Budget 2024 Live Updates: Finance Minister Nirmala Sitharaman ready to unveil historic 7th Union Budget

Summary

Budget 2024 Live Updates: Track Hindustan Times for latest updates on Union Budget 2024 being presented by Nirmala Sitharaman

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 budgets in a row and Pranab Mukherjee also presented five consecutive budgets.

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:

1. India’s FY GDP growth expected to be between 6.5% to 7.0%
2. Inflation still remains high in some good items
3. Conflicts in the world will continue to disrupt supplies and will likely influence the Reserve Bank of India’s (RBI) stance
4. Local demand will continue to help industry growth in India, the Survey noted
5. India must focus more and more on local resources for investment and growth, it said
6. Private sector must also understand its responsibility better and invest more in research and development
7. Making Indian manufacturing competitive is very important, the Survey said
8. 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 9:47 AM IST

Budget 2024 LIVE Updates: J&K budget copies arrive in Parliament

Budget 2024 LIVE Updates: J&K budget copies have arrived in Parliament as Nirmala Sitharaman is set to present estimated receipts and expenditure for 2024-25 for the Union Territory of Jammu and Kashmir in Parliament today.

July 23, 2024 9:45 AM IST

Budget 2024 LIVE Updates: HT’s stock market poll

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July 23, 2024 9:43 AM IST

Budget 2024 LIVE Updates: Nirmala Sitharaman dons white silk saree today

Budget 2024 LIVE Updates: Nirmala Sitharaman was seen in a magenta-bordered white silk saree as she posed for the customary “briefcase” photo outside her office prior to meeting with the President.

July 23, 2024 9:42 AM IST

Budget 2024 LIVE Updates: Nirmala Sitharaman heads to Rashtrapati Bhavan with ‘bahi-khata’

Budget 2024 LIVE Updates: Finance minister Nirmala Sitharaman headed for Parliament with a computer tablet wrapped in a traditional ‘bahi-khata’ pouch.

July 23, 2024 9:36 AM IST

Budget 2024 LIVE Updates: Stock market opens in green

Budget 2024 LIVE Updates: Ahead of Budget 2024 presentation by Finance minister Nirmala Sitharaman, BSE Sensex and Nifty50 opened in green. BSE Sensex moved up 200 points, Nifty50 was above 24,550.

July 23, 2024 9:32 AM IST

Budget 2024 LIVE Updates: Will stock market rise on Budget day or see volatility?

Budget 2024 LIVE Updates: The stock market is expected to remain volatile today as Finance minister Nirmala Sitharaman will table the first union budget of Modi 3.0 after the Lok Sabha election results.

July 23, 2024 9:19 AM IST

Budget 2024 LIVE Updates: ‘Viksit Bharat’ in focus today

Budget 2024 LIVE Updates: Nilaya Varma, Co-Founder and CEO of Primus Partners, said, “It is after a very very long time, one has seen such high expectations from a budget. It is never easy to balance the needs and hopes of 1.4 billion people. However, we also have a FM who has the experience (7th year) to be able to deliver. Outside of how to boost short term consumption and tweaks to duties, one will be keen to see specific initiatives and spend on capital projects, encouragement to private investments, revival of manufacturing growth to absorb growing job demands coming out of farm sector and fiscal discipline to meet the goals of Viksit Bharat.”

July 23, 2024 9:18 AM IST

Budget 2024 LIVE Updates: How Sensex has performed in the past 10 years on Budget Day

Budget 2024 LIVE Updates: In 10 years, Sensex has gained an average of 0.27% on Budget days. In 2020, Sensex dropped by 2.43% while in 2021, Sensex finished with 5% gain.

July 23, 2024 9:07 AM IST

Budget 2024 LIVE Updates: In case you are just joining us, Nirmala Sitharaman to present Budget for 7th time

Budget 2024 LIVE Updates: Finance minister Nirmala Sitharaman will present the Union Budget for the 7th consecutive time- surpassing the record of six budgets presented by former finance minister Morarji Desai. Morarji Desai served as finance minister twice — from 1958 to 1963 and then from 1967 to 1970.

