Union Budget 2024 Live: FM lists out roadmap to pursue nine priorities for India opportunity
Union Budget 2024 Live Updates: Modi govt’s first major policy announcement, is expected to focus on job creation and boosting consumption, which analysts expect will be positive for sectors such consumer goods, real estate and autos. Stay tuned with Pocketful for real-time coverage, income tax updates, and key highlights.
Budget 2024 Live: Limit of STCG tax hiked to 20%, LTCG raised from 10% to 12.5%
The unexpected – short term capital gains raised to 20% from 15% and long term to 12.5 %,from 10%, increase STT on futures and options, income from buy back to be taxed, short-term negative, will not fundamentally alter the market direction
Budget 2024 Live: Sitharaman’s Budget speech ends
FM Nirmala Sitharaman’s Budget speech spans roughly for 80 minutes.
Budget 2024 Live: Revised tax slabs under new regime
- 0-3 lakh – Nil
- 3-7 lakh – 5%
- 7-10 lakh – 10%
- 12-15 lakh – 20%
Budget 2024 Lie: FM revises tax structure under new tax regime
Under new tax regime, standard deduction hiked to Rs 75,000 from Rs 50,000
Salaried employee will save Rs 17,500 in income tax
Budget 2024 Live: STT on F&O hiked to 0.02% and 0.1%, says FM Sitharaman
Budget 2024 Live: Corporate tax rate on foreign companies reduced to 25%
Budget 2024 Live: Relief for startups! Angel tax abolished, says FM Sitharaman
Budget 2024 Live: Limit of LTCG hiked from 10% to 12.5%
Short term gains on certain financial assets will be 20 percent, rest is applicable tax rate
Long term capital gains will be 12.5 percent
Listed financial assets held for more than a year will be classified as long term
Budget 2024 Live: TDS rate on e-commerce operators to be reduced to 0.1 percent from 1 percent
Budget 2024 Live: Centre to borrow Rs 14.01 lakh crore in FY25, lower than interim Budget estimate
The Centre marginally cut the gross borrowing target from the markets in 2024-25 to Rs 14.01 lakh crore to finance its fiscal deficit of 4.9 percent of the GDP, Finance Minister Nirmala Sitharaman announced on July 23, in a speech presenting the full Budget for 2024-25.
This is Rs 1.4 lakh-crore lower compared to the estimate of Rs 15.43 lakh crore for FY24.
Budget 2024 Live: Comprehensive review of Income Tax Act of 1961 to be completed in six months
Union Budget 2024 Live: FM turned the lens on job creation and employability through a string of means
The finance minister Nirmala Sitharaman has turned the lens on job creation and employability through a string of measures as creating jobs by the millions for years on end for the armies of youth that are joining the queue of hopefuls every year remains a central long run policy challenge in India.
A new internship programme that will allow corporations to employ interns at Rs 5,000 per month for a year for which companies will be able to use corporate social responsibility (CSR) funds. Ten million youth is targeted to be skilled through this over five years.
She also announced the launch of an e-voucher scheme for loans of upto Rs 10 lakhs for higher education in domestic institutions given directly to 1 lakh students every year for annual interest subvention of 3 per cent of the loan amount.
For first timers, a direct benefit transfer of one-month salary in three installments of upto Rs 15,000 to first-time employees registered in EPFO.
For job creation in manufacturing, incentives will be given directly to the employees and the employers as per the EPFO contribution in the first four years of employment.
As a support to employers, reimbursement to employers up to Rs 3,000 per month for two years towards their EPFO contribution for each additional employee.
Union Budget 2024 Live: Fiscal consolidation update
Receipts for FY25 seen at Rs 32.07 lakh crore
Expenditure for FY25 seen at Rs 48.21 lakh crore
Union Budget 2024 Live: Customs duty on critical minerals
FM Exempts customs duties on 25 critical minerals, and lowers BCD for two of them
Union Budget 2024 Live: Good news for phone buyers!
