Budget 2024 Live Updates: Finance Minister Nirmala Sitharaman is presenting an interim budget – a short-term financial plan. The full-fledged budget will be presented by the new government after the Lok Sabha elections.
New Delhi:
Finance Minister Nirmala Sitharaman presented Union Budget 2024 in Parliament. This was an interim budget as it came just ahead of the Lok Sabha Elections.
This is Nirmala Sitharaman’s sixth Union Budget. The full-fledged budget will be presented by the new government that comes to power after the elections.
The interim budget – a short-term financial plan – seeks Parliament nod for a grant in advance to meet the government’s essential expenditure for the first four months of the new financial year.
The Budget Session of Parliament began yesterday with President Droupadi Murmu addressing the joint meeting of both Rajyya Sabha and Lok Sabha. The session will conclude on February 9.
Stock markets opened in green today, ahead of the interim budget.
Union Budget 2024 Live: Nirmala Sitharaman’s Budget Speech
Tax benefits for startups, investments made by sovereign wealth, pension funds to be extended to March 2025
No proposals to be made on tax rates – direct or indirect, says Nirmala Sitharaman
FY24 fiscal deficit seen at 5.8% of GDP
FY24 total expenditure revised to ₹ 44.90 lakh crore
FY 24 total receipts other than borrowings is ₹ 27.56 lakh crore
FY24 tax receipts are ₹ 23.24 lakh crore
FY25 fiscal deficit seen at 5.1%
Aim to reduce fiscal deficit to below 4.5% by FY26
FY25 gross market borrowing seen at ₹ 14.13 lakh crore
“FDI now means ‘First Develop India’,” said Finance Minister Nirmala Sitharaman, adding that bilateral trade treaties will be encouraged to boost FDIs on cards
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CREDIT: NDTV
