Budget 2024 LIVE Updates: FM Sitharaman to Present the Union Budget 2024

By: WE Staff | Tuesday, 23 July 2024

1:00 PM:

Benefit for Women Tenants

Policy announced for rental housing markets establishes large residential complexes and ensures smooth renting. It will offer more benefits for women buyers.

12:50 PM:

Upskilling Youth through Internship Schemes 

Finance minister Nirmala Sitharaman has announced a five-year internship scheme partnering with 500 top companies, offering 1 crore youth a monthly allowance of Rs 5000 and one-time assistance of Rs 6000.

12:30 PM:

Changes in New Tax Regime Announced

FM proposes Standard deduction be increased to Rs 75,000 from Rs 50,000

Tax Rate Structure to Be Revised in New Tax Regime

• 0-3L Zero

• 3-7L 5%

• 7-10L 10%

• 10-12L 15%

• 12-15L 20%

• 15 & above, 30%

12:27 PM

​Move to Boost Entrepreneurship

In a bid to boost entrepreneurship in the country, the govt has announced that angel tax to be abolished

12:25 PM

Long-Term Capital Gains

The FM has announced that long-term capital gains on all financial and non-financial assets will incur a tax rate of 12.5%. Additionally, the limit of exemption for capital gains has been set at Rs 1.25 lakh per year.

12:20 PM

PM Awaas Yojana - Urban 2.0

Over the next 5 years, Urban 2.0 to offer 1 crore urban poor with investment of Rs 10 lakh crore along with Central assistance of Rs 2.2 lakh crore

12:10 PM 

E-Shram Portal

The New Budget facilitates numerous initiatives and services to Labour. Labour Formalisation Plan will be integrated with other portals in the E-Shram Portal

12:00 PM:   

FM estimates Fiscal deficit at 4.9% of GDP

11:50 AM: 

Model Skill Loan

25,000 students to benefit through the revised Model Skill Loan. Government guarantees loans up to Rs 7.5 lakh from the promoted fund.

11:45 AM: 

Women-Focused Schemes

Over Rs 3 lakh crore to be allocated for schemes made for women's development

11:40 AM: 

Major move for Indian women in the workforce

Finance Minister has announced that boosting women’s participation in the workforce will be a major priority going forward. The govt will aid working women by setting up hostels and building partnerships to organize women-focused skilling programs.

11:30 AM:

Govt’s focus to Remain on Women & Farmers

Reiterating what was said in the Interim budget, Nirmala Sitharaman says that Modi 3.0 will continue to focus on important sections of society – women, youth, poor and farmers

10:45 AM:

Based on the Economic Survey released yesterday, India’s female labour force participation rose to 37 percent in 2022-23 as compared to 23.3 percent in 2017-18. 55.6 percent of the Jan Dhan Yojana accounts are held by women, an indicator of women’s inclusion in baking.

10:40 AM:

Finance Minister Nirmala Sitharaman visited Parliament to present the Union Budget for 2024-25, presenting a tablet wrapped in a traditional 'bahi-khata' pouch and adorned with a golden national emblem.

10:30 AM:

Budget 2024 Live Updates: FM Nirmala Sitharaman Meets President Murmu

Finance Minister Nirmala Sitharaman has met President Droupadi Murmu ahead of presenting the Budget. President Murmu offered the customary 'Dahi-Cheeni' to the Finance Minister before she announces the Budget at 11:00 am.

Finance Minister Nirmala Sitharaman is all set to introduce the Modi 3.0 7th Union Budget (Budget 2024) in Parliament on July 23, 2024. The budget, which includes expenditures for pre-election government programs, was previously announced in February.

Earlier, PM Modi discussed the budget before Parliament. The comprehensive budget will focus on topics of importance such as women's empowerment, infrastructure, railways, defense, communications, healthcare, and vehicles among various others. The PDF of the newly elected budget will be available in Hindi and English on the central government's official website.

FM Sitharaman had earlier presented the Interim Budget 2024-25 on February 2024, focusing on housing, green energy, trains, tourism, healthcare, technology, and aviation. The budget prioritized women's welfare and empowerment, with a 28 per cent increase in higher education enrollment in the past decade and 43 per cent of students in STEM courses. This marked her fifth consecutive budget since 2019.

The interim budget covered government plans to establish the National Institute for Women's Health Research and include the Cervavac vaccine in its immunization program for girls aged 9-14. Women are also approved to own 70 per cent of rural housing under PM Awas Yojana and more.

Today's budget will showcase the newly opted schemes and initiatives for the year ahead to propel India's economy.