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Union Budget 2024 LIVE Updates: How did the politicians react?

The Union Budget 2024, which is expected to Capital expenditure to be Rs 11,11 lakh crore at 3.4% of our GDPemphasize adjustments to the income tax system and enhancing the ease of doing business in India, will be presented in Parliament today by Finance Minister Nirmala Sitharaman. This will be her seventh consecutive budget and will surpass the record held by the late Moraji Desai, who presented six consecutive budgets.

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Edited By: Mayank Kasyap
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The Union Budget 2024, which is expected to emphasize adjustments to the income tax system and enhancing the ease of doing business in India, will be presented in Parliament today by Finance Minister Nirmala Sitharaman. This will be her seventh consecutive budget and will surpass the record held by the late Moraji Desai, who presented six consecutive budgets.

The much awaited comprehensive budget for 2024–25, the first under the Modi 3.0 government, will be unveiled on the Parliament floor today at 11 a.m.

The finance minister's big statements and the government's prognostications regarding the state of the economy as a whole will be the focus of attention for everyone.

WATCH Live Here: 

 

23 July 2024, 04:12 PM IST

Caters to needs of all sections: BJP MP Ravi Kishan

BJP MP Ravi Kishan says, "... This budget has catered to the needs of all sections of the society and all sectors of the economy... Bihar has been blessed..."

23 July 2024, 04:05 PM IST

Modi's govt is based on 'double lies' instead of 'double engine': Jitu Patwari

Madhya Pradesh Congress president Jitendra (Jitu) Patwari says, "The history of the Modi government shows that it came to power with the promise of 2 crore jobs... Narendra Modi's government is of 'double lies' instead of 'double engine'..."

23 July 2024, 03:46 PM IST

Budget with four pillars - women, youth, farmers, poor: Union Minister Giriraj Singh

Union Minister Giriraj Singh says, "This budget is a balanced one, having four pillars- women, youth, farmers, and poor. 'Bihar mei bahaar hai, NDA ki sarkaar hai'. Bihar has been given a super-package."

23 July 2024, 03:44 PM IST

Dream budget for all: Union Minister Kiren Rijiju

Union Minister Kiren Rijiju says, "... This is a dream budget for all sections especially for youth and women... Capital expenditure of more than Rs 11 lakh crore has been allocated... Announcements for Bihar, Jharkhand, West Bengal, Odisha, Andhra Pradesh, and North-East will give a boost to the economy of Eastern India... Announcements for skilling and employment generation are historic... Support schemes for women are appreciated... Banking services in the northeast have been taken care of. Financial mainstreaming of the northeast will be done... PM Modi's dream of Viksit Bharat by 2047 is clearly reflected in the budget... If the opposition has criticised the budget means it is a very good budget... All sectors have been covered and it is a growth-oriented budget... You can see the tax rebates for the middle class... Bihar's floods are not limited to Bihar, they are an issue of the country... Why is the opposition rattled at the grants given to Andhra Pradesh."

 

23 July 2024, 03:43 PM IST

Reduction on medicine prices is great: TMC MP Shatrughan Sinha

TMC MP Shatrughan Sinha says, "...The relief that has been given on the medicines of cancer or other life-saving drugs is praiseworthy, it's a fact. What has been given to Bihar, as a resident it felt good, but you have to pay for it, but it was good. Bihar needed that, and it was in demand as well. You have given for Andhra Pradesh as well, which was expected, but what have you done for Telangana, Punjab and West Bengal?"

 

23 July 2024, 03:37 PM IST

I would give 10/10 to this Budget: NSE CEO Ashish Chauhan

Ashish Chauhan, CEO of NSE and ex-CEO of BSE says, "I would give 10/10 to this Budget. It is a very focused Budget for employment generation and with a focus on infrastructure development..."

23 July 2024, 03:31 PM IST

Stressing on job creation, employment generation, private sector: MoS Civil Aviation Kinjarapu Naidu

MoS Civil Aviation Kinjarapu Rammohan Naidu says "The Govt has done the work of giving strength to the common people of the country. Stress has been given to job creation, employment generation, the private sector, and FDI. I want to thank PM Modi who had promised to take care of Andhra Pradesh and in the budget he has done that. In the last 5 years, Andhra Pradesh became a no-capital state. The people and farmers of the state want to thank PM Modi for providing a package of Rs 15,000 crore and to complete the Polavaram project which is the lifeline of Andhra Pradesh..."

