Budget 2024 Live Updates: Nirmala Sitharaman Proposes No Changes In Tax Structures

The government is set to release its interim budget for 2024 on Thursday, ahead of the highly anticipated general elections. Finance Minister Nirmala Sitharaman will present the budget for the sixth time in a row.

The interim budget during an election year aims to meet immediate financial needs before a new government is formed. The full-fledged union budget will be released after the elections, scheduled between April and May.

Viewers can catch the live streaming of Sitharaman’s budget speech on Sansad TV and DD News. You can also look for live updates on Benzinga India.

Sitharaman is set to equal the record of former Prime Minister Morarji Desai by presenting her sixth consecutive budget later today.

11:58 am- Nirmala Sitharaman ends her Interim Budget speech.

11:55 am- “I propose to maintain the same tax rates for direct and indirect taxes including import duties,” Sitharaman in Budget Speech.

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11:54- Nirmala Sitharaman announced the expansion of key rail infrastructure projects, including Metro Rail and Namo Bharat, to cover more cities.

11:45 am- Tourism, especially Spiritual tourism has tremendous potential. Projects for port connectivity, tourism infra, and amenities on our islands including Lakshadweep.

11:45 am- Finance Minister Sitharaman announced the extension of the Ayushman Bharat scheme to include all ASHA and Anganwadi workers.

11:40 am- The government will help housing for the middle class living in rented slums or unauthorized colonies to build or buy their own houses.

11:38 am- 40,000 normal rail bogies will converted to Vande Bharat bogies.

11:35 am- Finance minister Sitharaman said, "The India-Middle East-Europe trade corridor, announced during the G20 Summit last year, will be a game-changer for India and the rest of the world. Our vision for Viksit Bharat is one of prosperity in harmony with nature and providing opportunity to all to reach their potential."

11:30 am- Sitharaman said, "1 crore households will get up to 300 units of electricity every month with rooftop solarisation following PM Modi’s plan after the inauguration of Ram Mandir."

11:28 am- Finance Minister Sitharaman reiterated the government’s aspiration to propel India towards becoming ‘Viksit Bharat’ by 2047.

11:26 am- FM says, “Female enrolment in higher education up by 28% in 10 years, in STEM courses, girls & women make 43% of enrolment, one of the highest in the world. All these steps are reflected in the increasing participation of women in the workforce. Making triple talaq illegal, reservation of 1/3 seats for women in Parliament and state assemblies, over 70 % houses under PM Awas Yojana to women have increased their dignity.”

11:22 am- PM Mudra Yojana has sanctioned 43 crore loans amounting to Rs. 22.5 lakh crore for entrepreneurial aspirations of your youth Fund of Funds, Startup India and Startup Credit Guarantee Schemes are assisting our youth, FM in her speech.

11:20 am- “During the second term, the government fortified its principles, ensuring inclusivity across social and geographical spheres. Adopting a holistic national approach, the nation surmounted the hurdles posed by the COVID-19 pandemic, advanced towards self-reliant India (Aatma Nirbhar Bharat), and laid robust foundations for a prosperous future (Amrit Kaal),” Sitharaman in Budget Speech.

11:18 am- Talking about the PM Kisan Samman Yojana the finance minister said, “Direct financial assistance is provided to 11.8 crore farmers every year, including marginal and small farmers Crop insurance is given to 4 crore farmers under PM Fasal Bima Yojana These assist farmers in producing food for the country and for the world.”

11:15 am- “Direct Benefit Transfer of ₹34 lakh crore using PM Jan Dhan accounts has led to huge savings for the government This has been realized through avoidance of leakages, savings have helped in providing more funds for welfare of the poor,” Sitharaman said in the budget speech.

11:10 am- “We need to focus on the poor, women, youth and farmers / Anna Data Their needs and aspirations and welfare are our highest priority All four require and receive government support, their empowerment and well-being will drive the country forward,” Sitharaman in budget Speech.

11:09 am- The earlier approach of tackling poverty resulted in very modest outcomes When the poor became empowered partners in the development process, the government’s power to assist them increased manifold In the last 10 years, the government has assisted 25 crore people to get freedom from multidimensional poverty, said Finance Minister Sitharaman.

11:06 am- .”Our young country has pride in its presence and hope and confidence in the future. The worries about food have been eliminated through free ration for 80 crore people,” Sitharaman in budget speech.

11:05 am- “The fruits of development have reached the people at a significant scale. The nation has gained a renewed sense of purpose. In Prime Minister Modi’s second term, the government has intensified its agenda,” Sitharaman remarked in the budget speech.

11:02 am- In her Budget speech, Sitharaman highlighted the progress made over the past decade under Prime Minister Narendra Modi’s leadership, emphasizing the principle of “Sabka Sath, Sabka Vikas”.

11:00 am- Nirmala Sitharaman starts her budget speech.

10:39 am- Union Cabinet approves the interim budget 2024.

10:24 am- President shares pictures from her meeting with the Finance Minister today.

10:14 am- Cabinet meeting ongoing to approve the budget. Prime Minister Narendra Modi and other union ministers attending.

9:54 am- Sitharaman reaches Parliament for the cabinet meeting.

9:49 am- Sitharaman leaves Rashtrapati Bhawan for the cabinet meeting at the Parliament building.

9:22 am- Sitharaman reaches Rashtrapati Bhawan to seek the President’s approval for the interim budget.

9:15 am- Markets open in positive territory on Thursday, ahead of the interim Budget, with the Nifty hovering around 21,800 and the Sensex at 72,000.

9:13 am- The Finance Minister leaves the ministry to meet President Droupadi Murmu at Rashtrapati Bhawan.

9:11 am- The Finance Minister poses with the Budget 2024 team outside the Finance Ministry.

8:42 am- Nirmala Sitharaman reaches the Finance Ministry.

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Posted In: GovernmentMacro Economic EventsEconomicsBudget 2024