July 23, 2024 9:00 AM IST

Budget 2024 LIVE Updates: What Nirmala Sitharaman’s Budget could have for salaried class?

Budget 2024 LIVE Updates: Moody’s Analytics suggested that there could be something good awaiting in the Budget for India’s middle class.

July 23, 2024 8:53 AM IST

Budget 2024 LIVE Updates: What Economic Survey said on Capital markets

Budget 2024 LIVE Updates: The Economic Survey noted that capital markets are increasingly playing a significant role in India’s growth trajectory. Praising the stock markets, the Economic Survey said that the indices have shown resilience against global geopolitical and economic disruptions.

July 23, 2024 8:50 AM IST

Budget 2024 LIVE Updates: Budget’s likely impact on rupee today

Budget 2024 LIVE Updates: The rupee will open at flat from 83.6575 in the previous session when it fell to an all-time low of 83.6775.

July 23, 2024 8:45 AM IST

Budget 2024 LIVE Updates: More from Ministry of Finance

MoS Finance Pankaj Chaudhary arrived at North Block and said, “This budget is based on PM Modi’s mantra of Sabka Saath Sabka Vikas.”

July 23, 2024 8:39 AM IST

Budget 2024 LIVE Updates: CEA Nageswaran arrives at Ministry of Finance

Budget 2024 LIVE Updates: Chief Economic Advisor V Anantha Nageswaran arrives at Ministry of Finance ahead of Budget presentation.

July 23, 2024 8:38 AM IST

Budget 2024 LIVE Updates: Nirmala Sitharaman to present J-K Budget today as well

Budget 2024 LIVE Updates: Union Finance Minister Nirmala Sitharaman will also present the Budget of the Union Territory of Jammu and Kashmir. After Article 370 was repealed, this is the Jammu and Kashmir’s fifth budget.

July 23, 2024 8:36 AM IST

Budget 2024 LIVE Updates: How stock markets closed on July 22 ahead of Union Budget?

Budget 2024 LIVE Updates: Stock Markets closed lower on muted earnings on July 22 with benchmark Sensex dropping 102 points ahead of Budget presentation today.

July 23, 2024 8:32 AM IST

Budget 2024 LIVE Updates: Which is the longest Budget speech?

Budget 2024 LIVE Updates: Finance minister Nirmala Sitharaman delivered the longest Budget speech that lasted for two hours and forty minutes in 2020.

July 23, 2024 8:29 AM IST

Budget 2024 Live Updates: In case you missed it, key highlights from the Economic Survey

Budget 2024 Live Updates: These are the major highlights from the Economic Survey which was tabled by Nirmala Sitharaman yesterday:

1. Economic growth at 6.5-7% in FY25 vs 8.2% in 2023-24
2. Capital markets becoming prominent in India’s growth story
3. AI casts a huge pall of uncertainty over the impact on workers
4. Increased FDI inflows from China can help India enhance participation in global supply chain
5. Remittances to India to grow at 3.7% to USD 124 billion in 2024

July 23, 2024 8:24 AM IST

Budget 2024 Live Updates: Visuals from Ministry of Finance ahead of Budget presentation

July 23, 2024 8:22 AM IST

Budget 2024 Live Updates: Nirmala Sitharaman reaches North Block

Budget 2024 Live Updates: Finance Minister Nirmala Sitharaman reaches North Block ahead of presenting Budget 2024.

July 23, 2024 8:12 AM IST

Budget 2024 Live Updates: Why Citi expects Nirmala Sitharaman will increase funding for rural schemes

Budget 2024 Live Updates: Citi said that the government is expected to allocate more funds for rural schemes to stimulate consumption. These will benefit consumer goods makers like Hindustan Unilever and two-wheeler manufacturers such as TVS Motor and Hero MotoCorp, as per Citi.

July 23, 2024 8:08 AM IST

Budget 2024 Live Updates: What other documents you need to watch out for other than Budget today

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Do you think Union Budget 2024 should focus more on jobs?

