This Article is From Feb 01, 2024

Budget 2024 Highlights: In Nirmala Sitharaman's Budget, No Change In Tax Slabs

Budget 2024 Highlights: Finance Minister Nirmala Sitharaman presented an interim budget - a short-term financial plan. The full-fledged budget will be presented by the new government after Lok Sabha polls.

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Budget 2024: This is FM Nirmala Sitharaman's sixth Union Budget.

New Delhi:

Finance Minister Nirmala Sitharaman today presented Union Budget 2024 in Parliament. This was an interim budget as it came just ahead of the Lok Sabha Elections. No changes were announced in the tax slabs in both old and new regime. Prime Minister Narendra Modi praised Nirmala Sitharaman for presenting a balanced budget. 

This was Nirmala Sitharaman's sixth Union Budget. The full-fledged budget will be presented by the new government that comes to power after the elections. 

The interim budget - a short-term financial plan - seeks Parliament nod for a grant in advance to meet the government's essential expenditure for the first four months of the new financial year. 

The Budget Session of Parliament began yesterday with President Droupadi Murmu addressing the joint meeting of both Rajyya Sabha and Lok Sabha. The session will conclude on February 9.

Stock markets opened in green today, ahead of the interim budget.
 

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Here Are The Highlights Of Union Budget 2024:


 

Feb 01, 2024 22:23 (IST)
"1 Lakh Crore Budget For Youth Is A Gamechanger": Minister Rajeev Chandrasekhar To NDTV

A corpus of ₹ 1 lakh crore to scale up research and innovation in sunrise domains will be a "game-changer", Union Education Minister Rajeev Chandrasekhar told NDTV hours after Finance Minister Nirmala Sitharaman made the big announcement in the interim budget.

Terming it a golden era for the country's tech- savvy youth, Ms Sitharaman said the corpus of ₹ 1 lakh crore will be established with 50-year interest-free loans to encourage the private sector to scale up research and innovation.
Feb 01, 2024 22:14 (IST)
"Global Bodies Now Say India Is World's Growth Engine": Jyotiraditya Scindia

Global financial organisations are now acknowledging that India, which was a bogey in the train of growth of the world, has today become the engine of growth for the world, Union Minister Jyotiraditya Scindia has said.

In an exclusive interview with NDTV, in which he shared his thoughts on the Interim Budget presented earlier in the day, the Civil Aviation Minister claimed India is now producing 15% of the world's GDP growth and that is the transformation that has come about under Prime Minister Narendra Modi.

Asked whether there was enough in the Interim Budget to indicate that infrastructure development will remain a core focus for the government, Mr Scindia said, "What will remain the core focus is the rise of India. The move of India under PM Modi to become an Atmanirbhar (self-reliant) country... To become a Vishwaguru (world leader)... to become a Viksit desh (developed country) from a Vikassheel (developing) desh.  Everything as part of the Budget or policymaking... that is the core element around which everything revolves."
Feb 01, 2024 21:52 (IST)
Next 5 Years Crucial For 25-Year Roadmap: Anurag Thakur To NDTV

The Union budget presented in parliament today was not prepared with the coming elections in mind, Union minister for Information and Broadcasting Anurag Thakur told NDTV in an exclusive interview. The election, he insisted, will be a referendum on the 10 years of the Narendra Modi government.

"This is just a budget to strengthen the base of a developed India (Viksit Bharat) and one to fulfil the expectations of young people," he said, expressing confidence that the track record of the government will be enough to win it a third straight term.

He said the BJP government has delivered om each of its promises, includng the scrapping of Article 370, the CAA law, removing of triple talaq and the building of the Ram temple in Ayodhya.
Feb 01, 2024 21:50 (IST)

Feb 01, 2024 21:50 (IST)
AI Represents A Multi-Billion-Dollar Opportunity For India: Rajeev Chandrasekhar To NDTV

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Feb 01, 2024 20:40 (IST)
Ensured No Section Is Starved Of Funds, Piyush Goyal On Interim Budget 2024

Commerce and Industry Minister Piyush Goyal congratulated Finance Minister Nirmala Sitharaman for presenting an interim Budget that gave a strong vision of development for the country. He said no government department has to wait for funds, or face lack of funds, and acknowledged the Centre's work on ensuring "no section is starved of funds".

