Budget 2024 Highlights: FM disappoints investors, rewards (some) taxpayers

Budget Speech 2024 LIVE Analysis: 2.66 lakh crore for rural development, Nirmala Sitharaman announces.

Budget Speech 2024 LIVE Analysis: Nirmala Sitharaman said that the government will arrange financial assistance to Bihar through aid from multilateral development agencies. A plan will be formulated for Purvodaya for all round development of Bihar, Jharkhand, West Bengal, Odisha, and Andhra Pradesh. Patna-Purnya expressway, Buxar-Bagalpur expressway, Bodhgaya-Rajgir-Vaishali-Darbanga spurs, and additional two-lane bridge over Ganga at Baksar at ₹26,000crore, she said. Power projects, including 2400 MW power plant at Pir Payanti to be taken up at ₹21,400crore.

Budget Speech 2024 LIVE Analysis: Nirmala Sitharaman said that the limit of Mudra loans will be extended to ₹20 lakh from ₹10 lakh for those who have availed and paid previous loans.

Budget Speech 2024 LIVE Analysis: Finance minister Nirmala Sitharaman said, "Andhra Pradesh Reorganisation Act- Our govt has made efforts to fulfil the commitments in Andhra Pradesh Reorganisation Act. Recognising the state's need for capital, we will facilitate special financial support through multilateral agencies. In the current FY, ₹15,000 crore will be arranged with additional amounts in future years."

Budget Speech 2024 LIVE Analysis: The Finance minister said that the request from Bihar government for external assistance from multilateral development banks will be expedited.

Budget Speech 2024 LIVE Analysis: Nirmala Sitharaman said, “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. 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 ₹2 lakh crores. This year we have made a provision of ₹1.48 lakh crores for education, employment and skilling.”

Budget Speech 2024 LIVE Analysis: The Finance Minister announced that increasing the participation of women in the workforce will be a priority. This will be done by setting up hostels and creating partnerships to organize women-specific skilling programs.

Budget Speech 2024 LIVE Analysis: Milan Mody, Managing Partner, N.A. Shah Advisors, said, “The budget proposes significant benefits for new and additional employment to propel growth. 3 schemes are being announced which include one month wage upto 15,000 for first time employee with salary upto Rs.100,000. Benefit will disbursed in 3 Installment.”

Budget Speech 2024 LIVE Analysis: Nirmala Sitharaman announces financial support for loans up to ₹10 lakh for higher education.

Budget Speech 2024 LIVE Analysis: Nirmala Sitharaman announced employment-linked skilling through schemes as part of the PM's package. She said, "These schemes will be based on enrolment in the EPFO, focusing on recognizing first-time employees. First-timers will receive one month's wage upon entering the workforce in all formal sectors. A direct benefit transfer (DBT) of one month's salary, up to ₹15,000, will be provided in three instalments. The eligibility limit for this benefit will be a salary of ₹1 lakh per month, and it is expected to benefit 2.1 lakh youths."

Budget Speech 2024 LIVE Analysis: The FM said that agricultural research will be transformed to focus on raising productivity and climate resilient varieties. She also said that a comprehensive review of farm research setup to be undertaken for developing climate resilient crop varieties.

Budget Speech 2024 LIVE Analysis: Nine priorities for this year and coming years, as per Nirmala Sitharaman are:

Productivity and resilience in Agriculture

Employment and skilling

Inclusive HRD and social justice

Mfg & services

Urban development

Energy security

Infra

Innovation, R&D

Next generation reforms

Budget Speech 2024 LIVE Analysis: Finance minister Nirmala Sitharaman said, 'We need to focus on the garib, mahilaye, yuva, and annadata. For annadata, we announced higher MSP a month ago for all major crops, delivering on our promise. The PM Garib Kalyan Anna Yojana was extended for five years, benefiting more than 80 crore people. Administrative actions for the approval and implementation of various schemes announced in the interim budget are well underway.'"

Budget Speech 2024 LIVE Analysis: Five schemes to focus on 4.1 crore youth over 5 years with a central outlay of ₹2 lakh crore, Nirmala Sitharaman said.

Budget Speech 2024 LIVE Analysis: Finance minister Nirmala Sitharaman said, "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."

Budget Speech 2024 LIVE Analysis: Finance Minister Nirmala Sitharaman said, "The people of India have reposed their faith in the govt led by PM Modi and re-elected it for the historic third term."

Budget Speech 2024 LIVE Analysis: Finance Minister Nirmala Sitharaman begins presentation of her 7th Union Budget in Lok Sabha.

Budget Speech 2024 LIVE Analysis: Indian stock market is subdued ahead of the budget presentation and is under-performing their peers in Asia. Leading the losses are metal companies, state-owned firms and lenders today.

Budget Speech 2024 LIVE Analysis: Delhi Minister Atishi said, "We expect that Delhi will get ₹20,000 crores. The people of Delhi give ₹2 lakh crore and ₹25,000 as a central share of GST. We expect to get at least 10% of that. We have demanded ₹10,000 crore for infrastructure and ₹10,000 for MCD."

Budget Speech 2024 LIVE Analysis: Congress MP and LoP in Lok Sabha, Rahul Gandhi reaches Parliament ahead of Union Budget presentation by Finance minister Nirmala Sitharaman in Lok Sabha.

Budget Speech 2024 LIVE Analysis: AAP MP Sanjay Singh said ahead of the Budget presentation, 'In the last 10 years, crores of Indians have suffered from inflation. We will see what measures are taken to address it. Farmers have long been demanding MSP, and NDA allies are also calling for the revocation of the Agniveer Scheme. Employment, MSP, and inflation will be the key areas of focus. I can even reveal the Delhi budget now. For the past 9 years, Delhi has received no more than ₹325 crores, simply because the people of Delhi elected AAP.'"

Budget Speech 2024 LIVE Analysis: All Budget documents can be accessed using the 'Union Budget Mobile App'. The 'Union Budget Mobile App' can be downloaded on Android and iOS platforms. It can also be accessed from the Union Budget web portal. The documents are available in both English and Hindi.

Budget Speech 2024 LIVE Analysis: These are key numbers to watch for the first full Budget of Modi 3.0. Read here

Budget 2024 LIVE Updates: Finance minister Nirmala Sitharaman met President Droupadi Murmu before presenting the Budget in the Parliament. President Droupadi Murmu offered 'dahi-chini' (curd-sugar), which is considered auspicious, to Nirmala Sitharaman before the Finance minister left for Parliament.