are commendable, says Blaupunkt Audio India CEO Sukhesh Madaan
"The technology support package for MSMEs will boost productivity and bridge economic inequality. Over the past decade, public investment in digital infrastructure and private sector innovations have enhanced access to market resources and various services. We will continue to drive digitalization. To further value addition in the domestic electronics industry, removing the BCD on oxygen-free copper for resistor manufacturing and exempting certain parts for connector manufacturing are key steps forward. We look forward to a collective growth with all the steps taken," said Sukhesh Madaan CEO of Blaupunkt Audio India.
Budget 2024 LIVE Updates: Union budget to promote inclusive growth, say industry players
Budget 2024 LIVE Updates: The Union budget, presented by Finance Minister Nirmala Sitharaman, will promote inclusive growth and provide resilience in the economy, industry players said. Emami Group director Aditya V Agarwal said the budget is holistic, offering a level-playing ground for many strata of society. Both direct tax relaxation under the new regime and the reform initiatives are directed towards sustainable growth and empowerment, he said.
Budget 2024 LIVE Updates: Measures will strengthen MSMEs, boost employment, say industry expert
Budget 2024 LIVE Updates: “The Credit Guarantee Scheme for MSMEs in the manufacturing sector is a significant step towards empowering small businesses with essential financial support without collateral. The new assessment model for MSME credit and mechanisms for credit support during stress periods are commendable initiatives that will help businesses maintain operations and avoid becoming NPAs. Additionally, reducing the turnover threshold for mandatory onboarding on the TReDS platform will unlock vital working capital for MSMEs, ensuring smoother cash flows. Enhancing the Mudra loan limit will provide additional support for business expansion. Expanding SIDBI coverage are positive moves to enhance direct credit access. Moreover, the budget's focus on substantial hiring of first-time employees in the manufacturing sector is particularly encouraging.This initiative will significantly boost employment and support economic growth,”Hemant Sapra. President, Global Sales & Marketing, KARAM Group.
Union Budget 2024: What does it mean for Assam, Sikkim, and Manipur?
With Assam grappling with several waves of floods every year Union Finance Minister Nirmala Sitharaman in the budget 2024-25 announced that assistance will be provided to Assam for flood management and related projects. The finance minister is presenting the first Union Budget of the Modi 3.0 government said, “Assam grapples with floods every year due to the Brahmaputra River and its tributaries originating outside India. We will assist Assam for flood management and related projects”. (Read more)
Budget 2024 LIVE Updates: Budget earmarks Rs 1.28 lakh cr for telecom ministry
Budget 2024 LIVE Updates: The government has proposed an allocation of Rs 1.28 lakh crore for telecom projects and public sector firms under the telecom ministry, with the majority of funds designated for state-owned BSNL. Of the total proposed allocation, over Rs 1 lakh crore is intended for BSNL and MTNL-related expenses, including Rs 82,916 crore for technology upgrades and restructuring at BSNL.
Budget 2024 LIVE Updates: P Chidambaram's take on Budget
Budget 2024 LIVE Updates: FM virtually adopted ideas underlying Congress proposals on employment-linked incentive scheme, apprenticeship, angel tax abolition: P Chidambaram
This budget is like an empty vessel given to Karnataka by Nirmala Sitharaman. Only Andhra Pradesh and Bihar have been given funds. Nothing has been given to other states because he (PM Modi) needs to have the confidence of those two states to remain as PM
- Karnataka CM Siddaramaiah
Budget 2024 LIVE Updates: No state is going to be left out, says FM Sitharaman
Union Budget 2024 Live Updates: I have not named all the states in the Budget speech, says FM
Budget 2024 LIVE Updates: Nitish Kumar on Budget allocations to Bihar
Union Budget 2024 Live Updates: On Budget allocation to Bihar, CM Nitish Kumar said, "I have continuously spoken for this (special status), I told them as well (NDA). I told them to give us either a special status or a special package...As a follow-up, they have announced aid for a lot of things...We were speaking of special status and a lot of people said that the provision for special status has been done away with much earlier. So, instead of that, aid should be given for helping Bihar. They have now started it."
Budget 2024 LIVE Updates: Naidu thanks FM Sitharaman for Andhra share in Budget
Union Budget 2024 Live Updates: In a post, Andhra Pradesh CM Chandrababu Naidu expressed gratitude on behalf of the people of Andhra Pradesh, thanking Prime Minister Narendra Modi and Union Finance Minister Nirmala Sitharaman for addressing the state's needs in the FY 24-25 Union Budget. He also highlighted the focus on key areas such as the capital, Polavaram, industrial nodes, and the development of backward areas in Andhra Pradesh. Naidu noted that this support from the Centre will significantly aid in rebuilding the state and congratulated them on presenting a progressive and confidence-boosting budget.
