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

Finance Minister Nirmala Sitharaman presented the Economic Survey 2023-2024 on Monday, preceding the introduction of Budget 2024. Today, she will present the Union Budget for the fiscal year 2024-25 in Parliament, marking the first budget of Prime Minister Narendra Modi's third term. The Monsoon session that began on Monday will consist of 19 sittings until August 12. During this session, the government is expected to provide tax relief under the new tax regime for the taxpayers.

New Update
Jul 23, 2024 14:27 IST

Union Budget: The New Tax Regime at a Glance



Jul 23, 2024 13:39 IST

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

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...

Jul 23, 2024 13:28 IST

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

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...

Jul 23, 2024 13:26 IST

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

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...

Jul 23, 2024 13:12 IST

Angel tax abolished on startups to boost local innovation

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...

Jul 23, 2024 13:11 IST

Budget offers income tax sops for 4 crore salaried individuals

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

Jul 23, 2024 13:06 IST

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

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

Jul 23, 2024 12:58 IST

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

Jul 23, 2024 12:46 IST

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

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

Jul 23, 2024 12:42 IST

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

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.

Jul 23, 2024 12:40 IST

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



Jul 23, 2024 12:38 IST

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

Jul 23, 2024 12:36 IST

Union Finance Minister Nirmala Sitharaman unveils new tax rate structure

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%

Jul 23, 2024 12:32 IST

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

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

Jul 23, 2024 12:30 IST

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

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.

Jul 23, 2024 12:28 IST

Union Budget 2024: Boosting the Tourism Sector with Strategic Investments



Jul 23, 2024 12:24 IST

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

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. 

Jul 23, 2024 12:23 IST

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

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)

Jul 23, 2024 12:21 IST

Union Budget 2024 | Here are the latest highlights:



Jul 23, 2024 12:19 IST

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

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)

Jul 23, 2024 12:16 IST

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

• 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.

Jul 23, 2024 12:10 IST

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



Jul 23, 2024 12:04 IST

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



Jul 23, 2024 12:02 IST

Govt to set up working women hostels: FM

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.

Jul 23, 2024 11:57 IST

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

Jul 23, 2024 11:56 IST

Budget 2024 provides special attention to MSMEs and manufacturing



Jul 23, 2024 11:53 IST

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

Jul 23, 2024 11:50 IST

Union Budget 2024 | Here are the Budget 2024 highlights



Jul 23, 2024 11:47 IST

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

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.

Jul 23, 2024 11:39 IST

Govt to launch three employment-linked schemes: FM

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



Jul 23, 2024 11:37 IST

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

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.

Jul 23, 2024 11:33 IST

Union Budget 2024 highlights so far



Jul 23, 2024 11:30 IST

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

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)

Jul 23, 2024 11:29 IST

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

Jul 23, 2024 11:27 IST

FM lays down nine priorities of Budget

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.



Jul 23, 2024 11:24 IST

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

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.

Jul 23, 2024 11:20 IST

Nirmala Sitharaman presents her 7th Budget, sets new record

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.

Jul 23, 2024 11:19 IST

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

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.

Jul 23, 2024 10:50 IST

PM Modi in Parliament ahead of Union Budget 2024 presentation

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

PM Modi in Parliament

Jul 23, 2024 10:01 IST

Finance Minister Nirmala Sitharaman carrying Budget tablet arrives at Parliament

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 at Parliament

Jul 23, 2024 09:31 IST

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

Jul 23, 2024 09:25 IST

Budget 2024: Major reforms expected from the Union Budget today

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.

Jul 23, 2024 08:59 IST

Finance Minister Nirmala Sitharaman arrives at the Ministry of Finance

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.

FM at Ministry of Finance office

Jul 22, 2024 18:40 IST

What taxpayers and common people expect from Union Budget 2024?

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...

Jul 22, 2024 18:30 IST

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

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...

Jul 22, 2024 18:25 IST

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

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...

Jul 22, 2024 18:21 IST

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

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...