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Wednesday, Apr 17, 2024
IPL 2024

Budget Session LIVE: Both Houses adjourned for the day, to meet on Monday at 11 am

Budget Session LIVE: Finance minister Nirmala Sitharaman presented the interim Union Budget 2024 in Parliament.
Budget Session LIVE: Parliament to debate on Motion of Thanks to President's address.
Budget Session LIVE: Parliament to debate on Motion of Thanks to President's address.

Budget Session LIVE: Following union finance minister Nirmala Sitharaman's presentation of the interim Union Budget in parliament, lawmakers debating on the Motion of Thanks to the President's address on Friday. The Budget session began with President Droupadi Murmu addressing the joint session of Lok Sabha and Rajya Sabha....Read More

Sitharaman on Thursday presented the Narendra Modi government's interim Budget, a vote-on-account till new government forms after the Lok Sabha elections in 2024.

Budget 2024: Six key takeaways

1. Fiscal Prudence: Finance minister Nirmala Sitharaman announces a lower-than-expected fiscal deficit of 5.8 per cent (of GDP) in FY24, with a further reduction to an estimated 5.1 per cent in the coming fiscal year, surpassing earlier projections.

2. Rural Housing Initiative: No major rural transfers, but Sitharaman outlines plans to construct 2 crore more houses for the rural poor over the next five years under the ongoing PM Awas Yojana (Grameen). The government nears the target of achieving 3 crore affordable houses.

3. Increased Capital Spending: Capital spending for 2024-25 sees an 11 per cent boost, reaching 11.11 lakh crore, equivalent to 3.4 per cent of the GDP.

4. Tax Structure Unchanged: No changes announced in direct or indirect tax rates, maintaining the existing tax structure.

5. Income Growth: FM Nirmala Sitharaman notes a significant achievement with a 50% increase in the average real income of the people compared to 2014.

6. Sunrise Sectors Support: The government proposes a 1-lakh crore corpus dedicated to providing 50-year interest-free loans, specifically directed towards supporting and nurturing sunrise domains.

Follow all the updates here:
Feb 2, 2024 6:14 PM IST

Budget Session LIVE: Rajya Sabha adjourned

Rajya Sabha adjourned till Monday 11 am.

Feb 2, 2024 3:10 PM IST

Budget Session LIVE: Congress LoP in RS Mallikarjun Kharge speaks on vote of thanks

Leader of Opposition in Rajya Sabha and Congress President Mallikarjun Kharge speaks in Rajya Sabha during debate on motion of thanks to President's address

Prime Minister Narendra Modi was also present.

Feb 2, 2024 2:25 PM IST

Budget Session LIVE: Tharoor calls Union minister's remark on DK Suresh ‘unparliamentary’

"What the minister did was unparliamentary on two grounds. First, he raised an issue which has nothing to do with the house. It was not a statement which was made in the house. Secondly, he did so based on media reports which have not been verified. Neither of those is admissible in the house... Why was the minister allowed to misuse the time of the house in this manner?" Congress MP Shashi Tharoor said on Union Minister Pralhad Joshi talking about Congress MP DK Suresh's statement.

Feb 2, 2024 1:39 PM IST

Budget Session LIVE: Union minister slams Cong MP's 'separate nation' remarks

Parliamentary affairs minister Pralhad Joshi on Friday demanded an apology from Congress leader Sonia Gandhi over her party's Lok Sabha member D K Suresh demanding a separate nation comprising southern states by alleging bias in budgetary allocations.

Raising the issue during the Zero Hour in Parliament, Joshi said Congress member Suresh had demanded a separate nation comprising southern states. The remarks were an insult to the Constitution and its architect Babasaheb Ambedkar, he said.

"I condemn the statement of the Congress member and demand that the matter be referred to the Ethics Committee of the Lok Sabha," Joshi said.

Feb 2, 2024 1:09 PM IST

Budget Session LIVE: Congress, other oppn parties walk out of RS over Jharkhand issue

Opposition parties led by the Congress on Friday walked out from the Rajya Sabha over the Jharkhand governor not making interim arrangements for governance in the state after JMM leader Hemant Soren resigned as chief minister.

