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IndiaTV Business: Google News Feed: Digest for July 24, 2024

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With the Union Budget 2024-25 set for presentation on Tuesday, expectations are high that Finance Minister Nirmala Sitharaman may introduce populist measures to boost the rural economy and job creation. Upcoming elections in Maharashtra, Haryana, Jharkhand, and Delhi add to the likelihood of voter-friendly announcements.
New Delhi: India needs to recognise and address challenges posed by its dependence on China for critical minerals and examine the implications of phasing down coal on bank balance sheets as it accelerates its green transition, the government's Economic Survey 2023-24 tabled in Parliament on Monday said. As part of its national plan to contribute to meeting the global goal of limiting the average temperature rise to 1.5 degrees Celsius, India has committed to reducing emissions by 45 per cent below 2005 levels by 2030, achieving 50 per cent cumulative electric installed capacity from non-fossil fuel-based energy resources, and creating a carbon sink of 2.5 to 3 gigatons of CO2 equivalent through additional forest and tree cover.
The pre-budget Economic Survey, tabled in Parliament by Finance Minister Nirmala Sitharaman on Monday underscored the pressing need for comprehensive reforms in India's agricultural sector. The Survey flagged structural issues that could impede the country's overall economic growth trajectory.
Finance Minister Nirmala Sitharaman will present the Union Budget 2024–25 on Tuesday, marking the first budget of Prime Minister Narendra Modi's third successive government. This budget comes amid a changed political landscape, as the BJP no longer holds a majority on its own. The focus will be on how this shift affects the budget, comparing it to the interim budget presented earlier this year.
Union Food Processing Minister Chirag Paswan is looking for a good budget allocation for his ministry for setting up processing units across the country as it will help create job opportunities for local people and also boost farmers' income. Chirag said that the ministry has sent the wishlist to the finance ministry but avoided disclosing the content of the request.
In a modest hike, the government had in its last interim budget, increased the defence budget to Rs 6.21 lakh crore for 2024-25 from last year's allocation of Rs 5.94 lakh crore and announced an ambitious scheme for "deep-tech" technologies in the military domain. In the interim Union budget presented in Parliament by Finance Minister Nirmala Sitharaman in February, a total of Rs 1.72 lakh crore was set aside to the military for capital expenditure that largely includes purchasing new weapons, aircraft, warships and other military hardware. For 2023-24, the budgetary allocation for capital outlay was Rs 1.62 lakh crore.
Ahead of Union Budget 2024, Vice Chief of the Air Staff, Air Marshal AP Singh batted for 'atmanirbharta' in defence, saying 'atmanirbharata' is "not just a buzzword", it is something that all stakeholders need to put their heart and soul into. While addressing at a CAPS seminar in New Delhi, he asserted that "nation's defence comes first and foremost".
As India aims to become the third-largest economy with a projected GDP of $5 trillion in the next three years, the Railway Budget 2024-25 is expected to play a pivotal role in infrastructure development. Key expectations include significant budgetary allocations, high-speed rail projects, safety upgrades, environmental sustainability, digital transformation, and modernisation of railway stations and coaches.
Union Finance Minister Nirmala Sitharaman tabled the Economic Survey in Parliament on Tuesday. The Economic Survey is an annual document which reflects the picture of the nation's financial condition in the last fiscal year. The document provides an overview of the short-to-medium-term prospects of the economy. The document is presented ahead of the union budget. The latest economic survey of FY24 projected GDP growth of 6.5-7 per cent in FY25. Moreover, India's consumer price inflation will progressively align towards the inflation target in FY26. Amid these promising figures, it is imperative to take a look at the timeline of the Indian economy and understand how it evolved over time.
Finance Minister Nirmala Sitharaman is poised to present the first budget of Modi 3.0 in Lok Sabha on Tuesday. This will be her seventh budget presentation, breaking Morarji Desai's record of six. Desai, Finance Minister from 1959 to 1964, presented five full budgets and one interim budget.
As India aims to become the third-largest economy with a projected GDP of $5 trillion in the next three years, the Railway Budget 2024-25 is expected to play a pivotal role in infrastructure development. Key expectations include significant budgetary allocations, high-speed rail projects, safety upgrades, environmental sustainability, digital transformation, and modernisation of railway stations and coaches.
