Sitharaman presents Union Budget 2024: All Updates
Union Finance Minister Nirmala Sitharaman on Tuesday presented her first budget since the Modi government came to power for the historic third straight term after winning the Lok Sabha polls in June. Sitharaman presented her seventh consecutive budget.
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Sitharaman announces new tax regime
23 Jul 2024, 12:37 pmIn new tax regime tax rate structure to be revised as follows: Income from Rs 0 to Rs 3 lakh tax is Nil, from Rs 3lakh to Rs 7 lakh tax at 5 pc, from Rs 7 lakh to Rs 10 lakh at 10 pc, from Rs 10 lakh to 12 lakh at 15 pc, Rs 12 lakh to Rs 15 lakh lakh at 20 pc and above Rs 15 lakh at 30 pc. A salaried person will now save upto Rs 17500 in IT annually as a result.
FM announces Income Tax rates
23 Jul 2024, 12:32 pmFM on Personal Income Tax Rates Under Next Tax Regime: Standard Deduction for salaried employees to be increased from Rs 50k to Rs 75k. Deduction on family pension to be enhanced from Rs 15k to Rs 25k providing relief to about 4 crore pensioners and individuals.
TDS rate on e-commerce operators to be reduced to 0.1 percent from 1 percent: FM
23 Jul 2024, 12:25 pmCapital gains to be simplified: FM
23 Jul 2024, 12:22 pmCapital gains to be simplified. Short term gains on certain financial assets to be taxed at 20 percent. Long term gains on all financial and non financial gains will attract 12.5 percent. Limit of exemption of capital gains on certain assets to be increased to 1.25 lakh per year.
Comprehensive review of Income Tax Act of 1961 in six months to simplify it, announces FM
23 Jul 2024, 12:19 pmReceipts for FY25 estimated at Rs 32.07 lakh crore and Expenditure for FY25 at Rs 48.21 lakh crore: FM
23 Jul 2024, 12:14 pmCustoms duty on gold and silver to be reduced to 6 percent and of platinum to 6.4 percent FM
23 Jul 2024, 12:14 pmFM: Indian mobile industry has matured. Basic Customs Duty (BCD) on mobile phones and charges, etc to be reduced by 15 percent
23 Jul 2024, 12:14 pmFully exempt three more medicines from customs duty for cancer treatment: FM
23 Jul 2024, 12:14 pmTaxonomy for climate finance to enhance the capability of capital for climate commitment and green transition needs: FM
23 Jul 2024, 12:05 pmFinancial sector vision and strategy document in terms of science, capacity and skills to set agenda for next five years: FM
23 Jul 2024, 12:02 pmAssistance for Odisha's tourism announced
23 Jul 2024, 12:02 pmFM announces development of Vishnupad Temple corridor and Mahabodhi temple corridor in Bihar
23 Jul 2024, 12:01 pmFM says, "Comprehensive development of Vishnupad Temple corridor and Mahabodhi temple corridor in Bihar to be supported in the model of Kashi Vishwanath Temple corridor. Development of Rajgir and Nalanda as tourism centres."
Assistance to Sikkim for natural calamity, announces FM
23 Jul 2024, 11:53 amUttarakhand assistance to recover from landslides and cloudburst, announces FM
23 Jul 2024, 11:53 amHimachal Pradesh: Assistance for reconstruction from flood damages, announces FM
23 Jul 2024, 11:53 amAssam flood woes: Assistance to the state for flood management and related projects, announces FM
23 Jul 2024, 11:53 amA critical mineral mission to be set up for domestic production, recycling of critical minerals and overseas acquisition of critical minerals: FM
23 Jul 2024, 11:50 amRental housing with dormitory type accommodation for industrial workers will be facilitated in PPP mode: FM
23 Jul 2024, 11:48 amMudra Loans to be enhanced to 20 lakh from current 10 lakh: FM
23 Jul 2024, 11:42 amBudget focuses on MSMEs: FM
23 Jul 2024, 11:38 amSitharaman says, "Budget focuses on MSMEs: Credit guarantee scheme for MSMEs in manufacturing sector announced. Purchase of machinery and equipment without collateral or third party guarantee."
FM announces Special Financial Support for Andhra Pradesh
23 Jul 2024, 11:33 amFM Sitharaman announced Special Financial Support for Andhra Pradesh ruled by its major ally Telugu Desam Party of Chandrababu Naidu. Budget will facilitate 15,000 crore for Andhra with additional amounts in coming years.
Major announcement on road connectivity in Bihar ruled by NDA ally JD-U
23 Jul 2024, 11:29 amRoad connectivity: Patna Purnea Expressway; Buxar Bhagalpur Expressway; Bodh Gaya, Rajgir, Vaishali and Darbhanga spars and additional tooling bridge over River Ganga at Buxar at total cost of 26,000 crore announced.
Financial aid for higher education loans
23 Jul 2024, 11:29 amFM Sitharaman announces a financial aid for loans upto Rs. 10 lakh for higher education in institutions of the country.
FM announces allocation of Rs. 1.52 lakh cr for agriculture and allies sectors
23 Jul 2024, 11:27 amIndustrial development of eastern region focused in budget
23 Jul 2024, 11:23 amSitharaman announces PM's package of 5 schemes and initiatives
23 Jul 2024, 11:20 am#WATCH | #Budget2024 | 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… pic.twitter.com/E0ooxhs4fy
— ANI (@ANI) July 23, 2024
Modern skill loan schemes will be revised to help 25,000 students ever year: FM
23 Jul 2024, 11:20 amCourse content aligned with skill needs: FM
23 Jul 2024, 11:19 amA new skilling programme announced for 20 lakh youth over 5 years
23 Jul 2024, 11:19 amIndia shining in terms of economic growth: FM
23 Jul 2024, 11:13 amSitharaman 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 percent target..."
India's economic growth continues to be a shining exception
23 Jul 2024, 11:12 amSitharaman lists energy security as one of the nine priorities of the government.
Focus on 4 different castes, poor, women, youth and farmers: FM
23 Jul 2024, 11:12 amSitharaman 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."
Sitharaman presents Budget 2024
23 Jul 2024, 11:09 am#WATCH | Finance Minister Nirmala Sitharaman presents the Union Budget 2024-25 in Lok Sabha. pic.twitter.com/TPWpZqB0O9
— ANI (@ANI) July 23, 2024
Sitharaman arrives in Parliament
23 Jul 2024, 11:01 amUnion Finance Minister @nsitharaman arrives at Parliament to present Union Budget 2024 #ViksitBharatBudget #BudgetSession2024 #BudgetSession #Budget2024
— PIB India (@PIB_India) July 23, 2024
Watch: pic.twitter.com/YQBZqO8WBV
Sitharaman with Budget Team
23 Jul 2024, 11:00 amFM @nsitharaman with the Budget Team outside the Ministry of Finance in North Block. #UnionBudget2024 to be presented at 11 AM.#Budget2024 #UnionBudget #BudgetForViksitBharat @nsitharamanoffc @FinMinIndia @DFS_India @mppchaudhary @PIB_India @DDNewslive @airnewsalerts pic.twitter.com/toQvbeqFhQ
— Ministry of Information and Broadcasting (@MIB_India) July 23, 2024
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