Union Budget 2024 Live Updates

Finance Minister Nirmala Sitharman is presenting the Interim Budget 2024 today, the last one before the Lok Sabha elections. The budget is expected to focus on infrastructure, income tax, and job creation amid the challenges posed by the Covid-19 pandemic and the economic slowdown. Sitharaman will also highlight the achievements of the government in the past decade and outline its vision for the future. Follow our Budget 2024 key highlights, live updates, and analysis of the budget!

Budget 2024 Live: Finance Minister Nirmala Sitharaman arrives at Parliament

Feb 1, 2024 11:00 AM (IST)

Sitharaman is at Parliament to present her sixth budget, which is an interim one, as the country will go to polls soon. State Minister Pankaj Chaudhary, Dr. Bhagwat Karad, and her entourage of officials are with her. The Interim Budget 2024 Live Updates begin with her carrying a traditional ‘bahi-khata’ wrapped in red cloth.

Source:Indianexpress.com

Feb 1, 2024 11:10 AM (IST)

Budget 2024 Live: ‘Sabka Sath, Sabka Vikas’ says Sitharaman

Sitharaman begins her budget speech by highlighting the achievements of the Modi government in the past 10 years, such as GST implementation, the digital India initiative, the Swachh Bharat Mission, the Ayushman Bharat scheme, the Ujjwala Yojana, and the Make in India campaign. She says the government has delivered on its promise of ‘sabka saath, sabka vikas, sabka vishwas.’ 

Feb 1, 2024 11:15 AM (IST)

Budget 2024 Live: FM Highlights Modi Government’s Achievements in Poverty Reduction

In her speech, the Ministry of Finance Budget 2024 aims to build the foundation laid in the previous budget and the blueprint drawn for India@100.  As one of the ​​Budget 2024 key highlights she mentioned the achievements of the Modi government in reducing poverty and improving the living standards of the poor. She said that more than 13.5 crore Indians exited multidimensional poverty in five years under the Modi government.

Feb 1, 2024 11:26 AM (IST)

Budget 2024 Live: Sitharaman Announces The Fiscal Deficit Target

The fiscal deficit target for the current fiscal year ending March 2024 is 5.8 percent of GDP, lower than the 6.4 percent in the last fiscal. She says the government has managed to contain the fiscal slippage despite the challenges posed by the Covid 19 pandemic and subsequent lockdowns. She adds the government is committed to the fiscal consolidation path and aims to  bring down the fiscal deficit to 4.5 percent of GDP by 2025-26.

Feb 1, 2024 11:38 AM (IST)

Budget 2024 Live: Union Finance Minister on Capital Expenditure

Sitharaman unveils the government’s planned capital expenditure for the next fiscal year starting April 2024 at Rs.11.11 lakh crore, higher than Rs. 10 lakh crore in the current fiscal. She says that the government has been pushing the infrastructure creation and also incentivising states to step up capex. She announces a slew of projects in the sectors of roads, railways, ports, airports, power, urban development, and agriculture.

Feb 1, 2024 11:49 AM (IST)

Budget 2024 Live: Sitharaman Reveals The Government’s Tax Revenue Projections

The government’s tax revenue projections for the next fiscal year is at Rs. 36 lakh crore, higher than Rs. 33.61 lakh crore in the current fiscal. The Income Tax Slabs 2024-25 live updates include the government’s tax revenues, which are expected to overshoot the budget estimates on buoyant collections in GST and income and corporate tax. She says the government has simplified the tax administration and budget 2024 impact on tax & salary.

Feb 1, 2024 12:00 PM (IST)

Budget 2024 Live: FM on FDI

Sitharaman reveals that the Foreign Direct Investment during the financial year 14-23 was US 596 billion. She said that FDI can now be defined as “First Develop India”. She further stated that the government will work towards bilateral trade treaties.

Feb 1, 2024 12:14 PM (IST)

Budget 2024 Live: Finance Minister Nirmala Sitharaman Completes her Budget Presentation

Sitharaman concludes her budget speech by thanking the people of India for their resilience and support during difficult times. She says the government is confident of achieving the vision of making India a developed nation by 2047, the 100th year of independence. She says the budget is a reflection of the government’s commitment to the welfare and development of all sections of society. She ends her speech with the slogan ‘Jai Hind’

Budget 2024: The Upcoming Fiscal Year

Prominently focused on social welfare, infrastructure development, and fiscal consolidation, Finance Minister Nirmala Sitharaman’s interim budget for 2024 has been praised for its balance and caution. While the budget does not offer any major tax relief or populist schemes, it aims to boost the economic growth and recovery of India, which is poised to become the third-largest economy in the world by 2030.