Union Finance Minister Nirmala Sitharaman tabled the Economic Survey in Parliament on Tuesday. The Economic Survey is an annual document which reflects the picture of the nation's financial condition in the last fiscal year. The document provides an overview of the short-to-medium-term prospects of the economy. The document is presented ahead of the union budget. The latest economic survey of FY24 projected GDP growth of 6.5-7 per cent in FY25. Moreover, India's consumer price inflation will progressively align towards the inflation target in FY26. Amid these promising figures, it is imperative to take a look at the timeline of the Indian economy and understand how it evolved over time.
Finance Minister Nirmala Sitharaman is poised to present the first budget of Modi 3.0 in Lok Sabha on Tuesday. This will be her seventh budget presentation, breaking Morarji Desai's record of six. Desai, Finance Minister from 1959 to 1964, presented five full budgets and one interim budget.
Budget 2024: With the government preparing to present the Budget for the 2024-25 fiscal year today, investors are eagerly anticipating potential changes. Many are hoping for an increase in the Section 80C limit of the Income Tax Act. If Finance Minister Nirmala Sitharaman announces a raise in this limit, it could benefit investors in Equity Linked Savings Scheme (ELSS) mutual funds as it would offer them enhanced opportunities for tax savings and investment growth.
Union Budget 2024: Experts have urged the government to either remove or reduce the 18 per cent Goods and Services Tax (GST) on mental health services and to allocate resources effectively to support India's journey toward becoming a mentally resilient society, ahead of the Union Budget presentation. Mental health is a key area that can greatly affect the nation's productivity and economic well-being.
Budget 2024: Finance Minister Nirmala Sitharaman is set to present the Union Budget in Parliament at 11 am today. The budget has been a major trendsetter for the Indian stock market, with major volatility seen in the stock market upon its announcement. According to the available data for the last ten years, the market fell on eight out of ten budget days (February 1), with only two instances of a rise. On February 1, 2024, the trend continued as the Indian stock market experienced volatility. The BSE Sensex closed at 71,645.30, down by 106.81 points, while the NSE Nifty ended at 21,697.45, down by 28.25 points.
Union Budget 2024: The general population, particularly those in the salaried and middle-class brackets, are anticipating significant relief measures from the government through the budget being presented today. If the government announces any tax exemptions, it could offer a relief to these groups. Let's know what can we expect from the Modi 3.0 government's 2024 budget. 

Sensex-Nifty sink, trading in red mark ahead of Budget

Tuesday 23 July 2024 03:59 AM UTC+00
Stock Market: Following a positive start, the Sensex dropped by 165.65 points to 80,336.43, while the Nifty fell by 58.05 points, trading at 24,451.20 ahead of the budget presentation by Finance Minister Nirmala Sitharaman.
The copies of Union Budget arrive in Parliament as Finance Minister Nirmala Sitharaman gears up to present her seventh straight Budget on Tuesday for the fiscal 2024-25. The full Budget for the 2024-25 fiscal (April 2024 to March 2025) will be her seventh straight. She will better Desai's record, who presented consecutive five full budgets and one interim budget between 1959 to 1964.
Union Budget 2024: On Tuesday, Nirmala Sitharaman posed with a red sleeve tablet ahead of Budget. Sitharaman is all set to present her seventh straight Budget on Tuesday for the fiscal 2024-25. The full Budget for the 2024-25 fiscal (April 2024 to March 2025) will be her seventh straight. She will better Desai's record, who presented consecutive five full budgets and one interim budget between 1959 to 1964.
Union Finance Minister Nirmala Sitharaman on Tuesday (July 23) listed the 7 priorities of the government in Budget 2024-25. She presented the first Budget of the third term of the Narendra Modi government in Lok Sabha and scripted history by doing so for the seventh time in a row.
