Budget 2024 Key Highlights Live Updates: Finance Minister Nirmala Sitharaman is set to present the Union Budget 2024-25 in the parliament today. This will be the first budget of Prime Minister Narendra Modi’s third term in the government. The budget 2024 is expected to provide focus on the government’s roadmap for ‘Viksit Bharat’ by 2047. The government is likely to maintain the path of fiscal prudence along with capex spending to help create jobs and targeted social sector spending with focus on improving access to physical, social and digital infrastructure are likely to be key themes. Stay tuned to our Budget 2024 Key Highlights live blog for the latest updates. 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.
Budget 2024 Key Highlights Live: Announcements on Capital gain taxes
Budget 2024 Key Highlights Live: Here are the announcements on Capital gain taxes
- Short term capital gain tax on certain financial assets revised to 20%
- Long term capital gain tax revised to 12.5% on Financial assets
- TDS rate on e-commerce operators to be cut to 0.1% from 1%
Budget 2024 Key Highlights Live: Cut in Custom Duties
Budget 2024 Key Highlights Live: FM Sitharaman announces cut in Custom Duties:
- Customs duties on gold, silver cut to 6%, platinum to 6.4%
- Lithium, Copper, Cobalt exempted from Custom Duty
- Expand the list of exempted capital goods used in manufacturing of solar cells, panels
- Reduce BCD subject to conditions on MDI for manufacturing of spandex yarn from 7.5% to 5%
- Exempt customs duty on manufacturing of connectors
- Exempt customs duty on Oxygen-fused copper
Budget 2024 Key Highlights Live: FY25 Fiscal Deficit projected at 4.9% of GDP
Budget 2024 Key Highlights Live: FM Sitharaman projects FY25 fiscal deficit at 4.9% of GDP as against 5.1% in Interim Budget. She says government is committed to reduce deficit below 4.5%.
- Expenditure for FY25 seen at 48.21 lakh crore
- Receipts for FY25 32.07 lakh crore
- FY25 Fiscal Deficit projected at 4.9% of GDP versus 5.1% in Interim Budget
- Aim to reach a fiscal deficit of below 4.5% next year
Budget 2024 Key Highlights Live: Industrial parks to be developed in or near 100 cities
Budget 2024 Key Highlights Live: FM announced that industrial parks will be developed in or near 100 cities. Here are the proposals:
- Investment-ready “plug and play” industrial parks to be developed in or near 100 cities
- 12 industrial parks sanctioned under National Industrial Corridor Development Programme
- Critical Mineral Mission to be set up for domestic production, recycling of critical minerals, & overseas acquisition of critical mineral assets
Budget 2024 Key Highlights Live: Package in a boost to skilling
Budget 2024 Key Highlights Live: FM Sitharaman announced a package in a boost to skilling. Here are the highlights
Skilling Programme and Upgradation of Industrial Training Institutes
- 1,000 ITIs to be upgraded in hub & spoke arrangements in 5 years
- Focus on outcome and quality in collaboration with states and industry
Internship in Top Companies
- 1 crore youth to be skilled by India’s top companies in five years
- 12-month Prime Minister’s Internship with monthly allowance of ₹5,000
Budget 2024 Key Highlights Live: FY25 Capex at ₹11.11 lakh crore
Budget 2024 Key Highlights Live: Finance Minister Nirmala Sitharaman keeps capex for FY25 at ₹11.11 lakh crore or 3.4% of GDP, same as announced in Interim Budget
Budget 2024 Key Highlights Live: Announcements for MSMEs
Budget 2024 Key Highlights Live: Here are the announcements for MSMEs:
- New mechanism for facilitating continuation of bank credit to MSMEs during their stress period
- Limit of Mudra loans increased from ₹10 lakh to ₹20 lakh
- Turnover threshold of buyers for mandatory onboarding on TReDS platform to be reduced from ₹500 crore to ₹250 crore
- Financial support for 50 multi-product food irradiation units in MSME sector
- E-Commerce Export Hubs to be set up in PPP mode to enable MSMEs and traditional artisans to sell their products in international markets
Budget 2024 Key Highlights Live: Revision of Model Skill Loan Scheme
Budget 2024 Key Highlights Live: FM Sitharaman proposes revision of Model Skill Loan Scheme to help 25,000 students every year. Here are the announcements:
- Setting up of working women’s hostels and creches in collaboration with industry
- Model Skill Loan Scheme to be revised to facilitate loons up to & ₹7.5 lakh with a guarantee from a government-promoted fund: expected to help 25,000 students every year
- E-vouchers for loans upto ₹10 lakh for higher education in domestic institutions to be given directly to 1 lakh students every year for annual interest subvention of 3% of loan amount
Budget 2024 Key Highlights Live: 3 schemes announced for ‘Employment Linked Incentive’
Budget 2024 Key Highlights Live: FM Sitharaman announces three schemes for employment-linked incentives. These schemes will be based on enrolment in the EPFO and focus on recognizing first-time employees.
