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Budget 2024 Live: Highlights

Nirmala Sitharaman has arrived in the Parliament and is all set for her 6th consecutive budget speech. Read More

Thursday February 1, 2024 12:14 PM , ummid.com News Network

Union Budget 2024 Live Updates: Union Finance Minister Nirmala Sitharaman concluded her budget speech.

Speaker Om Birla adjourned the proceeding of the House till 11:00 am Friday February 02, 2024.

12:00 pm

Nirmala Sitharam begins her budget speech. She is currently listing achievements of the Narendra Modi government in the last ten years.

"Economy is well. People are getting better and living better”, she said.

People are complaining of high inflation rate, the Finance Minister, in her budget speech however said, “Inflation is within the policy band.”

"Next five years will be of unprecedented development", she said.

Government plans to build more houses for poor and more medical colleges., Sitharaman said.

"The government plans to set up more medical colleges by utilising the existing hospital infrastructure under various departments. A committee for this purpose will be set up to examine the issues and make relevant recomendations", Sitharaman said.

Five integrated aqua parks will be established, and efforts will be made to help farmers with various existing and news schemes, the finance minister said.

“Every challenge of the 2014 era has been overcome by the economic and developmental policies of our government and good governance”, the Union Finance Mister said.

Special attention will be on developing and promoting tourism sector as per the global standards. “Projects for port connectivity, amenities will be taken up on islands, including Lakshadweep”, Sitharaman said.

Nirmala Sitharaman further said there will not be any change in the Income Tax rates.  
The fiscal deficit target — the gap between government’s revenue and expenses — for financial year 25 (FY25) is at 5.1% of the gross domestic product (GDP).

Sitharaman also announced 2 crore more houses under the Pradhan Mantri Awas Yojana – Gramin (PMAY-G).

Sitharaman said the coming days will be a golden era for tech-savvy youth. She said:

“A corpus of Rs 1 lakh crore will be established with 50-year interest free loan provided. The corpus will provide long term financing and re-financing with long tenures at low or nil interest rates. This will encourage the private sector to scale up research and innovation significantly in sunrise domains.”

09:30 am

Finance Minister Nirmala Sitharaman is set to present Union Budget 2024 today i.e. Thursday February 01, 2024 amidst high expectations but little hope as the government is not likely to do anything good on crucial fronts except making poll-time promises to lure voters.

Sitharaman will start her budget speech in the Lok Sabha at 11:00 am today.

Nirmala Sitharaman has arrived in the Parliament and is all set for her 6th consecutive budget speech. All her previous budgets have been miserably failed in delivering.

Sitharaman’s budget today will be interim as it comes just few month before the 2024 Lok Sabha Elections.

The interim budget is a short-term financial plan which seeks Parliament sanction for a grant in advance to meet the government's essential expenditure for the first four months of the new financial year. The full budget will be presented by the new government which will be formed after the 2024 General Elections likely in May this year.

Parliament’s Budget Session 2024

The Parliament’s budget session, the last one for the 17th Lok Sabha, started yesterday i.e. Wednesday January 31, 2024.

The session began with President Murmu’s customary address to the joint session of the Parliament.

The budget session will last only for 10 days and end on February 09, 2024.

Ahead of the Parliament’s budget session, suspension of 14 MPs – 11 members of the Rajya Sabha and 03 of the Lok Sabha were revoked.

As many as 146 opposition MPs were suspended in the historic first in the last budget. While the suspension of 132 MPs was only for the Winter Session 2024, the cases of 14 members were referred to their respective Privileges Committees.

Stay tuned for full budget speech, budget highlights, budget speech in PDF, ministry wise budget allocation, what is 2024 budget for powerlooms and textile, minority ministry budget allocation and all budget related information.

 

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