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Budget 2024 Live Updates: Current Year GST Growth Very Healthy, Says CBDT Chairman

Here's all latest updates from the Budget speech today.

<div class="paragraphs"><p>Finance Minister Nirmala Sitharaman (Source: PIB India website)</p></div>
Finance Minister Nirmala Sitharaman (Source: PIB India website)

Growth-Oriented Budget Puts Economy At The Centre, Says Ficci's Anish Shah

The interim budget 2024 is very growth-oriented and puts the economics at the center, according to Anish Shah, president of the Federation of Indian Chambers of Commerce and Industry.

“The budget puts economics in the center, includes no politics, not much of a populous measure, which has been the theme for the past budgets,” he told NDTV Profit on Thursday.

Opinion
Budget 2024: Growth-Oriented Budget Puts Economy At The Centre, Says Ficci's Anish Shah

Allocation Under Auto PLI Scheme Raised In Boost To Carmakers

The central government has increased allocation for a scheme that incentivises automobile manufacturing in India, even as it sets aside less cash for subsidising electric vehicles.

The interim budget for FY25 has allocated Rs 3,500 crore towards a production-linked incentive for automobiles and auto components, according to documents released by the Finance Ministry on Thursday. In FY24, the outlay stood revised to a mere Rs 484 crore.

Opinion
Budget 2024: Allocation Under Auto PLI Scheme Raised, FAME Subsidy Reduced

CBDT Chief On Addressing Taxpayers' Concerns

Tax department is trying to improve the relationship with the taxpayer with schemes such as faceless appeal and faceless assessment, says CBDT Chairman Nitin Gupta.

  • Urge taxpayers to honestly report taxes and help India become Viksit Bharat 2047

  • The tax department has embraced technology in a big way and that is paying dividends now

  • GST Return filing has gone up by 90%

  • The department is using big data to help analyse and level the playing field for the honest taxpayer

Current Year GST Growth Very Healthy: CBDT Chairman Nitin Gupta

FY25 targets are not conservative but realistic as the indirect tax receipts also include custom duties and excise duties, says CBDT Chairman Nitin Gupta .

  • Processing of returns has been very quick

  • 22% returns processed in one day

  • In the current year, we are growing at 20%, net of refunds.

  • And net 2.78 lakh crore refunds processed

CEA Nageswaran On Exports

"We aren’t assuming a big kicker from exports sector, given the uncertain global environment. We are expanding our basket of exportable goods and countries too," says Anantha Nageswaran, Chief Economic Advisor.

Expect Revenue Growth Of 12.5%: Revenue Secretary

Improving on FY24 revised estimate, the government had projected revenue to grow at the rate of GDP. With the GDP growth improving, we expect FY24 to see a revenue growth of 12.5%, Sanjay Malhotra, Revenue Secretary told NDTV Profit.

"In FY25, we are assuming a tax buoyancy of 1.1 which comes from an expected growth of 11.5%."

Borrowings To Come Down: DEA Secretary

It was not a surprise on govt borrowing. The path was laid out in 21-22. It has to come down. This year we are also seeing the borrowing come down in absolute numbers

7% GDP Growth Rate Realistic: DEA Secy Ajay Seth

The 7%+ GDP growth rate is a realistic number, Department of Economic Affairs Secretary Ajay Seth told NDTV Profit.

-The risks to GDP growth are external to our country, regarding commodity and petroleum prices.

-We feel the number 7%+ is a realistic number.

-Fiscal deficit path was announced in 2021-22. Government believes in taking on the challenge head-on and have a lesser reduction next near.

-The choice was whether fiscal deficit can be better than 5.9%, which is why it’s 5.8% (FY24).

FM Sitharaman's First Interview After Interim Budget With DD News | Watch

Issues With MNREGA Claims To Be Addressed: FM

MNREGA allocation based on on-ground demand, not any trend, says Sitharaman.

CAG has commented on problems with MNREGA claims in some states, which have to be addressed, she says

Fertiliser Subsidy Reduced Basis Current Rates: Somanathan

OMC investment requirements were assessed, and has accordingly it is being deferred to next year, says Finance Secretary TV Somanathan in response to a question from NDTV Profit's Janani Janarthanan.

On fertiliser subsidy reduction, Somanathan says the decision was taken since it is based on current rates and estimates, which is very different from earlier prices.

India-Led Trade Corridor On Track: Sitharaman

Going ahead with IMEC, though there is significant disturbance in the Red Sea area, says Sitharaman.

The agreement for India-Middle East-Europe Corridor was signed at the G-20 Summit in Delhi.

