Indian Union budget 2024
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Budget 2024 Key Highlights LIVE Updates: India to cut aid to the Maldives by 22%
Budget 2024 Key Highlights LIVE Updates: The government said that the Budget was presented with a focus on economic policies that foster growth, facilitate inclusive development, improve productivity, and create opportunities for various sections
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Union finance minister Nirmala Sitharaman presented the interim budget 2024 on Thursday. (HT_PRINT)
Budget 2024 Key Highlights LIVE Updates: Union Finance Minister Nirmala Sitharaman presented her sixth Budget on February 1. This was an interim budget ahead of the general elections later this year. The Interim Budget 2024 was focused on youth and women empowerment, while maintaining fiscal consolidation and continuing capex. FM Sitharaman lowered down FY25 fiscal deficit target to 5.1% of the GDP. There were no changes made to the direct tax and indirect tax rates.
10 key takeaways from FM Sitharaman’s post-budget presser
1] Finance Minister Nirmala Sitharaman stressed on 5 ‘Disha Nirdashak’ baatein: Social justice as an effective governance model; Focus on the poor, youth, women, and the Annadata (farmers); Focus on infrastructure; Use of technology to improve productivity and High power committee for challenges arising from demographic challenges.
2] India has had three consecutive years of 7% GDP growth and is the fastest growing economy in G20.
3] GDP is Government, Development and Performance. We have delivered on Development and have better managed the economy. We are bringing down the fiscal deficit despite very challenging times.
4] Capex from the government will continue, it is important to continue it, FM said.
5] India, Middle East, European Corridor (IMEC) project to be taken forward despite disturbances in Red Sea.
6] The withdrawal of 1.1 crore outstanding small direct tax demands for certain years will cost less than ₹3,500 crore to the exchequer, said Revenue Secretary Sanjay Malhotra.
7] No extension of lower tax rate to new manufacturing units coming into place after March 2024, FM clarified.
8] Do not have a fixed target for disinvestment in FY25, said DIPAM Secretary Tuhin Kanta Pandey.
9] We are not only aligning with the fiscal consolidation path given earlier, but we are also bettering it, Finance Minister Nirmala Sitharaman said in her message to credit rating agencies
10] The relevance of the target to reduce the Centre’s debt-to-GDP ratio to 40% was set before COVID-19 period and now has to be examined, Finance Secretary TV Somanathan said.
Budget 2024 Key Highlights LIVE: Special focus on capital expenditure, fiscal prudence in interim Budget will enhance employment opportunities
Revenue Secretary Sanjay Malhotra said the special focus on capital expenditure and fiscal prudence in the interim Budget 2024 will enhance employment opportunities and give a boost to the economy and incomes, and highlighted that the budget aims to empower people.
Budget 2024 Key Highlights LIVE: Any change in customs duty can be looked at in full budget to be presented after polls, says revenue secretary
Emphasising ‘certainty and stability’ in the tax structure, Revenue Secretary Sanjay Malhotra has said that any change in customs duty can be looked at in the full budget to be presented after the Lok Sabha polls and that the government is aiming ₹1.83 lakh crore GST collection per month next fiscal
04 Feb 2024, 02:29:40 PM IST
Budget 2024 Key Highlights LIVE: 'This budget lays a crucial foundation for empowering India's youth,' says University Living CEO
Founder and CEO at University Living, Saurabh Arora said, “ In this era where new-age technologies and data are transforming lives and businesses, the budget recognizes their role in creating economic opportunities and providing high-quality services at affordable prices, particularly for those at the 'bottom of the pyramid.' The expanding global opportunities for India are being driven by innovative solutions and entrepreneurial spirit. With ₹73,008 crore allocated to the School Education, strategic investments and accomplishments in the education sector, this budget lays a crucial foundation for empowering India's youth, enabling them to aspire for higher education avenues beyond boundaries and elevate India’s international standing."
