FM Nirmala Sitharaman attends RBI Board of Directors meeting
Union Finance Minister Nirmala Sitharaman attended a meeting with members of the Central Board of Directors of the Reserve Bank of India (RBI) on Saturday in New Delhi. The meeting took place after the Union Budget 2024-25 and subsequent passage of the finance bill in the Lok Sabha, along with some government-moved amendments. Key Points
Economic TimesModi: India’s growth, stability exception in uncertain world
Aditi Tandon Tribune News Service New Delhi, July 30 In his first post-Budget remarks on Tuesday, Prime Minister Narendra Modi said he was an “exception to the rule of politicians forgetting promises once elections are over”, and assured that India... Key Points
The TribuneJobs will still be there, but...: What FM Sitharaman has to say on labour intensive sectors on AI hitlist
Budget 2024: The recent Union Budget, presented by the Finance Minister on July 23, unveiled a range of initiatives aimed at addressing the ongoing employment challenges, backed by an allocation exceeding Rs 2 lakh crore. However, the swift adoption of AI in sectors like construction and other labor-intensive industries raises concerns about its potential impact on the Modi 3.0 administration's employment agenda. Key Points
Economic TimesTop 500 companies will not be forced for internship programme, say govt sources
New Delhi [India], July 24 (ANI): Government sources have said that the top 500 companies will not be forced for the internship programme announced in the Union Budget. As outlined by Finance Minister Nirmala Sitharaman in the Union Budget 2024, the government will provide a stipend for the internships. “No company will be forced into […] Key Points
ThePrintNirmala to table record seventh Budget on July 23
parl Session from July 22 to AugUST 12. The Budget Session of Parliament will commence on July 22 with Union Finance Minister Nirmala Sitharaman set to present... Key Points
The Tribune India
Sharpen focus on education and health this Budget, experts urge FM
Although the pandemic is behind us, the focus on the health sector shouldn't be diluted, he added. There were also suggestions to tightly monitor the implementation of all such social sector schemes, he added. Facilities at schools and hospitals need to be further improved and vacancies filled up on time, some of them said in the meeting. In the interim Budget for FY25 in February, the government had pegged the outlay for the Ministry of Health and Family Welfare at ₹90,659 crore, up marginally from the FY24 Budget estimate of ₹89,155 crore. This outlay also includes spending on health research. Key Points
Economic TimesBudget must focus on employment generation, boost to manufacturing sector: Economists
Economists attending the pre-Budget consultation with Finance Minister Nirmala Sitharaman emphasized the need for the upcoming Budget to prioritize employment generation and bolster the manufacturing sector. They highlighted concerns over unemployment and urged the government to focus on job creation. There was consensus that with the economy showing resilience, stimulating consumption demand would not be a major challenge. Key Points
Economic TimesJust 7 stocks doing well in the US more justifiable than Indian smallcaps doing so well: Samir Arora
Samir Arora says coming to smallcaps, it does not matter if there is a graceful correction or a sharp correction because broadly the outperformance is unrealistic and not in line with any form of history, provided the cycle is over. In the middle of the cycles, there have been similar outperformance in previous phases also. So, it is basically not an avoid, but one has to scrutinise a lot before buying a smallcap. Key Points
Economic TimesBiden Budget Seeks More Aid for Families, Higher Taxes on Wealthy Households, Corporations
The president’s proposed Budget would boost federal spending to $7.3 trillion next fiscal year and raise taxes on wealthy people and large corporations. Key Points
mintKaruna Kumar busts rumours of Varun Tej’s Matka Budget being slashed
Karuna Kumar spoke in an interview and stated that the Budget for his film Matka hasn’t been reduced. He also revealed why they haven’t resumed shooting again. Key Points
Hindustan Times
Arvind Kejriwal's Delhi government presents Rs 76,000 crore Budget for 'Ram Rajya'
Delhi government today announced the Budget for the financial year 2024-25 based on the concept of 'Ram Rajya', with special attention given to all sections of the population. Chief Minister Arvind Kejriwal has highlighted the principles of AAP's governance inspired by 'Ram Rajya', including providing equal education, healthcare, and 24-hour access to electricity and water supply. Key Points
Economic TimesFocus on infra, culture — highlights from Maharashtra interim Budget & Opposition's criticism
Ahead of assembly polls & general elections, Ajit Pawar announces museum on Chhatrapati Shivaji Maharaj & Marathi language centres. Opposition says Budget made 'keeping polls in mind'. Key Points
ThePrintGender Budget estimates up 38.6% in 2024-25 over last year’s
