Budget 2024 Live Updates: Union Finance minister Nirmala Sitharaman is seen.
Budget 2024 Live Updates: Finance minister Nirmala Sitharaman is set to present the Union Budget 2024-25 today after tabling the Economic Survey. The Union Budget will be presented in Parliament at 11am- making it the first budget of Prime Minister Narendra Modi’s third term. This will be Nirmala Sitharaman’s seventh consecutive Budget as finance minister as she will surpass the record set by former Prime Minister Morarji Desai who presented five annual budgets and one interim budget as finance minister. Former Prime Minister Manmohan Singh presented five consecutive budgets in a row and Pranab Mukherjee also presented five consecutive budgets.…Read More
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 “important budget for Amrit Kaal. 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?
Finance minister Nirmala Sitharaman will present the Budget in Parliament today at 11am. Experts said that the Budget is likely to focus more on capital expenditure through roadways and Indian Railways.
How can you watch the Union Budget 2024 live?
You can watch the Union Budget 2024 speech on Sansad TV. You can also track all the key Budget announcements, highlights and analysis with Hindustan Times.
What did the Economic Survey say about the state of the Indian economy?
The Economic Survey described the Indian economy as being on a “strong wicket and stable footing” and resilient amid geopolitical challenges. The Survey said, “The Indian economy is on a strong wicket and stable footing (and) demonstrating resilience in the face of geopolitical challenges. The economy has consolidated post-Covid recovery with policymakers – fiscal and monetary – ensuring economic and financial stability.”
What are the eight most important things that the Economic Survey highlighted?
Here are the eight most important things that the Economic Survey said on the Indian economy:
- India’s FY GDP growth expected to be between 6.5% to 7.0%
- Inflation still remains high in some good items
- Conflicts in the world will continue to disrupt supplies and will likely influence the Reserve Bank of India’s (RBI) stance
- Local demand will continue to help industry growth in India, the Survey noted
- India must focus more and more on local resources for investment and growth, it said
- Private sector must also understand its responsibility better and invest more in research and development
- Making Indian manufacturing competitive is very important, the Survey said
- Urban unemployment rate in the country fell to 6.7% January-March 2024
What did the CEA say about the Indian economy?
Chief Economic Advisor V. Anantha Nageswaran said that the Indian economy will meet the 7 per cent growth target outlined in the Economic Survey although there are several potential risk factors to consider. Anantha Nageswaran said, “While 7 per cent is eminently doable, there are some risk factors given the way the monsoon has shaped up and financial markets risks are rising in the developed world with spillover effects on India and the geopolitical environment.”
He added, “Inflationary pressures in India are under control, Monetary policy transmission is evident in easing core inflation. Proactive fiscal and monetary policy measures helped limit deviation from the inflation target. No economic approach will be excluded, we need manufacturing, exports, all combined. The way global factors are unfolding we do not have the luxury to choose one approach.”
What did the Economic Survey say about China?
The Economic Survey said that India can either integrate into China’s supply chain or promote foreign direct investment (FDI) to boost global exports. The Survey noted, “Among these choices, focusing on FDI from China seems more promising for boosting India’s exports to the US, similar to how East Asian economies did in the past. Relying on the FDI strategy appears more advantageous than relying on trade.”
What did PM Modi say on the Economic Survey?
PM Modi posted on X (formerly Twitter), “The Economic Survey highlights the prevailing strengths of our economy and also showcases the outcomes of the various reforms our Government has brought. It also identifies areas for further growth and progress as we move towards building a Viksit Bharat.”
Follow all the updates here:
July 23, 2024 5:26 AM IST
Budget 2024 Live Updates: Key points from the Interim Budget in February
Budget 2024 Live Updates: In the Interim Budget earlier this year, the government proposed to increase capital expenditure outlay by 11.1 per cent to ₹11.11 lakh crore in FY25. Fiscal deficit for the year was pegged at 5.1 per cent of GDP, compared to 5.9 per cent in FY24. In the Interim Budget, Finance minister Nirmala Sitharaman said that the government aims to bring fiscal deficit below 4.5 per cent of GDP by FY26.
