India Budget 2024 Live Updates: Capital gains tax changes to be effective from today, says Revenue Secretary
Budget 2024 Live, India Budget 2024 Live from Parliament, Nirmala Sitharaman Budget Speech Live Updates: Amid key things that will get expensive after Nirmala Sitharaman’s budget announcements, plastic goods and telecom equipment are set to turn costlier.
Union Budget 2024 Live Updates: In her record-breaking seventh budget, Finance Minister Nirmala Sitharaman unveiled new economic roadmap of Modi 3.0 in the Lok Sabha on Tuesday. Presenting the Union Budget 2024, Sitharaman said that the Modi government will focus more on middle class and youth of the country. From abolishing angel tax in a massive boost for the startup ecosystem to revising new tax regime structure, Sitharaman announced a slew of schemes.
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Union Budget 2024 Live, India Budget 2024 Live Announcements: Though stock markets tanked over 1,000 points after the Union Budget announcements, there has been a lot of cheer for special focus on job creation, angel tax abolition among other things
Revised tax rate under New Tax Regime as follows:
₹0-3 lakh – nil tax
₹3-7 lakh – 5%
₹7-10 lakh – 10%
₹10-12 lakh – 15%
₹12-15 lakh – 20%
Above ₹15 lakh – 30%
Highlights from Budget so far
- Employment and Skilling:
Five schemes to focus on 4.1 crore youth over 5 years with a central outlay of ₹2 lakh crore
Comprehensive internship scheme for one crore youth in top companies over five years
Employment-linked incentives, including one month’s wage support for first-time employees
Women-specific skilling programs and increased workforce participation
- MSME and Manufacturing Support:
Special attention to MSMEs and manufacturing sector
Credit guarantee scheme and term loans for machinery purchase
Technology support package for MSMEs
SIDBI to open 24 new branches to serve MSME clusters
- Financial Initiatives:
Mudra loan limit increased from ₹10 lakh to ₹20 lakh for previous borrowers
Financial support for higher education loans up to ₹10 lakhs in domestic institutions
Integrated technology system for Insolvency and Bankruptcy Code (IBC)
- Agriculture and Rural Development:
₹2.66 lakh crore provision for rural development
Transformation of agricultural research to focus on productivity and climate-resilient crop varieties
Initiative to introduce 1 crore farmers to natural farming over 2 years
- Infrastructure and Regional Development:
Rental housing in PPP mode for industrial workers
Special financial support of ₹15,000 crore for Andhra Pradesh
New airports, medical facilities, and sports infrastructure for Bihar
- Economic Outlook:
Inflation moving towards 4% target
India’s economic growth described as a “shining exception”
Focus on job creation and boosting consumption, potentially benefiting consumer goods, real estate, and auto sectors
- Nine Priority Areas: Agriculture, Employment, Inclusive Development, Manufacturing and Services, Urban Development, Energy, Infrastructure, Innovation and R&D, and Next Generation Reforms.
- Women-Led Development: Over ₹3 lakh crore allocated for schemes benefiting women and girls.
- Social Welfare: Extension of PMGKAY (Pradhan Mantri Garib Kalyan Anna Yojana) for five years, benefiting over 80 crore people
- Digital and Technological Advancements: Development of Digital Public Infrastructure (DPI) applications for credit, e-commerce, law and justice, and corporate governance
Read the latest news on Budget 2024 with our live coverage on the Income Tax Slab, Impact on Share Market, Budget Key Highlights, Corporate Reactions.
23 Jul 2024, 02:49:44 PM IST
Budget 2024 Live: PM Modi on new opportunities for startups and space economy
Budget 2024 Live: Prime Minister Narendra Modi says “For MSMEs, a new scheme to increase ease of credit has been announced in the budget. Announcements have been made to take export and manufacturing ecosystem to every district in this budget…This budget will bring new opportunities for startups and the space economy…”
23 Jul 2024, 02:47:22 PM IST
Budget 2024 Live: ‘Provisions to make Defence self-reliant, tourism in focus, tax & TDS simplified… we are speeding development,’ says PM Modi
Budget 2024 Live: “Today, Defence exports are at a record high. Many provisions have been made in this Budget to make the defence sector self-reliant. Focus also laid on the tourism sector in this Budget…A decision has also been taken on the reduction of tax and TDS rules are also simplified…We are speeding development in the eastern region by the way of construction of highways and water and power projects…”
23 Jul 2024, 02:40:29 PM IST
Budget 2024 Live: ‘Will make India a global manufacturing hub,’ says PM Modi
Budget 2024 Live: Prime Minister Narendra Modi says “We will together make India a global manufacturing hub. The MSME sector of the country is connected to the middle class. The ownership of the MSME sector is with the middle class. This sector provides maximum employment to the poor…”