Leader of the Opposition in the House and Congress president Mallikharjun Kharge drew parallels with the happenings in neighbouring Bihar just a week back when Nitish Kumar had resigned as chief minister, his resignation being immediately accepted, he being asked to continue till a new government was formed and again being sworn-in as the chief minister, all in a matter of 12 hours.

But in Jharkhand, when Soren resigned on Wednesday, no interim arrangement was made, he said.

Feb 2, 2024 12:16 PM IST

Budget Session LIVE: INDIA bloc MPs stage walkout

INDIA alliance MPs walked out of Lok Sabha earlier today earlier today on the issue of Jharkhand.

Feb 2, 2024 11:45 AM IST

Budget Session LIVE: Shashi Tharoor raises issue of incidents of violence against doctors

Congress MP Shashi Tharoor in Lok Sabha raises the issue of incidents of violence against doctors while they perform their duties.

"...A recent survey by Indian Medical Association shows that 46.3% of doctors say that violence against doctors is the main cause of their stress. I urge the government to reconsider their stand and bring in legislation that will protest doctors and other healthcare workers in their workplace."

Feb 2, 2024 11:31 AM IST

Budget Session LIVE: Kharge questions Jharkhand governor role in the delay of CM oath-taking

The Leader of the Opposition in Rajya Sabha, Mallikarjun Kharge, raises concerns over the delay in the swearing-in of the Jharkhand Chief Minister.

Feb 2, 2024 11:25 AM IST

Budget Session LIVE: Kharge says the Congress party is always for a united India

Mallikarjun Kharge replied: “From Kanyakumari to Kashmir we are united. For India, Congress leader Indira Gandhi and Rajiv Gandhi have given sacrifices. However, if the Lok Sabha MP (DK Suresh) says he has not said so, it should not be discussed.”

Feb 2, 2024 11:15 AM IST

Budget Session LIVE: Piyush Goyal attacks Congress MP DK Suresh Kumar's 'separate country' remark

The Rajya Sabha MP Piyush Goyal raises Congress MP DK Suresh Kumar's 'separate country' remark in parliament. The leader of the Rajya Sabha has demanded an apology from Congress chief Mallikarjun Kharge for the statement.

Feb 2, 2024 11:05 AM IST

Budget Session LIVE: Parliament proceedings begin

Lok Sabha, Rajya Sabha start the day's proceedings.

Feb 2, 2024 10:27 AM IST

Budget Session LIVE: Opposition to raise Jharkhand issue in parliament

INDIA parliamentary leaders decided to raise the Jharkhand issue at 11 am in parliament

Feb 2, 2024 9:51 AM IST

Budget Session LIVE: How experts see interim Union Budget?

Venkatesh Raman Prasad, Partner, JSA Advocates and Solicitors:

“With the interim budget announcements, the overall outlook of the Government towards the EV sector looks positive. The Government has pledged support for the expansion and strengthening of EV manufacturing and charging infrastructure. Accordingly, the industry may expect continuity of incentives and formulation of new policies to drive growth in the sector. The Interim Budget also addresses the adoption of e-buses for public transport networks through payment security mechanisms. The details of the PSM mechanism will be awaited by the sector as this would largely support the rollout of e-buses in India.”

Feb 2, 2024 8:35 AM IST

Focus on digital public infrastructure is most welcome, says expert

Gaurav Jalan, founder & CEO, mPokket

“The emphasis on the continued growth of digital public infrastructure is most welcome. The government’s consistent push to capitalize on India’s momentum as an attractive investment destination bodes well for potential FDI inflows. The intention to create a conducive regulatory environment for MSMEs through appropriate financing, technologies and training will also provide a robust fillip to small enterprises and start-ups.

Besides farmers, women and the poor, the focus on youth via the training of 114 million youth and upskilling and reskilling of 5.4 million youngsters, as well as the establishment of 3,000 new ITIs, will help in transforming India into a catchment area for young talent. With 430 million loans worth Rs22.5 lakh crore sanctioned by the PM Mudra Yojana to support the entrepreneurial aspirations of the youth, it will boost both entrepreneurial and employment opportunities. Additional schemes such as the Fund of Funds and Start-up Credit Guarantee will also assist the youth and start-ups throughout India.”