July 23, 2024 5:24 AM IST
Budget 2024 Live Updates: What education sector wants from the Budget
Budget 2024 Live Updates: Anil Somani, the Chairman of FOSTIIMA Business School- Delhi said, “We anticipate the government to consider introducing incentives like tax breaks on education loans or scholarships for high-achieving students. This will not only make high-quality education more accessible to people but will also position India as a preferred destination for higher education. Additionally, we expect the budget to focus on providing grants and subsidies which will majorly focus on diploma students and high-school dropouts.”
July 23, 2024 5:21 AM IST
Budget 2024 Live Updates: These are the stocks that would be in focus today
Budget 2024 Live Updates: Brokerage firm Anand Rathi said, “The approach of the budget is more likely to be to stimulate job creation through public investment in infrastructure, improving conditions of doing business, policy support for industry, reforming education and training systems to enhance job skills, and easier access to finance for entrepreneurs.”
JM Financial said the government is likely to announce an increase in infrastructure capital outlay which will affect stocks like KNR Construction, PNC Infratech , RITES, Ahluwalia Contracts.
July 23, 2024 5:17 AM IST
Budget 2024 Live Updates: What manufacturing sector wants from Nirmala Sitharaman
Budget 2024 Live Updates: S. Sunil Kumar, president of Henkel India, said, The government has played a crucial role through a series of strategic initiatives and policies, such as Make in India and PLI scheme. To accelerate it further, strategic focus areas suggestions that can be beneficial: making raw materials available at scale locally, competitive tax structures, development of industrial corridors, and investments in research and development. Continued emphasis on improving the ease of doing business, streamlining regulations, and ensuring a stable policy environment will be crucial for attracting long-term investments in the industry.”
July 23, 2024 5:11 AM IST
Budget 2024 Live Updates: A record for Nirmala Sitharaman today
Budget 2024 Live Updates: Today’s Budget presentation will be Nirmala Sitharaman’s seventh Union Budget as she becomes the first Finance Minister to present seven union budgets in a row. Morarji Desai held this record previously by presenting six consecutive budgets.
July 23, 2024 5:08 AM IST
Budget 2024 Live Updates: What Chief Economic Advisor V Anantha Nageswaran said on the Indian economy
Budget 2024 Live Updates: Chief Economic Advisor V Anantha Nageswaran said, “The Indian economy is on a strong wicket and stable footing, demonstrating resilience in the face of geopolitical challenges. The Indian economy has consolidated its post-Covid recovery with policymakers – fiscal and monetary – ensuring economic and financial stability. Nonetheless, change is the only constant for a country with high growth aspirations. For the recovery to be sustained, there has to be heavy lifting on the domestic front because the environment has become extraordinarily difficult to reach agreements on key global issues such as trade, investment and climate.”
July 23, 2024 5:03 AM IST
Budget 2024 Live Updates: When and where to watch the Union Budget 2024 presentation?
Budget 2024 Live Updates: Here’s how you can watch the live streaming of Union Budget 2024: 1. You can watch it on Doordarshan or Sansad TV. 2. You can also access live stream on Indian government’s official website of Budget (https://www.indiabudget.gov.in/) or the Ministry of Finance website (finmin.nic.in).
Follow Hindustan Times’ LIVE updates for more action on the Union Budget 2024
July 23, 2024 5:01 AM IST
Budget 2024 Live Updates: At what time will Union Budget 2024 be presented?
Budget 2024 Live Updates: The Union Budget will be presented today at 11am by Finance minister Nirmala Sitharaman in the Lok Sabha. Owing to Lok Sabha elections held this year, an interim budget was presented earlier this year in the February ahead of the polls. Today’s Budget will mark the first budget by the BJP-led NDA government since its reelection.
July 23, 2024 4:58 AM IST
Budget 2024 Live Updates: What Economic Survey said about Indian economy?
Budget 2024 Live Updates: The Economic Survey 2023-24 projected a real GDP growth of 6.5 to 7 per cent and said that for the economic recovery to be sustained, there has to be “heavy lifting on the domestic front as the “environment has become extraordinarily difficult to reach agreements on key global issues such as trade, investment and climate”.