Interim Budget 2024 Live Updates: Hopes High Ahead of Polls

Sitharaman announced the Divyang (Persons with Disabilities) and transgender individuals Empowerment Scheme, emphasizing inclusion. By addressing the particular difficulties these communities experience, this program demonstrates the government's commitment to leaving no one behind. The program seeks to empower transgender and Divyang people by facilitating their access to work, education, and general societal inclusion.

The PM Vishakarma Yojana, which is intended to provide comprehensive assistance to craftsmen and craftspeople, was again emphasized by the finance minister. This program acknowledges the value of maintaining and advancing traditional crafts, which supports the general expansion and well-being of the artisan community.

The PM JANMAN Yojana, a focused program that addresses Particularly Vulnerable Tribal Groups (PVTGs), was explained by Sitharaman. In keeping with the government's commitment to inclusive growth, this particular program seeks to improve neglected areas by offering possibilities for socio-economic development and customized support.

Sitharaman mentioned that 2.3 lakh street sellers had been given credit for the third time out of all beneficiaries, demonstrating the effectiveness and longevity of the PM SVANIDHI program. The fact that loan aid has been provided repeatedly highlights the ongoing benefits to street vendors' livelihoods.

Union Finance Minister Nirmala Sitharaman revealed that loan assistance has been offered to 78 lakh street sellers nationally, a testament to the program's outstanding success. PM SVANIDHI is a flagship initiative that focuses on street vendors. Sitharaman emphasized the significance of PM SVANIDHI during the interim Budget presentation for 2024–25, stressing its role in supporting the street vending community financially and promoting their sustainable growth.

The Finance Minister referred back to the momentous statement made during the G20 conference in New Delhi on the margins of the India-Middle East-Europe Economic Corridor. Together with other world leaders, Prime Minister Narendra Modi unveiled an unprecedented endeavor combining the US, Saudi Arabia, the UAE, France, Italy, Germany, and India. By creating dependable and affordable cross-border ship-to-rail transit networks, the corridor hopes to improve the transhipment of products and services between continents.

She emphasized how it may promote economic growth by enhancing connection and integration between Europe, the Middle East, West Asia, and Asia. The Finance Minister emphasized the initiative's visionary nature by citing backing from international leaders, including as US President Joe Biden.

FM Sitharaman emphasized that India successfully navigated global crises, handling topics including high inflation, interest rates, low growth, public debt, and climate change. India presided over the G20 during the Covid-19 pandemic. She spoke on the new global order that is developing and gave India credit for fostering international agreement on solutions, highlighting the country's fortitude and leadership.

Sitharaman presented her vision for a successful India that is in tune with nature, has modern infrastructure, and provides chances for all of its residents when speaking to the Lok Sabha. She expressed confidence in India's past achievements and proclaimed the next five years as a golden time for extraordinary growth, in line with the goal of building India by 2047.

The India-Middle East-Europe Economic Corridor (IMEC) was highlighted by Finance Minister Nirmala Sitharaman as a strategic and economic "game changer" during her interim budget statement. She described the corridor as a historic undertaking on Indian soil, citing Prime Minister Modi's hope that it will serve as the foundation for global trade for decades to come.

According to Sitharaman, the plan is compliant with Prime Minister Narendra Modi's declaration of the Pradhanmantri Surydaya Yojana's launching. The ambitious goal is to lower electricity costs for the middle class and impoverished by installing rooftop solar panels on one crore homes. During the historic Pran Prathishta of Ram Mandir in Ayodhya on January 22, Prime Minister Modi stated that this effort helps households and also helps India become self-sufficient in the energy sector.

The initiative's potential impact was emphasized by the finance minister, who said that households may save as much as Rs 15,000 to Rs 18,000 a year by selling extra electricity to power distribution companies and receiving free solar power. The government's larger goal of encouraging self-reliance in the energy sector is in line with the focus on converting families into power-generating units.

Finance Minister Nirmala Sitharaman announced the central government's commitment to promoting rooftop solarization and giving free electricity to homes, which is a big step towards decentralizing power generation. Sitharaman revealed that one crore homes would have the chance to enjoy up to 300 units of free electricity each month when he presented the Interim Budget in the Lok Sabha.

The finance minister expressed optimism at the end of her budget address, reiterating the government's commitment to promoting inclusive growth and development.

She also disclosed that women entrepreneurs had received 34 crore Mudra Yojana loans, fostering financial inclusion and empowerment. "Women entrepreneurs have received 34 crore Mudra Yojana loans," declared the Finance Minister.