The interim Budget may be thinner than the full Budget, keeping in line with convention in a year of the general election, but it still packs a punch in charting the course of India's plans for faster growth, Mr Goyal told NDTV today.

He credited Prime Minister Narendra Modi for starting schemes and programmes for women since the day he became Prime Minister in 2014. These schemes have had a cumulative effect on the welfare of women, Mr Goyal said.
Feb 01, 2024 20:39 (IST)
"India Adding 1 Switzerland On Railway Tracks Every Year": Ashwini Vaishnaw To NDTV

Expecting to close the financial year having laid 5,500 km of new tracks, India is practically adding a new Switzerland to its railway network every year, Union Minister Ashwini Vaishnaw has said. While estimates vary, the length of the European country's entire railway network is around 5,200km.

Speaking exclusively to NDTV on Thursday, after the BJP-led government presented the Interim Budget for 2024, the Railway Minister said India had added 5,200 km of tracks last year and is on track to add another 5,500 km this year. He also asserted that, unlike previous dispensations, his government's primary focus has been on safety.

Asked about his thoughts on the Budget and the increase in capital expenditure, which is indicative of a focus on infrastructure, Mr Vaishnaw said, "If you look at the journey of the last 10 years, it has been a journey of inclusive growth. It has been a journey in which the people who were left out of development and economic growth, have been brought into the ambit of growth and better life.  For example, 11 crore houses have got tap water, 4 crore pucca houses have been built for people living in villages and in urban poor areas."
Feb 01, 2024 20:38 (IST)
Interim Budget 2024: India's Aid To Maldives 50% Higher Than Last Year's Outlay, But Lower Than Actual Spend

India has raised development assistance to the Maldives by 50 per cent from Rs 400 crore to Rs 600 crore in this year's interim Budget, according to the demand for grants of the Ministry of External Affairs (MEA). Though India allocated Rs 400 crore last year, it ended up spending Rs 770 crore, per the revised estimates.

This means India's development assistance for the Maldives this year is lower by 22 per cent than what was spent last year.
Feb 01, 2024 20:25 (IST)
Next 2 Decades Will Take Indian On Transformational Journey: Piyush Goyal

Finance Minister Nirmala Sitharaman presented the Interim Budget. This is the last budget before the Lok Sabha elections and Union Minister Piyush Goyal reacted to the budget and said, "We inherited a broken economy, the world had written us off, high inflation, growth plummeting and by and large the confidence was missing."

The next two decades will take India on a transformational journey, its time has come. The budget envisions 3 crore 'lakhpati didis'. We will see large investments and job opportunities in India.

The Modi government in its 10-year journey has focused on, whether it is health, infra, connectivity, railways, airports, and tap water connections, etc. This government has focused on making the life of the common man better. We have increased the productivity and income of farmers and the poor have come out of deprivation.


Feb 01, 2024 20:01 (IST)
"Major Allocation For Vande Bharat But Not Coaches Used By Poor": P Chidambaram

Former Finance Minister P Chidambaram in an exclusive interview to NDTV reacted on the interim budget and said, "Central government's capital expenditure is mainly on railways and roads, but roads are used by everybody and don't make an exception between rich and poor but in railways the major allocation has been for Vande Bharat, etc. but not on coaches used by the poor. They are spending massive amounts of money on trains largely used by middle-class and upper-middle-class
Feb 01, 2024 19:43 (IST)
“Inclusive, Sustained Economic Growth”: Minister Ashwini Vaishnaw On Budget

Union Minister Ashwini Vaishnaw in an exclusive interview to NDTV talked about how the interim budget is "inclusive and supports India's growth" and said "The journey of last 10 years has been of inclusive growth. Four crore pucca houses have been built in urban areas and have been key to overall economic growth. India's growing at a good pace of almost 7-8 per cent and is thought through police of PM Modi."
Feb 01, 2024 19:06 (IST)
Record Rs 6.21 Lakh Crore Allocated For Defence In Interim Budget

Feb 01, 2024 19:00 (IST)
Social Justice Ministry Allocated Rs 14,225 crore In Interim Budget

The Social Justice and Empowerment Ministry has been allocated Rs 14,225.47 crore in the interim Budget for 2024-25, an increase of 28.4 per cent over Rs 11,078.33 crore in the Budget (revised estimates) for 2023-24.