Need New Paradigm For Disinvestment: DIPAM Secretary

Need to have a new paradigm in terms of disinvestment, says DIPAM Secretary Tuhin Kanta Pandey.

"Don’t need to part with wealth in one stroke, can be done with a calibrated disinvestment strategy," says Pandey

1.1 Crore Pending Small Tax Demands Remitted

About 1.1 crore pending small tax demands being remitted, value at under Rs 3,500 crore, says Revenue Secretary Sanjay Malhotra.

Beneficiaries Of Rs 1 Lakh-Crore Fund To Be Done Through Stakeholder Process

Identification of sectoral beneficiaries of Rs 1 lakh-crore fund will be done through stakeholder process, says Economic Affairs Secretary Ajay Seth.

The interim budget has proposed a corpus to boost research and innovation in sunrise sectors.

Fiscal Plan Pitch For Ratings Upgrade

Every rating agency should take on board the bettering of the fiscal consolidation roadmap, says Sitharaman.

Analysts expect aggressive fiscal deficit target and other economic measures in the interim budget to prepare the ground for better sovereign ratings.

Rs 10,000 Crore Provisioned For Rooftop Solarisation

An outlay of Rs 10,000 crore has been provisioned for rooftop solarisation, says Finance Secretary TV Somanathan.

He says the government is working on funding contours for the urban housing scheme for the middle class.

CPSEs Generated Wealth For Investors: DIPAM Secretary

In 2021, listed 61 CPSEs and 16 PSBs had a combined m-cap of Rs 16 lakh crore, says DIPAM Secretary Tuhin Kanta Pandey, which has grown to Rs 58 lakh crore today, generating wealth for investors.

Interim Budget Precursor To Budget In July, Says FM

Largely kept "vote on account as vote on account", but showed our plans for July, says Sitharaman.

" (The interim budget) showed the sections we’ll focus on, where we’ll invest in July."

Tax Revenue Estimates Conservative: Finance Secretary

Centre’s tax revenue has increased 12.5% net of refunds, but states’ part has increased 16.5% in revised estimates due to difference in tax sharing, says Finance Secretary TV Somanathan.

- Tax revenue estimates realistic, but slightly conservative, he says.

- India’s debt-to-GDP ratio one of the lowest among G20 nations.

White Paper On Economic Performance To Be Tabled, Says FM

White paper on economic performance in the last 10 years compared to the previous 10-year period to be tabled, says Sitharaman.

Budget to provide boost to tourism, including spiritual tourism, she says.

Railway Corridors Synergizing Mobility: Sitharaman

Synergies between movement of people and goods highlighted through new railway corridors.

The Interim budget proposed setting up three new railway corridors.

Digital Infra Brining Economic Value: Says Sitharaman

Digital public infrastructure is almost a new factor of production that is bringing in value to the economy, says Sitharaman.

A high-powered committee will be set up to review challenges arising from fast population growth, she says.

Sitharaman Reiterates 4.5% Fiscal Target For FY26

The finance minister said the government is well on track to meet the 4.5% fiscal deficit mark for FY26. The target is part of a downward glide path for fiscal consolidation.

FM Starts Post-Budget Press Conference

"This budget is a statement that we have delivered on our policies and promises."

The interim budget before the 2024 General Elections was tabled in Lok Sabha earlier today.

- Budget processes have become transparent.

- Brought down fiscal deficit in spite of very challenging times.

Rural Welfare Plans Good For FMCG Sector: Parle's Mayank Shah

The budget creates opportunities for the FMCG sector to enhance infrastructure and improve distribution, facilitating a more extensive reach into the rural market, says Mayank Shah, Vice-President, Parle Products.

"The government's interim budget maintains continuity in policies, focusing on welfare and support for the 'Garib,' 'Mahilayen,' 'Yuva,' and 'Annadata' augurs well for FMCG sector. Focus on schemes such as the PM-KISAN SAMMAN Yojana and PM Gramin Awas Yojana, signal robust support for agriculture, rural economies, and increased spending. The sector is strategically poised to leverage the industry's potential, aiming to significantly strengthen the market share in these crucial areas."

R&D, New Age Tech Push To Boost Economic Growth: Accenture's Sandeep Dutta

Interim budget outlines several initiatives to sustain the country’s growth trajectory, says Sandeep Dutta, senior MD and lead - India Business, Accenture Plc.

