Budget 2024 Costlier and Cheaper Items Highlights - Economy doing well, inflation is moderate: Nirmala Sitharaman
Union Budget 2024 Highlights: The Finance Minister made no changes in the taxation structure in what can be seen as a relief to taxpayers.
Union Budget 2024 Highlights: Union Finance Minister Nirmala Sitharaman presented the Interim Budget for the fiscal year 2024, underlining the government's commitment to stability in taxation and a strategic approach to encourage economic growth.
The Finance Minister made no changes in the taxation structure. Also, no announcement on what gets cheaper or costlier was made by the Finance Minister in her 2024 Union Budget speech.
However, she talked about being ‘atmanirbhar’ for oil seeds. "Building on the initiative announced in 2022, a strategy will be formulated to achieve 'atmanirbharta' for oilseeds, such as mustard, groundnut, sesame, soybean, and sunflower. This will cover research for high-yielding varieties, widespread adoption of modern farming techniques, market linkages, procurement, value addition, and crop insurance," Sitharaman said.
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What got cheaper and what costlier in 2023-24
Cheaper: TVs, smartphones, compressed gas, shrimp feed, lab-grown diamonds, machinery for manufacturing lithium-ion cells for EVs
Costlier: Cigarettes, bicycyles, imitation jewellery, air travel, electric chimney, copper scrap, textiles READ MORE
Union Budget 2024: To boost domestic production of oilseeds
To reduce dependence on imports of edible oils to meet domestic demand, the interim Budget also proposes that a strategy will be made to make the country self-reliant by boosting domestic production of oilseeds.
Budget 2024 Costlier and Cheaper Items Live Updates: Significant move towards digitisation
"The Interim budget marks a significant move towards India's digitisation. In the budget 2023-24, the government announced an outlay of 4795.24 crore for its Digital India program which ensured universal access to high-speed internet and digital literacy initiatives. This year, in a bid to bolster R&D in sunrise domains, Honourable FM, Nirmala Sitharaman, announced a corpus of 1 Lakh Cr with 50 year interest free loan. Dubbing this period as the golden era for innovation and entrepreneurship, she went on to say that the corpus will provide long term financing or refinancing with long tenures and low or nil rates. The budget, undeniably, is leaving no stone unturned to bridge the gap between youth and technology to realise the aim of a fully developed India (“Viksit Bharat”) by 2047," Abbhinav R Jain, CFO, AdCounty Media.
Budget 2024 Costlier and Cheaper Items Live Updates: Pragmatic approach
"In this budget announcement, the government has taken a reflective and pragmatic approach, summarizing the achievements of the past decade rather than making bold announcements. This interim budget seems to be a strategic move, avoiding major actions before the upcoming election. The emphasis on continuity and stability is evident, setting the stage for potential impactful measures in the post-election period. The extension of Ayushman Bharat cover to all Anganwadi and Asha workers, along with the consolidation of maternal and child healthcare schemes into a comprehensive initiative, demonstrates a commitment to inclusive healthcare. While it may be viewed as a status quo budget on the surface, it signifies a responsible and measured fiscal strategy, showcasing the government's dedication to maintaining a positive economic trajectory. The anticipation of more detailed fiscal numbers and micro financial parameters will provide a clearer picture of the country's economic direction. Overall, the budget lays the foundation for future developments and affirms the government's confidence in the positive trajectory of the nation," said Avinash Deshmukh, COO, iThrive
Budget 2024 Costlier and Cheaper Items Live Updates: IITs, 15 AIIMS, large number of other institutions set up since 2014
A large number of new institutions of higher learning, namely 7 IITs, 16 IIITs, 7 IIMs, 15 AIIMS and 390 universities have been set up since 2014, Union Finance Minister Nirmala Sitharaman said on Thursday.
Presenting the interim budget 2024-25, Sitharaman also said 3000 new ITIs have been established.Budget 2024 Costlier and Cheaper Items Live Updates: Nothing but to woo people in Lok Sabha election, says Adhir Ranjan Chowdhury
After the announcement of the Interim Budget 2024-25 today, Congress MP Adhir Ranjan Chowdhury said that it is nothing but to woo people in this year's Lok Sabha elections.
Budget 2024 Costlier and Cheaper Items Live Updates: Govt pegs non-tax revenue from communications at Rs 1.20 lakh crore for FY25
The government has pegged non-tax revenue collection estimates from the communications sector at about Rs 1.20 lakh crore for 2024-25 and expects to exceed the budget estimates for the current fiscal.