Budget News: The quantum of ‘gender budget’ estimates involving schemes for welfare and empowerment of women and children in 2024-25 has shown an increase of 38.6% when compared to Budget estimates of 2023-24. Discover how increased allocations for women and girls by seven ministries contribute to this growth. Key Points
Times Of IndiaIt may take RBI few more months to start cutting rate: Roopali Prabhu of Sanctum Wealth
Roopali Prabhu, CIO and Head of Products and Solutions at Sanctum Wealth, said that it may take a few more months for the RBI to start cutting the rate. She also expects global cues to be a factor in the timing of the rate cut. Key Points
mintSitharaman gave her least complex Budget speech in 2024. But former FMs kept it simpler
According to a text sentiment analysis, nearly 36.5 per cent of the lines in Finance Minister Nirmala Sitharaman’s Interim Budget 2024 speech displayed positive sentiments. Key Points
ThePrint
Lok Sabha passes Finance Bill, completes exercise for interim Budget 2024-25
On Wednesday, the Lok Sabha approved the Union Government's interim Budget 2024-25, amounting to Rs 47.66 lakh crore, through a voice vote. Additionally, the lower house also passed the Budget of Rs 1.8 lakh crore for the Union Territory of Jammu and Kashmir, again via a voice vote. Finance Minister Nirmala Sitharaman piloted both budgets, along with the supplementary demands for grants and relevant appropriation bills. Key Points
Economic TimesETMarkets Smart Talk: Budget 2024 stands not just as a financial plan but as a manifesto of moderation ahe
Pradeep Gupta says the interim Budget for the 2024 general election serves as both a financial plan and a manifesto of moderation. It reflects a governance ethos that prioritizes steady growth over sporadic spurts. The Budget focuses on the whole of the nation, with special emphasis on youth, women, the poor, farmers, and the middle class. It balances growth and stability, innovation and employment, investment and savings, while keeping an eye on the long-term goal of a developed India. Key Points
Economic TimesRailway Budget 2024: Top 5 Indian Railways focus points for FM Sitharaman - safety, new trains, record capex & more
Railway Budget 2024: Indian Railways’ Budget for 2024-25 will be presented by FM Nirmala Sitharaman as part of the Union Budget 2024 speech on February 1, 2024. All eyes are on Railway Budget 2024 to shed light on the way ahead for the national transporter - from record capital expenditure outlay to new trains like Vande Bharat sleeper, Amrit Bharat Express, more Vande Bharat Express trains and focus on safety with the rollout of Kavach anti-collision train system. We take a look at the top expectations from Railway Budget 2024: Key Points
Times of IndiaOppn mocks ‘biggest budget’, says it’s visionless & misleading
The Budget has nothing for the PDA - 90% of the population...it is only for 10% people, Akhilesh Yadav has said. Key Points
Hindustan TimesUP govt announces Rs 7.36 lakh crore budget. 'State's largest ever,' says CM Yogi Adityanath
New schemes worth Rs 24,863.57 crore included, emphasis on women, youth, farmers and employment generation. Key Points
ThePrint
2024 Interim Budget: Emphasizing policy continuity in a mature economy
The interim Budget is reassuring with no big surprises. The fiscal deficit target for FY24 will be met and a tighter target is proposed for FY25, freeing up space for private borrowings. The Budget focuses on trade, tourism, and transportation, with investments in railway corridors, airports, and public transport. It also supports the PLI and IDEAS schemes and emphasizes managing inflation and inclusive growth. The Budget addresses women's and children's health, housing, and sustainability through the rooftop solar scheme. Overall, it indicates the government's intent and sets expectations for the full budget. Key Points
The Economic TimesLow-key interim Budget but drab is fab, FM
Read about the low-key interim Budget presented by Finance Minister Nirmala Sitharaman and the reasons behind it. Explore the impact of Budget freebies on elections and the economic stability achieved by Sitharaman. Key Points
Times Of IndiaIt was full Budget for some: 7 mid and smallcap stocks from fisheries, animal husbandry sector
While it was an interim Budget with no change in taxation laws and many other parts, for some sectors it was literally a full budget. The reason, the announcements made for them were pretty similar to what has been done in the past when a full Budget is presented. So, when an announcement about fisheries, animal husbandry or rural housing is made, the companies in the whole chain will get impacted in a similar manner had these announcements been made in a full budget. From an perspective of investing what needs to be realized is that in the last couple of years, there has been an effort on the policy level that other parts of the rural economy which are not agricultural related get the boost. Given the fact that it is not an easy task to change the rural income matrix, it might take some time for them to get reflected in the bottomline and not every company in the chain would be able to do it also. Key Points
