Budget 2024 LIVE updates: Finance Minister Nirmala Sitharaman proposes new tax rate structure

Centre cuts customs duty on mobile phones, components to 15 pc; industry upbeat

Posted by: Poonam Singh

The government on Tuesday announced to reduce the basic customs duty (BCD) on mobile phones, printed circuit board assembly (PCBA) and mobile chargers to 15 per cent from the current 20 per cent.  Read More...

Union Budget 2024: What becomes cheaper and what’s costlier?

Posted by: Poonam Singh

With Finance Minister Nirmala Sitharaman announcing a major reduction in customs duty on cancer drugs and mobile phones, it is set to considerably bring down their prices in the market. The three cancer drugs are Trastuzumab deruxtecan, Osimertinib and Durvalumab. Read More...

Union Budget 2024: Govt to exempt three more cancer drugs from customs duty

Posted by: Poonam Singh

In a big relief to cancer patients, Union Finance Minister Nirmala Sitharaman, while presenting the Union Budget 2024, exempted customs duty on three cancer drugs. Read More...

Angel tax abolished on startups to boost local innovation

Posted by: Poonam Singh

In a major relief for the startup ecosystem, the government on Tuesday announced to abolish angel tax to further boost local talent and innovation. Read More...

Budget offers income tax sops for 4 crore salaried individuals

Posted by: Poonam Singh

Finance Minister Nirmala Sitharaman offered a bonanza for four crore salaried individuals and pensioners with the Budget announcements for 2024-25. Read More...

Union Budget 2024: Govt announces over Rs 3 lakh crore for schemes benefiting women & girls

Posted by: Poonam Singh

Focussing on women-led development, the government on Tuesday announced more than Rs 3 lakh crore for schemes benefiting women and girls. Read More...

Watch: New personal income tax rates revealed: Revised slabs under new tax regime

Posted by: Poonam Singh

#WATCH | On personal income tax rates, Finance Minister Nirmala Sitharaman says, "Under new tax regime, tax rate structure to be revised as follows- Rs 0-Rs 3 lakh - Nil; Rs 3-7 lakh - 5%; Rs 7-10 lakh-10%; Rs 10-12 lakh-15%; 12-15 lakh- 20% and above Rs 15 lakh-30%."… pic.twitter.com/Of19H3f8qR

— OTV (@otvnews) July 23, 2024

Union Budget: Mudra loan limit enhanced to Rs 20 lakh from Rs 10 lakh

Posted by: Poonam Singh

Finance Minister Nirmala Sitharaman announced an increase in Mudra loans from ₹10 lakh to ₹20 lakh for those who have repaid previous loans. The Pradhan Mantri Mudra Yojana (PMMY), which supports microcredit up to ₹10 lakh for non-farm sector enterprises, including agriculture-related activities, will continue to provide financial assistance to micro and small businesses. This measure aims to enhance support for the non-farming business community and MSMEs

Budget 2024: Customs duty cuts on gold, silver, and platinum

Posted by: Poonam Singh

Finance Minister Nirmala Sitharaman proposed reducing the basic customs duty on gold and silver to 6% and on platinum to 6.4% in the 2024-25 Budget. She also announced the removal of basic customs duty on ferronickel and blister copper, while increasing the duty on specified telecom equipment from 10% to 15%. The reduction in customs duties for gold, silver, and platinum addresses a long-standing demand from the gems and jewellery industry.

Major highlights from the proposed slash in customs duties, TDS to BCD in mobile phones

Posted by: Poonam Singh

Budget 2024: Rs 2.66 lakh crore for rural development, announces FM Nirmala Sitharaman

Posted by: Poonam Singh

Budget 2024: Rs 2.66 Lakh Crore For Rural Development, Announces FM Nirmala Sitharaman #UnionBudget2024 pic.twitter.com/AKOFvGL1Kx

— OTV (@otvnews) July 23, 2024

Union Finance Minister Nirmala Sitharaman unveils new tax rate structure

Posted by: Poonam Singh

New Tax Rate structure as proposed by FM Nirmala Sitharaman:

• 0-3 lakh: Nil
• 3-7 lakh: 5%
• 7-10 lakh: 10%
• 10-12 lakh: 15%
• 12-15 lakh: 20%
• Above 15 lakh: 30%

Union Budget 2024: Centre will assist in making Odisha an ultimate tourism destination, FM Nirmala Sitharaman

Posted by: Poonam Singh

Union Finance Minister Nirmala Sitharaman on Tuesday announced Centre’s commitment in making Odisha into an ultimate tourism destination in the country. Read More...