"The focus on research and development and new-age technologies has the potential to not just accelerate our economic growth but also create new opportunities for talent from India at a global level,” says

FM Sitharaman To Address Post-Budget Press Meet | Watch

FM Nirmala Sitharaman will address the media after the presentation of the Union Budget 2024.

Markets Close Marginally Lower After Interim Budget

The S&P BSE Sensex and NSE Nifty 50 each closed 0.2% lower to 71,636.74 and 21,689.65, respectively, after the interim budget largely met market expectations on the government's borrowing and capex plans.

Meanwhile, Indian rupee strengthened 6 paise to close at Rs 82.98 against the U.S. dollar.

Budget 2024 Live Updates: Current Year GST Growth Very Healthy, Says CBDT Chairman
Budget 2024 Live Updates: Current Year GST Growth Very Healthy, Says CBDT Chairman
Budget 2024 Live Updates: Current Year GST Growth Very Healthy, Says CBDT Chairman

Energy Sector Hails Green Transport Push, Bio Gas Incentives

Call to strengthen e-vehicle ecosystem by supporting manufacturing and charging infrastructure and greater adoption of e-buses for public transport networks through payment security mechanism is a welcome move, says Raju Kumar, Energy Tax Leader, EY India.

"CBG (Compressed Bio Gas) units may also benefit from policy proposals such as financial assistance for aggregation in procurement of biomass and mandatory phased blending of CBG in CNG for transport and PNG for domestic purposes."

Government Spending Not Taking A Back Seat: Aditya Birla Sun Life AMC

Lower fiscal deficit shows government’s confidence in better tax collections, says A. Balasubramanian, managing director and CEO, Aditya Birla Sun Life AMC.

Incentives For Rural Populace To Have Lasting Impact: Dabur's Mohit Malhotra

The strategic decisions to enhance incentives for rural populace, particularly women, are expected to have a lasting positive impact, enhancing sentiments over the long term, opines Dabur India Ltd. CEO Mohit Malhotra.

Extending healthcare coverage under Ayushman Bharat to ASHA and Anganwadi workers, and expanding of the 'Lakhpati Didi' scheme's target to 3 crore women "will go a long way in empowering rural women and enhancing the quality of life in rural India, thereby ensuring sustained demand for branded consumer goods," says Malhotra.

Consumption Needs More Focus, Says Nadir Godrej

The government needs to do more to boost consumption at the bottom of the pyramid, says Nadir Godrej, Chairperson of Godrej Agrovet.

"Fiscal consolidation is good, but it's very important to focus on spending. If we’re spending on the right things, nothing is lost, so we shouldn’t focus on a smaller deficit," he says.

Infra Outlay Boost Bodes Well For Real Estate: Niranjan Hiranandani

The fiscal deficit target of 5.1% for FY25 will help "stimulate economic growth, stabilise the economy and reduce the risks of inflation", says Dr Niranjan Hiranandani, Founder, Hiranandani Group.

"The enhancement in infrastructure outlay by 11% will bode well for firming up the growth of residential, commercial and industrial real estate asset classes across the geographies," he says.

New railway corridors, and doubling of airports and ports corridors will have a multiplier effect on the real estate landscape, Hiranandani says.

Emphasis On Innovation Augurs Well: Kiran Mazumdar Shaw

An all encompassing growth focused interim budget for ‘Viksit Bharat’

The emphasis on research and innovation, bio manufacturing, green technology, robust infrastructure development and technology-driven digital transformation "augurs well for India to deliver on aspirational yet people-centric, inclusive development”, says Kiran Mazumdar Shaw, executive chairperson, Biocon.

The pre-election budget provides a roadmap for sustainable growth, she says.

Budget In Right Direction, Private Capex Needs To Step Up: Saurabh Mukherjea

Private market capex needs to step up, says Saurabh Mukherjea, founder and chief investment officer, Marcellus Investment Managers.

"From a country’s perspective, Budget was in the right direction. I cheer upon the fact that free market has to take over; right way to go," he says.

'Continuity Budget', Says White Oak's Prashant Khemka

The interim budget was a "continuity budget", says Prashant Khemka, founder of White Oak Capital Management, adding he does not anticipate any notable market reaction.

Rural Housing Push To Benefit Retail-Oriented NBFCs: L&T Finance

A strong push given to rural housing and agri-allied activities augurs well for the business model of retail-oriented NBFCs, says Sudipta Roy, managing director and CEO, L&T Finance Holdings.

"By presenting a fiscally prudent Budget, the government has created conducive conditions for the private capex cycle revival," he says.