Economic TimesGender Budget estimates up 38.6% in 2024-25 over last year’s
Budget News: The quantum of ‘gender budget’ estimates involving schemes for welfare and empowerment of women and children in 2024-25 has shown an increase of 38.6% when compared to Budget estimates of 2023-24. Discover how increased allocations for women and girls by seven ministries contribute to this growth. Key Points
Times Of IndiaView: A fiscally tighter Budget than market expectations
The FY26 Budget is expected to be even tighter, with a lower fiscal deficit target. The government surprised everyone by not announcing any new social schemes or expanding existing ones. Allocation for popular social schemes like MNREGA and Jal Jeevan Mission remains unchanged. The Budget focuses on boosting the investment cycle, with a significant increase in government capex, particularly on infrastructure projects. The tight fiscal situation may lead to lower interest rates and the possibility of policy rate cuts. Key Points
The Economic Times
Explained: Interim budget's unwavering focus on poor
India Business News: Discover how the interim Budget for 2023 highlights the government's focus on the poor and unveils their political strategy. Get insights into the expenditure management and the target audience for the upcoming elections. Key Points
Times Of IndiaBJP Budgets For Third Term
India Business News: Explore the Budget presented by Nirmala Sitharaman as BJP plans for their third term in power. Discover the government's focus on long-term measures for India's development and the messages conveyed to the average voter. Key Points
Times Of IndiaInterim budget: Steering towards sustainable and equitable growth
The interim Budget serves as a crucial milestone in this journey, aligning with broader goals of sustainability, inclusive development, infrastructure enhancement and fiscal responsibility. It hinges on harnessing the power of women, youth, farmers and innovation for nation's development. The finance minister reminded us that the aspiration of growth must go hand in hand with having adequate financial resources and hence, opening India to more investment from the world is more important than ever for India's growth story to continue. Key Points
Economic TimesBudget 2024 to boost Udman Hotels; gift biz to see 45% sales surge over Valentine's Day: Ferns N Petals' Vikaas Gutgutia
Valentine's Day Sale: Ferns N Petals expects an up to 50% increase in Valentine's Day sales, with gift hampers and personalised products showing 100% growth. This reflects a shift in consumer preferences towards unique and exclusive gifts. Key Points
mintBudget boom! Sensex, Nifty wake up to smell the coffee a day late
The market probably looked at global clues and fell yesterday. The Interim Budget was way beyond expectations of the market on fiscal consolidation. It still delivered inclusive growth and infrastructure investment. Net-net this is citizen's pride and peer's envy vote-on-account, said Dalal Street veteran Nilesh Shah of Kotak Mutual Fund. Key Points
Economic Times
Next generation reforms to avoid middle-income trap: Suman Bery
In an interview, NITI Aayog vice chairman Suman Bery discusses the impact of staying on the fiscal glide path on India's credit ratings and private investment. He praises the finance minister for staying the course on fiscal consolidation, which provides headroom for the Reserve Bank of India and impacts the credit ratings of corporates and banks. Bery notes that the timing is right for a huge capex cycle in the private sector and emphasizes the need for regulatory reforms, decentralization, and freeing up sectors like agriculture and energy. He also mentions the importance of transparency in land markets, digitization, and artificial intelligence. Additionally, Bery highlights the challenge of a growing population and the progress made in reducing multidimensional poverty, but suggests that more significant measures may be included in the full budget. Key Points
Economic TimesAgriculture in Interim Budget 2024—oil seed farmers get a boost but FPOs lose steam
Nirmala Sitharaman’s speech outlined the success of the Modi government & reiterated its focus on four ‘castes’: women, poor, farmers and youth. But there were no big announcements. Key Points
ThePrintView: Interim Budget high on rhetoric, low on actual commitment towards equitable society
The Budget claims to be pro-welfare. However, allocations made cannot be taken at face value. Allocations for major welfare schemes in the 2023-24 Budget have been significantly reduced in RE. PM Awas Yojana, National Health Mission, SC/ST welfare and Samagra Shiksha have taken the biggest hits. Key Points
The Economic TimesIndia to sustain exports growth despite global challenges, Budget provides strong foundation: Piyush Goyal