Union Budget 2024: Income Tax Act review, TDS reduction for e-commerce, and customs duty exemptions

Posted by: Poonam Singh

Finance Minister Nirmala Sitharaman announced a comprehensive review of the Income Tax Act 1961, aimed at reducing disputes and litigation, to be completed within six months. Additionally, the TDS rate for e-commerce operators will be lowered from 1% to 0.1%. Customs duties will be exempted on 25 critical minerals, with the Basic Customs Duty (BCD) on two of these minerals also being reduced.

Union Budget 2024: Boosting the Tourism Sector with Strategic Investments

Posted by: Poonam Singh

Fiscal deficit for FY25 estimated to be 4.9 pc of GDP: Sitharaman

Posted by: Poonam Singh

Finance Minister Nirmala Sitharaman announced that the fiscal deficit for 2024-25 is projected at 4.9% of GDP, with a goal to reduce it to 4.5% by 2025-26. Market borrowings are set at ₹14.01 lakh crore gross and ₹11.63 lakh crore net. Net tax receipts are estimated at ₹25.83 lakh crore, with total receipts at ₹32.07 lakh crore. Total expenditure for FY25 is projected at ₹48.21 lakh crore. 

Changes will be made to IBC to strengthen tribunals: FM Nirmala Sitharaman

Posted by: Poonam Singh

Finance Minister Nirmala Sitharaman said appropriate changes will be made to the Insolvency and Bankruptcy Code (IBC) and steps will be taken to strengthen tribunals in the country. She also proposed integrated technology platform for improving outcomes under the Code, besides additional debt recovery tribunals to be set up in the country.

(PTI)

Union Budget 2024 | Here are the latest highlights:

Posted by: Poonam Singh

Centre to set up 100 branches of India Post Payments Bank in North East

Posted by: Poonam Singh

The government on Tuesday announced that it will set up as many as 100 branches of India Post Payments Bank (IPPB) in Northeastern states of the country. The announcement was made by Finance Minister Nirmala Sitharaman in the Union Budget for 2024-25. IPPB has crores of accounts at present and operates through lakhs of branches.

(PTI)

Budget 2024: Major investments in infrastructure, advanced thermal plant, and strengthened debt recovery systems

Posted by: Poonam Singh

 

• Over 11 lakh crore rupees for capital expenditure for infrastructure development.
• A joint venture between NTPC and BHEL to set up 100 MW commercial thermal plant using advanced ultra supercritical technology.
• Integrated technology platform to be set up for improving the outcomes under Insolvency & Bankruptcy Code.
• Debt recovery tribunals will be strengthened & additional tribunals will be established to speed up recovery.

PM Awas Yojana-Urban 2.0 to address housing needs of 1 crore families with ₹10 lakh crore investment

Posted by: Poonam Singh

Union Budget 2024 for Rural Development: Here are the highlights...

Posted by: Poonam Singh

Govt to set up working women hostels: FM

Posted by: Poonam Singh

Presenting the Budget, Finance Minister Nirmala Sitharaman announced the establishment of working women hostels to increase women's workforce participation. This initiative, in collaboration with industries, will also include setting up creches, women-specific skilling programs, and promoting market access for women SHG enterprises. The focus remains on supporting the poor, women, youth, and farmers.