Budget 2024 Key Highlights LIVE: ‘Sports budget has risen around 3 times of what it was before,’ says PM Modi
Prime Minister Narendra Modi, on February 3, during a virtual address at the launch of Pali Sansad Khel Mahakumbh said, “In the last ten years, the sports budget has risen around 3 times of what it was before. Today, hundreds of athletes are receiving highly-skilled training in the country and abroad under the TOP scheme. Through 'Khelo India', over 3,000 players are being provided assistance worth Rs. 50,000 every month".
He further mentioned that the country's youth should be safe from harmful addictions of various kinds and increase willpower and concentration. PM Modi added, "A key aspect of sports is that they not only make you cultivate the habit of winning but inspire you to become better and better in life. Sports teach us that excellence has no limits. Our (interim) Budget on February 1 was also dedicated to the youth of the country."
Budget 2024 Key Highlights LIVE: ‘The budget that has come is dedicated to the youth of the country,’ says PM Modi
Prime Minister Narendra Modi, on February 3, during a virtual address at the launch of Pali Sansad Khel Mahakumbh said that the interim budget 2024 is dedicated to the youth of the country. The centre is going to spend over ₹11 lakh crore on rail, road, and modern infrastructure claimed PM Modi. The event was being organised by BJP MP from Pali, PP Chaudhary.
He said, “The budget that has come is dedicated to the youth of the country. The government is going to spend more than ₹11 lakh crore on rail, road and modern infrastructure. The biggest beneficiaries will be our youth."
PM Modi added, “Who desires good roads the most? Our youth... India is going to spend ₹11 lakh crore on modern infrastructure; the youth have the maximum number of new employment opportunities. will become."
Budget 2024 Key Highlights LIVE: Govt slashes allocation for UGC by 61%
UGC allocation was slashed by 61% from an estimate of ₹6,409 crore in 2023-24 to ₹2,500 crore for the upcoming financial year, according to the budget document released on February 1.
An assistant professor at Delhi University, Rajesh Jha raising concerns over decrease in UGC budget said, “The drastic cut in UGC fund has deleted G (Grants) and reduced it to merely a regulatory agency. This will further encourage universities to start more self financing courses which will be an additional burden on students. It will also make universities more dependent on loans from Higher Education Financing Agency (HEFA)."
Budget 2024 Key Highlights LIVE: Govt slashes allocation for higher education
According to the budget document released on February 1, the Union government has set aside ₹73,008.10 crore for schools of the total outlay for the upcoming financial year. This marks marginal increase of 0.73% from the revised estimate for 2023-24.
Higher education budget allocation witnessed a sharp slump by ₹9,600 crore (16.8%) and was earmarked at ₹47,619.77 crore.
Moreover, the overall revised estimate was different from the one mentioned in the budget document released by the finance ministry. The Union ministry of education claimed that the school education budget has increased by 19.5%. A senior ministry official said, “The revised estimates mentioned in the budget document have been added to it. However, it should be calculated without it."
Budget 2024 Key Highlights LIVE: ‘Viability gap funding will be provided for harnessing offshore wind energy potential,’ says Sitharaman
FM Nirmala Sitharaman discussed viability gap funding during the announcement of budget. She said, "Viability gap funding will be provided for harnessing offshore wind energy potential for initial capacity of 1 GW," in reference to India's commitment to 'net-zero' by 2070.
Budget 2024 Key Highlights LIVE: ‘Savings up to Rs15,000-18,000 annually for households from free solar electricity,’ says Sitharaman
FM Nirmala Sitharaman touched upon the topic of Ram Mandir during the announcement of budget. The Finance Minister in her speech said one crore households will be enabled to obtain up to 300 units of free electricity each month through rooftop solarisation, while highlighting the Pradhanmantri Suryodaya Yojana.
She added, “This scheme follows the resolve of the Prime Minister on the historic day of consecration of the Ram Mandir in Ayodhya." She stated that there will be “savings up to Rs15,000-18,000 annually for households from free solar electricity and selling the surplus to the distribution companies."
