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Finance Minister Nirmala Sitharaman is set to present her sixth Budget on February 1. However, this will be an ‘interim budget’ as the current government’s term is nearing its end and elections are on the horizon. Consequently, it’s unlikely that this Budget will introduce any significant policy changes. The next ‘full budget’ will be unveiled in July, following the formation of a new government after the Lok Sabha elections.
Finance Minister Nirmala Sitharaman expressed her hope that the citizens of the country will once again elect the BJP in the upcoming Lok Sabha elections with a strong mandate.
Budget 2024 live updates
Finance Minister Nirmala Sitharaman has presented the Union Budget for 2024. This marks her 6th time presenting the Budget in Parliament.
- She spoke about how India has grown in the past 10 years under PM Modi’s leadership, guided by the principle of “Sabka Sath, Sabka Vikas” (Everyone’s Support, Everyone’s Development).
- She highlighted that the benefits of development have started reaching the people widely and the country has found a new direction. In PM Modi’s second term, the government has further intensified its efforts.
- Sitharaman on benefits of Direct Benefit Transfer scheme DBT of Rs 34 lakh crore has led to savings of Rs 2.7 lakh crore for government, says Sitharaman.
- FM Nirmala added, "We hope that the people will continue to support our government for its remarkable work by giving it a strong mandate again".
- "Our young country has high aspirations, pride in its present and hope and confidence for a bright future. We expect that our govt based on its stupendous work will be blessed again by the people with a resounding mandate", FM Sitharaman.
- The Modi government is committed to comprehensive development for everyone. Sitharaman stated that the Centre is striving to make India a developed country by 2024.
- "We need to focus on - Garib, Mahilayen, Yuva and Annadata; Their needs and aspirations are our highest priorities" she added.
- Budget 2024: Garib Kalyan is Desh ka Kalyan, says Sitharaman.
- Poor, women, youth and farmers are four castes for our government.
- Minimum support prices for 'Annadata' (farmers) increased periodically, appropriately.
- In last 10 years, 25 crore people got freedom from multi-dimensional poverty, says FM.
- “The Skill India Mission has successfully trained 14 million young people, and provided upskilling and reskilling for 5.4 million individuals. In addition, 3000 new Industrial Training Institutes (ITIs) have been established. A significant number of higher education institutions have also been set up, including 7 Indian Institutes of Technology (IITs), 16 Indian Institutes of Information Technology (IIITs), 7 Indian Institutes of Management (IIMs), 15 All India Institutes of Medical Sciences (AIIMS), and 390 universities.”
- Sitharaman said that she hopes the country's people will again choose the BJP in the Lok Sabha elections with a resounding mandate.
- Finance Minister Nirmala Sitharaman stated that the Goods and Services Tax (GST) has unified the nation under ‘one nation, one market, one tax’. She further added that tax reforms have resulted in an expansion and deepening of the tax base. Average real income of people increased by 50%, FM Sitharaman further added.
- In the geopolitical landscape, international relations are growing increasingly intricate. A fresh global structure is taking shape in the aftermath of the Covid-19 pandemic. Despite the crisis triggered by the pandemic, India managed to steer its course effectively. Following a challenging period, India took on the responsibility of hosting the G20 summit.
- The government’s women empowerment programme is underscored by significant measures such as making Triple Talaq illegal and reserving one-third of legislative seats for women.
- The Finance Minister has announced that one crore households will receive up to 300 units of electricity each month through rooftop solarisation.
- FM plans to convert 40,000 rail bogies to Vande Bharat standards. The number of airports will double to 149. Indian carriers placed orders for 1,000 new aircraft.
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