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Budget 2024 Live Updates: Nirmala Sitharaman will place copies of the following documents on the table as per subsection (1) of Section 3 of the Fiscal Responsibility and Budget Management Act, 2003:

1. Medium-term Fiscal Policy cum Fiscal Policy Strategy Statement
2. Macro-Economic Framework Statement

July 23, 2024 8:05 AM IST

Budget 2024 Live Updates: What Economic Survey said on Railways

Budget 2024 Live Updates: Economic Survey noted that capital expenditure on Railways has surged by 77% over the last five years. Capital expenditure rose from ₹1.48 lakh crore in the fiscal year 2019-20 to ₹2.62 lakh crore in 2023-24, the Survey noted.

July 23, 2024 7:57 AM IST

Budget 2024 Live Updates: In case you are just joining us, here’s what is happening today

Budget 2024 Live Updates: Finance minister Nirmala Sitharaman is set to present the Union Budget 2024 in Parliament today. This will be her seventh consecutive budget as she crosses the record of late Moraji Desai who presented six consecutive budgets.

When is Nirmala Sitharaman’s speech? Nirmala Sitharaman will present the Budget at 11am today.

It is the first Budget under the Modi 3.0 government.

The Budget is being presented today as owing to the Lok Sabha elections, the interim budget was tabled on February 1.

July 23, 2024 7:54 AM IST

Budget 2024 Live Updates: How stock market may open ahead of the Budget?

Budget 2024 Live Updates: Indian shares will likely open little changed today ahead of the Budget. The GIFT Nifty was at 24,550 points as of 7:19 am suggesting that the NSE Nifty 50 will open near its Monday’s close of 24,509.25.

July 23, 2024 7:48 AM IST

Budget 2024 Live Updates: A jam-packed schedule for Nirmala Sitharaman today

Budget 2024 Live Updates: Finance minister Nirmala Sitharaman will visit the Ministry of Finance’s North Block headquarters today ahead of Budget presentation. There she will meet her ministry’s secretaries and then accompany them to the President’s mansion to obtain authorization for the Budget.

July 23, 2024 7:41 AM IST

Budget 2024 Live Updates: Which allocations are likely in Budget 2024?

Budget 2024 Live Updates: Additional allocations likely in the Budget could include PM Awaas Yojana, Jan Dhan Yojana, Jal Jeevan Mission, MNREGA and Atal Pension Yojana.

July 23, 2024 7:34 AM IST

Budget 2024 Live Updates: Will Bihar get special status as per the Budget?

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Budget 2024 Live Updates: No, BJP junked its ally JD (U)’s demand for a special status category for Bihar, Minister of State for Finance Pankaj Chaudhary. Bihar cannot be accorded special status in accordance with the 2012 Inter-Ministerial Group (IMG) report, he said.

July 23, 2024 7:30 AM IST

Budget 2024 Live Updates: ‘Edtech sector needs more support’

Budget 2024 Live Updates: Vedant Hamirwasia, Director, ODA Class, said, “We are hopeful that the finance ministry will increase the budget allocation beyond the current 13% to fund more initiatives in the education sector. Expectations include boosting digital infrastructure to facilitate skill development programs, financial aid and tax relief, including a reduction in GST from the existing 18% to make online education more affordable.”

July 23, 2024 7:28 AM IST

Budget 2024 Live Updates: What fintech industry wants from Nirmala Sitharaman

Budget 2024 Live Updates: Pramod Kathuria, founder and CEO of Easiloan, said, “The fintech industry expects a well-defined strategy to strengthen digital infrastructure and promote digital payments for deeper financial inclusion. It is also expecting policy implementation around regulations and licensing processes.”

July 23, 2024 7:25 AM IST

Budget 2024 Live Updates: Watch out for these defence stocks today

Budget 2024 Live Updates: Fisdom Research expects more support towards the modernisation of armed forces in the Budget. As Nirmala Sitharaman presents the Budget 2024 today, you must look out for these stocks as per Fisdom Research: Bharat Electronics Ltd. (BEL), Hindustan Aeronautics Ltd. (HAL), Bharat Dynamics Ltd. (BDL)

July 23, 2024 7:22 AM IST

Budget 2024 Live Updates: ‘Collaboration between startups and real estate developers important’

Budget 2024 Live Updates: Murali Krishna, V Principal, Spyre VC, said, “We advocate for increased policy intervention in the form of tax incentives to promote technology adoption within government-led infrastructure investments. Furthermore, we propose the establishment of a formal channel to facilitate collaboration between startups and real estate developers, incentivizing the adoption of technologies from Indian startups over those from global companies.”