Budget 2024 Costlier and Cheaper Items Live Updates: Sitharaman's shortest budget speech ever
Finance Minister Nirmala Sitharaman on Thursday presented her sixth consecutive budget with a speech lasting 56 minutes, her shortest-ever.
Sitharaman, who holds the distinction of delivering the longest budget speech at 2.40 hours in 2020, was cheered at regular intervals by the treasury benches -- her remarks on the presentation of the full budget by "our government" in July receiving the loudest applause.
Budget 2024 Costlier and Cheaper Items Live Updates: Rs 1249 crore for salaries of union ministers, entertainment of guests, ex-governors
The interim budget 2024-25 on Thursday allocated Rs 1,248.91 for the expenses incurred by the council of ministers, cabinet secretariat, prime minister's office, and on hospitality and entertainment of State guests.
The allocated amount is substantially lower than Rs 1803.01 crore earmarked in 2023-24.
Budget 2024 Costlier and Cheaper Items Live Updates: Significant boost to the agricultural sector
"The government's commitment to a "Viksit Bharat" and the vision for a prosperous India by 2047, reflects a broader vision for fostering prosperity and inclusivity in India. The budget has provided a significant boost to the agricultural sector and focussed on cultivating a thriving environment for the startup ecosystem. The crop insurance will offer farmers direct financial assistance, fostering awareness and growth in rural India. The emphasis on offering adequate financial help to MSMEs will pave the way for small enterprises to grow, generate employment, and compete globally. The interim budget further supercharges entrepreneurship, granting 43 crore loans worth INR 22.5 lakh crore through initiatives like Fund of Funds, Startup India, and Startup Credit Guarantee Schemes," said, Ankit Agrawal, CEO and Co-Founder InsuranceDekho.
Budget 2024 Costlier and Cheaper Items Live Updates: Reducing import duties on smartphone components and spare parts is a remarkable move
“The decision of Ministry of Finance to reduce import duties on smartphone components and spare parts is a remarkable move. This strategic move aligns with the industry's collective request to rationalize duty structures, transitioning from 15% to 10%, thereby fostering enhanced competitiveness for the Indian smartphone sector on both domestic and international fronts. This favourable development will serve as a significant catalyst for smartphone manufacturing entities, TECNO included, deeply committed to the principles of 'Make-in-India.' TECNO is steadfast in its commitment to fostering industry growth through the augmentation of manufacturing and supply chain operations within India,” Arijeet Talapatra, CEO of TECNO Mobile India.
Budget 2024 Costlier and Cheaper Items Live Updates: Robust emphasis on fostering innovation
“The 2024 Interim Budget has placed a robust emphasis on fostering innovation and embracing cutting-edge technologies to realize the ambitious goal of 'Viksit Bharat by 2047.' It rightly underscores the pivotal role that technology plays in shaping our economic landscape. A notable strategic move is the allocation of a 1-lakh crore corpus through a 50-year interest-free loan, aimed at incentivizing the private sector to elevate their investments in Research and Development (R&D) and propel digital innovation. Financial backing provided to start-ups is also poised to make the ecosystem flourish and contribute significantly to the overall economic landscape. This forward-looking budget not only fuels the growth of the IT sector but also actively supports a comprehensive skills development ecosystem, ensuring the creation of a workforce that is geared for the future. As technology continues its rapid advancement, the 2024 interim budget emerges as a catalyst, steering the IT sector, including the robust geospatial sector toward sustainable excellence and global competitiveness. The visionary initiatives outlined in this budget position India on the trajectory of becoming a technological powerhouse, laying the foundation for a prosperous and globally influential nation,” Esri India, Managing Director, Agendra Kumar, said.
Budget 2024 Costlier and Cheaper Items Live Updates: Budget is balanced
"FM’s interim budget is balanced from the point of view of adhering to fiscal prudence, boosting infrastructure growth and prioritizing focus on four key sections of the economy - the poor, women, youth and farmers. We believe the FM’s focus on higher outlay for infrastructure will help in boosting the broader economy and in the long term will boost investment activity. The government’s support to MSMEs, women entrepreneurs and the agricultural sector aptly aligns with our aim to provide credit support to MSMEs, small business owners, farmers and women entrepreneurs thereby addressing their economic needs. FM’s focus on addressing housing challenges by building two crore additional homes under the PM Awas Yojana-Grameen is certainly positive for boosting the housing sector. While inflation has been a concern globally, FM’s focus on staying on the path of fiscal prudence in the interim budget, will surely be an enabler for stable interest rate scenario in the economy and bodes well for the overall financial sector," said George Alexander Muthoot, MD, Muthoot Finance.