Scheme A: First timers
First-timers to 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, to be provided in three instalments.
Scheme B: Job creation in manufacturing
Job creation in manufacturing sector to be incentivized through a scheme linked to the employment of first-time employees. Incentives to be provided to both employees and employers as per their EPFO contributions for the first 4 years of employment.
Scheme C: Support to employers
Reimbursement to employers up to ₹3,000 per month for 2 years towards their EPFO contribution for each additional employee. The eligibility limit for this will be a salary of ₹1 lakh per month, and it is expected to benefit 2.1 lakh youths
Budget 2024 Key Highlights Live: Announcements for Agriculture sector
Budget 2024 Key Highlights Live: Here are the announcements made so far for the agriculture and allied sectors:
- Provision of ₹1.52 lakh crore for the agriculture and allied sectors
- 10,000 bio research centres will be established
- Next two years, 1 crore farmers will be initiated into natural farming supported by branding and certification
- Vegetable production and supply chain, large clusters to be developed closer to consumption centres
- Financial support for shrimp breeding centres to be provided, export to be facilitated through NABARD
- Kisan Credit Cards to be launched in 5 states
- To release 109 varieties of 32 crops
- Will help Natural Farmers with verification and branding
- To ensure self-sufficiency in pulses and oil seeds6 crore farmers and their land will be brought into the farmer and land registry,
Budget 2024 Key Highlights Live: FM Sitharaman announces Budgetary priorities
Budget 2024 Key Highlights Live: FM Nirmala Sitharaman announces Budgetary priorities. These are –
- Productivity in Agri sector
- Employment and Skill Development
- Inclusive priority and Social Justice
- Manufacturing and Services
- Urban Development
- Energy Security
- Infrastructure
- Innovation and Research
- Next Generation Reforms
Budget 2024 Key Highlights Live: ₹2 lakh crore for 5 new schemes
Budget 2024 Key Highlights Live: FM Sitharaman announces ₹2 lakh crore for 5 new schemes. The focus will be on jobs and skilling of 4.1 crore youth.
Budget 2024 Key Highlights Live: India’s economy continues to shine in uncertain global economy, says FM Sitharaman
Budget 2024 Key Highlights Live: FM Sitharaman begins her Budget speech. She says –
- Global economy is still in the grip of uncertainty
- People have reposed faith and elected NDA government for the third time
- India’s economy continues to shine even in uncertain global economy
- India’s inflation continues to be low, stable
- Poor, woman, youth and farmer are focus areas of this government
Budget 2024 Key Highlights Live: FM Nirmala Sitharaman presents Budget 2024
Finance Minister Nirmala Sitharaman presents the Union Budget for the financial year 2024-2025 in the Lok Sabha.
Budget 2024 Key Updates Live: Cabinet approves Union Budget 2024-2025
Budget 2024 Key Updates Live: The Union Cabinet has approved the Union Budget for the financial year 2024-2025. This is the first full budget of the Modi 3.0 government. Finance Minister Nirmala Sitharaman will present the budget 2024 at 11 am in Lok Sabha. This will be her seventh straight Budget speech.
Budget 2024 Key Updates Live: Increase in retail investors in stock market calls for careful consideration: Economic Survey 2024
The Economic Survey 2024 tabled in the parliament on Monday raised concerns over the significant increase in the participation of retail investors in the Indian stock market, calling for careful consideration.
“This is crucial because the possibility of overconfidence leading to speculation and the expectation of even greater returns, which might not align with the real market conditions, is a serious concern,” the Economic Survey said.
Budget 2024 Key Updates Live: Trading strategy for Bank Nifty today
Budget 2024 Key Updates Live: Rahul Ghose, CEO of Hedged.in advises a low risk strategy in the Bank Nifty index that can be employed to play the budget day. Speaking on the Budget trading strategy for Bank Nifty options, Ghose recommends Cross Calendar Spread.
Here’s the budget trading strategy for Bank Nifty by Rahul Ghose:
Trade name:
Bank Nifty Cross Calendar spread
Trade Structure:
- Buy 51000PE August 28th expiry
- Sell 50500PE July 31st expiry
Trade rules:
The capital required in the trade is approximately ₹20,000. According to Ghose, this trade can be entered if Bank Nifty is between 52,500 and 51,500 on or before the budget day.
The maximum loss in the trade is ₹3,000 and the target in the trade should be 4-5% on the capital depending upon the time and individual risk appetite, he said.
Trade Modifications:
The trade is protected with a limited risk, but one can further bring down the risk by constantly selling weekly expiry puts of subsequent weeks.