Budget 2024 Key Highlights LIVE: ‘The tax benefits for startups …. will boost the investment ecosystem,’ says Anant National University official
Head Incubation and Office of Career Services at Anant National University, Dr Dhara Thakore, said, "It includes several noteworthy announcements poised to have a positive impact on the innovation and startup ecosystem. Bitech and sunrise sectors. This will encourage businesses to make substantial research and development efforts, in technologies such as 5G, and generative AI to name a few. This budgetary allocation will not only boost skill development of the youth but also foster industry academia collaboration, which will eventually transform the research landscape of the Higher Education institution.
Budget 2024 Key Highlights LIVE: India to cut aid to the Maldives by 22%
According to the Interim Budget document released by the government on February 1, India has proposed to cut aid to the Maldives by 22 per cent in the upcoming financial year. Maldives has been allocated third highest aid to any foreign country by the government that stands at ₹600 crore for developmental assistance.
Budget 2024 Key Highlights LIVE: ‘Focused on nurturing creativity, the budget envisions the development of future leaders,’ says Sri Sri University President
Sri Sri University President, Rajita Kulkarni said, "At the forefront is the National Education Policy (NEP) of 2020, introducing transformative measures to instill entrepreneurial mindsets in students commendable emphasis on youth empowerment and entrepreneurship, the budget lays a promising foundation for today's youth, emphasizing education and skill development.
Budget 2024 Key Highlights LIVE: ‘That one decade was completely wasted’ when UPA was in power, says FM Sitharaman
Union finance minister Nirmala Sitharaman in a recent interview with Mint said that Viksit Bharat vision for a developed India is important because the younger generation should not go through what we did when we were growing up
She added, “against the red tape, policy paralysis, nepotism and corruption of the previous government that ruled for a decade till 2014."
While referring to the decade between 2004 and 2014 when the UPA was in power, FM Sitharaman said, “That one decade was completely wasted."
Budget 2024 Key Highlights LIVE: Impossible to achieve Viksit Bharat vision by adopting narrow sectoral approach, says FM Sitharaman
Union finance minister Nirmala Sitharaman in an interview with Mint said, “It will not be possible to achieve this [vision of a developed India -Viksit Bharat] by just adopting a narrow sectoral approach."
She added, “The emphasis needs to be on all sectors, and on everyone."
04 Feb 2024, 09:51:13 AM IST
Budget 2024 Key Highlights LIVE: 'India will be the world’s third largest economy in {PM] Modi's 3rd term,' says FM Sitharaman
Union finance minister Nirmala Sitharaman in a recent interview with Mint said, “India will be the world’s third largest economy in Modi's 3rd term" while referring to the four caste groups she mentioned in her speech on the day she announced the interim budget.
Budget 2024 Key Highlights LIVE: FM Nirmala Sitharaman sets deficit target of 5.1% for the upcoming financial year
FM Nirmala Sitharaman announced the adoption of an aggressive fiscal consolidation target with deficit target of 5.1% as against the expectation of 5.3% levels for the upcoming financial year. In this financial year, the government has achieved fiscal deficit target of 5.8%.
Budget 2024 Key Highlights LIVE: Infrastructure outlay increases by 11%
FM Nirmala Sitharaman raised the outlay for infrastructure to ₹11,11,111 crore from ₹10,00,000 crore that is by 11% for the upcoming financial year.
Budget 2024 Key Highlights LIVE: Gross borrowing for FY25 estimated at ₹14.13 trillion
Ahead of next financial year, gross borrowing were reduced from that of FY24 and were estimated to be ₹14.13 trillion.
Budget 2024 Key Highlights LIVE: 'Substantial leap towards expanding opportunities in traditionally male-dominated fields,' says CEO at Hero Vired
Founder and CEO at Hero Vired, Akshay Munjal said, “The interim budget marks a pivotal stride towards fostering inclusive and robust academic growth. The establishment of new institutes underscores our commitment - that is, to elevate both the scale and quality of education. Mission, the training of 114 million youth, along with upskilling/reskilling of 5.4 million youth, are strong steps that will benefit the industry at large by addressing the crucial need to bridge the demand-supply gap for skilled workers."
