Union Budget 2024-25 HIGHLIGHTS| Budget focuses to foster economic resilience, technological advancement & sustainable growth

Jul 23, 2024 04:08 PM

Union Budget 2024-25- Boosting Economy, Tech, and Growth

This budget, with its detailed allocations and revenue plans, underscores the government's strategy to foster economic resilience, technological advancement, and sustainable growth.

Jul 23, 2024 04:07 PM

'Empowerment of new middle class': PM Modi addresses nation after Union Budget 2024 announcement

Prime Minister Narendra Modi addressed the nation after Finance Minister Nirmala Sitharaman presented the Union Budget 2024, saying "This budget is for the empowerment of the new middle class."

 "In the last ten years, 25 crore people have come out from poverty. This budget aims to strengthen the new middle class. This budget will provide infinite opportunities for the youth. It will bring education and skills to a new level. This budget will empower the new middle class."

"This budget will benefit women, small businessmen, and MSMEs," the Prime Minister stated.

Jul 23, 2024 04:06 PM

A detailed map of the funds allocation to major schemes

• The Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) sees an increase from Rs 60,000 crore in FY23-24 to Rs 86,000 crore in FY24-25, aimed at enhancing rural employment.
• Nuclear power projects receive a boost from Rs 442 crore to Rs 2,228 crore, while the development of semiconductors sees a substantial increase from Rs 3,000 crore to Rs 6,900 crore, underscoring the push towards technological advancement.
• Direct Benefit Transfer for LPG is allocated Rs 1,500 crore, up from Rs 180 crore, to support energy access. Solar power allocation doubles from Rs 4,970 crore to Rs 10,000 crore, reflecting the government's commitment to renewable energy.

Jul 23, 2024 04:06 PM

A detailed map of the funds allocation to key sectors

Jul 23, 2024 01:03 PM

What gets costlier?

➤Govt increases basic customs duty to 15% from 10% on specified telecom equipment.

➤Custom duty hiked on plastic products.

Jul 23, 2024 01:02 PM

Union Budget 2024-25: Key Highlights

* Income-tax slab rates changed for the lower slabs, for the new simplified income tax regime

*Standard deduction, for taxpayers opting for the new tax regime, at Rs 75,000, up from Rs 50,000 earlier

* NPS Vaatsalya for minor children announced in Budget 2024. Where parents can invest on behalf of their kids. Upon attaining majority, this can be converted to regular NPS

* Deduction on employers’ contribution to private sector employees’ NPS has been hiked to 14%, up from 10% earlier. Only for the new income-tax regime.

* Changes in capital gains tax regime. Long-term capital gains rate hiked to 12.5%, up from 10%

* Long-term capital gains income up to Rs 1.25 lakh exempt from tax

* Holding period of capital gains tax streamlined: All listed financial assets held for more than a year: long-term. All unlisted financial and non-financial asserts held for more than 2 years: long-term.

Jul 23, 2024 12:51 PM

New tax regime stands to save up to Rs 17,500

As a result of these changes, a salaried employee in the new tax regime stands to save up to Rs 17,500

Jul 23, 2024 12:48 PM

Sensex continues to see red

Sensex continues to see red; currently trading at 79,845.67, down by 656.41 points

Jul 23, 2024 12:32 PM

Standard deduction for salaried employees to be increased from Rs 50,000 to Rs 75,000

Jul 23, 2024 12:30 PM

FM announces changes in new tax regime

Slabs in New Tax Regime 

0-3 Lakh - Nil 

3-7 Lakh - 5%

7-10 Lakh - 10%

10-12 Lakh- 15%

12-15 Lakh- 20%

Above 15 lac - 30%

Jul 23, 2024 12:20 PM

Union Budget 2024-25: What is Cheaper?

• Gold 
• Silver
• Electronic Items
• Mobile phones
• Mobile chargers
• Lithium Batteries
• Electronic Vehicles 

Jul 23, 2024 12:17 PM

Union Budget 2024-25: Budget Speech

During her Budget speech, FM Sitharaman says, "I announce a comprehensive review of the Income Tax Act 1961. This will reduce disputes and litigation. It is proposed to be completed in 6 months."

Jul 23, 2024 12:15 PM

Customs duties Nirmala Sitharaman reduced on gold and silver

Finance Minister propose to reduce customs duties on gold and silver to 6% and 6.5% on platinum

Jul 23, 2024 12:14 PM

Nirmala Sitharaman exempts duties on 25 critical minerals

FM exempts customs duties on 25 critical minerals, and lowers BCD for two of them

Jul 23, 2024 12:11 PM

Nirmala Sitharaman says to exempt three more medicines for cancer treatment from customs duty

Jul 23, 2024 12:10 PM

Budget Reduces BCD on mobile phones and chargers to 50%

Union government reduces BCD on mobile phones and chargers to 50%. 