Budget 2024 Costlier and Cheaper Items Live Updates: Higher allocation to PM Aavaz Gramin will be beneficial
“Though the FM has not raised the cap on the affordable housing segment, the government’s focus on middle-class housing by announcing a scheme to help them buy or build their own houses will boost the country’s housing sector and home loan market. The higher allocation to PM Aavaz Gramin will also be beneficial for the rural housing segment. The measures will also stimulate the core sector output demand and rural jobs. Overall, it is a growth-oriented Budget, which is planning to spend 3.4% of the GDP for capital expenditure. It is an 11.5% hike compared to the previous year. I hope that the government’s greater emphasis on rooftop solar, green energy, MSMEs, food processing industries, Rs 1-lakh crore innovation fund, railway economic corridors, aviation, tourism and medical education will further stimulate growth and it will hasten the economic activities across sectors,” Ravi Subramanian, MD & CEO, Shriram Housing Finance ltd., said.
Budget 2024 Costlier and Cheaper Items Live Updates: Higher allocation to PM Aavaz Gramin will be beneficial
“Though the FM has not raised the cap on the affordable housing segment, the government’s focus on middle-class housing by announcing a scheme to help them buy or build their own houses will boost the country’s housing sector and home loan market. The higher allocation to PM Aavaz Gramin will also be beneficial for the rural housing segment. The measures will also stimulate the core sector output demand and rural jobs. Overall, it is a growth-oriented Budget, which is planning to spend 3.4% of the GDP for capital expenditure. It is an 11.5% hike compared to the previous year. I hope that the government’s greater emphasis on rooftop solar, green energy, MSMEs, food processing industries, Rs 1-lakh crore innovation fund, railway economic corridors, aviation, tourism and medical education will further stimulate growth and it will hasten the economic activities across sectors,” Ravi Subramanian, MD & CEO, Shriram Housing Finance ltd., said.
Budget 2024 Costlier and Cheaper Items Live Updates: Fiscally prudent Budget
"By presenting a fiscally prudent Budget, the government has created conducive conditions for the private capex cycle revival. A strong push given to rural housing and agri-allied activities augurs very well for the business model of retail-oriented NBFCs.
Today's Budget will improve the international investors' perception about India's macro-financial stability and strengthen India's position as one of the best investment destinations in the global space," said Sudipta Roy, Managing Director & CEO, L&T Finance Holdings Ltd.
Budget 2024 Costlier and Cheaper Items Live Updates: Fostering entrepreneurship and growth in the retail sector
Prerna Kalra, Co-founder and CEO of Daalchini Technologies, an intelligent retailing network of smart vending machines said, “We welcome the Government’s budget, which is a testament to their commitment to fostering entrepreneurship and growth in the retail sector. The increase in the threshold for presumptive taxation from ₹2 crore to ₹3 crore is a significant move that will boost the retail industry. Furthermore, the promotion of technologies and innovations through start-ups and the sanctioning of 43 crore loans aggregating to ₹22.5 lakh crore under the PM Mudra Yojana for entrepreneurial aspirations, are commendable steps towards nurturing the startup ecosystem.
"The focus on the empowerment and well-being of women, with 30 crore Mudra Yojana loans given to women entrepreneurs, reflects the Government’s dedication to driving the country forward. These measures are already reflecting in the increasing participation of women in the workforce. This budget is a promising step towards a more inclusive and prosperous future for our country.”
Budget 2024 Costlier and Cheaper Items Live Updates: Shows government's unwavering focus on infrastructure development
"Finance Minister underscored the government's recognition of the significance of homeownership. In a notable announcement, the FM stated a housing scheme would announce soon targeting the middle class, extending to those residing in rented houses with the aim of facilitating the construction or purchase of their own homes. This initiative is expected to revitalize the Mid housing & Affordable housing sector.
Moreover, with the economic scenario improving and the average real income of individuals witnessing a 50% increase, optimistic expectations abound for the real estate sector to thrive across all segments.
An additional favorable development is the government's unwavering focus on infrastructure development, reflected in the 11.1% increase in the outlay for infrastructure. The government's ambitious goal of transforming India into a 'Viksit Bharat' by 2047 is poised to create a conducive environment for the expansion of the overall economy and the real estate sector as well," Pradeep Aggarwal, Founder & Chairman, Signature Global (India) Ltd., said.