Budget 2024 Key Highlights Govt's support to EV sector will help achieve goal of 30% EV penetration by 2030, says IONAGE Technologies official
CEO and Co-Founder at IONAGE Technologies, Vimal Kumar said, "The Government’s focus on EV as a sector, along with green energy and sustainable transportation - government sanctioned 2,877 electric vehicle charging stations, with 1,576 charging stations to be installed along 9 expressways and 16 highways, under phase-II of the FAME India Scheme. And now, the Union Budget 2024 reiterates the government's ongoing support to the sector, which will be valuable in achieving the goal of 30% EV penetration by 2030.
The bold initiatives, particularly the rapid adoption of e-buses for public transport networks supported by a robust payment mechanism, signal a transformative phase. This not only fuels innovation but also catalyzes the expansion of a comprehensive EV charging infrastructure for public and private vehicles. This also aligns with our mission of democratising EV charging accessibility."
Budget 2024 Key Highlights LIVE: Government to withdraw all outstanding disputed tax demands
In order to facilitate the ease of living and ease of doing business, Finance Minister Nirmala Sitharaman in her Interim Budget speech on 1st February 2024, said the government will withdraw outstanding direct tax demands up to:
a) Rs. 25,000 pertaining to the period up to Financial Year 2009-10
b) Rs. 10,000 pertaining to financial years 2010-11 to 2014-15.
The disputed tax demands will be withdrawn to improve taxpayer services.
03 Feb 2024, 10:42:06 PM IST
Budget 2024 Key Highlights LIVE: Why lakhpati didi is a game-changer
Finance minister Nirmala Sitharaman has unveiled a progressive vision for the nation’s women through the interim budget for FY25. The commitment to increase the target of women beneficiaries under the Lakhpati Didi scheme from two crore to three crore is a significant stride towards financial inclusion and empowerment.
women is transforming rural landscapes, creating a million lakhpati didis. This is a commendable step towards fostering financial independence. Read More
03 Feb 2024, 10:02:08 PM IST
Budget 2024 Key Highlights LIVE: Sitharaman turns focus on health of girls aged 9-14
Finance minister Nirmala Sitharaman made only a slight increase in fund allocations for the ministries of health and family welfare, as well as women and child development in her interim budget for FY25.
But a key highlight of her budget speech in parliament was the government’s fresh focus on the health of young girls. Sitharaman said that the government will actively promote vaccination of girls aged 9-14 for prevention of cervical cancer. “Our government will encourage vaccination for girls in the age group of 9-14 years for prevention of cervical cancer," she said.
Budget 2024 Key Highlights LIVE: One crore taxpayers to get relief with the withdrawal of outstanding tax demands
In the case of some taxpayers, their income tax disputes have been going on for years. As a result, their tax refunds also get stuck due to the pending demand from the previous years. If you are also one of the taxpayers with an outstanding disputed tax demand, there is good news for you in Budget 2024. Read More
03 Feb 2024, 08:44:51 PM IST
Budget 2024 Key Highlights LIVE: 6 of top market experts list sectors that stand to get major push
Finance Minister Nirmala Sitharaman tabled her sixth straight Budget in the Parliament yesterday, February 1. Since this is an election year, a full budget will be presented in July, after the formation of the new government.
The interim budget focused mainly on fiscal consolidation with an increasing focus on sectors including infrastructure, railways, defence, green energy, tourism, agriculture, and EV. Read More
03 Feb 2024, 08:01:51 PM IST
Budget 2024 Key Highlights LIVE: FAME allocation cut won't spoil EV growth story, says Raptee Energy's Jayapradeep Vasudevan
The highly anticipated announcement of Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme's third phase wasn't forthcoming in the Interim Budget 2024 presented by Finance Minister Nirmala Sitharaman on February 1. And to the EV industry's dismay, the existing FAME scheme also saw a massive 55.58% cut in allocation. Budgetary support plunged from ₹4,807.40 crore to ₹2,671.33 crore for the upcoming financial year, falling significantly short of expectations for a hike to ₹10,000-12,000 crore.