Budget 2024: Finance Minister Nirmala Sitharaman on Tuesday announced nine priorities in the Union Budget 2024-25 for generating ample opportunities in the economy. The nine priorities include: 

Budget 2024: What's costlier, what's cheaper | FULL LIST

Tuesday 23 July 2024 07:00 AM UTC+00
Budget 2024: Finance Minister Nirmala Sitharaman presented the Union Budget 2024-25 and announced several measures which will make various items cheaper. The Minister, in her speech, announced various steps the government will take that will help citizens save more on items of daily use.
Union Budget 2024: In a bid to boost startups, Finance Minister Nirmala Sitharaman on Tuesday announced that angel tax will be abolished for all classes of investors in Budget 2024.  The removal of the angel tax is anticipated to significantly benefit startups by fostering a more supportive and conducive environment for their growth and development.
Union Budget 2024: In her presentation of the Union Budget for the fiscal year 2024-25, Union Finance Minister Nirmala Sitharaman announced a fiscal deficit target of 4.9 per cent of the gross domestic product (GDP). This marks a significant reduction from the target set in the Interim Budget presented on February 1, which pegged the fiscal deficit at 5.1 per cent of GDP. For the previous fiscal year 2023-24, the government had initially set a fiscal deficit target of 5.9 per cent of GDP. However, this figure was later revised downward to 5.8 per cent, reflecting the government's efforts to maintain fiscal discipline and manage public finances more efficiently.
Budget 2024: In a major step, the Union Budget 2024 presented by Finance Minister Nirmala Sitharaman on Tuesday officially abolished the "Angel tax" for all classes of investors for the financial year 2024-25. The removal of the angel tax is anticipated to significantly benefit startups by fostering a more supportive and conducive environment for their growth and development.
Finance Minister Nirmala Sitharaman on Tuesday presented the first under the Modi Govt 3.0 and her seventh union budget, laying out the vision for India's economic growth and objective to become the top three economies in the world. The Union Minister envisaged a path for economic progress into nine categories including productivity, jobs, social justice, urban development, energy security, infrastructure, innovation and reforms. Let's take a look at what the Union Budget 2024 proposes for Infrastructure, Real Estate and Housing.
Budget 2024: Finance Minister Nirmala Sitharaman on Tuesday announced the Union Budget 2024-25, with nine outlined priorities in agriculture, employment and skilling, manufacturing and services, human resource development, urban development, energy security and more. The main focus of this year's budget was on job creation and boosting rural spending.
Budget 2024: Finance Minister Nirmala Sitharaman on Tuesday presented her seventh straight Budget for the fiscal 2024-25. Informing that the fiscal deficit is estimated at 4.9 per cent of GDP, Sitharaman said that the people have reposed their faith in the government led by PM Modi and re-elected it for the historic third term.
Finance Minister Nirmala Sitharaman on Tuesday presented the first under the Modi Govt 3.0 and her seventh union budget, laying out the vision for India's economic growth and objective to become the top three economies in the world. The Union Minister envisaged a path for economic progress into nine categories including productivity, jobs, social justice, urban development, energy security, infrastructure, innovation and reforms. Let's take a look at what the Union Budget 2024 proposes for Infrastructure, Real Estate and Housing.
Budget 2024: Finance Minister Nirmala Sitharaman on Tuesday announced the Union Budget 2024-25, with nine outlined priorities in agriculture, employment and skilling, manufacturing and services, human resource development, urban development, energy security and more. The main focus of this year's budget was on job creation and boosting rural spending.
Budget 2024: Finance Minister Nirmala Sitharaman on Tuesday presented her seventh straight Budget for the fiscal 2024-25. Informing that the fiscal deficit is estimated at 4.9 per cent of GDP, Sitharaman said that the people have reposed their faith in the government led by PM Modi and re-elected it for the historic third term.
Union Finance Minister Nirmala Sitharaman highlighted key aspects of the Union Budget 2024 in a press conference, emphasising a simplified approach to taxation. She stated, "We wanted to simplify the approach to taxation, also for the capital gains. Second, the average taxation has come down when we say it is 12.5%. We have worked out for each of the different asset classes...The point that we brought it down from below the average to 12.5% encourages market investment."
