Join us in this Interim Budget Day 2024 Live Coverage as we highlight key takeaways, exploring how they impact various economic sectors and our NRIs/OCIs diaspora.
Key Pointers of the Budget 2024
- Interim Budget 2024: This year’s Budget 2024 will be interim since it’s an election year. The current government can’t present a full Budget due to the possibility of a change in leadership during the elections. In election years, interim budgets are the norm.
- Timings: Budget presentation will start at 11 am.
- Presenter: President Droupadi Murmu will officially open the Budget Session by addressing both Houses of Parliament and Finance Minister Nirmala Sitharaman will present the Budget 2024.
Budget Day 2024 Live Coverage
12:09 PM: FM Sitharaman concludes the Budget 2024 speech.
12:02 PM: Tax benefits for startups, investments made by sovereign wealth, and pension funds are to be extended to March 2025
11:57 AM: No proposals to be made on direct or indirect tax rates, says FM
11:54 AM: Tax collections have more than doubled over the last 10 years says FM
11:52 AM: FDI inflows during 2024-2023 are twice the inflows during 2005-14
$596Bn FDI inflow during 2014-23, marking a golden era. Negotiating bilateral investment treaties with foreign partners in spirit of First Developed India (FDI)
11:50 AM: FY24 Fiscal Deficit revised down to 5.8% of GDP
Deficit to be at 5.8% for FY24. Revenue receipts expected higher than budgeted, helped to bring down the deficit
11:48 AM: Development of Iconic Tourist Centers says FM
A comprehensive development of iconic tourist centers and marketing them globally for domestic and international tourism boost.
11:46 AM: Green Energy: To become Net zero by 2070 says FM
Viability gap funding is to be provided for harnessing offshore wind energy for initial capacity of 1GW. Coal gasification and liquification, capacity of 100 MT will be set up by 2030, reducing imports of natural gas, says FM.
11:44 AM: Govt to focus on improving EV manufacturing, charging infrastructure
The government will support the manufacturing and charging infrastructure to expand the EV ecosystem. Accordingly, a new scheme of bio-manufacturing will be launched to harness green growth.
11:42 AM: FM Sitharaman: Roof-top solarisation and Muft Bijli
1Cr households to obtain up to 300 units free electricity every month. Benefits: Savings up to Rs. 15-18k annually to households
11:40 AM: 3 Major Railway Corridors announced by FM
The three railway corridors are
- Port Connectivity Corridor
- Energy, Mineral and Cement Corridor
- High Traffic Density Corridor
11:38 AM: FY25 capex target set at Rs 11.1 lakh crore, up 11.1%
The capex target of FY25 has been set at Rs 11.1 lakh crore, up by 11.1 percent, Sitharaman said.
11:36 AM: Corpus of 1 lakh crores will be established with a 50-year interest-free loan
The corpus will help in providing long-term financing with low or nil interest rates to encourage private sectors to scale up the innovation and Research domains.
11:30 AM: Govt to launch schemes to help citizens living in rented houses, slums, chawls, and unauthorized colonies to help them buy or build their own homes.
11:20 AM: Our prosperity depends on equipping and empowering the youth, says FM
For the welfare of our annadata, every year, under PM Kisan Samman Yojana, direct financial assistance is provided to 11.8 crore farmers. Crop insurance is given to 4 crore farmers under PM Fasal Bima Yojana.
11:15 AM: 34 cr Mudra Yojana loans given to women entrepreneurs by Govt.
11:13 AM: Government working towards making India a Vikashit Bharat by 2047, iterates FM
11:04 AM: Sabka Saath Sabka Vikaas helped the govt overcome challenges says FM.
11:01 AM: FM Nirmala Sitharaman begins the Budget Speech
Have a quick glance:
- NRI Income Tax Slab Rates for FY 2022-23 (AY 2023-24)
- What Interim budget can do to bring money from NRIs back to India
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