23 July 2024, 03:28 PM IST

Brings in scheme, does not pursues it: Samajwadi Party MP Dimple Yadav

Samajwadi Party MP Dimple Yadav says, "... This government brings in schemes but does not pursue them... The main concern regarding women is their safety and this issue has not been addressed... The government does not want to take any steps to control inflation. Purchasing power in rural areas is constantly reducing..."

23 July 2024, 03:25 PM IST

People will not benefit until: SP chief Akhilesh Yadav

Samajwadi Party chief Akhilesh Yadav says, "Till the farmers' issues are resolved and employment is ensured for the youth, the people will not benefit..."

23 July 2024, 03:22 PM IST

More or les occupied Cong manifesto: MP Manickam Tagore

Congress MP Manickam Tagore says, "This Budget has more or less copied the Congress manifesto... The important thing is about the Yuva Nidhi scheme... This government has announced it as Rs 5000 per youngster who will be in the apprenticeship. It shows that this government has copied the ideas of Rahul Gandhi... The 'special category' for Andhra Pradesh has been denied. They are giving a lollipop to Andhra Pradesh..."

23 July 2024, 03:21 PM IST

Will be helpful in formation of modern India: UP DY CM Brajesh Pathak

Uttar Pradesh dpeuty CM Brajesh Pathak says, "The budget laid by FM Nirmala Sitharaman under the leadership of PM Modi will be helpful in the formation of modern India. It's a budget to fulfil the dream of people to make India develop by 2047 under the guidance of PM Modi..."

23 July 2024, 03:19 PM IST

It is an underwhelming budget: Congress MP Shashi Tharoor

Congress MP Shashi Tharoor says, "It is an underwhelming budget. I didn't hear anything about the key issues facing the common man. There is no mention of MNREGA, and insufficient mention of steps taken to improve the income of a common person. We have seen far too little from govt on addressing income disparity. On job creation, a token gesture was made. I welcome only one provision which is abolishing of tax on angel investors. I had recommended it to Arun Jaitley more than 5 years ago."

23 July 2024, 02:24 PM IST

Inflation, unemployment, food prices on rise: Sitaram Yechury

New Delhi: CPI(M) General Secretary Sitaram Yechury says, "The issues like increasing unemployment, inflation and food prices were not addressed properly as they should have been. The government expenditure as per GDP has decreased. The economy will contract so the problem of the people will increase... Subsidies have been decreased... The economic activity has to be increased to increase the employment generation... The incentives to the employers will not increase the employment generation opportunities..."

 

23 July 2024, 12:35 PM IST

Sitharaman announces personal income tax rates in new tax regime

FM Sitharaman says, "Under new tax regime, tax rate structure to be revised as follows - Rs 0-Rs 3 lakh -Nil; Rs 3-7 lakh -5% ; Rs 7-10 lakh-10% ; Rs 10-12 lakh-15%; 12-15 lakh- 20% and above Rs 15 lakh-30%."

For those opting for the new tax regime, the standard deduction for salaried employees to be increased from Rs 50,000 to Rs 75,000.

23 July 2024, 12:31 PM IST

Angel tax abolished for all classes of investors

Union Finance Minister Nirmala Sitharaman says "Monetary limit for filing Tax appeals increased to Rs 60 lacs for ITAT, Rs 2 crores for High Courts and Rs 5 crores for Supreme Court...I propose to abolish the Angel tax abolished for all classes of investors. Corporate tax rate to be reduced on foreign companies from 40 to 35 per cent..."

 

23 July 2024, 12:20 PM IST

Comprehensive review of the Income Tax Act 1961

During her Budget speech, FM Sitharaman says, "I announce a comprehensive review of the Income Tax Act 1961. This will reduce disputes and litigation. It is proposed to be completed in 6 months."

23 July 2024, 12:18 PM IST

Union Budget 2024-25: A look at all priorities announced by FM Sitharaman

Priority 1: Productivity and Resilience in Agri

Priority 2: Skilling

Priority 3: Inclusive Development

Priority 4: Manufacturing and Services

Priority 5: Urban Development

Priority 6: Energy Security

Priority 7: Infrastructure

23 July 2024, 12:15 PM IST

Custom duties reduced on precious metals

23 July 2024, 12:14 PM IST

Three cancer treatment medicines exempted from basic customs duty

23 July 2024, 12:13 PM IST

Rs 1 lakh crore financial aid to spur private sector-driven research and innovation

Union Finance Minister Nirmala Sitharaman says "Powering Innovation, Research & Development: Anusandhan National Research Fund will be set up for basic research and prototype development. Financing pool of Rs 1 lakh crore to spur private sector-driven research and innovation at commercial scale will also be done."