"We have aimed to provide housing for all, water for all, and cooking gas for all in the last ten years," Sitharaman said, highlighting the all-encompassing strategy for meeting fundamental requirements and raising standards of living.

She reaffirmed the government's dedication to inclusive governance, characterizing Prime Minister Modi's leadership as "secularism in action."

Sitharaman highlighted the accomplishments in skill development, pointing out that 1.4 crore youngsters have been taught under the Skill India Mission, which has helped them become more employable and empowered.

The Finance Minister also emphasized the benefits of Direct Benefit Transfer (DBT), stressing that the PM Garib Kalyan Yojana, a welfare program for the underprivileged, now has more funding available to it thanks to savings made through DBT channels. In her Budget speech, Sitharaman said, "With the pursuit of Sabka Saath, the government has assisted 25 crore people to get freedom from multidimensional poverty in the last 10 years."

In response to worries over food security, Sitharaman declared that 80 crore people would receive free rations, allaying their concerns. The Finance Minister declared, "Free rationing for 80 crore people has eliminated the worries about food."

While acknowledging the difficulties brought about by the once-in-a-century epidemic, Sitharaman pointed out that the nation successfully overcome them, advancing its efforts to create an Atmanirbhar Bharat (self-reliant India) dedicated to Panch Pran and establishing strong groundwork for the Amrit Kaal. According to Sitharaman, "The country overcame the challenges of once in a century pandemic to clang stride towards Atmanirbhar Bharat committed to Panch Pran and laid solid foundations for the Amrit Kaal."

As part of the fiscal year's interim budget, Sitharaman emphasized the government's commitment to inclusive development with the motto "Sabka Saath, Sabka Vikas, and Sabka Vishwas." "Our government strengthened its vision of Sabka Saath, Sabka Vikas, and Sabka Vishwas in the second term," Sitharaman said, reiterating the administration's ongoing dedication to ensuring the welfare of all citizens.

Finance Minister Nirmala Sitharaman said that the Indian economy has changed significantly for the better during the past ten years during the interim budget statement on the floor of the Parliament. "The last ten years have seen a profound positive transformation in the Indian economy," Sitharaman stated in the Parliament at the presentation of Budget 2024.

The cost of fertilizer subsidies should decrease with the widespread use of nano DAP. A 50 kg bag of traditional DAP costs 50–55% more than a bottle of nano DAP. Typically, 18–20% of the total fertilizer subsidy budget is allocated to the subsidy of "phosphatic" fertilizers.

The start-up tax benefits period will run through March 31, 2025.

For an additional year, investments made by pension funds and sovereign wealth funds will not be subject to taxes.

A few unfulfilled direct tax demands will be removed by the government.

"I do not propose to make any changes to taxation and proposed to retain same tax rates for direct and indirect tax rates including import duties"

According to FM Sitharaman, our government would provide a comprehensive plan for pursuing Viksit Bharat in the July full budget.

FM Nirmala Sitharaman: FY25 capital expenditure goal is set at Rs 11.1 lakh crore, up 11.1%.

FM said the government will push for bilateral accords with international partners in the spirit of 'First Develop India'.

FM: 40,000 railway bogies will be reconditioned to Vande Bharat norms. Airports will be doubled to 149. Indian carriers have ordered 1,000 additional aircraft.

"Our government will enact economic policies that will promote and maintain growth, enable equitable and sustainable development, raise productivity, give everyone the chance to realize their potential, and help create the resources needed to fuel investments and realize dreams. The government will adopt next-generation reforms and work with interested parties to reach an agreement for their successful execution.

The amount spent on defense will rise by 11.1% to Rs 11,11,111 crore, or 3.4% of GDP.

"India as a G20 host showed forward way and built consensus for solutions for problems being faced by the world"

Our government intends to use the current medical infrastructure across multiple departments to establish more medical colleges: FM

FML Declaring Triple Talaq unlawful and allocating one-third of legislative seats to women serve to emphasize the government's desire to empower women.

FM: The complexity of world affairs is rising on a geopolitical level. With the Covid-19 pandemic, a new global order is taking shape. India effectively maneuvered its way through the crisis that was caused by the pandemic. Following a very trying period, India was elected to the G20 summit.

The PM Mudra Yojana has approved 43 crore loans of Rs. 22.5 lakh crore to support your youth's entrepreneurial goals. Our youth are receiving assistance from Fund of Funds, Startup India, and Startup Credit Guarantee Schemes: FM

"The Skill India Mission has created 3000 new ITIs, trained 1.4 crore youth, and re- and up-skilled 54 lakh youth. Numerous institutions of higher learning have been established, including 7 IITs, 16 IIITs, 7 IIMs, 15 AIIMS, and 390 universities."