Feb 2, 2024 8:33 AM IST

Disinvestment has not progressed as expected for FY 24: Expert

Lalit Kumar, Partner, JSA Advocates and solicitors

“The disinvestment has not progressed as expected for FY 24 despite robust Indian capital markets. Successful and robust disinvestments lead to good values, bringing quality scrips to the securities market and enriching retail investors' economic value. It generates funds for the government to fund its budget targets, a deficit on the other hand will hold up projects. Large public sector enterprises with substantial government holding going for disinvestment has several merits and brings new management if the disinvestment gets in new management also.”

Feb 2, 2024 8:31 AM IST

Rs. 1 lakh crore for interest-free loans emphasises the government's commitment to strengthening innovation and research: Expert

Abhimanyu Munjal, Jt. MD & CEO, Hero FinCorp

“The interim budget focuses on boosting holistic economic growth. Allocating Rs. 1 lakh crore for interest-free loans emphasises the government's commitment to strengthening innovation and research. Additionally, highlighting the role of digital public infrastructure shows a push towards formalising the economy. These measures support the organised financial services sector, enhancing lending, investments, and savings efficiency.”

Feb 2, 2024 8:13 AM IST

Budget Session LIVE: How experts see the announcements?

Nitya Sharma, Founder and CEO, Checkout Network, Simpl

The interim Union Budget 2024 aligns seamlessly with business expectations, offering a foundation of stability and predictability. Notably, the emphasis on supporting small businesses and MSMEs, particularly through initiatives such as Mudra Yojna loans, underscores a commitment to their growth. This strategic move is not merely about policy; it's a catalyst propelling these enterprises into the digital sphere, unlocking opportunities in the expansive and evolving online market. Simultaneously, policies towards enhancing disposable incomes, bolstering air infrastructure, and promoting tourism sites signal significant advantages for the start-up ecosystem. Additionally, the budget's emphasis on streamlining policies and offering training for MSMEs and start-ups will boost global competitiveness. Overall, the Interim Union Budget 2024 has acknowledged the intricacies of the business landscape and outlined a comprehensive framework that resonates with the real challenges and aspirations of businesses in our nation.

Feb 2, 2024 7:20 AM IST

Budget Session LIVE: What's there for common people?

• The average real income of people increased by 50 per cent, said FM Sitharaman

• Presumptive taxation thresholds increased:

For retail businesses - From 2 crore to 3 crore

For professionals - From 50 lakh to 75 Lakh

Feb 2, 2024 7:16 AM IST

Budget Session LIVE: Big takeaways- Push for greener future

• Commitment for ‘net-zero’ by 2070

• 1 crore households to get rooftop solarisation

• Electric vehicle manufacturing and charging centres will be encouraged

• Schemes for Bio-manufacturing and Bio-foundry to be launched

Feb 2, 2024 7:13 AM IST

Budget Session LIVE: Sitharaman's plans for the social health sector?

• 'Saksham Anganwadi and Poshan 2.0' for improved nutrition and early childhood development

• U-WIN launch will scale up Mission Indradhanush for enhanced immunization efforts

• Vaccination of girls aged 9-14 for cervical cancer prevention

• Ayushman Bharat will cover ASHA workers, Anganwadi Workers, and Helpers

Feb 2, 2024 6:38 AM IST

Budget Session LIVE: Big numbers from Nirmala Sitharaman speech

• FDI Inflow between 2014-23: USD $596 Billion

• 2x from 2005-2014

23.24 lakh crore tax receipts in 2023-24

30.03 lakh crore revenue receipts

• 50-year interest-free loan for capital expenditure to states to continue

• Total outlay of Rs.1.3 lakh crore

• Fiscal deficit in 2024-25 estimated to be 5.1% of GDP

Feb 2, 2024 6:19 AM IST

Budget Session LIVE: Nirmala Sitharaman presented the interim Union Budget on Thursday

Union finance minister Nirmala Sitharaman unveiled her last Budget or Interim Budget on Thursday before the 2024 Lok Sabha elections this year, announcing a double-digit boost to infrastructure spending and flagging the government's "golden moments" ahead.

News india news Budget Session LIVE: Both Houses adjourned for the day, to meet on Monday at 11 am