July 23, 2024 7:20 AM IST

Budget 2024 Live Updates: What will Nirmala Sitharaman do for the middle class today

Budget 2024 Live Updates: Nirmala Sitharaman’s Budget may propose a new tax system with updated income tax slabs. There could be more changes to the capital gains tax structure.

July 23, 2024 7:18 AM IST

Budget 2024 Live Updates: RBI’s surplus transfer to government this year

Budget 2024 Live Updates: The Reserve Bank of India gave government a $25 billion surplus transfer in May. This may be used by the government for tax cuts and support for rural areas.

July 23, 2024 7:15 AM IST

Budget 2024 Live Updates: What are the cues in Economic Survey for today’s Budget?

Budget 2024 Live Updates: The Economic Survey outlined various reforms and measures including: skill gap, employment, easing regulatory requirements, and financing bottlenecks for micro, small, and medium enterprises.

July 23, 2024 7:12 AM IST

Budget 2024 Live Updates: Investing in railway stocks today? Watch out for these shares

Budget 2024 Live Updates: Stock market watchers expect a good Railway budget from Nirmala Sitharaman owing to which shares like Rail Vikas Nigam Ltd (RVNL), Titagarh Rail Systems Ltd, Ircon International Ltd, Indian Railway Finance Corporation Ltd (IRFC), RITES Ltd, Indian Railway Catering & Tourism Corporation Ltd (IRCTC), Railtel Corporation of India Ltd and Jupiter Wagons Ltd.

July 23, 2024 7:09 AM IST

Budget 2024 Live Updates: Why stock market will look at government borrowing in the Budget

Budget 2024 Live Updates: In the Interim Budget, the government’s gross borrowing for the current financial year is projected at ₹14.13 lakh crore. Stock market investors will pay attention to government borrowing as the Budget comes after higher-than-expected dividends from Reserve Bank of India (RBI) and financial institutions.

July 23, 2024 7:05 AM IST

Budget 2024 Live Updates: Can you expect income tax cuts in Nirmala Sitharaman’s speech today?

Budget 2024 Live Updates: Nirmala Sitharaman may bring changes to the income tax slabs to provide relief to the middle class with the aim to increase disposable income, boost consumption and economic growth in the country.

July 23, 2024 7:02 AM IST

Budget 2024 Live Updates: Tax slabs in the new tax regime

Budget 2024 Live Updates: Here’s a look at tax slabs in the new tax regime:

Up to 2.5 lakh: Exempted

More than 2.5 lakh up to 3 lakh: Exempted

More than 3 lakh but less than 5 lakh: 5%

More than 5 lakh to 6 lakh: 5%

More than 6 lakh to 9 lakh: 10%

More than 9 lakh to 10 lakh: 15%

More than 10 lakh to 12 lakh: 15%

More than 12 lakh up to 15 lakh: 20%

Above 15 lakh: 30%

July 23, 2024 6:58 AM IST

Budget 2024 Live Updates: When Arun Jaitley merged Railway Budget with the Union Budget

Budget 2024 Live Updates: In 2017-18’s Budget Arun Jaitley merged the Union Budget and Railway Budget presentations, ending a tradition of 92 years.

July 23, 2024 6:52 AM IST

Budget 2024 Live Updates: These three factors could life the stock market mood today

Budget 2024 Live Updates: Elara Securities said that if the Budget focuses on fiscal consolidation, higher capex allocation, increased spending on social and rural schemes along with possible relaxation of income tax rates, it could life the mood of the stock market.

July 23, 2024 6:47 AM IST

Budget 2024 Live Updates: P Chidambaram’s ‘dream budget’ of 1977

Budget 2024 Live Updates: P Chidambaram, in his Budget presentation of 1997 when he was the Finance minister, reduced personal income tax and corporate tax. The Budget was labelled “Dream Budget” by experts as it introduced significant cuts in both personal and corporate taxes. In the Budget, the highest personal income tax rate was reduced from 40 per cent to 30 per cent.