Jul 23, 2024 12:09 PM

Budget 2024- Key Highlights

* Urban Housing: Urban 2.0. one crore houses for urban poor, allocation of ten lakh crore rupees.

* Enabling policies and regulations for transparent renting house markets

*Services for 100 large cities for urban development

* Street Markets: Svanidhi has transformed lives of street vendors. Support for urban haats

* Stamp Duty: Encourage states to charge high stamp duty to moderate the rates for all. Slashing of duties for women

Jul 23, 2024 12:08 PM

Union Budget 2024-25: Capital expenditure & Fiscal deficit

Capital expenditure to be Rs 11,11 lakh crore at 3.4% of our GDP

Fiscal deficit 2024-25 is estimated at 4.9% of GDP

Jul 23, 2024 12:02 PM

Union Budget 2024-25: Tourism Budget

Union Finance Minister Nirmala Sitharaman says "Tourism has always been a part of our civilisation. Our efforts to position India as a global destination will also create jobs and unlock opportunities in other sectors. I propose Vishnupath temple at Gaya, and Mahabodhi temple in Bodhgaya are of immense spiritual importance. We will develop corridors there on the model of the successful Kashi Vishwanath corridor to make them a world-class tourist destination. A comprehensive development initiative for Rajgir and Nalanda, in Bihar will be pursued. We will support tourism in Odisha that has scenic beauty, temples, craftsmanship, natural landscapes, wildlife sanctuaries and pristine beaches."

Jul 23, 2024 11:57 AM

Budget - Infrastructure

Over 11 lakh crore rupees for capital expenditure have been allocated for infrastructure development

Jul 23, 2024 11:46 AM

Budget 2024 - Education Sector

Finance Minister Nirmala Sitharaman says, "Working women hostels will be set up. Higher participation of women in workforce to be promoted through hostels and creches...Our government will bring National Cooperation Policy for overall development. Our government will provide financial support for loans upto 10 lakhs for higher education in domestic institutions"

Jul 23, 2024 11:44 AM

Bihar and Andhra Pradesh shine in Nirmala Sitharaman's Budget; focus on jobs and skilling

Jul 23, 2024 11:44 AM

FM announces big bonanza for Bihar, Andhra Pradesh

• Centre proposes Rs 26,000 crore for various road projects in Bihar.
• Says 'On Amritsar-Kolkata industrial corridor, we will support development of industrial node at Gaya in Bihar'
• To support development of Patna-Purnea expressway, Buxar- Bhagalpur highway, Bodhgaya- Rajgir-Vaishali- Darbhanga and two-lane bridge over river Ganga in Buxar for Rs 26,000 crore

Jul 23, 2024 11:43 AM

Nine Priority Areas

Agriculture, employment, inclusive HRD and social justice, manufacturing and services, urban development, energy, innovation and R&D and next-generation reforms

Jul 23, 2024 11:42 AM

Internship in 500 top companies to be encouraged

Internship allowance of ₹ 5000 and one-time assistance of ₹ 6,000 to be provided under internship scheme, says Nirmala Sitharaman

Jul 23, 2024 11:39 AM

TMC MP Shatrughan Sinha says, "... Youth, women, farmers, unemployment, and inflation are the major issues."

Jul 23, 2024 11:32 AM

More than 3 lakh crore for schemes benefiting women and girls: FM Sitharaman

Jul 23, 2024 11:31 AM

1 month wage to all persons newly entering the workplace in all formal sectors

Finance Minister Nirmala Sitharaman says, "...One month wage to all persons newly entering the workplace in all formal sectors. Direct Benefit Transfer of one month salary in 3 instalments to first-time employees as registered in the EPFO will be up to Rs 15,000. The eligibility limit will be a salary of Rs 1 lakh per month. The scheme will benefit 210 lakh youth."

Jul 23, 2024 11:30 AM

Three schemes for employment-linked incentives

A: One month's wage for freshers

B: Job creation in manufacturing

C: Support to employers

Jul 23, 2024 11:30 AM

Budget announces new airports, medical facilities and sports infra for Bihar

Jul 23, 2024 11:26 AM

Budget 2024- Education loan

On Education loans, FM Sitharaman says, "Govt to provide financial support for loans up to Rs 10 lakhs for higher education in domestic institutions."