The Department of Social Justice and Empowerment has been allocated Rs 13,000 crore in 2024-25 while the Department of Empowerment of Persons with Disabilities got Rs 1,225.27 crore in the interim Budget presented by Finance Minister Nirmala Sitharaman in Parliament on Thursday.

In 2023-24, the revised estimate of the Department of Social Justice and Empowerment was Rs 9,853.32 crore and the Department of Empowerment of Persons with Disabilities was Rs 1,225.01 crore.

Under the Department of Empowerment of Persons with Disabilities, the National Program for the Welfare of Persons with Disabilities received an allocation of Rs 615 crore.
Feb 01, 2024 18:59 (IST)
Rs 24,931 Crore Allocated For Metro Projects, Rs 1,300 Crore For Electric Buses

Prioritising the urban public transport, the government proposed to allocate Rs 1,300 crore to procure electric buses and Rs 24,931 crore in the interim Budget to fund various metro projects in the country.

There is a 7.57 per cent increase in funds for the mass rapid transit system and metro projects in comparison to the last year's allocation of Rs 23,175 crore.

In the interim Budget presented by Union Finance Minister Nirmala Sitharaman, Rs 26,170 crore has been set aside for the Pradhan Mantri Awas Yojana (Urban) -- an increase of 4.3 per cent.

The Prime Minister Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi), a micro-credit scheme that provides collateral-free working capital loans of up to Rs 50,000 to street vendors, has been allocated Rs 326 crore against Rs 468 crore in the last Union Budget.
Feb 01, 2024 18:58 (IST)
School Education Gets Record Allocation Of Over Rs 73,000 Crore

In the highest-ever allocation for the Department of School Education and Literacy, the government has allotted more than Rs 73,000 crore for school education in the interim Budget for 2024-25 announced on Thursday.

The allocation has increased to Rs 73,008.10 crore from Revised Estimates (RE) of Rs 72,473.80 crore in the previous fiscal. The government had allocated Rs 68,804.85 crore to the department last year.

The budget for PM SHRI, a Ministry of Education (MoE) scheme which seeks to upgrade existing government schools to model schools, has risen from Rs 2,800 crore in 2023-24 (RE) to Rs 6,050 crore in 2024-25 -- an increase of Rs 3,250 crore.

"The government is committed to empower Amrit Peedhi, the Yuva. Our prosperity depends on adequately equipping and empowering the youth. The National Education Policy 2020 is ushering in transformational reforms. PM Schools for Rising India (PM SHRI) are delivering quality teaching, and nurturing holistic and well-rounded individuals," Union Finance Minister Nirmala Sitharaman said while presenting the interim Budget in the Lok Sabha.
Feb 01, 2024 16:44 (IST)
Budget 2024 Live: Nirmala Sitharaman Addresses Media
"In the interim budget, the government showed the plans for July - when the full budget will be presented after the Lok Sabha elections. We showed the sections we'll focus on in July," Finance Minister Nirmala Sitharaman said. 
Feb 01, 2024 16:36 (IST)
Union Budget 2024 Live: Nirmala Sitharaman On Governance
Finance Minister Nirmala Sitharaman said that the government managed the economy with correct intentions, correct policies and correct decisions. "We are the government with care," Ms Sitharaman said.

Feb 01, 2024 16:30 (IST)
Budget 2024 Live: Nirmala Sitharaman On Interim Budget
Finance Minister Nirmala Sitharaman aid the government is well on track to meet the 4.5 per cent fiscal deficit mark for FY26.
Feb 01, 2024 16:28 (IST)
Union Budget 2024 Live: Nirmala Sitharaman On Interim Budget
"High-powered committee to be set up to review challenges arising from fast population growth," says Finance Minister Nirmala Sitharaman. 
Feb 01, 2024 16:23 (IST)
Budget 2024 Live: Nirmala Sitharaman On Fiscal Deficit
"The government brought down fiscal deficit despite challenges, and with transparency and prudence," Nirmala Sitharaman after presenting interim Budget




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