23 July 2024, 12:11 PM IST

BCD on mobile phone chargers reduced to 15%

On Mobile phone industry, FM Sitharaman says, "I propose to reduce the BCD on mobile phones and mobile PCBS and mobile chargers to 15%."

23 July 2024, 12:09 PM IST

FM proposes Vishnupath temple at Gaya

FM proposes Vishnupath temple at Gaya, and Mahabodhi temple in Bodhgaya and will develop corridors there on the model of the successful Kashi Vishwanath corridor to make them a world-class tourist destination. 

23 July 2024, 12:07 PM IST

FM Sitharaman announces financial assistance for Sikkim, Assam, Uttarakhand, HP -- states impacted by floods

23 July 2024, 12:06 PM IST

Capital expenditure to be Rs 11.11 lakh crore at 3.4% of our GDP

Finance Minister Nirmala Sitharaman says, "The government endeavours to maintain strong fiscal support for infrastructure over the next 5 years. Capital expenditure to be Rs 11,11 lakh crore at 3.4% of our GDP."

 

23 July 2024, 12:02 PM IST

Debt recovery tribunals will be strengthened

Finance Minister Nirmala Sitharaman says, "Integrated technology platform will be set up for improving the outcomes under Insolvency & Bankruptcy Code. Debt recovery tribunals will be strengthened & additional tribunals will be established to speed up recovery."

23 July 2024, 11:58 AM IST

Over 11 lakh crore rupees for infrastructure development

Finance Minister Nirmala Sitharaman says, "Significant investments have been made to build robust infrastructure. Over 11 lakh crore rupees for capital expenditure have been allocated for infrastructure development. This would be 3.4% Vof our GDP...Private investment in infrastructure by private sector will be promoted through viability gap funding and enabling policies..."

23 July 2024, 11:56 AM IST

Govt will partner with the private sector for setting up Bharat small reactors

23 July 2024, 11:50 AM IST

PM Suryaghar Muft Bijli Yojana to obtain free electricity upto 300 units each month

23 July 2024, 11:47 AM IST

Working women hostels will be set up, says Finance Minister

23 July 2024, 11:45 AM IST

Internship opportunities to 1 crore youth

Presenting Union Budget, Finance Minister Nirmala Sitharaman says, "The Government will launch a scheme to provide internship opportunities to 1 crore youth in 500 top companies with Rs 5000 per month as internship allowance and one-time assistance of Rs 6000."

 

23 July 2024, 11:42 AM IST

Mudra loan limit to be enhanced to 20 lakh for entrepreneurs who have repaid loans

23 July 2024, 11:43 AM IST

FM Sitharaman announces new airports, medical facilities and sports infra for Bihar

23 July 2024, 11:36 AM IST

Credit guarantee scheme for MSMEs: Sitharaman

ON MSMEs, Finance Minister Nirmala Sitharaman says, "For facilitating term loans to MSMEs, a credit guarantee scheme will be introduced. The scheme will operate on the cooling of credit risks of such MSMEs. A self-financing guarantee fund will provide to each applicant cover of up to Rs 100 crore while loan amount may be larger..."

 

23 July 2024, 11:34 AM IST

Amritsar-Kolkata industrial corridor gets nod

On the Amritsar-Kolkata industrial corridor we will support the development of an industrial nod at Gaya in Bihar. It will catalyse the development of the easter region. We will also support the development of road connectivity projects- Patna -Purnea expressway, Buxar- Bhagalpur highway, Bodhgaya- Rajgir-Vaishali- Darbhanga and an additional two-lane bridge over river Ganga in Buxar for Rs 26,000 crores."

23 July 2024, 11:32 AM IST

Andhra Pradesh Reorganisation Act to fulfil commitments

23 July 2024, 11:30 AM IST

EPFO scheme will benefit first-time employees as registered

23 July 2024, 11:24 AM IST

Financial support for loans up to Rs 10 lakhs for higher education

On Education loans, FM Sitharaman says,"Govt to provide financial support for loans up to Rs 10 lakhs for higher education in domestic institutions."

23 July 2024, 11:22 AM IST

Schemes of EPFO and focus on recognition of the first time employees

Finance Minister Nirmala Sitharaman says, "Our govt will implement three schemes for employment-linked incentives as part of the Prime Minister's package. These will be based on enrollment in the EPFO and focus on recognition of the first time employees and support to employees and employers. "

23 July 2024, 11:21 AM IST

1 crore farmers will be initiated into natural farming: Sitharaman

Finance Minister Nirmala Sitharaman says, "New 109 high-yielding and climate resilient varieties of 32 field and horticulture crops will be released for cultivation by farmers. In the next 2 years, 1 crore farmers will be initiated into natural farming supported by certification and branding..."