Budget 2024 Key Highlights LIVE: Nirmala Sitharaman on India's G20 presidency
“India assumed G20 Presidency during very difficult times for the world. The global economy was going through high inflation, high interest rates, low growth, very high public debt, low trade growth, and climate challenges. The pandemic had led to a crisis of food, fertilizer, fuel and finances for the world, while India successfully navigated its way. The country showed the way forward and built consensus on solutions for those global problems," Union Finance Minister Nirmala Sitharaman said in her budget day speech.
Budget 2024 Key Highlights LIVE: No major announcement for sports sector, says CEO Gamepoint
“As this was an interim budget, the government did not make any major announcements for the sports sector and the total budget for sports has remained similar to last year with an allocation of 3442 crores for Financial Year 2024-25 compared to 3397 crores in Financial Year 2023-24," Aditya Reddy, Co-Founder & CEO of Gamepoint said.
“PM Narendra Modi during the inauguration of the Khelo India Youth Games in Chennai stated that the government has resolved to make the country an important centre of the global sports ecosystem. He also highlighted that sports was not just limited to the field, but also presents a huge economic opportunity, he said the country’s sports-related industry will be worth at least ₹1 lakh crore in a few years," he said.
Budget 2024 Key Highlights LIVE: Govt to raise subsidy for rooftop solar installation to 60%
The government is set to increase the subsidy for rooftop solar installations to about 60% under the new Pradhan Mantri Suryoday Yojana, union minister for new and renewable energy R.K. Singh said on Friday.
Currently, the government provides a 40% subsidy for rooftop solar installations.
Budget 2024 Key Highlights LIVE: Interest-free loans for up to 50 years is a significant support
“It's genuinely exciting to learn about India's new plan outlined in this interim budget, focusing on building infrastructure and leveraging more technology. It's like laying the foundation for the country's growth, be it through cutting-edge tech, physical development, or improved connections. What's particularly commendable is the government's trust in the younger generation to bring in fresh tech ideas and innovations, recognizing the potential they hold for positive change," Ajay Chaurasia, Vice President, RupeeRedee said.
"Moreover, the provision of interest-free loans for up to 50 years is a significant support system for individuals and businesses, allowing them to kickstart and sustain their endeavors. This move has the potential to not only create more jobs but also foster the growth of entrepreneurship, enabling people to build and sustain their own businesses.
Budget 2024 Key Highlights LIVE: PM Modi says Budget 2024 is dedicated to the youth
Budget 2024 Key Highlights LIVE: Prime Minister Narendra Modi on Saturday said that the interim budget 2024 is dedicated to the youth of the country as the government is going to spend more than ₹11 lakh crore on rail, road, and modern infrastructure.
The Prime Minister made these remarks during a virtual address at the launch of Pali Sansad Khel Mahakumbh. The event was being organized by BJP MP from Pali, PP Chaudhary.
Budget 2024 Key Highlights LIVE: Union Budget shines light on India's future
“The Union Budget 2024 shines a light on India's future by investing in new ITIs, IITs, IIITs, IIMs, AIIMS, and universities. I truly believe that empowering our youth requires blending the strengths of traditional institutions with the innovative approaches of edtech platforms like HeyCoach. This combination nurtures not only academic excellence but also vital skills such as emotional intelligence, creativity, and adaptability. Post-academia, the focus should pivot towards nurturing problem-solving abilities and resilience to confront future challenges head-on," Pratik Kapasi, Founder of HeyCoach said.
"Edtech platforms extend beyond a supplementary role; they act as pivotal agents of transformation. They democratize access to the best education, customize learning to meet individual needs, and gear students up for real-world challenges. These are the attributes that will sculpt the leaders, innovators, and thinkers of the future. In Conclusion, the role of education is about cultivating a society that values critical thinking, embraces diversity, and is committed to solving complex global issues.
