Finance Minister Nirmala Sitharaman said in her Interim Budget 2024 speech that the government will not pursue taxpayers to recover old and disputed direct taxes up to ₹ 25,000 till the financial year 2009-10. Direct taxes demand up to ₹ 10,000 from the financial years 2010-11 to 2014-15 will also be withdrawn, she said.

Direct Tax Demand Below Rs 25,000 to be Withdrawn

In a big push to housing, Finance Minister announced that the government will launch a housing scheme for the middle class. The Finance Minister also announced that 2 crore more houses will be built under the Pradhan Mantri Awas Yojana – Gramin.

Housing Scheme For Middle Class to be Launched

FM Nirmala Sitharaman announced that fiscal deficit for FY 24-25 is estimated to be 5.1 per cent of GDP compared to 5.8 per cent in FY24.

Fiscal Deficit For FY 24-25 Estimated at 5.1% of GDP

Finance Minister Nirmala Sitharaman proposed no changes to taxation, direct or indirect, in Interim Budget 2024. "The rates remain same as proposed last financial year," the Finance Minister said.

No Changes to Tax Rates in Interim Budget 2024

To address fervour for domestic tourism, projects for port connectivity, tourism infra & amenities will be taken on our islands including Lakshadweep," says FM Nirmala Sitharaman. She added that long-term interest free loans will be given to states to develop tourist centres.

Big Push to Tourism in Budget 2024

Finance Minister Nirmala Sitharaman said that the government aims to convert 40,000 rail bogies To Vande Bharat standards. She added that the government also aims to expand metro rail and Namo Bharat To more cities.

'Govt to Convert 40,000 Bogies to Vande Bharat Standards'

Finance Minister Nirmala Sitharaman announced an 11.1 per cent increase in Capex outlay to 11.11 Lakh Crore, putting capex outlay at 3.4 per cent of GDP.

Capex Outlay Increased by 11.1%

Finance Minister Nirmala Sithraman said, "Rooftop solarisation will allow 1 crore households to get 300 units of free electricity every month." She added, "This will result in Rs 15,000 to Rs 17,000 savings per year for households."

'Solarisation to allow 300 units for free electricity for 1 cr households'

Finance Minister Nirmala Sitharaman presented Interim Budget 2024 in Parliament today. Beginning her speech highlighting the achievements of the Narendra Modi government, Sitharaman said, "Government is working with the approach of All Round, All Pervasive & All Inclusive Development. We will achieve the goal of Viksit Bharat by 2047."

Will Achieve Viksit Bharat Goal by 2047: FM

While Indian stock markets were choppy in opening trade, they recovered and were trading in green ahead of Interim Budget 2024. At 10:30 am, Sensex was over 230 points higher while Nifty was over 60 points up. 

Stock Markets in Green Ahead of Budget 2024

Ahead of Interim Budget 2024, social media posts claimed that the government will announce a 3-day week off. However, the government refuted these claims saying no such proposal has been made in Budget 2024. 

No 3-Day Week Off Policy

An increase in income tax exemption limits, support to women entrepreneurs, a long-term taxation policy and steps to boost consumption and savings are among the expectations of experts from the interim budget.

Increase in Tax Exemption Limits Among Expectations

Finance Minister Nirmala Sitharaman is set to present Interim Budget 2024 in Parliament on Thursday, February 1. 

Interim Budget 2024 to be Presented Today

This is the last Budget of the Narendra Modi government before the Lok Sabha Elections 2024, which are due later this year. A full Budget will be presented after a new government is sworn in after the elections.

Last Budget Before Lok Sabha Elections 2024

The key members involved in Budget-making are Revenue Secretary Sanjay Malhotra; Ajay Seth, Secretary of the Department of Economic Affairs; Tuhin Kanta Pandey, Secretary of the Department of Investment and Public Asset Management; Vivek Joshi, Secretary of the Department of Financial Services; TV Somanathan, Finance Secretary; V Anantha Nageswaran, Chief Economic Advisor; and FM Nirmala Sitharaman.