For example: At the end of July, one can buy back the 31st July PE and sell the 7th August or week after that PE. Just make sure that you get at least ₹80 when you are selling the Puts, Ghose added.
Budget 2024 Key Updates Live: Where and how to watch Budget speech?
Budget 2024 Key Updates Live: Finance Minister Nirmala Sitharaman will present the Union Budget 2024 in the parliament shortly. You can watch the Budget speech live on Livemint’s YouTube channel here.
Budget 2024 Key Updates Live: Highlights of Economic Survey 2023-24
Budget 2024 Key Updates Live: Union Finance Minister Nirmala Sitharaman tabled the Economic Survey 2023-24 on July 22. Here are the key highlights from the Survey:
- Indian economy is on a strong wicket and stable footing, demonstrating resilience in the face of geopolitical challenges.
- India’s sustained post-Covid recovery, stable inflation, and a positive investment climate driven by both the public and private sectors.
- India’s real GDP in FY24 was 20% higher than the pre-Covid (FY20) levels, implying a 4.6% CAGR from FY20, despite a 5.8% decline in FY21.
- Real GDP growth for FY25 projected at 6.5% – 7.0% for FY25.
- Public investment has sustained capital formation in the last several years even as the private sector shed its balance sheet blues and began investing in FY22.
- Headline inflation rate is under control, supported by the Central Government’s timely policy interventions and the RBI’s price stability measures. However, elevated food inflation is worrisome.
- India’s inflation targeting framework should consider targeting inflation, excluding food. Higher food prices are, more often, not demand-induced but supply-induced.
- India would require significant job creation until 2036 (at an average of 8 million non-farm jobs per annum) to accommodate its growing workforce, emphasizing the need for strategic planning in employment generation.
- The fiscal balances of the central and state governments taken together have improved progressively despite expansionary public investments.
- Current Account Deficit stood at 0.7% of GDP in FY24, an improvement from the deficit of 2% of GDP in FY23.
Budget 2024 Key Updates Live: Key highlights from Interim Budget 2024
Budget 2024 Key Updates Live: Finance Minister announced an Interim Budget on February 1 ahead of the Lok Sabha elections 2024. Here are the key highlights from the Interim Budget:
- Fiscal deficit target for FY25 set at 5.1% of GDP
- Total receipts projected at ₹30.80 lakh crore; expenditures at ₹47.66 lakh crore
- Market borrowings set at ₹14.13 lakh crore
- Infrastructure spending increased to ₹11.1 lakh crore
- No changes to income tax rates
- 2 crore more houses to be taken up in next five years under PM Awas Yojana (Grameen)
- Under PM Fasal BimaYojana, crop insurance is given to 4 crore farmers
- 1 crore households to obtain 300 units free electricity every month through rooftop solarization
- Ayushman Bharat scheme to be extended to all ASHA workers, Anganwadi Workers and Helpers
Budget 2024 Key Updates Live: Sensex, Nifty open higher ahead of Budget 2024
Budget 2024 Key Updates Live: Indian stock market benchmark indices, Sensex and Nifty 50, opened higher on Tuesday ahead of the announcement of Union Budget 2024.
Budget 2024 Key Updates Live: Budget to focus on ‘Viksit Bharat’ by 2047
Budget 2024 Key Updates Live: The Budget 2024 is expected to provide focus on the government’s roadmap for ‘Viksit Bharat’ by 2047. While maintaining the path of fiscal prudence, the government is likely to focus on capex spending to help create jobs and targeted social sector spending. Budget is also expected to be themed on improving access to physical, social and digital infrastructure.
Budget 2024 Key Updates Live: FM Sitharaman to begin Budget speech at 11 am
Budget 2024 Key Updates Live: Finance Minister Nirmala Sitharaman will begin her Budget speech at 11 am in the Lok Sabha today. After presenting the Budget, Sitharaman and her Finance Ministry team will address the media on the Budget 2024.
Budget 2024 Key Updates Live: Budget 2024 to be Sitharaman’s 7th, Modi government’s 13th
Budget 2024 Key Updates Live: Union Finance Minister Nirmala Sitharaman will present her seventh consecutive Union Budget today in the Lok Sabha, the lower house of the Parliament, surpassing former FM Morarji Desai’s record. The Budget 2024 will be the first full budget of the National Democratic Alliance (NDA) government in its third term led by Prime Minister Narendra Modi. However, it will be Modi government’s 13th Budget since taking charge in 2024.
Budget 2024 Key Updates Live: FM Sitharaman to present Union Budget 2024 today
Budget 2024 Key Updates Live: Finance Minister Nirmala Sitharaman is set to present the Union Budget for the financial year 2024-25 in the parliament today. This will be the first budget of Prime Minister Narendra Modi’s third term in the government.