Budget 2024 Key Highlights LIVE: Experts on divestment targets in budget
“The divestment targets have been missed once again and FY25 budget estimates have also been kept at a conservative 50k crore only. The underachievement is understandable as there was no revenue pressure and with the shortfall too, the government has estimated to better the fiscal deficit at 5.8%. Given that the new government will present its full budget in July and the divestments take preparation time, the government has made conservative estimates. The government may not need more proceed from this line in next year too as the final dividend proceeds for FY25 from public sector enterprises are also likely to be significantly higher next year as those will be accounted for in FY25," Ranen Banerjee, Partner and Leader Economic Advisory, PwC India said.
Budget 2024 Key Highlights LIVE: Govt's commitment for sports is evident
“Last year, we witnessed a ₹300 crore increase in sports allocations, which contributed to India's success in the Asian and Para-Asian Games. The government's continued commitment is evident in the latest budget, with a total allocation of ₹3442 crores, which reflects a significant increase from the previous year's budget." Tenzing Niyogi, CEO and League Commissioner of Ultimate Kho Kho said.
"The increased allocations not only boost the morale of our athletes but also serve as a testament to the government's vision for developing and nurturing sporting talent. As India gears up for the upcoming Paris Olympics, this heightened financial support will pave the way for a promising era for sports in the country," Tenzing added.
Budget 2024 Key Highlights LIVE: Govt's housing scheme will propels economic growth
“The thriving economic system has undoubtedly placed us as a “hub for business and conference tourism" where opportunities like demand for hospitality infrastructure and allied services can be a huge development but has also elevated the aspirations of our middle-income class to discover the sector. Recognizing the symbiotic interconnection between tourism and local entrepreneurship, we intend to unlock the opportunities for our citizens. Moreover, our commitment to offering dignified living spaces takes center stage with the release of a groundbreaking scheme," Mohit Jajoo, CEO & Director of Shubhashish Homes said.
“Targeting deserving sections of the middle-income class dwelling in rented houses, slums, chawls, and unauthorized colonies, we empower them to turn the key to their dream houses. It's no longer about building houses; it is about constructing a foundation for a brighter and more inclusive community for all," he added.
Budget 2024 Key Highlights LIVE: Budget allocation for Khelo India will play pivotal role for grassroots development
“The substantial allocation in this year's budget not just for the sports sector but also for Khelo India will play a pivotal role with regard to grassroots development. This support for our athletes across all sporting disciplines will facilitate more participation and lead to more medals at the Olympics and other international tournaments," Suhail Chandhok, CEO, U Mumba said.
Our upGrad Mumba Masters’ athletes Vidit Gujrathi, Harika Dronavalli, and Koneru Humpy securing Medals at last year’s Asian Games 2022 have brought immense pride to Indian chess, with Vidit also going on to secure a place in the prestigious Candidates tournament," he added.
03 Feb 2024, 02:56:09 PM IST
Budget 2024 Key Highlights LIVE: ‘Govt has a proactive stance towards sports,’ says experts
Budget 2024 Key Highlights LIVE: “The government's proactive stance towards sports through this increased allocation of funds will provide the impetus for Indian athletes to shine brightly in international competitions, contributing to the continued growth and success of the country's success on the global stage. Chairman & Managing Director of the Punit Balan Group said.
"Our honorable Finance Minister, Nirmala Sitharaman, acknowledging the remarkable achievements of our youth in sports, particularly in chess, reflects the bright future of the sport in our nation. We take pride in Raunak Sadhwani, the prodigy of Balan Alaskan Knights, being one of India’s 80 Grandmasters," Punit added.
Budget 2024 Key Highlights LIVE: 'This year's Budget focus on the overall MSME sector… is a welcome sign,' says Worldline CEO
Chief Executive Officer at Worldline (India) Ramesh Narasimhan said, "This year's Budget focus on the overall MSME sector to facilitate growth and development is a welcome sign. ecosystem and boost innovation. It is an opportunity for PayTech players like us to work closely with MSMEs to drive the next phase of digitization."