Meet the Team Behind Drafting Budget 2024 

Finance Minister Nirmala Sitharaman is going to announce her fourth consecutive budget on February 1, which is going to be an interim budget or vote on account. The Interim Budget 2024 is the last budget before the general elections 2024. Readers can visit here for the Interim Budget 2024 highlights after the budget is announced. Meanwhile, here are 10 key highlights from Budget previous Budget 2023-24.

Blinken Claims Iran's Nuclear Breakout Time Estimated At “1-2 Weeks”

Billionaire Sultan Ibrahim Iskandar Crowned Malaysia’s 17th King

38,848 Palestinians Killed In Israel-Hamas War, Say Gaza Officials

China Slams US Election Focus, Says Taiwan “Internal Affair”

Children Among Seven Killed In Suspected Arson Attack In France's Nice

7.3 Magnitude Earthquake Jolts Chile, No Tsunami Warning Issued

What’s Behind Bangladesh’s Violent Student Protests?

One Killed As Houthis Rock Tel Aviv With “Undetectable” Drone “Jaffa”

Argentina Marks 30th Anniversary of Deadly Jewish Community Centre Bombing

“Not The Fully Story…” | Kamala Harris Slams Republican “Unity” Message

Bad Newz Movie Review: Vicky Kaushal Shines In A Mediocre Script Filled With Chaos & Confusion

GOP Convention: J.D. Vance Calls Out Job Losses Due to 'Sweetheart DealJobs

Las Vegas Campaign: President Biden Tests Positive for COVID-19 with Mild Symptoms

Public Transport Suspended, Expressways Closed Amid Heavy Rain In South Korea

9 Dead, Several Injured As Armed Assailants Open Fire At Mosque In Oman from Rooftop

Ukrainian Charity Upgrades Homes Damaged In War With Safer, More Affordable Windows | Ukraine War

Cyanide Kills 6 Foreigners, Including 2 US Nationals And Suspect, in Bangkok Hotel: Thai Police

Watch: New Video Shows Trump’s Attack Lying Flat On Roof Moments Before Opening Fire

Lara Trump Recounts Moment She Heard About Assassination Attempt on Her Father-in-Law

Nikki Haley Backs Ex-rival Trump At RNC 2024, Says Strong President Prevents Wars

US Secretary of State Antony Blinken on July 19 discussed Iran's political landscape following its recent elections, noting the continued influence of Iran's supreme leader alongside the election of a new reformist president.He cautiously expressed hope for diplomatic engagement while reiterating the U.S.'s commitment to preventing Iran from acquiring nuclear weapons.Blinken referenced the previous success of the nuclear agreement and voiced concern over its abandonment, highlighting Iran's now shortened estimated breakout time for nuclear capabilities, ranging from one to two weeks.He emphasized ongoing efforts to closely monitor Iran and to coordinate international responses through sanctions and alliances, underscoring the importance of global cooperation to address the diplomatic challenges posed by Iran's nuclear program.

Blinken Claims Iran's Nuclear Breakout Time Estima...

Billionaire Sultan Ibrahim Iskandar Crowned Malays...

38,848 Palestinians Killed In Israel-Hamas War, Sa...

China Slams US Election Focus, Says Taiwan “Internal Affair”

Children Among Seven Killed In Suspected Arson Att...

7.3 Magnitude Earthquake Jolts Chile, No Tsunami W...

What’s Behind Bangladesh’s Violent Student Protests?

One Killed As Houthis Rock Tel Aviv With “Undetect...

Argentina Marks 30th Anniversary of Deadly Jewish ...

“Not The Fully Story…” | Kamala Harris Slams Repub...

Bad Newz Movie Review: Vicky Kaushal Shines In A M...

GOP Convention: J.D. Vance Calls Out Job Losses Du...

Las Vegas Campaign: President Biden Tests Positive...

Public Transport Suspended, Expressways Closed Ami...

9 Dead, Several Injured As Armed Assailants Open F...

Ukrainian Charity Upgrades Homes Damaged In War Wi...

Cyanide Kills 6 Foreigners, Including 2 US Nationa...

Watch: New Video Shows Trump’s Attack Lying Flat O...

Lara Trump Recounts Moment She Heard About Assassi...

Nikki Haley Backs Ex-rival Trump At RNC 2024, Says...