July 23, 2024 6:36 AM IST

Budget 2024 Live Updates: ‘Bolster startup ecosystem in India’

Ajay Kela, president & CEO, Wadhwani Foundation, said, “We are hopeful that the upcoming budget will continue to bolster the vibrant startup ecosystem in India. By increasing funding, simplifying regulations, and fostering innovation, the government can empower entrepreneurs to drive economic growth and create millions of jobs. We anticipate new initiatives that will provide startups with the resources they need to scale and thrive in a competitive global market.”

July 23, 2024 6:35 AM IST

Budget 2024 Live Updates: GST collection is something you should look out for in Nirmala Sitharaman’s speech

Budget 2024 Live Updates: Goods and Services Tax (GST) collection in 2024-25 is estimated to rise to ₹10.68 lakh crore. The tax revenue figures will have to be watched out for in Nirmala Sitharaman’s speech today.

July 23, 2024 6:32 AM IST

Budget 2024 Live Updates: ‘AI crucial for driving economic growth’

Budget 2024 Live Updates: Prakash Kumar, CEO, WGDT, Wadhwani Foundation said, “This year, we hope to see further support for technologies such as AI and machine learning, which are crucial for enhancing public services and driving economic growth. Government backing will be instrumental in fostering innovation and ensuring that digital advancements benefit all sectors of society. Additionally, we anticipate initiatives that will bridge the digital divide, ensuring that the benefits of technology reach every corner of the country.”

July 23, 2024 6:30 AM IST

Budget 2024 Live Updates: Why experts are focusing on capital expenditure in Nirmala Sitharaman’s Budget

Budget 2024 Live Updates: Government’s planned capital expenditure for this fiscal year is budgeted at ₹11.1 lakh crore- higher than ₹9.5 lakh crore in the last fiscal year. Experts are going to keenly look at the capital expenditure that Nirmala Sitharaman announces as the Modi government has been pushing infrastructure creation and also incentivizing states to step up capex.

July 23, 2024 6:23 AM IST

Budget 2024 Live Updates: Manmohan Singh’s 1991 Budget

Budget 2024 Live Updates: The Union Budget of 1991 presented by Dr Manmohan Singh addressed the severe economic crisis that the country was facing at the time. At the time Manmohan Singh revamped the import-export policy of the country.

July 23, 2024 6:21 AM IST

Budget 2024 Live Updates: What education sector expects from Union Budget?

Budget 2024 Live Updates: Ajay Kela, president & CEO, Wadhwani Foundation said, “We look forward to the government’s emphasis on education and skilling in the upcoming budget. By investing in skill development and modernizing the education system, we can equip the youth with the necessary tools to succeed in a rapidly changing job market. Enhanced vocational training programs and digital learning platforms will be crucial in building a future-ready workforce capable of meeting the demands of the new economy.”

July 23, 2024 6:19 AM IST

Budget 2024 Live Updates: What about fiscal deficit should be your focus in Nirmala Sitharaman’s speech

Budget 2024 Live Updates: Fiscal deficit is the difference between government expenditure and income. For the current fiscal, the fiscal deficit is 5.1 per cent as projected in the Interim Budget in February. Nirmala Sitharaman is expected to provide better-than-earlier projection in her Budget speech today.

July 23, 2024 6:17 AM IST

Budget 2024 Live Updates: A look at tax slabs under the old tax regime

Budget 2024 Live Updates: Here are the various slabs under the old tax regime:

Up to 2.5 lakh: Exempted

More than 2.5 lakh up to 3 lakh: 5%

More than 3 lakh up to 5 lakh: 5%

More than 5 lakh to 6 lakh: 20%

More than 6 lakh to 9 lakh: 20%

More than 9 lakh to 10 lakh: 20%

More than 10 lakh to 12 lakh: 30%

More than 12 lakh up to 15 lakh: 30%

Above 15 lakh: 30%