Budget 2024 Costlier and Cheaper Items Live Updates: Indirect boost to the real estate sector
"While the interim budget didn’t directly address the real estate sector’s key demands, it has provided indirect boost to the real estate sector with enhanced capital expenditure. The move to enable deserving sections to build their own houses and the push to affordable housing will eventually bring about welfare for all, thereby enhancing the demand for residential real estate along with push to allied industries. Reduction in compliance and relaxation of regulatory provisions is a welcome move from ease of doing business perspective and will aid the growth of the real estate sector. The unwavering focus on infrastructure upgrades and building connectivity across the country is noteworthy move for the industry as it will benefit real estate growth in not just the top cities but in tier 2 & 3 cities across the country. The buoyancy which we have witnessed in the realty sector in the recent past is set to continue in the near term. However, there are several grey areas when it comes to schemes, taxation, funding and others where the government should provide a helping hand going forward. While these policies are welcome, real estate which is a booming sector would have got a further fillip with greater allocation to it. Recognizing the pivotal role the real estate sector plays in India’s economic development, we are hopeful that the government would address key concerns and provides a conducive policy environment in the near future," Ramani Sastri - Chairman & MD, Sterling Developers Pvt. Ltd
Budget 2024 Costlier and Cheaper Items Live Updates: Withdrawal of pending income tax demands is welcome move
"We commend the government's visionary approach in crafting a comprehensive roadmap for Vikasit Bharat, emphasizing governance, development, and performance. This budget perfectly aligns with our vision of fostering a progressive and inclusive India. The government's commitment to housing development through the Pradhan Mantri Awas Yojana - Gramin is laudable, with the announcement of 2 crore additional houses reflecting a dedicated effort to improve citizens' lives and address rural housing challenges. Further, the reiteration of a new scheme for the urban middle class population, also would boost confidence of both the common man and the real estate sector. We now look forward for a clear roadmap of this scheme. Thes proactive steps underscores the government's unwavering commitment to holistic development and the welfare of our people. The announcement in the budget regarding the withdrawal of pending income tax demands, particularly for amounts up to ₹25,000 for the period up to the financial year 2009-10 and up to ₹10,000 for financial years 2010-11 to 2014-15, is a welcome move. This decision, benefiting a crore taxpayers, demonstrates the government's commitment for easing financial burdens and prioritizing the welfare of our citizens,"
G Hari Babu, National President of NAREDCO, said.Budget 2024 Costlier and Cheaper Items Live Updates: Focus on empowering MSME sector evident
"The government’s focus on empowering the MSME sector is evident. The commitment to providing timely and adequate finances, relevant technologies, and training is welcomed. The emphasis on orienting the regulatory environment to facilitate MSME growth indicates a supportive policy framework. The increased threshold for presumptive taxation from ₹2 crore to ₹3 crore is seen as a positive step, providing relief to small retail businesses, allowing them to focus on growth and development," Mandeep Arora, MD & Co-founder, UBON said.
Mandeep anticipates that these measures will enhance the competitiveness of MSMEs on a global scale. In alignment with the 'Panchamrit' goals, the founder notes the government's focus on sustaining high and resource-efficient economic growth. The commitment to energy security is perceived as a positive step, ensuring availability, accessibility, and affordability for businesses. To meet investment needs, the founder appreciates the government's commitment to preparing the financial sector in terms of size, capacity, skills, and regulatory framework. This will contribute to a robust financial ecosystem that can support the growth aspirations of both MSMEs and retail businesses.
Budget 2024 Costlier and Cheaper Items Live Updates: Golden era for our tech-savvy youth
"Post the Union Budget announcement, mTap stands enthused by the visionary measures outlined by Finance Minister Nirmala Sitharaman. The government's commitment to nurturing entrepreneurial dreams through initiatives like PM Mudra Yojana, sanctioning an impressive 43 crore loans totaling Rs. 22.5 lakh crore, along with the support from Fund of Funds, Startup India, and Startup Credit Guarantee Schemes, reflects a concerted effort to empower our youth.
The establishment of a corpus, earmarked at Rs 1 lakh crore with a 50-year interest-free loan, heralds a golden era for our tech-savvy youth. It catalyzes private sectors, including mTap, to scale up research and innovation significantly, especially in sunrise domains. As FM Sitharaman hints at presenting a detailed roadmap for Viksit Bharat in the full Budget in July, we eagerly await a strategic vision that aligns with our pursuit of innovation and growth. This budget sets the stage for a progressive and vibrant technology landscape in the country, and we look forward to leveraging these opportunities to contribute to India's technological prowess," Roopak Gupta Founder & CEO mTap.
Budget 2024 Costlier and Cheaper Items Live Updates: Promoting the startup ecosystem
“The interim budget showed a glimpse of promoting the startup ecosystem in India but didn’t have much takeaway for the senior citizens. It was positive to see that certain tax exemptions for startups and IFSC units, which were expiring on March 31, 2023, have now been extended till March 31, 2025. There is an urgent need to address the growing challenges faced by senior citizens in India by making various elder care services more affordable and accessible. With no change in income tax slabs and continued higher GST rates on various elder care services offered by private players, including at-home elder care services, there is an urgent need to address these challenges. We need robust economic policies that foster the growth of the elder care service sector in India and make such services affordable,” Tarun Sharma, Founder and CEO, Yodda - Elder Care.
