Budget 2024 Live Updates: According to experts, Nirmala Sitharaman may lower taxes for the general public in the Union Budget to increase consumption.
Live Budget 2024 Updates: Follow Kalkinews for the most recent information on Nirmala Sitharaman’s presentation of the Union Budget 2024.
Budget 2024 Live Updates:
After submitting the Economic Survey, Finance Minister Nirmala Sitharaman is scheduled to deliver the Union Budget 2024–25 today. It is the first budget of Prime Minister Narendra Modi’s third term, and it will be delivered in Parliament at 11 a.m. Nirmala Sitharaman will break the record set by former Prime Minister Morarji Desai, who presented five annual budgets and one interim budget during her tenure as finance minister, by presenting her seventh consecutive budget in that capacity. Manmohan Singh, the former prime minister, and Pranab Mukherjee both delivered five straight budget presentations.
The Budget is being presented in the Monsoon session this year as an interim budget was presented in February owing to the Lok Sabha elections. The monsoon session began on July 22 and will have 19 sittings till August 12. On the Budget, PM Modi said that it is an “important budget for Amrit Kaal. The budget will decide the direction for the next 5 years of our term. This budget will also become a strong foundation of our dream of ‘Viksit Bharat’.”
At what time will Nirmala Sitharaman present the Budget today?
Today at 11 a.m., Finance Minister Nirmala Sitharaman will submit the Budget to Parliament. According to experts, the budget will probably place more of an emphasis on capital spending for Indian Railways and roads.
How can you watch the Union Budget 2024 live?
Sansad TV will broadcast the Union Budget 2024 speech. Hindustan Times also provides coverage, highlights, and analysis of all the major Budget announcements.
What did the Economic Survey say about the state of the Indian economy?
According to the Economic Survey, despite geopolitical problems, the Indian economy remains resilient and is on a “strong wicket and stable footing”. According to the Survey, “The Indian economy is showing resilience in the face of geopolitical challenges and is on a strong wicket and stable footing.” Following the Covid pandemic, the economy has stabilized, with monetary and fiscal officials maintaining financial and economic stability.
What are the eight most important things that the Economic Survey highlighted?
The Economic Survey made the following eight key observations about the Indian economy:
Estimates for India’s FY GDP growth range from 6.5% to 7.0%.
For certain quality items, inflation is still rather high.
World conflicts will keep up with supply disruptions and will probably affect the Reserve Bank of India’s (RBI) position.
Local demand will continue to support industry growth in India, according to the Survey, which also stated that the private sector needs to increase its investment in R&D and recognize its role. India needs to concentrate more on local resources for investment and growth.
Increasing the competitiveness of Indian manufacturing is crucial, according to the Survey.
The nation’s urban unemployment rate dropped to 6.7%. January–March of 2024
What did the CEA say about the Indian economy?
Despite a number of possible risk factors to take into account, Chief Economic Advisor V. Anantha Nageswaran predicted that the Indian economy will reach the 7% growth objective set forth in the Economic Survey. While 7% is undoubtedly achievable, Anantha Nageswaran said that there are certain risk factors because to the way the monsoon has formed and the growing dangers associated with the developed world’s financial markets, which have an impact on India and the geopolitical situation.
“Indian inflationary pressures are under control, and the transmission of monetary policy is evident in the easing of core inflation,” he continued. Proactive monetary and fiscal policy actions reduced the amount that the inflation objective was deviated from. Every economic strategy will be considered; manufacturing and exports must coexist. We are unable to adopt a single strategy due to the manner that global factors are developing.
What did the Economic Survey say about China?
According to the Economic Survey, in order to increase international exports, India can either encourage foreign direct investment (FDI) or integrate into China’s supply chain. According to the Survey, concentrating on Chinese FDI appears to be the most promising option for increasing India’s exports to the US, just like East Asian economies have done in the past. It seems more profitable to rely on the FDI strategy than on trade.
What did PM Modi say on the Economic Survey?
“The Economic Survey highlights the prevailing strengths of our economy and also showcases the outcomes of the various reforms our Government has brought,” Prime Minister Modi wrote on X, the old Twitter. It also points up areas that need improvement as we work to create a Viksit Bharat.