Benchmark indices Sensex and Nifty closed slightly down on Tuesday after a volatile trading session driven by the announcement of the Union Budget for 2024–25. The government proposed to hike the securities transaction tax (STT) on futures and options (F&O) trading, causing initial market jitters. The BSE Sensex recovered most of its over 1,200-point intra-day loss, closing down by 73.04 points or 0.09%, at 80,429.04. It hit a low of 79,224.32 after the finance minister's announcement. The NSE Nifty also dipped, ending 30.20 points or 0.12% lower at 24,479.05, after dropping to 24,074.20 during the day.
Union Finance Minister Nirmala Sitharaman announced on Tuesday that the Budget 2024 includes over Rs 3 lakh crore for programs that assist women and girls across several ministries, to advance women-led development.
Finance Minister Nirmala Sitharaman presented the first Budget of the Modi 3.0 government, introducing significant changes to the income tax structure. Notably, she revised tax slabs and increased the standard deduction limit under the New Tax Regime. However, the Old Tax Regime remains unchanged. After presenting the 2024 Union Budget in Parliament, she said, "Can't take a call on whether the old tax regime will be done away with. Can only say the intention is to make the tax regime simpler. Can't say if there will be a sunset on the old regime."
Railway Budget 2024: Union Finance Minister Nirmala Sitharaman did not make any major announcements for the railways. However, the government increased the net revenue expenditure of the Indian Railways by Rs 20 crore to Rs 2,78,500 crore for 2024-25, compared to Rs 2,58,600 crore in the Revised Estimate for 2023-24.
Finance Minister Nirmala Sitharaman, who on Tuesday presented the Budget for 2024-25, her 7th straight presentation surpassing the record of former pime minister Morarji Desai, got thumbs-up from HR and Ed-tech industry experts. They said the budget proposals on skilling, internship and job creation will help address the need for a skilled workforce and boost employment generation for youth.
Finance Minister Nirmala Sitharaman on Tuesday presented the first under the Modi Govt 3.0 and her seventh union budget, laying out the vision for India's economic growth and objective to become the top three economies in the world. The Union Minister envisaged a path for economic progress into nine categories including productivity, jobs, social justice, urban development, energy security, infrastructure, innovation and reforms. Let's take a look at what the Union Budget 2024 proposes for Infrastructure, Real Estate and Housing.
Budget 2024: Finance Minister Nirmala Sitharaman on Tuesday announced the Union Budget 2024-25, with nine outlined priorities in agriculture, employment and skilling, manufacturing and services, human resource development, urban development, energy security and more. The main focus of this year's budget was on job creation and boosting rural spending.
Budget 2024: Finance Minister Nirmala Sitharaman on Tuesday presented her seventh straight Budget for the fiscal 2024-25. Informing that the fiscal deficit is estimated at 4.9 per cent of GDP, Sitharaman said that the people have reposed their faith in the government led by PM Modi and re-elected it for the historic third term.
Union Finance Minister Nirmala Sitharaman highlighted key aspects of the Union Budget 2024 in a press conference, emphasising a simplified approach to taxation. She stated, "We wanted to simplify the approach to taxation, also for the capital gains. Second, the average taxation has come down when we say it is 12.5%. We have worked out for each of the different asset classes...The point that we brought it down from below the average to 12.5% encourages market investment."
Benchmark indices Sensex and Nifty closed slightly down on Tuesday after a volatile trading session driven by the announcement of the Union Budget for 2024–25. The government proposed to hike the securities transaction tax (STT) on futures and options (F&O) trading, causing initial market jitters. The BSE Sensex recovered most of its over 1,200-point intra-day loss, closing down by 73.04 points or 0.09%, at 80,429.04. It hit a low of 79,224.32 after the finance minister's announcement. The NSE Nifty also dipped, ending 30.20 points or 0.12% lower at 24,479.05, after dropping to 24,074.20 during the day.
Union Finance Minister Nirmala Sitharaman announced on Tuesday that the Budget 2024 includes over Rs 3 lakh crore for programs that assist women and girls across several ministries, to advance women-led development.
Finance Minister Nirmala Sitharaman presented the first Budget of the Modi 3.0 government, introducing significant changes to the income tax structure. Notably, she revised tax slabs and increased the standard deduction limit under the New Tax Regime. However, the Old Tax Regime remains unchanged. After presenting the 2024 Union Budget in Parliament, she said, "Can't take a call on whether the old tax regime will be done away with. Can only say the intention is to make the tax regime simpler. Can't say if there will be a sunset on the old regime."