Budget 2024 Costlier and Cheaper Items Live Updates: Forward-looking measures
"Following the Interim Union Budget presented by the honorable FM, we welcome the commitment to de-congest high-traffic corridors not only aligns seamlessly with our goals of efficiency and cost reduction but also set the stage for fostering a skilled workforce integral to India's advancement. Recognizing the transformative impact of the government's visionary approach with PM Gati Shakti, and the heightened focus on multi-modal connectivity, we foresee abundant employment opportunities for the youth with technical skills in manufacturing, installation, and maintenance. The proposed rail corridors in the eastern region, coupled with the strategic India Middle East Europe Economic Corridor and the expansion of EV infrastructure, further solidify a holistic strategy for economic growth and environmental responsibility. We embrace these forward-looking measures, acknowledging their potential to reshape the industry and contribute significantly to our nation's progress," said, Sandeep Bansal, Chief Business Officer at Falcon Autotech.
Budget 2024 Costlier and Cheaper Items Live Updates: Support for overall growth and development
"We acknowledge the strategic direction outlined in the 2024 interim budget, particularly its focus on reinforcing the affordable housing sector through the increased allocation for the Pradhan Mantri Awas Yojana (PMAY). This puts a spotlight on the government's unwavering commitment to encouraging inclusive real estate development, acknowledging the key role of affordability in comprehensively addressing housing needs. The allocation of 70% of PMAY houses to women in rural areas is of special significance and will go a long way towards providing secure living spaces and advancing women empowerment. The progress in the implementation of PM Awas Yojana (Grameen), approaching the target of three crore houses, with a commitment to taking up construction of two crore additional houses over the next five years, reflects the government’s dedication to meet the growing demand for housing in rural areas.
Maintaining a delicate balance between promoting affordable housing and ensuring sustained growth across all segments is crucial, and will no doubt foster an environment conducive to growth, investment, and the holistic development of the real estate ecosystem. Moreover, the increased outlay for infrastructure to Rs 11.11 lakh crores in FY25, is a welcome move, giving further support for overall growth and development in the sector.
Building on these developments, we look forward to continuing to help develop a robust and inclusive real estate landscape in India," said Ashwin Sheth, CMD, Ashwin Sheth Group.
Budget 2024 Costlier and Cheaper Items Live Updates: Boon for the IT industry and sunrise sectors
"The Interim Budget 2024 has begun on a very positive note. Finance Minister Seetharaman’s announcement of the government setting a capex target of Rs. 11.1 lakh crore for FY25 is sure to have a ripple effect across industries. AIFs can leverage the momentum by focusing on MSME investment, particularly in the infrastructure and agriculture sectors. Start-up ventures aligned with the government's priority sectors can expect to receive significant boosts, as increasing infrastructure development creates an environment conducive to innovation and growth. The 50-year interest-free loan for a corpus of Rs. 1 lakh crore can be seen as an indispensable boon for the IT industry and sunrise sectors. We can expect the funding to bolster research and innovations, thereby improving India’s position as a global technology leader in the coming decade," said Manick Wadhwa, Director at SKI Capital.
Budget 2024 Costlier and Cheaper Items Live Updates: Raises hopes for Indian Real estate sector
"This year's interim Budget presented by Finance Minister Nirmala Sitharaman is a welcome move for the Indian Real Estate. The budget presented has raised hopes for the Indian Real estate sector. The capital expenditure outlay on the Infrastructure development has been a welcoming move. Whereas easing the legal provision is a need of the hour. The possibilities of high-end Income group investing in the sector will undoubtedly see the shift in the completion of the successful residential & commercial project completion," said Chirag Mehta, Founder, Arbour Investments.
Budget 2024 Costlier and Cheaper Items Live Updates: Budget lays foundation for a more inclusive and prosperous India
"The Interim Union Budget 2024 has prioritized the betterment of the economically weaker sections, women, farmers, and the youth, recognizing their crucial role in nation-building. The pledge to build an additional two crore houses in the next five years under the PM Awas Yojana Grameen is laudable. It underscores the government’s commitment to ensuring housing for all.
Honorable Finance Minister Ms Nirmala Sitharaman's announcement of an upcoming scheme targeting the middle class, especially those living in rented houses, slums, and unauthorized colonies, is a positive stride towards inclusive growth.