Budget 2024 Live Updates: What healthcare Sector Wants from Union Budget
Live Budget 2024 Updates: “A key area of focus should be providing tax benefits for research and development in healthcare is crucial,” stated Chander Shekhar Sibal, Senior Vice President and Head of Healthcare Business at Fujifilm India. It would encourage creativity and the creation of state-of-the-art medical and diagnostic tools. Through the combination of resources and knowledge from both industries, public-private partnerships have the potential to further develop this ecosystem and result in better infrastructure and healthcare delivery.
Budget 2024 Live Updates: Budget throwback from 1957–58 when tax reforms were brought
Live Budget 2024 Updates: Tax reforms were established by TT Krishnamachari in his 1957–1958 budget, which included a wealth tax imposed on the entire value of a person’s personal possessions. This signaled a significant change in India’s tax laws. In 2015, the wealth tax was eliminated.
Budget 2024 Live Updates: What were Interim Budget’s allocations for railways?
Live Budget 2024 Updates: In the Union Budget 2023–2024 and the Interim Budget 2024–2025, Indian Railways received ₹2.40 lakh crore and ₹2.52 lakh crore, respectively. According to experts, the budget for today might prioritize safety, new carriages, new trains, and new lines.
Budget 2024 Live Updates: What are the income tax changes likely in the Union Budget?
Live Updates on Budget 2024: The Union Budget 2023–2024 allotted ₹2.40 lakh crore, while the Interim Budget 2024–2025 allotted ₹2.52 lakh crore to Indian Railways. Experts have stated that safety, new coaches, new trains, and new corridors may be the main priorities of today’s budget.
Budget 2024 Live Updates: What Indian Chamber of Commerce wants from Nirmala Sitharaman’s Budget
Live Budget 2024 Updates: It has been urged by the Indian Chamber of Commerce (ICC) that the government should rationalize customs duties across a range of industries. According to the report, these include lithium cells, steel, aluminum, and solar batteries in an effort to increase domestic manufacturing. “There is a need for customs duty rationalization in these specific sectors in a holistic manner,” stated Ameya Prabhu, President of the India Chamber of Commerce. There is a great deal of opportunity to grow home production and establish India as a global manufacturing base.
Budget 2024 Live Updates: ‘Economic survey shows robust growth rate’
Live Budget 2024 Updates: Co-founder and CEO of Primus Partners Nilaya Varma stated, “The political stability that followed Prime Minister Narendra Modi’s reelection has reinforced the recent economic survey’s strong 8.2% growth rate.” It does, however, draw attention to a crucial problem: the dearth of timely and comprehensive data on job creation, which makes it difficult to conduct an accurate employment market study. Despite this, the rise in jobs in commerce and services emphasizes the necessity of a labor market that is sustainable and a move away from agriculture and toward industry.
Budget 2024 Live Updates: PM Modi on how this Budget ‘is important for Amrit Kaal’
Live Budget 2024 Updates: “It is a matter of pride that a government has come to power for the third time after 60 years and will present the first Budget for the third time,” stated Prime Minister Narendra Modi. Our goal is to implement the promises I have been making to the citizens of this nation. For Amrit Kaal, this budget is significant. The next five years of our mandate will be determined by the budget that was approved today. Additionally, this budget will serve as a solid base for our vision of Viksit Bharat.”
Budget 2024 Live Updates: Edtech experts on what Nirmala Sitharaman should focus on
Live Budget 2024 Updates: “We hope that the upcoming Union Budget under the Modi 3.0 government will provide increased funding and support innovative educational solutions,” stated Monica Malhotra Kandhari, Managing Director of AASOKA. We can invest in blended learning and technology-driven approaches to change the face of education in India. Making learning interactive, interesting, and meaningful is emphasized in the National Education Policy 2020; more funding can assist realize this goal.”
Budget 2024 Live Updates: When is the Railway Budget? What to expect?
Live Budget 2024 Updates: Nirmala Sitharaman, the minister of finance, will present both the union budget and the railway budget. The budget may contain significant announcements about railways, such as adding more coaches, modernizing current trains, and creating new Vande Bharat categories.
