Budget Highlights 2024: Govt to lay white paper on economic performance (2024)

Feb 1, 2024 9:37 PM

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Leaders of several parties of the INDIA opposition bloc would meet here on Friday morning to chalk out their joint strategy during the budget session of Parliament.

Sources on Thursday said the leaders would meet in the chamber of Leader of Opposition in the Rajya Sabha Mallikarjun Kharge at 10.30 am on Friday and discuss their joint strategy. (PTI)

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There was not a word on funds to states in the 2024-25 interim budget, senior TMC leader Derek O'Brien said on Thursday, accusing the central government of "cheating" federalism and committing "financial terrorism" with states.

O'Brien, whose party is in power in West Bengal, also alleged that the government has done little for women and the youth, and is yet to fulfil its promise of doubling farmers' income. (PTI)

Feb 1, 2024 7:33 PM

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Ashish Singhal, Co-founder and Group CEO, PeepalCo says, "Crypto is experiencing a resurgence this year. The markets are showing positive growth, retail activity is increasing, and there is clear regulatory progress happening worldwide. However, due to it being an election year in India, the Interim Budget had limitations that prevented the necessary tax adjustments for the sector.

On a positive note, the Government of India now has the chance to introduce comprehensive crypto regulations and improved tax policies in the upcoming full Budget, with the full support of the electorate. We continue to urge:

i) Allow offsetting and carrying forward losses

ii) Reducing the TDS on VDAs, from 1% to 0.01%

iiI) and treating income from VDAs on par with other capital assets

At a broader level, the Budget is a statement of intent. From Skill India Mission to Startup India to Digital India, the growth engines of the country have been cranked up with special schemes and financial outlay. The corpus of ₹1 lakh crore long-term loans to encourage innovation in sunrise sectors and the renewed commitment to develop deep technologies will be the GDP multipliers for the coming decade."

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The Union government will provide ₹75,000 crore as interest-free loan for 50 years to support reforms by states for realising the vision of 'Viksit Bharat'.

The government has set a vision to make India a developed nation by 2047. (PTI)

Feb 1, 2024 6:20 PM

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Rajesh Magow, Co-founder & Group CEO, MakeMyTrip said, "We acknowledge, with satisfaction, the government's sustained focus on travel and tourism as reaffirmed in the interim budget. The commitment to bolster domestic tourism through initiatives spanning rail and air travel, coupled with the ongoing emphasis on tourism-led destinations, particularly in the realm of island tourism and spiritual tourism, reflects a strategic vision for the long-term growth of the T&T sector.

The allocation of interest-free loans to state governments for the creation of iconic tourist destinations is a noteworthy step. The expansion of airports and the PM Gati Shakti program are pivotal in enhancing connectivity to previously unexplored regional gems. These initiatives will take domestic discovery to farther reaches of the country, thereby empowering local entrepreneurs and creating employment opportunities.

While the specifics are yet to be seen, collaboration between the industry and the government is key to maximizing impact, ensuring quality standards, and fostering sustainable tourism models for an enhanced traveller experience."

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Budget 2024 LIVE::leader Supriya Shrinate said that the government is still in denial mode and is not ready to accept the problems.

"There is nothing in this budget for common people, employment, agriculture, women... Nirmala Sitharaman said that income has increased by 50% but government data says that real income has decreased by 25%."

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Budget 2024 LIVE: Railways minister Ashwini Vaishnaw said that Prime Minister Modi changed the entire strategy for Railways over the last 10 years, and now the focus is being made on investment to modernise the Railways.

“For this year, the budget that has been allocated for the Railways is ₹2.52 lakh crore,” he said at a press conference.

Feb 1, 2024 2:25 PM

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Budget 2024 LIVE: Dr Naresh Trehan said the emphasis on anganwadis, women's health, and vaccination for young girls against cervical cancer are “very important additions to what we have.”

“But more importantly, offering of Ayushman coverage for Anganwadi workers and ASHA workers is a big move. I think that will go down very well and boost the morale of our frontline health workers.”

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Budget 2024 LIVE: Centre to form key panel to address challenges of population growth

The high-powered committee will be mandated to make recommendations for addressing population challenges, said FM Nirmala Sitharaman. Read full story here

Budget 2024 LIVE: Rooftop solarisation, housing for middle class, charging of EVs

Nirmala Sitharaman said that the PM Narendra Modi government overcame challenges and undertook structural reforms. Read the story here

Budget 2024 LIVE: What PM Modi said on Interim Budget

PM Modi on Interim Budget: “The Viksit Bharat Budget benefits every section of the society and lays the foundation for a developed India.”