Tax Relief For Manufacturers To End

The concessional corporate tax rate of 15% for manufacturing companies has not been extended, shows the Interim Budget document. Introduced in 2019, the concessional corporate tax rate of 15% was contingent upon commencing operations by the conclusion of March 2024. With this period coming to an end, tax rate for manufacturing companies will rise to 22%.

The end to corporate tax benefit will likely impact Deepak Nitrite Ltd., Aarti Industries Ltd., Clean Science and Technology Ltd., Vinati Organics Ltd., Maruti Suzuki Ltd., Tata Power Ltd. and Tata Chemicals Ltd.

Here's What Industry Leaders Have To Say On Budget

Pavitra Shankar, Managing Director, Brigade Group:

  • Indication that housing might be focused on in full Budget.

  • Will have to see how affordable housing converts to rentals.

Ameera Shah, Promoter and MD, Metropolis:

  • Innovation outlay a welcome move.

  • Hoping for healthcare sector to be moved to 0%-5% GST bracket in July.

Vivek Lohia, MD, Jupiter Wagons:

  • Steel, cement corridors will be decongested under new Budget schemes.

  • Capex-oriented businesses to see more investment.

Tax Collected At Source Cut Proposed 

Government proposes to reduce tax collected at source (TCS) on payments of up to Rs 7 lakh on overseas tours to nil from 5%.

Budget Positive For Bond Markets: HDFC AMC Chief

The stock market is driven by many factors other than budget, but the document does provides critical input to RBI on supply side and govt reforms, according to Navneet Munot, MD and CEO of HDFC Asset Management and the chairman of AMFI.

"Budget has brought positive news for bond markets. Bond markets has been offering good entry points over last couple of months," he says.

Capex Outlay Of Rs 11.1 Lakh Crore Is Historic, Says PM Modi

PM Modi says the government's target of spending Rs 11.1 lakh crore in capital expenditure for infrastructure building is historic and will put India in a "sweet spot".

"Capex has been boosted while keeping fiscal deficit under control," he says, pointing to the rise in capex while keeping fiscal deficit under control.

Budget Will Empower All, Guarantee Viksit Bharat By 2047, Says Modi

"I congratulate FM Sitharaman and her team. This budget strengthens the foundation of Viksit Bharat for 2047. It will guarantee our mission," says PM Modi.

This budget is a reflection of India's young aspirations and youth, says PM.

PM Narendra Modi Remarks On Budget| Watch

Growth Trajectory Favoured Over Rate: Abakkus' Sunil Singhania

The government has maintained fiscal prudence and has focused on trajectory rather than growth rate, says Sunil Singhania, Founder, Abakkus Asset Manager. Infrastructue outlay will help boost economy and the markets will wait for full-fledged budget for the FM to make strong statements, he says.

Singhania says disinvestment will not make much of a difference and the government's balance sheet is in a healthy state.

Fiscal Deficit Target 'Music To Ears Of Foreign Investors': Anand Rathi

Sticking to fiscal responsibility with a lower fiscal deficit which could be music to the ears of foreign investors and impending $25 billion bond inclusion in June as lower budget deficits and pared borrowings will help bring down yields, says Pradeep Gupta, co-founder and vice-chairman, Anand Rathi Group.

"It could possibly open the door for a ratings upgrade."

Four Focus Areas Of Budget Welcome: Aditya Birla Sun Life AMC

The interim budget focusses on fiscal consolidation, infrastructure spending, consumption and capital expenditure, says A Balasubramanian, Managing Director & CEO, Aditya Birla Sun Life AMC.

"Providing an interest free loan towards technology spending by the youth of our country is a positive for the growth momentum. Also, consumption would likely boost by focusing on the agri economy," he says.

It's A 'Blonde' Budget: Shankar Aiyar

The government will pitch better fiscal deficit and other metrics to rating agencies to make a case for an upgrade, according to Shankar Aiyar. This is reference to the government following the downward glide path for the fiscal deficit. Sitharaman has set a target of 5.1% for FY25.

"It's a blonde Budget," says Aiyar, adding that sound macros will be attractive for FPIs.

Tax Sops Likely In July Budget, Says EY India's Pranav Sayta

It is not a surprise that tax policy changes will be announced only in July, says EY India's Pranav Sayta. Sitharaman has not proposed any changes in tax policy, citing precedence.

Sayta expects some good news for taxpayers in the July budget.

Private Capex Growth To Take Time: Maneesh Dangi

Private capex boom seen in the 2000s will not happen soon as corporations will take time to scale up investments, says Maneesh Dangi, founder of Macro Mosaic Investing and Research. He also said credit subsidy, easy monetary policy will boost households to buy more.