03 Feb 2024, 01:35:52 PM IST
Budget 2024 Key Highlights LIVE: 'Bond markets and fixed income managers will be more constructive on adding duration to their funds,' says Investment Research India Private Limited official
Director at Morningstar Investment Research India Private Limited, Mr. Kaustubh Belapurkar said, “Given the clear continued focus on fiscal prudence with estimated fiscal deficit for 2024-25 at 5.1%. This has given a lot of cheer to the bond markets and fixed income managers will be more constructive on adding duration to their funds"
03 Feb 2024, 12:47:31 PM IST
Budget 2024 Key Highlights LIVE: National Green Hydrogen Mission will ensure ‘progressive step towards sustained future growth,’ says Repos Energy official
Founder and CVO at Repos Energy, Aditi Bhosale Walunj said, “The Government of India is taking active steps in this direction with the National Green Hydrogen Mission. This is a progressive step towards sustained future growth as it would ensure an uninterrupted supply of clean energy to all the stakeholders. The technological applications may also benefit us in the efficient and optimal use of currently available fuels. 24/7 easy access to energy shall drive domestic production."
03 Feb 2024, 12:14:55 PM IST
Budget 2024 Key Highlights LIVE: ‘The 11.1% increase in infrastructure outlay will enhance the railway, roads and logistics infrastructure of the country,’ says Knight Frank official
Chairman and Managing Director at Knight Frank India Mr. Shishir Baijal said, “The union budget presented . . . . has further strengthened the government’s commitment towards long- term social and infrastructure development. Though it is an interim budget due to the impending elections, today’s announcements by the Union Finance Minister are significant in many aspects. The 11.1% increase in infrastructure outlay which is 3.4% of GDP will further enhance the railway, roads and logistics infrastructure of the country.
He added, Additionally, the proposed boost to housing for the middle-class living in sub-par accommodation is also a welcome inclusion. We look forward to the details of this as we expect this to have great long-term ramifications. Further, the enhanced focus on domestic tourism development will provide a fillip to the hospitality industry."
03 Feb 2024, 12:00:00 PM IST
Budget 2024 Key Highlights LIVE: Govt hikes windfall tax on petroleum crude
The government has increased the windfall tax on petroleum crude to ₹3,200 per tonne from the earlier rate of ₹1,700 per tonne that will be effective from February 3.
The windfall tax on jet fuels- diesel and aviation turbine fuel (ATF) remains unchanged at zero. Earlier on January 16, the government had reduced the windfall tax on petroleum crude to ₹1,700/tonne from ₹2,300/tonne.
03 Feb 2024, 11:26:06 AM IST
Budget 2024 Key Highlights LIVE: Govt targets to build 13,000 kilometres of national highways by March
A senior government official on Saturdsay informed that the government aims to complete building of 13,000 kilometres (km) of national highways (NH) by the end of March. Hence, it would be able to meet around 94% of its target for the financial year ending in March.
Further, the government has set aside ₹2.78 trillion for the MoRTH for FY25 which is much higher than the budget estimate of ₹2.7 trillion in FY24.
03 Feb 2024, 10:23:00 AM IST
Budget 2024 Key Highlights LIVE: Government set to increase subsidy for rooftop solar installations, says Energy Minister
Union Minister of New and Renewable Energy, R.K. Singh on February 2 informed that the government will increase the subsidy for rooftop solar installations to about 60% from current 40% under the new Pradhan Mantri Suryoday Yojana.
He said, "For them going and taking a loan is a problem.
Budget 2024 Key Highlights LIVE: From more medical colleges to cervical cancer vaccination, here's what Nirmala Sitharaman had in store for healthcare sector
Union Finance Minister Nirmala Sitharaman while presenting the budget said, “Our Government plans to set up more medical colleges by utilising the existing hospital infrastructure under various departments. A committee for this purpose will be set-up to examine the issues and make relevant recommendations."
