Budget 2024 Live : In her record-setting 7th Union Budget, Nirmala Sitharaman unveiled significant employment schemes and is anticipated to raise basic exemption limits under both the old and new tax regimes, offering substantial relief to the middle class.
Finance Minister Nirmala Sitharaman is delivering her seventh consecutive Budget in Parliament today, Tuesday, July 23. The 2024-25 Budget is being seen as the action plan for the Modi 3.0 government, outlining a roadmap for India’s development over the next five years.
In her record-setting seventh Union Budget, Sitharaman has announced key employment schemes and is expected to increase the basic exemption limits under both the old and new tax regimes, providing significant relief to the middle class.
Prime Minister Narendra Modi expressed confidence yesterday that the Finance Minister would present a robust budget, assuring that the government’s promises would benefit the common man. On the first day of the Monsoon Session of Parliament, Sitharaman also tabled the Economic Survey.
Stay tuned to our live blog for all the latest updates and developments on Union Budget 2024.
Updates on Union Budget 2024 Live:
12:23 PM (IST):
Nirmala Sitharaman announces changes to the new income tax regime slab rates:
- 0-3 lakh: Nil
- 3-7 lakh: 5%
- 7-10 lakh: 10%
- 10-12 lakh: 15%
- 12-15 lakh: 20%
- Above 15 lakh: 30%
12:21 PM (IST):
Angel tax will be abolished for all classes of investors, according to Nirmala Sitharaman.
12:20 PM (IST):
Unlisted bonds, debentures, debt mutual funds, and market-linked debentures will be taxed at slab rates, announces Nirmala Sitharaman.
12:20 PM (IST):
Short-term gains on certain financial assets will be taxed at 20%, says Nirmala Sitharaman.
12:16 PM (IST):
Nirmala Sitharaman announces the merger of two tax exemption regimes for charities into a single regime.
12:12 PM (IST):
The government will reduce customs duty on gold and silver to 6%, and on platinum to 6.4%, says Nirmala Sitharaman.
12:09 PM (IST):
Three additional medicines for cancer treatment will be exempt from customs duty, announces Nirmala Sitharaman.
12:08 PM (IST):
Nirmala Sitharaman outlines plans to simplify and rationalize the GST structure to facilitate ease of business.
12:03 PM (IST):
The government will integrate the e-Shram portal with other platforms to enhance its functionality, says Nirmala Sitharaman.
12:01 PM (IST):
A venture capital fund of ₹1,000 crore will be established to promote the development of space technology, announces Nirmala Sitharaman.
11:54 AM (IST):
Nirmala Sitharaman announces support for the comprehensive development of the Vishnupad Temple Corridor and Mahabodhi Temple Corridor.
11:50 AM (IST):
Assistance for flood management and irrigation projects in Assam will be provided, says Nirmala Sitharaman.
11:47 AM (IST):
FY25 allocation for CAPEX set at ₹11.11 lakh crore, according to Nirmala Sitharaman.
11:45 AM (IST):
PM Surya Ghar Muft Bijli scheme launched to install rooftop solar panels for 1 crore households, announces Nirmala Sitharaman.
11:43 AM (IST):
Government will launch a scheme to develop 100 street food hubs in select cities over five years, says Nirmala Sitharaman.
11:39 AM (IST):
Transit-oriented development programs for 14 large cities with populations over 30 lakh will be formulated, according to Nirmala Sitharaman.
11:37 AM (IST):
Rental housing with dormitory-style accommodation for industrial workers to be facilitated through PPP mode with VGF support, says Nirmala Sitharaman.
11:35 AM (IST):
Internships in 500 top companies to be encouraged, with an internship allowance of ₹5,000 and a one-time assistance of ₹6,000, announces Nirmala Sitharaman.
11:33 AM (IST):
Mudra loan limit to be increased to ₹20 lakh from ₹10 lakh, says Nirmala Sitharaman.
11:32 AM (IST):
Credit guarantee scheme for MSMEs in manufacturing to be introduced, announces Nirmala Sitharaman.
11:28 AM (IST):
₹15,000 crore allocated for Andhra Pradesh in FY25 for the development of its capital, says Nirmala Sitharaman.
11:27 AM (IST):
Four expressway and bridge projects worth ₹26,000 crore to be undertaken in Bihar, announces Nirmala Sitharaman.
11:24 AM (IST):
Model skill loan scheme to be revised to facilitate loans up to ₹7.5 lakh with government-backed guarantees, says Nirmala Sitharaman.
11:21 AM (IST):
Incentives will be provided to both employees and employers in the first four years of employment, says Nirmala Sitharaman.
11:17 AM (IST):
A scheme to provide one month’s wage to all people newly entering the workforce in all sectors will be introduced, according to Nirmala Sitharaman.
11:14 AM (IST):
1 crore farmers to be initiated into natural farming over the next two years, announces Nirmala Sitharaman.
11:10 AM (IST):
Budget priorities include productivity and resilience in agriculture, employment and skilling, human resources and social justice, manufacturing and services, urban development, energy security, infrastructure, innovation, research and development, and next-generation reforms.
11:08 AM (IST):
Inflation in India remains low and stable, moving towards the 4% target, says Nirmala Sitharaman.
11:06 AM (IST):
The Budget focuses on employment, skilling, MSMEs, and the middle class, announces Nirmala Sitharaman.
11:04 AM (IST):
India’s economic growth continues to shine and is expected to remain strong in the coming years, says Nirmala Sitharaman.
11:02 AM (IST):
Finance Minister Nirmala Sitharaman is presenting her seventh consecutive Budget in Parliament.
10:51 AM (IST):
The Lok Sabha has convened as Nirmala Sitharaman is about to present the Budget.
10:46 AM (IST):
The Cabinet, chaired by Prime Minister Narendra Modi, has approved the Union Budget 2024.
10:32 AM (IST):
Copies of the Budget have been brought to Parliament. Finance Minister Nirmala Sitharaman will present the Budget at 11 AM.
10:25 AM (IST):
Sensex and Nifty have given up their early gains and are trading in negative territory ahead of the Budget.
10:10 AM (IST):
A Cabinet meeting is underway to approve the Union Budget, chaired by PM Modi and attended by Amit Shah and Rajnath Singh.
10:05 AM (IST):
Finance Minister Nirmala Sitharaman has arrived at Parliament after meeting President Droupadi Murmu. She will present the Union Budget 2024 at 11 AM.
10:00 AM (IST):
Finance Minister Nirmala Sitharaman met with President Droupadi Murmu ahead of the Budget presentation. President Murmu offered ‘Dahi-Cheeni’ to the Finance Minister.
Usually I do not read article on blogs however I would like to say that this writeup very compelled me to take a look at and do so Your writing taste has been amazed me Thanks quite nice post