Live
July 21, 2024 5:30 PM IST
Budget 2024 Expectations Live Updates: Salaried taxpayers are hoping for income tax changes in the new income tax regime.
The Union budget 2024 is scheduled to be presented on July 23 by finance minister Nirmala Sitharaman (HT Photo)
Budget 2024 Expectations Live Updates: Finance minister Nirmala Sitharaman will present the Union Budget in the Parliament on Tuesday, July 23. This will be the first Budget of the Modi 3.0 government after it won the 2024 Lok Sabha election this year. The salaried class of India are hoping that Sitharaman will announce some much-needed tax breaks, while infrastructure and railways can see a capex push this year amid increased developmental projects across the country. …Read More
With the presentation of this year’s budget, Sitharaman will establish herself as the first Finance Minister to present seven consecutive budgets, breaking the record of Morarji Desai’s six budget presentations.
Like the previous few full Union Budgets, Budget 2024 will also be delivered in paperless form. An Interim Union Budget 2024 was presented on February 1, as the country was due for general elections.
In hopes of tax relaxations, the middle class are expecting a hike in the standard deduction limit, a hike basic tax exemption limit in the new income tax regime, and simplified capital gain tax regimes.
In the meetings conducted to form the new budget, a group of economists suggested to the ministry that the focus should be on reducing the fiscal deficit in the upcoming budget, along with the need to generate employment growth.
Follow all the updates here:
July 21, 2024 5:29 PM
IST
Budget 2024 Expectations Live Updates: Real estate developers in Noida, Greater Noida expect ‘industry status’ to sector
According to Dinesh Gupta, west UP Secretary, CREDAI, a boost in the real estate sector will encourage further investment from both domestic and foreign sources.
“”Furthermore, tax reforms that lower income taxes for both corporations and individuals, simplify tax legislation, offer targeted incentives, expand the SWAMIH stress fund, and lower the GST rates on building materials will boost the building industry and improve the situation for real estate players,” Gupta said.
July 21, 2024 4:47 PM
IST
Budget 2024 Expectations Live Updates: Assocham expects roadmap on scaling up of national income
According to Assocham president Sanjay Nayar, the first budget of PM Narendra Modi’s third consecutive term, is likely to put forth a roadmap of scaling up the national income.
“While the Budget would attend to the immediate requirements of boosting consumption, investment and augmenting the supply side of the economy, it is also expected to lay a roadmap for the bigger goal of scaling up national income to a level of developed nations,” Nayar told PTI.
July 21, 2024 4:11 PM
IST
Budget 2024 Expectations Live Updates: AAP’s Sanjay Singh predicts what Delhi will get in Union Budget
AAP MP Sanjay Singh on Sunday claimed that the national capital will not be allocated more than ₹350 crore in the Union Budget 2024 set to be tabled by Union finance minister Nirmala Sitharaman on Tuesday.
“In the all-party meeting, many issues were raised, especially the misuse of investigation agencies on Opposition leaders, the biggest victim of which is AAP…I also raised the issue of Delhi and Punjab regarding the budget. The budget is about to come but I can leak the budget before that and in the case of Delhi, I can say that Delhi will not get more than ₹350 crores,” ANI quoted Singh as saying after the all-party meeting. Read more
July 21, 2024 3:46 PM
IST
Budget 2024 Expectations Live Updates: Rajnath Singh’s appeal ahead of session
Defence Minister Rajnath Singh has urged all MPs to refrain from interfering and interrupting when a fellow member is speaking, Parliamentary Affairs Minister Kiren Rijiju said on Sunday. “Defence Minister Rajnath Singh appealed that we are committed to strengthening democracy and when any member speaks in the Parliament, we shouldn’t interfere and interrupt,” Rijiju told reporters after an all-party meeting. Read more
July 21, 2024 3:18 PM
IST
Budget 2024 Expectations Live Updates: Food processing deserves ‘good budget,’ says Union minister Chirag Paswan
Though I have sent my proposal (to the Ministry of Finance), I don’t know how much of it would be accepted…it could be accepted in due course of time, I think by the next financial year. I think that this (Food Processing) ministry deserves, and we do demand also, a good budget because through this, we can actually do something like carpet bombing, you know, by not only setting up these food processing units, but also giving employment to the local people: Chirag Paswan, Union Minister, Food Processing
July 21, 2024 2:48 PM
IST
Budget 2024 Expectations Live Updates: 44 parties attended pre-Budget session meet, says Union minister Kiren Rijiju
“We had a very useful discussion. I would like to thank the floor leaders of all the parties, who have given good suggestions. 44 parties including the BJP took part in the meeting. 55 leaders including ministers – defence minister, our deputy leader in Lok Sabha, leader in Rajya Sabha who chaired the meeting today, JP Nadda…attended the meeting. we have taken the suggestions from all the floor leaders. To run the Parliament smoothly, it’s the responsibility of both – those in the govt and those in opposition,” says Kiren Rijiju, Union minister for parliamentary affairs.