Government to launch internship scheme for 1 crore youth with stipend and assistance | Watch

Posted by: Poonam Singh

#UnionBudget2024 | The Government will launch a scheme to provide internship opportunities to 1 crore youth in 500 top companies with Rs 5000 per month as internship allowance and one-time assistance of Rs 6000, says Finance Minister Nirmala Sitharaman#UnionBudgetOnOTV

Watch… pic.twitter.com/b0IFJvdE4i

— OTV (@otvnews) July 23, 2024

Budget 2024 provides special attention to MSMEs and manufacturing

Posted by: Poonam Singh

WATCH: One-Month Wage Support for New Employees Proposed by Finance Minister

Posted by: Poonam Singh

#UnionBudget2024 | #WATCH: Finance Minister Nirmala Sitharaman proposes one month wage to all persons newly entering the workplace in all formal sectors. "Direct Benefit Transfer of one month salary in 3 instalments to first-time employees as registered in the EPFO will be up to… pic.twitter.com/22ABaiXEDu

— OTV (@otvnews) July 23, 2024

Union Budget 2024 | Here are the Budget 2024 highlights

Posted by: Poonam Singh

Government to provide financial support for higher education loans up to ₹10 lakhs

Posted by: Poonam Singh

Finance Minister Nirmala Sitharaman announced that the government will offer financial support for education loans up to ₹10 lakhs for students pursuing higher education in domestic institutions. This initiative aims to make higher education more accessible and affordable, enabling more students to achieve their academic and career aspirations.

Govt to launch three employment-linked schemes: FM

Posted by: Poonam Singh

The government on Tuesday said it will launch three employment-linked schemes.

National Cooperation Policy and agricultural initiatives announced in Budget 2024-25

Posted by: Poonam Singh

Finance Minister Nirmala Sitharaman announced a National Cooperation Policy aimed at the country's overall development. The Budget for 2024-25 includes promoting digital public infrastructure for agriculture with states' partnership and introducing the Jan Samarth-based Kisan Credit Card in five states. The government will enhance production, storage, and marketing of pulses, boost rural economy growth, and create employment opportunities. Additionally, funding will be provided for shrimp farming and marketing.

Union Budget 2024 highlights so far

Posted by: Poonam Singh

Budget provides Rs 1.48 lakh cr for education, employment, skill: FM

Posted by: Poonam Singh

The Union Budget for 2024-25 will provide Rs 1.48 lakh crore for education, employment and skilling in the country.

Presenting the Budget in the Lok Sabha, Finance Minister Nirmala Sitharaman said it will focus on employment, skilling, MSMEs and the middle class.

She added that the government has extended the PM Garib Kalyan Anna Yojana for five years which is benefiting 80 crore people of the country.

As mentioned in interim budget, there is a need to focus on poor, women, youth and farmers, the minister said.

She added that people have given unique opportunity to the Modi government to take India on the path of strong development, and all-round prosperity. 

(PTI)

'India's inflation continues to be low & stable moving towards the 4% target'

Posted by: Poonam Singh

'India's inflation continues to be low & stable moving towards the 4% target'#WATCH: Finance Minister Nirmala Sitharaman says, "The Prime Minister's package of 5 schemes & initiatives to facilitate employment, skilling and other opportunities for 4.1 crore youth over 5 years… pic.twitter.com/fCdTdp88Lz

— OTV (@otvnews) July 23, 2024

FM lays down nine priorities of Budget

Posted by: Poonam Singh

Finance Minister Nirmala Sitharaman on Tuesday announced nine priorities in the Union Budget 2024-25 for generating ample opportunities in the economy. The nine priorities include productivity, jobs, social justice, urban development, energy security, infrastructure, innovation and reforms.

Union Budget 2024: Focus on farmers, women, youth, and the poor

Posted by: Poonam Singh

Union Finance Minister Nirmala Sitharaman emphasized the government's commitment to supporting four key demographics: the poor, women, youth, and farmers. Announcing higher Minimum Support Prices (MSP) for all major crops, Sitharaman assured a 50% margin over cost, aiming to bolster agricultural income and deliver on long-standing promises to the farming community. This focus is part of a broader strategy to enhance economic stability and growth across these critical sectors.

