Live Budget 2024 Updates: Under the new tax slabs, salaried employees can save as much as ₹17,500 on income tax. The previous tax system was left intact by the budget.
Live Budget 2024 Updates: In her seventh consecutive Union Budget for 2024–2025 as Finance Minister, Nirmala Sitharaman outlined the government’s top priorities. The productivity and resilience of agriculture, employment and skilling, inclusive human resource development and social justice, manufacturing and services, urban development, energy security, infrastructure, innovation, research and development, and next-generation reforms are the nine priority areas she listed for the government.
Highlights from Budget:
- With a ₹2 lakh crore budget, five projects targeting 4.1 crore youth over five years have been announced.
- Internship scheme for one crore youth in top companies over five years
- Employment-linked incentives, including one month’s wage support for first-time employees
- For MSMEs: Credit guarantee scheme and term loans for machinery purchase, technology support package for MSMEs
- SIDBI to open 24 new branches to serve MSME clusters
- Mudra loan limit increased from ₹10 lakh to ₹20 lakh
- Financial support for higher education loans up to ₹10 lakhs
- Provision for rural development at ₹2.66 lakh crore
- Special financial support of ₹15,000 crore for Andhra Pradesh
- New airports, medical facilities, and sports infrastructure for Bihar
- Inflation moving towards 4% target
- Over ₹3 lakh crore allocated for schemes benefiting women and girls.
Budget 2024 LIVE Updates: Reactions to FM’s speech
Live Budget 2024 Updates: “Women in the workforce will get a major boost with the FM’s assurance that Creches will be set up to help them; this is already a part of the Maternity Act 2017, it just needs to be implemented in Government Departments, PSUs and Private Companies with a sense of much greater urgency,” stated Amit Kishore Prasad, Founder & MD, SatNav Group.
Budget 2024 LIVE Updates: Reactions to FM’s speech
“The recent budget announcement by Finance Minister Nirmala Sitharaman has set a strong precedent for the future of education and skill development in India,” stated Ankur Goel, CEO and Founder of Skillible. The introduction of E-vouchers for one lakh students, the provision of a three percent interest loan subvention, and the ambitious goal to modernize one thousand industrial training facilities are all praised by Skillible.
Budget 2024 LIVE Updates: Reactions to FM’s speech
Live Budget 2024 Updates: “Several promising initiatives for the digital sector are presented in the Union Budget 2024-25,” stated Saurav Kasera, co-founder and CEO of Clirnet and DocTube. Eliminating the angel tax is a big step that will help startups and promote innovation. Technological breakthroughs will be propelled by the focus on research and development, especially through the Anusandhan National Research Fund.
Budget 2024 LIVE Updates: ‘Initiatives for first-time job market entrants essential’
Live Budget 2024 Updates: “The emphasis on initiatives to incentivize first-time entrants to the job market is essential,” stated Sashi Kumar, Head of Sales at Indeed India. To increase employment and the economy, the government’s initiatives to support entrepreneurs, upgrade infrastructure, and develop skills are essential.
Budget 2024 LIVE Updates: Real estate sector on FM’s speech
Live Budget 2024 Updates: “The finance minister announced several positive initiatives for the real estate sector, positioning cities as growth hubs and introducing a brownfield development framework,” states Ramesh Nair, CEO of Mindspace Business Parks REIT. Important projects include ₹2.2 lakh crores for urban housing, digitization of land records, revisions to stamp duty, 100 new industrial parks with adjacent worker housing, transit-oriented developments in 14 cities, and ₹11 lakh crores for capital expenditure on infrastructure.”
“The Union Budget 2024–25 presents a visionary approach to urban development, aligning with our commitment to creating sustainable and vibrant urban spaces,” stated Kamal Singal, Managing Director & CEO of Arvind SmartSpaces Ltd.
Managing Director and CEO of Mahindra Lifespace Developers Ltd., Amit Sinha, stated: “We applaud the emphasis on growth hubs and urban development. The PM Awas Yojana’s distribution of 10 lakh crore rupees, including interest subsidies, will significantly lower the cost of housing for the urban poor and middle class. All things considered, this budget has established a solid basis for sustainable urban development.”
Budget 2024 LIVE Updates: HDFC AMC’s Navneet Munot on FM’s announcements
Live Budget 2024 Updates: “The Union Budget aimed to strike a fine balance between fiscal prudence and growth impetus,” stated Navneet Munot, MD & CEO, HDFC AMC. The budget has prioritized maintaining SIP, or sustainable development, inclusive growth, and fiscal prudence. India might benefit from its demographic advantage if it places more emphasis on job creation and skill development. Equity markets will return their attention to the trend of earnings and other macroeconomic factors while they process the tax revisions. Maintaining the fiscal consolidation goal could be beneficial for the bond market. The budget has prioritized maintaining SIP, or sustainable development, inclusive growth, and fiscal prudence. Putting an emphasis on job creation will enable India to benefit from its demographic advantage.