 

23 July 2024, 11:20 AM IST

FM allocates Rs 1.52 lakh crore to agriculture

Finance Minister Nirmala Sitharaman says,"This year the allocation for agriculture and allied sectors is Rs 1.52 lakh crore."

23 July 2024, 11:12 AM IST

India's economic growth will be shining: Sitharaman

Finance Minister Nirmala Sitharaman 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% target..."

23 July 2024, 11:10 AM IST

Budget focus on Poor, Women, Youth and Farmer, says FM

While presenting the Union Budget for 2024-25, finance minister said that this year budget focused on poor, women, youth and farmer.

23 July 2024, 11:08 AM IST

People reposed faith in PM Modi: Sitharaman

Union Finance Minister Nirmala Sitharaman presents the first Budget of the third consecutive Modi government. FM says, "The people of India have reposed their faith in the govt led by PM Modi and re-elected it for the historic third term..."

 

23 July 2024, 11:06 AM IST

Finance Minister Nirmala Sitharaman presents the Union Budget 2024-25 in Lok Sabha

23 July 2024, 11:00 AM IST

Leader of the Opposition Rahul Gandhi reaches Parliament

Rahul Gandhi reaches Parliament ahead of Union Budget presentation by Union FM Nirmala Sitharaman in Lok Sabha.

23 July 2024, 11:00 AM IST

Opposition urges Finance Minister to address inflation

Aam Aadmi Party MPs including Sanjay Singh and Raghav Chadha protest at Parliament against the alleged misuse of Central Agencies.

 

23 July 2024, 10:41 AM IST

PM Modi reaches Parliament

PM Modi in Parliament, ahead of the presentation of Union budget by Finance Minister Nirmala Sitharaman.

23 July 2024, 10:24 AM IST

PM through the Budget will help the 'crorepatis': Gaurav Gogoi

On Union Budget, Congress MP Gaurav Gogoi, while speaking to ANI said, "The PM through the Budget will help the 'crorepatis' who are close to him. The middle class and the sincere taxpayers will not get anything except hollow promises."

23 July 2024, 10:22 AM IST

Union Cabinet approves Budget 2024 ahead of presentation

Union Cabinet headed by PM Modi meets in Parliament to approve the Union Budget ahead of its presentation by Finance Minister Nirmala Sitharaman.

23 July 2024, 10:18 AM IST

Budget will take the country to the path of progress

Union Minister Jyotiraditya Scindia arrives at the Parliament ahead of Union Budget presentation. He said, "The budget will be a journey of resolve to take the country on the path of development and progress. It is our hope that on the basis of this budget, we will move rapidly towards achieving the goal of 'Viksit Bharat' as per the resolve of the Prime Minister."

23 July 2024, 10:12 AM IST

Finance Minister arrives in Parliament

Finance Minister Nirmala Sitharaman carrying the Budget tablet arrives at Parliament along with her team, to present the Union Budget in Lok Sabha.

23 July 2024, 09:53 AM IST

J&K budget copies arrive in Parliament

Jammu and Kashmir budget copies arrive in Parliament; Union Finance Minister Nirmala Sitharaman will present the estimated receipts and expenditure (2024-25) of the Union Territory of Jammu and Kashmir (with legislature) in Parliament today.

23 July 2024, 09:43 AM IST

FM heads to call on President Murmu

Finance Minister Nirmala Sitharaman heads to Rashtrapati Bhavan to call on President Draupadi Murmu.

23 July 2024, 09:28 AM IST

Finance Minister Nirmala Sitharaman along with her team with the Budget tablet outside the Ministry of Finance in North Block.

23 July 2024, 09:16 AM IST

Zuhaib Khan, who uses graphite-charcoal to create artwork, makes a portrait of Finance Minister

Zuhaib Khan, who uses graphite-charcoal to create artwork, makes a portrait of Finance Minister Nirmala Sitharaman to mark the presentation of the Union Budget.

23 July 2024, 09:11 AM IST

Finance Minister Nirmala Sitharaman arrives at the Ministry of Finance

23 July 2024, 09:10 AM IST

Union Finance Minister Nirmala Sitharaman presents the Budget 2024 in Parliament today

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