Jul 23, 2024 11:22 AM

Focus on THESE Priorities

• Productivity and resilience in agriculture
• Employment and skilling
• Improved human resources, social justice
• Manufacturing and services
• Urban development
• Energy security
• Infrastructure
• Innovation, research and development

Jul 23, 2024 11:21 AM

3 schemes for employment-linked incentives as part of the Prime Minister's package

Finance Minister Nirmala Sitharaman says, "Our govt will implement three schemes for employment-linked incentives as part of the Prime Minister's package. These will be based on enrollment in the EPFO and focus on recognition of the first time employees and support to employees and employers. "

Jul 23, 2024 11:20 AM

Allocation for agriculture and allied sectors is Rs 1.52 lakh crore

Finance Minister Nirmala Sitharaman says, "This year the allocation for agriculture and allied sectors is Rs 1.52 lakh crore."

Jul 23, 2024 11:16 AM

Finance Minister Nirmala Sitharaman announces Rs 1.48 lakh crores for education, employment and skilling

Finance Minister Nirmala Sitharaman says, "I am happy to announce the Prime Minister's package of 5 schemes and initiatives to facilitate employment, skilling and other opportunities for 4.1 crore youth over 5 years with a central outlay of Rs 2 lakh crores. This year we have made a provision of Rs 1.48 lakh crores for education, employment and skilling..."

Jul 23, 2024 11:13 AM

"India's economic growth continues to be the shining exception"

Finance Minister Nirmala Sitharaman says, "India's economic growth continues to be the shining exception and will remain so in years ahead. India's inflation continues to be low and stable moving towards the 4% target..."

Jul 23, 2024 11:10 AM

Union Budget 2024-25 focuses on poor, women, youth and the farmer

Union Finance Minister Nirmala Sitharaman says "As mentioned in the interim Budget, we need to focus on 4 different castes, the poor, women, youth and the farmer.

For farmers, we announced higher Minimum Support Prices for all major crops delivering on the promise for at least a 50% margin over cost. PM Garib Kalyan Anna Yojana was extended for 5 years benefitting more than 80 crore people."

Jul 23, 2024 11:05 AM

WATCH LIVE| Finance Minister Nirmala Sitharaman presents the Union Budget 2024-25 in Lok Sabha

Jul 23, 2024 10:52 AM

Nirmala Sitharaman set to surpass Morarji Desai’s record for most budget presentations

 On Tuesday, when Union Finance Minister Nirmala Sitharaman presents her seventh budget to Parliament, she will break the record held by former Finance Minister Morarji Desai, who only presented six budgets. Under Prime Ministers Jawaharlal Nehru and Indira Gandhi, Desai served as Minister of Finance. In 1977, he was elected Prime Minister of India.

Jul 23, 2024 10:47 AM

Rahul Gandhi reaches Parliament

Congress MP and LoP in Lok Sabha, Rahul Gandhi reaches Parliament ahead of Union Budget presentation by Finance Minister Nirmala Sitharaman in Lok Sabha

Jul 23, 2024 10:40 AM

WATCH VISUALS| PM Modi reaches Parliament

PM Modi in Parliament, ahead of the presentation of Union budget by Finance Minister Nirmala Sitharaman

Jul 23, 2024 10:30 AM

WATCH VIDEO: Finance Minister Nirmala Sitharaman all set to present Budget at 11 am

Jul 23, 2024 10:29 AM

President Murmu offers 'Dahi-Cheeni' to the Finance Minister

Jul 23, 2024 10:27 AM

SEE VISUALS| Nirmala Sitharaman poses ahead of Budget presentation

Jul 23, 2024 10:22 AM

Union Cabinet headed by PM Modi meets in Parliament to approve the Union Budget ahead of its presentation by Finance Minister Nirmala Sitharaman.

Jul 23, 2024 10:13 AM

Defence Minister Rajnath Singh arrives at the Parliament

Jul 23, 2024 10:08 AM

Union Home Minsiter Amit Shah arrives in Parliament

Jul 23, 2024 10:04 AM

Key Focus Areas for Union Budget 2024-25

Finance Minister Nirmala Sitharaman is expected to prioritise agriculture, capital expenditure, infrastructure spending, and a manufacturing push in the Union Budget 2024-25

Jul 23, 2024 09:59 AM

One hour to go!!