Anticipating a comprehensive roadmap for Viksit Bharat in the Full Budget this July, we believe it will reinforce the government's dedication to economic development and welfare," Rahul Mehrotra, MD & CEO, RHDFCL, said.
Budget 2024 Costlier and Cheaper Items Live Updates: Measures anticipated to spur economic growth
"The budget prominently highlights a substantial emphasis on the tourism, aviation, and railways sectors. It's truly exciting to observe the government's keen attention to nurturing and expanding both domestic and spiritual tourism and highlighting Bharat's strength through global events like G20.
The dedicated efforts towards developing aviation and rail infrastructure, especially through the commendable initiatives of UDAN and the PM Gati Shakti scheme, encouraging States to promote iconic tourists’ centres by providing interest-free loans are noteworthy with special focus on developing island tourism and fortifying port connectivity, including Lakshadweep.
These measures are anticipated to spur economic growth, create employment and create new opportunities, marking a progressive move towards positioning India as a global destination," said Nishant Pitti, CEO & Co-Founder, EaseMyTrip.
Budget 2024 Costlier and Cheaper Items Live Updates: Unprecedented commitment to holistic development
"In a transformative stride, the Finance Minister's Interim Budget cuts across a new dawn for India's middle class and the real estate sector. The promise to construct 2 crore additional homes empowers millions to realize their dream of owning a home and catalyzes a ripple effect of economic revival. With an 11.1% increase in infrastructure outlay, amounting to a monumental ₹11,11,111 crore, we witness an unprecedented commitment to holistic development - be it digital, social, or physical infrastructure. This approach, which includes unifying the Goods and Services Tax and improving digital infrastructure, helps create a strong, inclusive, and lasting economy. The vision of 'One Nation, One Market, One Tax' encapsulates this era of reform, reflecting a nation on the precipice of historic transformation, fueled by strengthening the financial sector and proactive inflation management. Indeed, these measures collectively script a narrative of hope, progress, and prosperity for every Indian," B K Malagi, COO at Experion Developers, said.
Budget 2024 Costlier and Cheaper Items Live Updates: Poised to compete globally
"In unveiling the 2024 Interim Budget, Finance Minister Nirmala Sitarama has charted a visionary course for our nation's economic future. With a commitment to fostering sustained growth, promoting inclusive and sustainable development, and enhancing productivity, the government is set to create unprecedented opportunities for both public and private sectors. The buoyant economy, propelled by active foreign investment, is a testament to our stability and success. Through strategic policies, performance reforms, and transformative initiatives for MSMEs, we are poised to compete globally. The robust regulatory framework by IFSCA and GIFT IFSC is a beacon for the finance sector, paving the way for innovative products and services that will propel us into a prosperous tomorrow," said Roshan Shah, Co-founder & CEO, VoloFin.
Budget 2024 Costlier and Cheaper Items Live Updates: Govt to mandate phased blending of biogas in CNG, PNG
Finance Minister Nirmala Sitharaman on Thursday said that the government will mandate the phased blending of compressed biogas (CBG) in compressed natural gas (CNG) for transport and piped natural gas (PNG) for domestic purposes.
Budget 2024 Costlier and Cheaper Items Live Updates: Markets turn highly volatile post Budget
Benchmark equity indices turned highly volatile after the presentation of the interim Budget on Thursday. After oscillating between highs and lows, the 30-share BSE Sensex declined 139.37 points to 71,612.74 points in the noon trade.
Union Budget 2024 LIVE, List of costlier and cheaper items: FM announces plans to increase milk and dairy production
"FM Sitharaman announces plans to increase milk and dairy production," says FM Sitharaman
Union Budget 2024 LIVE, List of costlier and cheaper items: This will be golden era
"For our tech-savvy youth, this will be a golden era. A corpus of Rs 1 lakh crore will be established with 50-year interest-free loan provided. It will be for long-term financing or re-financing with low or nil interest rates," says FM Sitharaman
Union Budget 2024 LIVE, List of costlier and cheaper items: New scheme for strengthening deep-tech
"A new scheme will be launched for strengthening deep-tech technologies for defence purposes and expediting self-reliance," says FM Nirmala Sitharaman.
Union Budget 2024 LIVE, List of costlier and cheaper items: ASHA, Anganwadi workers to be covered under Ayushman Bharat
"The health cover under the Ayushman Bharat scheme will be extended to all ASHA and Anganwadi workers and helpers," says FM Nirmala Sitharaman.
Union Budget 2024 LIVE, List of costlier and cheaper items: Economy is doing well
"The economy is doing well; people are living better and earning better with greater aspirations for future. Average real income of people has increased by 50%, inflation is moderate," says FM Nirmala Sitharaman.