Bet On Private Capex As Govt Reduces Borrowing Footprint, Says Shankar Aiyar

Reducing government’s footprint in bond market has made room for private borrowing, says Shankar Aiyar.

- Private capex is also haunted by sectoral definition of Budget document

- Level of capex is a very credible figure, because there’s only so much that can be executed

- There is a latent desire in the private sector to invest

Prudent Budget By A Confident FM: EY's Pranav Sayta

The interim budget is a prudent one and the government seems to be confident that growth will sustain, according to Pranav Sayta of EY India.

- FM seems to be betting that capex push on private sector will kick in stronger

- Government has been very prudent on the macros, a very conservative on the fiscal deficit front

- Funds will likely now be available for private capex

It Is A Bond Market Budget: ValueQuest's Ravi Dharamshi

The 11% growth in government capex is not a disappointment, says Ravi Dharamshi, Founder and CIO, ValueQuest Investment Advisors.

"There is credibility in the numbers presented in the Budget. It is more a bond market budget than an equity market budget. The mantle now moves to RBI. Central government can’t continue to do the heavy lifting on capex."

Sensex, Nifty Trade Flat After Interim Budget Speech

Benchmark indices Sensex and Nifty were trading flat shortly after Finance Minister Nirmala Sitharaman completed her Interim Budget speech.

Catch the latest updates from markets here.

Check out stocks in focus at Budget Buy-Sell Corner.

Markets Will Welcome Budget: Axis Bank's Rajiv Anand

Markets will likely be comfortable to work with the gross borrowing number for FY25, said Rajiv Anand.

- Corporate cashflows have been quite strong, funded by internal accruals

- Corporate balance sheets are very strong right now

- Corporate India will likely push the pedal on capex going forward

Positive On Capex, Fiscal Deficit, Needed More On Rural Economy, Says Rajiv Anand

The Budget shows the intent that fiscal deficit will be managed, says Rajiv Anand, Deputy MD at Axis Bank, adding that the fiscal deficit target of 5.1% for FY25 is a pleasant surprise, says Anand.

Capital expenditure increase is higher than increase in overall expense, which is positive, but would have liked to see more on bolstering rural income, says Anand.

Budget Focuses On Disinflation, Says Maneesh Dangi

Budget paves the way for pivot on monetary policy, Maneesh Dangi, founder, Macro Mosaic Investing and Research, says.

This is not a growth budget, but a disinflation budget, says Dangi.

Key Estimates For Revenue And Expenditure For FY25

- FY25 total receipts other than borrowing estimated at Rs 30.80 lakh crore.

- FY25 total expenditure estimated at Rs 47.66 lakh crore.

Tax Benefits For Startups, Funds Extended

Tax benefits for startups, investments made by sovereign wealth, pension funds to be extended to March 2025, announces Sitharaman.

- Tax exemption on certain income of some IFSC units to be extended to March 2025

Government To Withdraw Tax Demands Up To Rs 25,000

The government will withdraw direct tax demands of up to Rs 25,000 pending till FY10 for individual taxpayers, proposes Sitharaman. The Interim Budget also included a proposal to withdraw disputed direct tax demands up to Rs 10,000 till FY11-15.

The move is expected to benefit 1 crore taxpayers, says Sitharaman.

Tax Receipts Target Set At Rs 26.02 Lakh Crore

Tax receipts in fiscal 2025 seen at Rs 26.02 lakh crore, says Sitharaman.

- Focus on making taxpayers' experience smoother.

- Our taxpayer base has increased in the last 10 years.

- No changes in direct and indirect tax structures.

Budget 2024: FY24 Fiscal Deficit Seen At 5.8%, Market Borrowing To Be Rs 14.13 Lakh Crore

The fiscal deficit target for FY24 has been revised to 5.8% of GDP vs 5.9% earlier, says Sitharaman.

Fiscal deficit target for FY25 has been pegged at 5.1%, she says.

- FY24 total expenditure revised to Rs 44.90 lakh crore.

- FY 24 total receipts other than borrowings is Rs 27.56 lakh crore.

- FY24 tax receipts are Rs 23.24 lakh crore.

- Aim to reduce fiscal deficit to below 4.5% by FY26.

- FY25 gross market borrowing seen at Rs 14.13 lakh crore.

Budget 2024: FM Says Lakshadweep In Focus In Domestic Tourism Plan

Projects for port connectivity, amenities will be taken up on islands including Lakshadweep, says Sitharaman.