Railway Budget 2024: Union Finance Minister Nirmala Sitharaman did not make any major announcements for the railways. However, the government increased the net revenue expenditure of the Indian Railways by Rs 20 crore to Rs 2,78,500 crore for 2024-25, compared to Rs 2,58,600 crore in the Revised Estimate for 2023-24.
Finance Minister Nirmala Sitharaman, who on Tuesday presented the Budget for 2024-25, her 7th straight presentation surpassing the record of former pime minister Morarji Desai, got thumbs-up from HR and Ed-tech industry experts. They said the budget proposals on skilling, internship and job creation will help address the need for a skilled workforce and boost employment generation for youth.
Finance Minister Nirmala Sitharaman on Tuesday presented the first under the Modi Govt 3.0 and her seventh union budget, laying out the vision for India's economic growth and objective to become the top three economies in the world. The Union Minister envisaged a path for economic progress into nine categories including productivity, jobs, social justice, urban development, energy security, infrastructure, innovation and reforms. Let's take a look at what the Union Budget 2024 proposes for Infrastructure, Real Estate and Housing.
Budget 2024: Finance Minister Nirmala Sitharaman on Tuesday announced the Union Budget 2024-25, with nine outlined priorities in agriculture, employment and skilling, manufacturing and services, human resource development, urban development, energy security and more. The main focus of this year's budget was on job creation and boosting rural spending.
Budget 2024: Finance Minister Nirmala Sitharaman on Tuesday presented her seventh straight Budget for the fiscal 2024-25. Informing that the fiscal deficit is estimated at 4.9 per cent of GDP, Sitharaman said that the people have reposed their faith in the government led by PM Modi and re-elected it for the historic third term.
Union Finance Minister Nirmala Sitharaman highlighted key aspects of the Union Budget 2024 in a press conference, emphasising a simplified approach to taxation. She stated, "We wanted to simplify the approach to taxation, also for the capital gains. Second, the average taxation has come down when we say it is 12.5%. We have worked out for each of the different asset classes...The point that we brought it down from below the average to 12.5% encourages market investment."
Benchmark indices Sensex and Nifty closed slightly down on Tuesday after a volatile trading session driven by the announcement of the Union Budget for 2024–25. The government proposed to hike the securities transaction tax (STT) on futures and options (F&O) trading, causing initial market jitters. The BSE Sensex recovered most of its over 1,200-point intra-day loss, closing down by 73.04 points or 0.09%, at 80,429.04. It hit a low of 79,224.32 after the finance minister's announcement. The NSE Nifty also dipped, ending 30.20 points or 0.12% lower at 24,479.05, after dropping to 24,074.20 during the day.
Union Finance Minister Nirmala Sitharaman announced on Tuesday that the Budget 2024 includes over Rs 3 lakh crore for programs that assist women and girls across several ministries, to advance women-led development.
Finance Minister Nirmala Sitharaman presented the first Budget of the Modi 3.0 government, introducing significant changes to the income tax structure. Notably, she revised tax slabs and increased the standard deduction limit under the New Tax Regime. However, the Old Tax Regime remains unchanged. After presenting the 2024 Union Budget in Parliament, she said, "Can't take a call on whether the old tax regime will be done away with. Can only say the intention is to make the tax regime simpler. Can't say if there will be a sunset on the old regime."
Railway Budget 2024: Union Finance Minister Nirmala Sitharaman did not make any major announcements for the railways. However, the government increased the net revenue expenditure of the Indian Railways by Rs 20 crore to Rs 2,78,500 crore for 2024-25, compared to Rs 2,58,600 crore in the Revised Estimate for 2023-24.
Finance Minister Nirmala Sitharaman, who on Tuesday presented the Budget for 2024-25, her 7th straight presentation surpassing the record of former pime minister Morarji Desai, got thumbs-up from HR and Ed-tech industry experts. They said the budget proposals on skilling, internship and job creation will help address the need for a skilled workforce and boost employment generation for youth.
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