BCD (basic customs duty) of mobile phones, mobile chargers reduced to 15 percent: FM
Union Budget 2024 Live: Fiscal deficit lowered to 4.9% of GDP, market borrowing unchanged at Rs 14.13 lakh crore
Fiscal deficit for FY25 further scaled down to 4.9 from 5.1% in interim Budget: FM Sitharaman
Aim to reach a fiscal deficit of below 4.5% by FY26: FM
Union Budget 2024 Live: Priority 5 in Budget Urban Development
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
Union Budget 2024 Live: Govt’s package for skilling and collaboration
The fourth scheme under the Prime Minister’s package for skilling and collaboration with state governments and Industry
–20 lakh youth will be skilled over a 5 year period
–1000 ITIs will be upgraded in Hub and Spoke arrangements with outcome orientation
–The Model Skill Loan scheme will be revised to facilitate loans up to Rs 7.5 lakh with a guarantee from government promoted fund
–For helping our youth who have not been eligible for any benefit under govt schemes, I am happy to announce a financial support for loans up to Rs 10 lakh in higher education in domestic institutions
Union Budget 2024 Live: Capex budget unchanged a relief
Capex budget at Rs 11.11 lac cr which is unchanged from Interim budget is a relief, but the announcements so far show overt accommodation of coalition partners, that will not go down positively for the markets
Union Budget 2024 Live: Budget announcements to speed up the IBC process is commendable
FM Sitharamanโs Budget announcements to speed up the IBC process is commendable. Government to set up integrated technology system for IBC for better outcomes. Decision to initiate appropriate changes to IBC will augur well for faster asset resolution; creation of additional dedicated tribunals will be an enabler. However, the real change will depend on execution on the ground.
Union Budget 2024 Live: Rs 1,000 crore boost for space economy!
–Space economy expanded 5 times in next 10 years.
–Boost of Rs 1,000 crore for space sector announced.
Union Budget 2024 Live: Financial assistance for Sikkim, Assam, Uttarakhand, HP — states impacted by floods
Will provide assistance to Assam and Himachal Pradesh for flood management, says FM
Union Budget 2024 Live: FM keeps capex at Rs 11.11 lakh crore or 3.4% of GDP
Finance Minister Nirmala Sitharaman on July 23 kept Indiaโs FY25 capex outlay unchanged at Rs 11.11 lakh crore in the first Union Budget of the third Narendra Modi government — the same as was earmarked in February. This is higher than the last yearโs revised estimate of Rs 9.5 lakh crore.
The government will end up spending 3.4 percent of the Budget on capex compared with 3.2 percent in the previous year, and almost double of what it spent five years ago.
The growth in capex has stayed in double digits in six of the last seven years and is likely to slow down from 28.4 percent growth experienced in FY24 and 24.8 percent in the year before.
Union Budget 2024 live: FM’s speech has signature schemes from BJPโs election manifesto
The Finance Ministerโs Budget speech has signature schemes from the BJPโs Lok Sabha election manifesto that was unveiled during the Lok Sabha elections.
For instance, the Budget announces a digital public infrastructure (DPI) for agriculture, a plan the BJP said it will implement after the party forms the government.
The finance minister also announced a comprehensive review of agriculture research for developing climate resilient varieties. This was also promised in the manifesto.
The internship programme for youth announced in the budget also was mentioned in the manifesto where it had talked about launching internship programmes to blend academic and practical skills.
Union Budget 2024 Live: Urban housing outlay of Rs 10 lakh crore announced
Urban housing: Housing needs of 1 crore urban poor and middle class families to be addressed with investment of Rs 10 lakh crore: FM
PM Surya Ghar Muft Bijli Yojana has been launched to install to rooftop solar plans for 1 crore households
Government to set up integrated technology system for IBC for better outcomes
Union Budget 2024 Live: FM announces integrated tech platform to improve IBC outcomes
Voluntary closure of LLPs, C-PACE to be extended to LLPs
The IBC has dissolved more than 1000 companies, resulting in direct recovery of Rs 3.3 lakh cr
Appropriate changes to IBC will be initiated, additional tribunals will be established
Union Budget 2024 Live: FM on DPI applications
Propose of development of DPI applications at population scale in credit, e commerce, law and justice, corporate governance: FM Sitharaman
Union Budget 2024 Live
Rental housing with dorm like accomodation for industrial workers will be facilitated in PPP mode: FM
Union Budget 2024 Live: Jobs budget!