Finance Minister Nirmala Sitharaman carrying the Budget tablet arrives at Parliament along with her team, to present the first Budget in the third term of Modi Government

Jul 23, 2024 09:54 AM

WATCH| Nirmala Sitharaman meets Droupadi Murmu

Finance Minister Nirmala Sitharaman meets President Droupadi Murmu at Rashtrapati Bhavan, ahead of the Budget presentation at 11am in Parliament

Jul 23, 2024 09:47 AM

Budget copies arrive in Parliament

Union Finance Minister Nirmala Sitharaman will present the estimated receipts and expenditure (2024-25) of the Union Territory of Jammu and Kashmir (with legislature) in Parliament today

Jul 23, 2024 09:44 AM

Nirmala Sitharaman's new lookfor Budget 2024-25

Union Finance Minister Nirmala Sitharaman wears a magenta and cream saree, contrasting her previous appearance in a blue saree with leaf prints

Jul 23, 2024 09:38 AM

WATCH VISUALS: Nirmala Sitharaman poses along with her team

Finance Minister Nirmala Sitharaman poses along with her team with the Budget tablet outside the Ministry of Finance in North Block

Jul 23, 2024 09:37 AM

WATCH LIVE: Union Budget 2024-25

Jul 23, 2024 09:31 AM

Union Budget 2024-25 LIVE UPDATES| Focus on 'Viksit Bharat' Today

Budget 2024 LIVE Updates: Nilaya Varma, Co-Founder and CEO of Primus Partners, commented, “After a long time, expectations from this budget are exceptionally high. Balancing the needs and aspirations of 1.4 billion people is never easy.
However, we have a Finance Minister with seven years of experience who is capable of delivering. Beyond measures to boost short-term consumption and adjustments to duties, there will be a keen interest in specific initiatives and investment in capital projects, encouragement for private investments, revival of manufacturing to address job demands from the farm sector, and fiscal discipline to achieve the 'Viksit Bharat' goals.”

Jul 23, 2024 09:19 AM

Union Budget 2024-25 LIVE UPDATES| ‘Modi stocks’ face investor caution ahead of budget

Budget 2024 LIVE Updates: The 'Modi Stocks'—a term coined by CLSA for companies benefiting from Prime Minister Narendra Modi’s policies—are under scrutiny as today’s budget approaches.

An index compiled by Bloomberg News, tracking these stocks, has fallen about 0.4% this month following eight months of gains, despite modest increases in the broader market.

Investors are cautious about these companies, which include power generators, capital goods manufacturers, and building materials firms. They are closely watching the budget for trends in capital expenditure and sector-specific initiatives.

Jul 23, 2024 09:03 AM

Union Budget 2024-25 LIVE UPDATES| What Nirmala Sitharaman's Budget Might Hold for the Salaried Class

Budget 2024 LIVE Updates: Moody's Analytics indicates that the Budget may include favorable provisions for India's middle class.

Jul 23, 2024 09:02 AM

Union Budget 2024-25 LIVE UPDATES| Economic Survey's Insights on Capital Markets

Budget 2024 LIVE Updates: The Economic Survey highlighted the growing importance of capital markets in India's economic growth. It commended the stock markets for their resilience in the face of global geopolitical and economic challenges.

Jul 23, 2024 09:01 AM

Union Budget 2024-25 LIVE UPDATES| Budget's Potential Impact on the Rupee Today

Budget 2024 LIVE Updates: The rupee is expected to open flat, following its previous session close of 83.6575. During that session, it had dropped to an all-time low of 83.6775.

Jul 23, 2024 08:49 AM

Union Budget 2024-25 LIVE UPDATES| Stay tuned for the full coverage with PTC News

Jul 23, 2024 08:47 AM

Union Budget 2024-25 LIVE UPDATES| Nirmala Sitharaman leaves her residence

Nirmala Sitharaman, the Union Finance Minister, departed her home before today's Budget 2024–25 announcement.

Jul 23, 2024 08:39 AM

Union Budget 2024-25 LIVE UPDATES| Visuals from Ministry of Finance ahead of Budget presentation

Jul 23, 2024 08:24 AM

Union Budget 2024-25 LIVE UPDATES| Why Citi Expects Nirmala Sitharaman to Increase Funding for Rural Schemes

Budget 2024 Live Updates: Citi predicts that the government will allocate more funds to rural schemes to boost consumption. This increase is expected to benefit consumer goods manufacturers like Hindustan Unilever and two-wheeler producers such as TVS Motor and Hero MotoCorp, according to Citi.

Jul 23, 2024 08:22 AM

Union Budget 2024-25 LIVE UPDATES| What Economic Survey said on Railways?

Budget 2024 Live Updates: The Economic Survey highlighted a 77% increase in capital expenditure on Railways over the past five years. Expenditure rose from Rs 1.48 lakh crore in the 2019-20 fiscal year to Rs 2.62 lakh crore in 2023-24, according to the Survey.

Jul 23, 2024 08:21 AM

Union Budget 2024-25 LIVE UPDATES| How stock market may open ahead of the Budget?

Budget 2024 Live Updates: Indian shares are expected to open relatively unchanged today ahead of the Budget. The GIFT Nifty stood at 24,550 points as of 7:19 am, indicating that the NSE Nifty 50 will likely open near its Monday close of 24,509.25.