Budget 2024: Loan Provision For States Towing Reform Plans

Provision of Rs 75,000 crore as 50-year interest free loan proposed for milestone-linked reforms by state governments, announces Sitharaman.

Budget 2024: Bilateral Treaties To Boost FDI On Cards, Says FM

To encourage FDI, negotiating bilateral trade treaties with partner countries, says Sitharaman.

- FDI inflow during FY14-23 was $596 billion, says Sitharaman.

Budget 2024: Sitharaman Proposes Green Push In Mobility, Energy

Coal gasification and liquefaction capacity of 100 million tonnes to be set up by 2030, announces Sitharaman.

- Greater adoption of e-buses to be encouraged.

- New scheme of bio manufacturing, bio foundry to be launched.

- Blending of CNG and biogas will be mandated in phased manner

Budget 2024: Infra Outlay For FY25 Raised To Rs 11.11 Lakh Crore: Sitharaman

The government will spend Rs 11.11 crore in the next fiscal in infrastructure building, says Sitharaman.

- Infrastructure expenditure in FY25 projected to represent 3.4% of GDP, says Sitharaman.

Budget 2024: Sitharaman Shares Big Plans For Railways

40,000 rail bogeys to be converted to Vande Bharat standards, says Sitharaman.

Budget 2024: Government To Set Up Rs 1 Lakh Crore Fund For Innovation

Corpus of Rs 1 lakh crore with 50-year interest-free loan, providing long-term financing or refinancing with long tenures with low or nil interest rates encouraging private sectors to scale up research and innovations significantly in sunrise domains.

New scheme to be launched to strengthen deep tech for defence purposes, says Sitharaman. Private players will be encouraged for R&D in the defence sector.

Budget 2024: 'Lakhpati Didis' Scheme Target Raised To 3 Crore: Sitharaman

83 lakh self help groups with nine crore women are transforming rural socio-economic landscape, Sitharaman says.

- Success of self-help groups empowered 1 crore women to become ‘lakhpati didis’

- To enhance target for ‘lakhpati didis’ from 2 crore to 3 crore.

Budget 2024: Sitharaman Says More Investment Planned For Agriculture

- PM Kisan Sampada Yojana has benefited 38 lakh farmers, says FM Sitharman, adding that government will promote private, public investment in post-harvest activities.

- Application of nano DAP to be expanded in all agro-climatic zones.

- Efforts on to fight foot and mouth disease.

- Support programme for dairy farmers.

- Five integrated aqua parks will be set up, says Sitharaman, in the backdrop of seafood exports doubling since 2013-14.

- The government will launch strategy for self sufficiency in oilseeds building on 2020 initiative, says Sitharaman.

Budget 2024: Vaccination Programme Against Cervical Cancer Proposed

The government will encourage vaccination for girls aged 9-14 against cervical cancer, says Sitharaman.

- Benefits of Ayushman Bharat to be extended to all Asha, Anganwadi workers, says Sitharaman.

- Newly designed UWin vaccination platform will be rolled out expeditiously.

Budget 2024: Government To Launch Housing Programme For The Middle Class

The government will launch a scheme for deserving sections of middle class living in rented houses or slums, says Sitharaman.

- To help deserving sections of middle class to build their own houses

- To set up committee to make recommendations for setting up more hospitals

Budget 2024: FM Sets Goal Of Two Crore Houses In Five Years Under PM Awaas-Rural

The government is aiming to make two crore houses in next five years under PM Awaas Yojana - Grameen, says Sitharman.

Close to achieving target of 3 crore houses under PM Awaas Yojana - Grameen, she says, referring to the rural house building programme.

Rooftop solar project to give 1 crore households 300 units of free electricity per month, the FM says.

Budget 2024: FM Lays Down Roadmap For Viksit Bharat

Vision of Viksit Bharat is of prosperity, harmony with nature, and modern infrastructure, says Sitharaman.

- Government stands ready to assist States to develop aspirational districts

- Resource-efficient economic growth.

- Government to pay utmost attention to make Eastern part of nation powerful driver of India’s growth.

Budget 2024: Sitharaman Lists 'D-Trinity' For Aspirational India

Next five years will be years of unprecedented development, says Sitharaman.

- Our government will adopt economic policies that foster, sustain growth.

- Trinity of demography, democracy and diversity has potential to fulfil all aspirations.

- Aim for policies to improve productivity, while promoting inclusivity.

- Aim to take up next-generation reforms, build consensus with States.

Budget 2024: Inflation Under Control, Says Sitharaman

Proactive inflation management has helped keep inflation within the policy band, Sitharaman says.