Nirmala Sitharaman presents her 7th Budget, sets new record

Posted by: Poonam Singh

Finance Minister Nirmala Sitharaman presented the 2024-25 Budget, marking her seventh consecutive presentation and surpassing former Prime Minister Morarji Desai's record. This is the first Budget of the Modi-led government’s third term, reaffirmed by the people’s renewed faith in their leadership. Highlighting India’s robust economic growth amidst global policy uncertainties, Sitharaman emphasized the nation's stable inflation, which is approaching 4%, with core inflation at 3.1%. Despite global challenges, India's economy continues to shine, reflecting strong governance and effective economic strategies.

President Murmu’s customary ‘dahi-cheeni for FM Nirmala Sitharaman

Posted by: Poonam Singh

Ahead of presenting the Union Budget in Parliament, Finance Minister Nirmala Sitharaman met President Droupadi Murmu in the Rashtrapati Bhawan on Tuesday.  The President fed her 'dahi-cheeni', a ritual performed by elders in Indian families to bestow good luck before undertaking important tasks.

 

PM Modi in Parliament ahead of Union Budget 2024 presentation

Posted by: Pradeep Singh

Prime Minister Narendra Modi reached Parliament ahead of the presentation of the Union Budget by Finance Minister Nirmala Sitharaman today.

Finance Minister Nirmala Sitharaman carrying Budget tablet arrives at Parliament

Posted by: Pradeep Singh

Finance Minister Nirmala Sitharaman, carrying the Budget tablet, has finally arrived at Parliament. She will present the first Budget in the third term of the Modi Government.

Finance Minister Nirmala Sitharaman along with her team with the Budget tablet

Posted by: Pradeep Singh

#WATCH | Delhi: Finance Minister Nirmala Sitharaman along with her team with the Budget tablet outside the Ministry of Finance in North Block.

She will present the #UnionBudget today at around 11 AM in Lok Sabha.#UnionBudget2024 #UnionBudgetOnOTV

ANI pic.twitter.com/HaeP8pDlmO

— OTV (@otvnews) July 23, 2024

Budget 2024: Major reforms expected from the Union Budget today

Posted by: Pradeep Singh

The Union Budget is likely to focus on supporting consumption via higher allocation for the rural economy, taxation reforms, infrastructure push, thrust on local manufacturing, job and skill creation and an increase in production-linked incentive (PLI) allocation to more labour-intensive sectors. The spotlight would likely be on changes in the...Read More.

Finance Minister Nirmala Sitharaman arrives at the Ministry of Finance

Posted by: Pradeep Singh

Union Finance Minister Nirmala Sitharaman has arrived at the Ministry of Finance. She will present the Union Budget today at around 11 AM in the Parliament.

What taxpayers and common people expect from Union Budget 2024?

Posted by: Poonam Singh

Union Finance Minister Nirmala Sitharaman will present the Budget 2024-25 on Tuesday, amid high hopes for a pro-growth Budget which will fulfil the hopes and ambitions of the lower strata of society and the middle class. Once again, individual taxpayers are keeping their fingers crossed, hoping for income-tax reliefs in this highly inflationary environment. Read More...

Economic Survey highlights urgent need for structured elderly care policies in India

Posted by: Poonam Singh

India's rapidly aging population underscores the urgent need for a comprehensive policy framework to address the growing care demands of its elderly citizens, according to the Economic Survey tabled in the Parliament on Monday. Read More...

Economic Survey projects India's GDP growth at 6.5-7 pc in FY25

Posted by: Poonam Singh

The Economic Survey 2023-24, which was tabled in Parliament on Monday, projected India's GDP to grow at 6.5-7 per cent in 2024-25, down from a high of 8.2 per cent in the the preceding financial year, while cautioning that escalation of geopolitical conflicts may have bearing on growth prospects. Read More...

Unemployment rate declines to 3.2 pc, job & skill creation top priority: Economic Survey

Posted by: Poonam Singh

The labour market indicators have improved in the last six years, with the unemployment rate declining to 3.2 per cent in 2022-23, the Economic Survey 2023-2024 said on Monday. Read More...