Budget 2024 LIVE Updates: Sitharaman on 12.5% tax on long-term capital gains
Union Budget 2024 Live Updates: On the 12.5% tax on long-term capital gains, Union Finance Minister Nirmala Sitharaman explained, "We wanted to simplify the approach to taxation - also for the capital gains. Second, if anything, the average taxation has actually come down when we say it is 12.5%. We have worked out for each of the different asset classes...The point that we brought it down from below the average to 12.5% encourages investment in the markets..."
Budget 2024 LIVE Updates: FM addresses the issue of investments from China
Union Budget 2024 Live Updates: Sitharaman addressed the issue of investments from China, stating that the Economic Survey provided its perspective on the matter. She explained that these investments, like those from other neighboring countries, undergo a review process. While the survey suggested it might be time to open up, she noted that this suggestion is still being considered cautiously and does not imply she is disowning it.
Budget 2024 LIVE Updates: FM on old tax regime's future
Union Budget 2024 Live Updates: The Finance Minister stated that she can't take a call on whether the old tax regime will be done away with but emphasised that the intention is to make the tax regime simpler.
Budget 2024 LIVE Updates: A committee is studying National Pension System, says Fin Secy
Union Budget 2024 Live Updates: The attempt is to design something that is fiscally prudent and provides for the needs of staff, said Finance Secretary T.V. Somanathan.
Budget 2024 LIVE Updates: Expenditure towards railways highest
Union Budget 2024 Live Updates: Expenditure towards railways is the highest ever, said Finance Secretary TV Somanathan
Budget 2024 LIVE Updates: There has been a consistent effort to relax FDI, says Nirmala Sitharaman
Budget 2024 LIVE Updates: Finance Secy on fiscal deficit
Union Budget 2024 Live Updates: Finance Secretary T.V. Somanathan stated that it is highly likely the fiscal deficit will not exceed 4.5% in FY26.
Budget 2024 LIVE Updates: Finance Secy on debt-to-GDP ratio
Union Budget 2024 Live Updates: Finance Secretary T.V. Somanathan stated that there is a commitment to endeavor to reduce the debt-to-GDP ratio every year.
Budget 2024 LIVE Updates: The budget has potential to significantly boost our nation's growth trajectory, says Forever Living Products' Harish Singla
“The Budget is undoubtedly a visionary move. This budget has the potential to significantly boost our nation's growth trajectory, aligning with India's aspirations of becoming a global leader. As we progress, this budget plays a crucial role in shaping our future. The introduction of women-specific programs is particularly commendable, as it aims to empower women and make them more independent. Additionally, the new central scheme for skilling, in collaboration with state governments, the upgradation of technical institutes, and the focus on employment are set to pave the way for a developed India (VIKSHIT BHARAT). This proactive approach demonstrates a forward-thinking vision for the country. These initiatives are poised to create a more conducive environment for the retail sector, fostering seamless operations and facilitating overall growth,” Harish Singla, Country Sales Manager, Forever Living Products (India) said.
Budget 2024 LIVE Updates: FM on Rs 15,000 cr to Andhra Pradesh
Union Budget 2024 Live Updates: Rs 15,000 crore to Andhra Pradesh will be through multi-lateral assistance, said Finance Minister Nirmala Sitharaman in a Budget media briefing.
Budget 2024 LIVE Updates: Angel tax introduced in UPA-II, says Nirmala Sitharaman
Union Budget 2024 Live Updates: Finance Minister Nirmala Sitharaman stated that the Angel Tax was introduced during UPA-II. She acknowledged that it has been a long-time concern of the industry.
Budget 2024 LIVE Updates: Looking to generate resources from newer areas, says Nirmala Sitharaman
Budget 2024 LIVE Updates: STT change in F&Os will be effective from October 1
Budget 2024 LIVE Updates: Finance Ministry on the abolition of Angel Tax
Union Budget 2024 Live Updates: The Finance Ministry commented on the abolition of the Angel Tax, stating that while it was effective in preventing money laundering, but it also inadvertently hindered investment in India.