"New world order is emerging after Covid-19 pandemic. India successfully navigated its way through challenges post pandemic," Sitharaman says.

Budget 2024: Sitharaman Says Digital India Crucial To Formalising Economy

The FM says rapid digitalisation has been instrumental for the Indian economy.

- Tax reforms have led to deepening, widening of tax base.

- Strengthening of financial sector has made savings, investments more safe.

- GIFT is creating robust gateway for financial capital investments.

Budget 2024: Infra Building Gathered Pace, Says FM

Infrastructure building has gathered pace, says Sitharaman.

- All forms of infrastructure being built at record time.

- All parts of country are active participants in economic growth.

Budget 2024: Farmer Support Extended To 11.8 Crore Beneficiaries: FM

Direct financial assistance provided to 11.8 crore farmers per year under PM Kisan Samman Yojana, says Sitharaman.

- PM Fasal Bima Yojana gives crop insurance to 4 crore farmers.

- 7 IITs, 16 IIITs, 7 IIMs, 15 AIIMS, 390 universities set up.

- Female enrolment in higher education gone up by 28% in 10 years.

Budget 2024: Mudra Yojana Loans Has Been Rs 22.5 lakh crore: FM

PM Mudra Yojana has issued 43 crore loans worth Rs 22.5 lakh crore, says FM Sitharaman, while sharing statistics on youth-focused initiatives of the Modi government.

Budget 2024: Skill India Mission Trained 1.4 Crore Youths, Says FM 

Prosperity depends on adequately empowering the youth, says Sitharaman.

- National Educational Policy introduced transformational reforms.

- Skill India Mission has trained 1.4 crore youths, upskilled 54 lakh people.

- 3000 new ITIs set up under Skill India Mission.

Budget 2024: FM Sitharaman Mentions MSME Support Programmes

PM Swanithi has provided credit for 78 lakh street vendors, says Sitharaman, adding that 2.3 lakh street vendors have received credit for the third time.

DBT of Rs 34 lakh crore under PM Jan Dhan led to savings of Rs 2.7 lakh crore for government, she says.

Budget 2024: Need To Focus On Poor, Women, Youth And Farmers: Sitharaman

Sitharaman says the government is focusing on four major groups – poor, women, youth and farmers.

The Finance Minister says 25 crore people have been elevated from multi-dimensional poverty in 10 years.

Budget 2024: FM Sitharaman Talks About Viksit Bharat Plan For 2047

The Modi government is working to make India Viksit Bharat, or a developed nation by 2047, says the Finance Minister.

- Previously social justice was mostly a political slogan'.

- Resources are distributed fairly.

- We are addressing systemic inequalities that had plagued our society.

Budget 2024: Provided Food Support To Poor, MSPs For Farmer, Says FM

Food support given to poor, MSPs for farmer, says FM Nirmala Sitharaman.

- Worries about food have been eliminated through free ration for 80 crore people.

- MSPs for produce of annadata are periodically increased appropriately.

- Our government is working with approach to development that is all-inclusive.

Inclusive Approach To Development: Sitharaman

Our young country has high aspirations, pride in present, hope in future, said Nirmala Sitharaman.

- Our humane, inclusive approach to development is a marked improvement

- Development measures in last 10 years have targeted every household

Young Country Has High Aspirations, Pride In Present, Hope In Future: Sitharaman

The Indian economy has witnessed profound positive transformation in last 10 years, says Finance Minister Nirmala Sitharaman.

"People of India are looking forward to future with hope. Government overcame several challenges in right earnest. Fruits of development started reaching people at scale. In second term, government doubled down on responsibilities. In second term, government doubled down on responsibilities. Our young country has high aspirations, pride in present, hope in future."

Nirmala Sitharaman Presents The Interim Budget

Finance Minister Nirmala Sitharaman has commenced the Modi 2.0 government's final budget speech in the Lok Sabha.

Lok Sabha Session Commences

MPs convene in the Lok Sabha for the presentation of the Union Budget by Finance Minister Nirmala Sitharaman.

Nirmala Sitharaman Tables The Interim Budget| Watch Here

Finance Minister Nirmala Sitharaman presents the Interim Budget in Lok Sabha and addresses the House.

Cabinet Approves Interim Budget

In its meeting ahead of the Interim Budget speech, the union Cabinet approved the document. Finance Minister Nirmala Sitharaman will present the document in Lok Sabha few minutes from now.