July 21, 2024 2:15 PM
IST
Budget 2024 Expectations Live Updates: Actor Vishal urges PM Narendra Modi to look into GST matter in Tamil Nadu
“I request the PM to look into the GST in Tamil Nadu because we are the only state collecting double taxation. I believed in you when you said ‘One tax, one nation,’ but why is this happening only in Tamil Nadu? Why is nobody taking this matter seriously?’ Actor Vishal says while speaking to media persons.
“It is really affecting the film industry. Paying 8% more local body tax is a big burden for all the producers. Today, the film industry is bleeding; this year is one of the worst years for the film industry. The pain won’t be shown outside because they keep it to themselves and won’t speak about their losses. Please give everyone a chance at a normal life. We are not asking for a luxury life,” he further says.
July 21, 2024 1:49 PM
IST
Budget 2024 Expectations Live Updates: Tamil Nadu CM urges funds for development
In a post on the social media platform X, CM Stalin said, “In the upcoming Budget 2024, the people of Tamil Nadu are expecting the release of three years of pending funds for the Chennai Metro Rail, approval for the express flyover between Tambaram and Chengalpattu, a reduction in income tax, which has been a long-standing expectation of the middle class for the past 10 years, approval for the Coimbatore and Madurai metro rail projects, allocation of funds for pending projects under old and new railway schemes in Tamil Nadu, and an increase in the slab rate for houses being constructed under rural and urban housing development schemes.”
July 21, 2024 1:11 PM
IST
Budget 2024 Expectations Live Updates: Child rights activists seek increased funding
Ahead of the Union Budget, child rights activists and organisations have urged the government to put children at the centre of the development discourse and increase funding for their education, healthcare, and protection services. (PTI)
July 21, 2024 12:26 PM
IST
Budget 2024 Expectations Live Updates: All-party meeting underway
An all-party meeting is currently underway at Parliament ahead of the budget session commencement. Parliamentary Affairs Minister Kiren Rijiju is hosting the meeting, with attendance from various political leaders.
Notable attendees include Tiruchi Shiva, AIUML leader E.T. Mohammad Basheer, Jana Sena Party leader Bala Krishna, BJD leader Sasmit Patra, JDU leader Sanjay Jha, Union Ministers Ramdas Athawale, Praful Patel, Chirag Paswan, and AIMIM MP Asaduddin Owaisi. Union Ministers Rajnath Singh, Arjun Ram Meghwal, and BJP President JP Nadda are also present.
July 21, 2024 11:45 AM
IST
Budget 2024 Expectations Live Updates: What happened in pre-budget sessions
As part of the budget preparation, the Finance Ministry has completed several rounds of deliberations with different stakeholders of the economy.
These meetings started on June 20, during which Sitharaman met representatives from trade unions, the education and health sectors, employment and skilling, MSMEs, trade and services, industry, economists, the financial sector and capital markets, as well as representatives from the infrastructure, energy, and urban sectors.
July 21, 2024 11:27 AM
IST
Budget 2024 Expectations Live Updates: Sitharaman’s seventh budget
Finance Minister Nirmala Sitharaman will establish herself as the first Finance Minister to present seven consecutive budgets, breaking the record of Morarji Desai’s six budget presentations.
News business Budget 2024 Expectations LIVE Updates: Will Modi 3.0’s first budget bring change in tax slabs?