Budget 2024 LIVE Updates: Real rate of return earlier was about 6-16% in real estate, says Finance Secy TV Somanathan
Budget 2024 LIVE Updates: From 20% with indexation to 12.5% without indexation for unlisted assets, says Finance Secretary TV Somanathan
Budget 2024 LIVE Updates: Revenue mobilisation is not just tax based, says NirmalaSitharaman
Budget 2024 LIVE Updates: Short term capital gains has gone up, says Finance Secy
Budget 2024 LIVE Updates: LTCG has not gone up, it has been rationalised, says Finance Secy
Budget 2024 LIVE Updates: Lower capital gains tax to encourage investment, says Nirmala Sitharaman
Budget 2024 LIVE Updates: Nirmala Sitharaman briefs media after Budget presentation
Budget 2024 LIVE Updates: "Budget has charted a progressive course for the real estate sector"
Union Budget 2024 Live Updates: " The budget's comprehensive framework targets critical areas such as affordable housing, urban infrastructure, and digital transformation, setting the stage for significant advancements in the real estate market. A notable highlight is the allocation of Rs 10 lakh crore under the Pradhan Mantri Awaas Yojana (PMAY) for urban housing, poised to address the housing shortage and stimulate the affordable housing segment. The emphasis on Transit-Oriented Development (TOD) for major cities will enhance connectivity, reduce congestion, and promote sustainable urban growth. The establishment of industrial parks through public-private partnerships is another strategic initiative, expected to bolster industrial development and generate employment. The provision of rental housing for industrial workers via the Viability Gap Funding model addresses a crucial need for affordable accommodation, supporting the workforce essential to the economic ecosystem," said Nitin Gupta, Founder and Managing Director, Maestro Realtek.
Budget 2024 LIVE Updates: Budget moves on STT, STCG minor tinkering, says NSE CEO
Union Budget 2024 Live Updates: Ashish Chauhan, the Chief Executive Officer and Managing Director of NSE, the largest equity exchange, described the Budget's measures on the securities transaction tax and short-term capital gains tax as "minor tinkering" that will not have a significant effect on the markets on Tuesday.
Regarding the market correction that followed Union Finance Minister Nirmala Sitharaman's budget address statements, Chauhan stated that investors' lack of comprehension of the movements' ramifications is what caused the sell-off.
Regarding the market correction that followed Union Finance Minister Nirmala Sitharaman's budget address statements, Chauhan stated that investors' lack of comprehension of the movements' ramifications is what caused the sell-off.
Budget 2024 LIVE Updates: Here's everything that got costlier after the Budget
- Polyvinyl chloride (PVC) flex films
- Garden umbrellas Laboratory chemicals
- Solar glass for manufacture of solar cells or solar modules
- Tinned copper interconnect for manufacture of solar cells or solar modules
Budget 2024 LIVE Updates: Here's everything that got cheaper after the Budget
- Imported mobiles
- Gold, silver, and other precious metals
- Cancer Drugs - Trastuzumab Deruxtecan, Osimertinib, Durvalumab
- Medical Equipment - All types of polyethylene for use in the manufacture of orthopedic implants X-ray tubes
- Imported cellular mobile phone Charger/Adapter
- Specified capital goods for use in the manufacture of solar cells or solar modules, and parts for the manufacture of such capital goods
- Shea nuts Fish lipid oil for use in the manufacture of aquatic feed Crude fish oil
Budget 2024 LIVE Updates: Govt cuts borrowing target
Union Budget 2024 Live Updates: Due to an increase in tax revenue, the government has reduced its projected borrowings for the current fiscal year to 14.01 lakh crore. To achieve its desired budget deficit, the government must issue dated securities in order to borrow money.
Budget 2024 LIVE Updates: Mobile Phones to get cheaper
Union Budget 2024 Live Updates: Finance Minister Nirmala Sitharaman announced a 15 per cent cut in the Basic Customs Duty (BCD) on mobile phones. The BCD on mobile chargers and Printed Circuit Board Assembly (PCBA) will also be reduced to 15% in addition to mobile phones.
Budget 2024 LIVE Updates: Sensex rebounds 1,500 pts from day's low, Nifty back above 24,500
Budget 2024 LIVE Updates: Customs duties reduction on 25 critical minerals
Union Budget 2024 Live Updates: Customs duties on 25 critical minerals for sectors like nuclear energy, renewable energy, space, defence, telecommunications, and high-tech electronics are made fully exempt and reduce BCD on two of them. This will provide a major fillip to the processing and refining of such minerals and help secure their availability for these strategic and important sectors.
Budget 2024 LIVE Updates: Rahul Gandhi calls Sitharaman's Budget as a 'Kursi Bachao' Budget
Union Budget 2024 Live Updates: Rahul Gandhi referred to Sitharaman's Budget as a 'Kursi Bachao' Budget in a post on X. He criticised it for making hollow promises to appease allies at the cost of other states, providing benefits to cronies without offering relief to the common Indian, and being a copy-and-paste job from the Congress manifesto and previous budgets.