Budget 2024 LIVE: Chess prodigy Rameshbabu Praggnanandhaa features in Nirmala Sitharaman's Interim Budget speech

Rameshbabu Praggnanandhaa, the 18-year-old Indian chess prodigy, on Thursday found mention in finance minister Nirmala Sitharaman's Interim Budget speech. Read full story here

Budget 2024 LIVE: Lakshadweep, at centre of recent India-Maldives spat, mentioned by FM Sitharaman. What she said

The announcement was hailed, amongst others, by Nishant Pitti, whose travel firm EaseMyTrip suspended flight bookings to Maldives due to the controversy. Read full story here

Budget 2024 LIVE: 3-minute summary of Interim Budget 2024-2025 by FM Nirmala Sitharaman

In case you missed it, read Hindustan Times' 3-minute summary of Interim Budget 2024-2025 by FM Nirmala Sitharaman here

Budget 2024 LIVE: Finance minister Nirmala Sitharaman's reinterpretation of ‘GDP’

Finance minister Nirmala Sitharaman provided a new definition of GDP as she said that the government is focussed in governance, development and performance. Read here

Budget 2024 LIVE: What is ‘Lakhpati Didi’ scheme, mentioned by Finance minister Nirmala Sitharaman?

Prime Minister Narendra Modi had announced the ‘Lakhpati Didi’ scheme to provide skill development training to 20 million women in villages across the country. Read more

Budget 2024 LIVE: 50-year interest-free loans for several sectors announced

Nirmala Sitharaman said her government will adopt economic policies that foster and sustain growth, facilitate inclusive and sustainable development. Read more

Budget 2024 LIVE: Full speech of Nirmala Sitharaman's speech

Union finance minister Nirmala Sitharaman on Thursday presented the interim budget 2024-25 in the Parliament. Read the full speech here

Budget 2024 Speech LIVE: FY24 fiscal deficit revised down to 5.8% of GDP

The FY24 fiscal deficit has been revised down to 5.8 percent of the GDP, Nirmala Sitharaman said.

Budget 2024 Speech LIVE: 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.”

Budget 2024 Speech LIVE: Tourism projects to be taken up in Lakshadweep, FM says

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.

Budget 2024 Speech LIVE: Metro Rail, Namo Bharat to be expanded, FM says

Budget 2024 Speech LIVE: 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.

Budget 2024 Speech LIVE: 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.”

Budget 2024 Speech LIVE: 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.”

Budget 2024 Speech LIVE: Defence outlay to be 3.4% of GDP, says FM

Budget 2024 Speech LIVE: Defence outlay will be 3.4% of GDP, says FM

Budget 2024 Speech LIVE: Nirmala Sitharaman on housing plan for middle class

Budget 2024 Speech LIVE: The Finance minister said, “The government will help housing for the middle class living in rented or slums or unauthorized colonies to build or buy their own houses.”

Budget 2024 Speech LIVE: Nirmala Sitharaman on MSMEs

Budget 2024 Speech LIVE: Nirmala Sitharaman says, “Policy priority is to provide training for MSMEs to compete globally and facilitating their growth will be important. For meeting the investment needs, the government will prepare the financial sector.”

Budget 2024 Speech LIVE: ‘Aim is to sustain growth’, FM Nirmala Sitharaman says

Budget 2024 Speech LIVE: Nirmala Sitharaman said, “Our government will adopt economic policies that will sustain growth and contribute in powering investment and fulfill aspirations. The government will take up next generation reforms and build consensus with the states and stakeholders to ensure effective implementation.”

Budget 2024 Speech LIVE: Nirmala Sitharaman on next five years

Budget 2024 Speech LIVE: 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".

Budget 2024 Speech LIVE: Nirmala Sitharaman on India-Middle East-Europe corridor

Budget 2024 Speech LIVE: Finance minister Nirmala Sitharaman said, “The IndiaMiddle East-Europe trade corridor, announced during the G20 Summit last year, will be a game-changer for India and rest of the world. Our vision for Viksit Bharat is one of prosperity in harmony with nature and providing opportunity to all to reach their potential.”

Budget 2024 Speech LIVE: Nirmala Sitharaman on new world order

Budget 2024 Speech LIVE: ‘Inflation within band’, FM says

Nirmala Sitharaman said that, “Proactive inflation management has helped keep inflation within the band.”

Budget 2024 Speech LIVE: 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.”