Union Budget 2024 LIVE, List of costlier and cheaper items: Next 5 years will be years of unprecedented development
The next 5 years will be years of unprecedented development and golden moments to realise the dream of developed India by 2047, says FM Nirmala Sitharaman.
Union Budget 2024 LIVE, List of costlier and cheaper items: Inflation is moderate
"The economy is doing well. Inflation is moderate," says FM Nirmala Sitharaman.
Union Budget 2024 LIVE, List of costlier and cheaper items: Govt focused on GDP
The government is equally focused on GDP - Governance, Development and Performance - says FM Nirmala Sitharaman.
Union Budget 2024 LIVE, List of costlier and cheaper items: Female enrolment in higher education up by 28%
On 'Nari Shakti, FM Sitharaman 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."
Union Budget 2024 LIVE, List of costlier and cheaper items: Skill India Mission has trained 1.4 crore youth
The Skill India Mission has trained 1.4 crore youth, upskilled and re-skilled 54 lakh youth, and established 3000 new ITIs. A large number of institutional higher learning, namely 7 IITs, 16 IIITs, 7 IIMs, 15 AIIMS and 390 Universities have been set up, says Nirmala Sitharaman.
Union Budget 2024 LIVE, List of costlier and cheaper items: Young country has high aspirations, says Sitharaman
Our young country has high aspirations, pride in its present & hope and confidence for a bright future. We expect that our govt based on its stupendous work will be blessed again by the people with a resounding mandate - Nirmala Sitharaman.
Union Budget 2024 LIVE, List of costlier and cheaper items: Working to make India a developed country by 2047
We are working to make India a developed country by 2047, says Nirmala Sitharaman.
Union Budget 2024 LIVE, List of costlier and cheaper items: Focus on four major pillars
We need to focus on four major pillars - poor, women, youth and annadatas, says Nirmala Sitharaman while presenting
Union Budget 2024 LIVE, List of costlier and cheaper items: Inclusivity is priority
Modi government covered all aspects of inclusivity, says Nirmala Sitharaman in her Budget speech.
Union Budget 2024 LIVE, List of costlier and cheaper items: Economy has seen positive transformation
Economy has seen a positive transformation over the last 10 years, says Sitharaman
Union Budget 2024 LIVE, List of costlier and cheaper items: Sitharaman begins Budget speech
Union Budget 2024 LIVE, List of costlier and cheaper items: Sitharaman presents Budget
Budget 2024 Costlier and Cheaper Items Live Updates: Focus on capex, infrastructure - CII President
Ahead of the presentation of the Union Interim Budget, Ramachandran Dinesh, President, Confederation of Indian Industry said that the government should focus on capital expenditure, which has happened very well in the past.
Budget 2024 Costlier and Cheaper Items Live Updates: Will present full budget after returning to power, says Darshana Jardosh
We will present a full-fledged budget after returning to power (after 2024 Lok Sabha elections)," says Union MoS Darshana Jardosh.
Budget 2024 Costlier and Cheaper Items Live Updates: Cabinet approves interim budget
Union Cabinet headed by Prime Minister Narendra Modi approves pre-election Budget
Budget 2024 Costlier and Cheaper Items Live Updates: Custom duty rates were changed last year
Last year, Finance Minister Nirmala Sitharaman announced changes in custom duty rates which affected the prices of various commodities.
Budget 2024 Costlier and Cheaper Items Live Updates: Finance Minister Nirmala Sitharaman before presenting Budget
Budget 2024 Costlier and Cheaper Items Live Updates: Sitharaman meets President before presenting Union Budget
Union Minister of Finance and Corporate Affairs Nirmala Sitharaman along with Ministers of State Dr Bhagwat Kishanrao Karad and Pankaj Chaudhary and senior officials of the Ministry of Finance called on President Droupadi Murmu at Rashtrapati Bhavan before presenting the Union Budget.
Budget 2024 Costlier and Cheaper Items Live Updates: Real estate has seen a jump in 2-3 years
"I have a lot of expectations with today's budget as they will have to give some benefits to the real estate industry. If those benefits are received, the dreams of the common man for a house will be realised," Pradeep Kumar Aggarwal - Founder & Chairman, Signature Global (India) Limited.
Budget 2024 Costlier and Cheaper Items Live Updates: Commercial LPG prices hiked
Ahead of the Union Budget, state-run oil marketing companies increased the prices of commercial LPG by up to Rs 14 per cylinder of 19 kg in metros, effective Thursday, February 1, 2024.
