Name: As Joe Biden walks away, does he become a lame-duck president?
Uploaded: 2024-07-23T07:48:27+05:30
Description: As Joe Biden walks away, does he become a lame-duck president? Watch for more

The latest Economic Survey remains bullish on India’s growth and macroeconomic outlook. It pegged India’s GDP growth for FY25 at 6.5-7 per cent and the country’s inflation lower at 4.5 per cent.

Key Highlights of Economic Survey 2023-24: FY25 GDP Growth At 7%, Inflation at 4.5%, PPP Push

Economic Survey 2024 stated that the Government’s thrust on capex and sustained momentum in private investment has boosted capital formation growth.


Economic Survey 2024: India's Real GDP Grew By 8.2% In FY24, Economy Recovered, Expanded Post-pandemic

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 on Monday tabled the Economic Survey 2023-24 in Parliament, setting the stage for the Union Budget 2024-25. The Survey has unveiled the government’s key areas of policy focus in the short to medium term, both at the macro level and sectoral level.

Jobs Creation, Agri Push, Skill Development, MSME Support: Govt Unveils Key Policy Focus Areas

In the Budget 2023, under new tax regime, Finance Minister Nirmala Sitharaman had increased the income tax exemption limit by Rs 50,000 to Rs 3 lakh and the rebate under Section 87A of the Income Tax Act, 1961, was also raised from Rs 5 lakh to Rs 7 lakh, meaning that those earning up to Rs 7 lakh do not have to pay any tax under the new regime.



Budget 2024 May Raise Income Tax Exemption Limit to Rs 4 Lakh: Know Current Slabs Under New Tax Regime Vs Old Regime

The Economic Survey 2023-24 has cautioned against including sensitive food commodities like common rice, wheat, and most pulses in futures trading until markets are more developed, even as the government expands the list of commodities eligible for derivatives trading.



Economic Survey Acknowledges Rise Of Retail Investors, IPO Boom; Cautions Against F&O Trading

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

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.

As Joe Biden walks away, does he become a lame-duck president? 

Eva Varshney

As Joe Biden walks away, does he become a lame-duck president? Watch for more


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