Manufacturing Sector Grows At Faster Pace In December

HSBC January Manufacturing PMI stood at 56.5, against 54.9 in December, showed data from S&P Global.

Budget 2024: Finance Minister Calls On President Droupadi Murmu

Finance Minister Nirmala Sitharaman, ministers of state for finance Bhagwat Kishanrao Karad and Pankaj Chaudhary, and senior officials from the finance ministry called on President Droupadi Murmu before presenting the Interim Budget.

Union Cabinet Meets Ahead Of Sitharaman's Speech

The Union Cabinet has convened in the Parliament before the Interim Budget is tabled in Lok Sabha. Finance Minister Nirmala Sitharaman will begin her Interim Budget speech at 11:00 a.m.

Emphasise On Rural Infra, Subsidies, CII Says

More emphasis should be put on rural infrastructure, CII President Designate Sanjiv Puri said in conversation with NDTV Profit's Tamanna Inamdar ahead of the Interim Budget.

The industry body supports the need for subsidy welfare measures, Puri said.

Catch the full conversation here:

Bajaj Auto Two-Wheeler Sales Jump, Escorts Kubota Dispatches Fall

Bajaj Auto Ltd.’s saw a 27% jump in two-wheeler sales to 3.08 lakh units in December with strong domestic market and momentum in exports.

Escorts Kubota Ltd.'s total dispatches to dealerships fell 7% to 6,185 units as rural sentiments were hit by delayed Rabi sowing and lower water reservoir levels, the company said in an exchange filing.

Catch the latest auto sales figures for January here.

Paytm Shares Tanks 20% On RBI Crackdown

Paytm shares dropped to the lower circuit of 20% after the Reserve Bank of India imposed severe restrictions on the Paytm Payment Bank.

Budget 2024 Live Updates: Current Year GST Growth Very Healthy, Says CBDT Chairman

Budget 2024: Sensex, Nifty Open Higher Ahead Of Sitharaman's Speech

Benchmark indices Sensex and Nifty opened higher ahead of the Interim Budget speech by Finance Minister Nirmala Sitharaman on Thursday.

Broader market indices hit fresh record highs on open, with Nifty Midcap 150 hits at 17,937 and Nifty Smallcap 250 at 16,119.

Catch the latest updates on markets here.

Opinion
Stock Market Today: Sensex, Nifty End Volatile Budget-Day Session Lower As L&T, Bharti Airtel Lose

Budget 2024: Finance Minister Nirmala Sitharaman Arrives At Parliament

Finance Minister Nirmala Sitharaman arrived at the Parliament on a rain-soaked day in the national capital. She will table the Interim Budget in Lok Sabha at 11:00 a.m.

Budget 2024: Measures To Boost Rural Economy Expected

The Interim Budget is expected to prioritise boost to rural economy, which is struggling with inflationary pressures and climate change, among other factors.

Agriculture and rural employment related schemes could see some favourable announcements.

Budget 2024: Stocks In Focus Ahead Of Budget

Traders will watch infrastructure stocks during the Interim Budget, with government's focus on the sector going into the big day.

Rural-focussed firms and state-owned companies will also be on the market watchlists today as wider expectations are of sops to boost the rural economy.

Read here how markets have fared around budgets in the past.

Budget 2024: Economy In Focus, Critical Sectors May Benefit

Finance Minister Nirmala Sitharaman is expected to keep economic prudence front and centre in her budget speech today. Crucial sectors like agriculture and manufacturing are likely see announcements with emphasis on job creation and demand.

The government may present an aggressive fiscal deficit target in the Interim Budget today; analysts believe the document to reach for peg a goal in the range of 5.2% to 5.9%. India's fiscal deficit expanded to 55% of the budgetary target in the first nine months of fiscal 2024.

In the run up to the Interim Budget, stakeholders have called for simplifying the tax payments. While significant changes in tax slabs may not be on cards yet, maintain income tax rate stability, tighten enforcement, and improve compliance to minimise disputes, EY has pointed out.

Budget 2024: Sitharaman To Table Interim Budget At 11 AM

On the cusp of 2024 Lok Sabha elections, Finance Minister Nirmala Sitharaman will take the floor today to present her sixth budget in a row — a feat managed only by Morarji Desai before her.

This will be an Interim Budget, the last of Modi 2.0 government. The Parliament will convene once again later this year, maybe in July, after the next regime takes over to consider and approve a full-fledged iteration of the crucial document.

Sitharaman's budget speech at 11:00 a.m. today is expected to be light on big announcements. while presenting an assessment of the past 10 years and roadmap for the days to come.