Govt will launch a comprehensive scheme to offer internship in top companies to one crore youth in five years: FM Sitharaman
Union Budget 2024 Live: Equity markets not enthused by Budget so far
Equity markets not enthused by Budget so far, in the first half hour of the Budget. Rural push and measures for rural welfare keep only the Nifty FMCG and Nifty Realty indices in the green so far
Union Budget 2024 Live: Mudra loans to be enhanced to 20 lakh from 10 lakh, says FM Sitharaman
Limit of Mudra loans to extend to Rs 20 lakh from Rs 10 lakh for those who have availed and paid previous loans: FM Sitharaman
Union Budget 2024 Live: FM announces special attention on MSMEs
This budget provides special attention to MSMEs and manufacturing: FM Sitharaman
Credit guarantee scheme for MSMEs in the manufacturing sector
Facilitating term loans for purchase of machinery introduced
Formulated package to finance technology support to MSMEs
Union Budget 2024 Live: 2.66 lakh cr provision for rural development, says FM
Union Budget 2024 Live: FM’s boost for women development
Women-led development More than 3 lakh crore for schemes benefiting women and girls: FM Sitharaman
Union Budget 2024 Live: FM announces Special Financial Support for Andhra Pradesh
-Budget to facilitate 15,000 crore for Andhra with additional amounts in future years
–Govt committed to financing and completion: FM
Union Budget 2024 Live: FM announces new airports, medical facilities and sports infra for Bihar
Budget announces new airports, medical facilities and sports infra for Bihar
Rs 26,000 crore to be allocated to highways in Bihar: FM
Union Budget 2024 live: Three schemes for employment-linked incentives
- One month’s wage for freshers
- Job creation in manufacturing
- Support to employers
Union Budget 2024 Live: FM starts straight on the front foot
โFM starts straight on the front foot, focuses on jobs, skilling, youth, agriculture and poor – all hot button political issuesโ
Union Budget 2024 Live: FM Sitharaman says one-month salary support to enterprises for first time employees
DBT of one month salary to first time employees up to Rs 15,000, eligibility limit Rs 1 lakh per month: FM
210 lakh youth to benefit: FM
Job creation of manufacturing, incentive at specified scale with respect to EPFO contribution. 30 lakh youth entering employment and their employers to benefit: FM
Union Budget 2024 Live: FM on agriculture scheme
Agri research to be transformed to focus on raising productivity and climate resilient varieties: FM Sitharaman
Transforming agri research: Comprehensive review of farm research setup to be undertaken, to developing climate resilient crop varieties
Union Budget 2024 Live: FM lists out roadmap to pursue nine priorities for India opportunity
Detailed roadmap to pursue nine priorities for generating opportunities for India: FM
These are:
- Agri
- Employment
- Inclusive development
- Mfg and Services
- Urban Devp
- Energy
- Infra
- Innovation, R&D
- NexGen reforms
Union Budget 2024 Live: Five schemes to focus on 4.1 crore youth over 5 years with a central outlay of Rs 2 lakh crore, says FM
In this budget, we focus on employment, skilling, MSME, middle class: FM
Five schemes to focus on 4.1 crore youth over 5 years with a central outlay of Rs 2 lakh crore: FM
Union Budget 2024 Live: Indiaโs economic growth continues to be shining exception, says FM
Inflation moving to 4 percent target: FM Nirmala Sitharaman
PMGKAY was extended for five years benefitting more than 80 crore people: FM
Union Budget 2024 Live: Indiaโs economic growth continues to be shining exception, says FM
Inflation moving to 4 percent target: FM Nirmala Sitharaman
PMGKAY was extended for five years benefitting more than 80 crore people: FM
Union Budget 2024 Live: FM Sitharaman rises to present Modi 3.0’s maiden Budget
Modi govt’s first major policy announcement, is expected to focus on job creation and boosting consumption, which analysts expect will be positive for sectors such consumer goods, real estate and autos.