Budget 2024 Cheaper vs Dearer LIVE: Past 10 years have seen impact on prices of a host of items for the consumer
In the past 10 years, Budget announcements have impacted the rates of several items.
While mobiles, TVs LED lamps, solar lamps, cashew nuts, set top boxes, imitation jewellery, routers, affordable homes, tempered glass, and certain chemicals have been made cheaper, products ranging from cigarettes, tobacco, cars, motorcycles, air travel, e-reading devices, footwear, furniture, umbrellas, and chocolates have been rendered costlier.
2020-21: What got cheaper and what costlier?
It was the budget when the coronavirus pandemic had sarted. It hit the Indian economy severely. The share market was down, people were losing jobs, small businesses were shutting, and large companies were also struggling. As a result of these factors, the pruchasing power of a common man took a hit. It was a challenge for the government to cheque rising prices and present a budget that do not pinch a common man. Know what got cheaper and costlier in the financial year-
Cheaper: Raw sugar, skimmed milk, soya fibre, soya protein, certain alcoholic beverages, agro-animal based products, import of newsprint, lightweight and coated paper, purified terephthalic acid
Costlier: Medical equipment, footwear, furniture, wall fans, cigarettes and other tobacco products, tableware/kitchenware made of porcelain, clay iron, steel, copper, CV partsCheaper vs Dearer: What becomes cheaper and what more expensive today?
In the Union Budget 2021, for instance, while gold, silver, leather products, nylon clothes, and products made of iron, steel and copper become cheaper, item such as solar cells, mobile phones and chargers, imported gems and precious stones, imported AC and fridge compressors, and imported auto parts became dearer.
Budget Cheaper vs Dearer LIVE: Can you expect a lot of changes in Budget 2024?
Every year, economists, analysts, industries and the common man track Budget announcements closely to gauge their possible impact on the prices of goods and services.
In the Union Budget for 2023-24, for instance, the current administration where on one hand made items like TVs, smartphones and lithium-ion batteries for mobile phones cheaper, on the other, it rendered cigarettes, imitations jewellery, bicycles and air travel more expensive.
Union Budget 2024 LIVE Update: Ready to catch Budget announcements today?
Catch the fastest and easiest-to-follow, minute-by-minute coverage of announcements starting at 7 am.
Union Budget 2024 LIVE, List of costlier and cheaper items: Paperless Budget
Like the previous two Union Budgets, the Union Budget 2023-24 was also presented in paperless form.
Union Budget 2024 LIVE, List of costlier and cheaper items: Fiscal deficit target for 2023-24 pegged at 5.9% of GDP
Presenting the Union Budget 2023, Union Finance Minister Nirmala Sitharaman pegged the fiscal deficit target for 2023-24 at 5.9 per cent of gross domestic product (GDP).
Union Budget 2024 LIVE, List of costlier and cheaper items: Agricultural credit target increased in the last Budget
The government had proposed to increase the agricultural credit target to Rs 20 lakh crore with a focus on animal husbandry, dairy and fisheries in the last Budget. The agriculture sector of the country has been growing at an average annual growth rate of 4.6 per cent in the last six years.
Union Budget 2024 LIVE, List of costlier and cheaper items: Last Budget proposed to increase capital expenditure outlay by 33%
The last full Budget of Modi government 2.0 had proposed to increase capital expenditure outlay by 33 per cent to Rs 10 lakh crore in 2023-24, which would be 3.3 percent of the GDP. It was almost three times the outlay in 2019-20.
Union Budget 2024 LIVE, List of costlier and cheaper items: USD 5 trillion in 3 years
According to projections, India is expected to become the third-largest economy in the world with a GDP of USD 5 trillion in the next three years.
Union Budget 2024 LIVE, List of costlier and cheaper items: Indian economy is expected to grow 7.3 per cent
India's economy grew 7.2 per cent in 2022-23 and 8.7 per cent in 2021-22. The Indian economy is expected to grow 7.3 per cent in the current financial year 2023-24, remaining the fastest-growing major economy.
Union Budget 2024 LIVE, List of costlier and cheaper items: State of the Economy
The Indian economy is projected to grow close to 7 per cent in the financial year 2024-25 which starts this April, said the Ministry of Finance in a review report.
Union Budget 2024 LIVE, List of costlier and cheaper items: This is last session
This Budget session is going to be the last session before the upcoming Lok Sabha elections, which are expected to be held in April-May this year. The session will have a total of eight sittings spread over 10 days.
Union Budget 2024 LIVE, List of costlier and cheaper items: Interim Budget
This is an interim budget and it will take care of the financial needs of the intervening period until a government is formed after the Lok Sabha elections.
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