India sustains export growth despite global challenges arising from conflicts like the Israel-Hamas war. The Budget lays a strong foundation for economic growth. Geopolitical complexities and conflicts reshape globalization. Wars and crises disrupt global supply chains, impacting India's exports and logistics. The Budget focuses on every section of society, with announcements on e-mobility promotion and increased infrastructure spending, providing more opportunities for business and domestic industry. Finance Minister Sitharaman's priority is economic policies that foster growth and contribute to India becoming a developed country by 2047. Key Points
Economic TimesBudget 2024: Govt allocates Rs 5,700 crore for loans to foreign govts. Here are the top 10 overseas borrow
The Indian government has allocated ₹5,667.56 crore as grants and loans to foreign governments for the fiscal year 2024-25. Bhutan is the primary recipient of Indian government grants and loans. The loan provided in the fiscal year 2023-24 exceeded the Budget estimates for grants and loans in 2024-25. Finance Minister Nirmala Sitharaman highlighted the challenges posed by the Covid-19 pandemic, conflicts, and geopolitical shifts. She also emphasized India's achievements and its role in global problem-solving. Key Points
Economic Times
Budget sheds light on government's feats in last 10 years: Amit Shah
Budget News: Discover the milestones achieved by the Modi government in the last 10 years and their vision for a self-reliant India. Read more about the Budget highlights and the government's commitment to economic prosperity and technological revolution. Key Points
Times Of IndiaInterim Budget gives a peek into longer-term things to come: Bibek Debroy
Policy continuity is crucial for sustainable economic growth. The interim Budget reflects the Modi government's commitment to this principle, focusing on empowerment over entitlement, sustainable development, and fiscal management. The government has redefined inclusion as empowerment since 2014, and the Budget continues this approach by prioritizing the needs of the poor, women, youth, and farmers. Key Points
The Economic TimesReady for 2024: Modi sarkar signals poll comfort in Budget
The key highlight of that interim Budget was the Pradhan Mantri Kisan Samman Nidhi (PM-Kisan) initiative, with an outlay of Rs 75,000 crore. Though the scheme had been in the works, there was a sense of urgency after the state defeats in November-December 2018. PM-Kisan entails the direct transfer of Rs 6,000 to small and marginal farmers. Key Points
Economic TimesElection-eve confidence: Finance minister Nirmala Sitharaman shuns sweeteners, focuses on fiscal fitness
Budget News: Finance minister Nirmala Sitharaman's Budget sends a strong message of confidence in the outcome of the 2024 Lok Sabha elections. Explore the key achievements and future plans outlined in the budget. Key Points
Times Of IndiaA road map with clear focus, fiscal discipline: Amitabh Chaudhry, MD and CEO, Axis Bank
The 2019 interim Budget provided income tax rebate, social security coverage, and railway capex. The latest Budget focused on fiscal discipline and ease of doing business. It reduced the fiscal deficit for this year and set lower targets for the next. The private sector can benefit from increased borrowing and infrastructure creation. The Budget allocated funds for rural poverty alleviation, semiconductor manufacturing, solar power, and economic railway corridors. It also introduced schemes for housing, innovation, and economic growth. Key Points
Economic Times
Budget 2024: Hand on the gear, getting ready to thrust ahead
The interim Budget signifies a departure from sector-specific handouts, prioritizing fiscal consolidation with a lower-than-expected fiscal deficit. The focus remains on increased capital expenditure, innovation, and entrepreneurship support, green initiatives, tourism promotion, and ongoing reforms. The Budget reflects a holistic approach to empower all sections of society for sustainable growth, creating a robust foundation for India's development. Key Points
Economic TimesBudget 2024: A deeper cut to the fiscal deficit throws up positive surprise
In terms of priorities, the interim Budget has continued its focus on raising capital expenditure - the type of expenditure which creates assets (think railways, roads, housing) - at a faster pace compared to revenue expenditure (which is essentially spent on salaries, interest payments, pensions, etc). This strategy has been adopted since the pandemic as the government introduced supply-side reforms to support growth by building economic infrastructure. Since FY21, capex has grown close to 30% on average per annum, compared to 11% growth in revenue expenditure. Key Points
Economic TimesUnlocking the Interim Budget: TOI’s Right To Excellence Budget Masterclass
India Business News: Join the Times of India's Right To Excellence Budget Masterclass to decode the pivotal announcements made in the interim Budget by Finance Minister Nirmala Sitharaman. Gain valuable insights on tax changes, economic growth, and the impact on the automobile sector. Don't miss this opportunity to stay informed and navigate the implications of the Union Budget on your personal and professional finances. Key Points
Times Of IndiaBudget 2024 tech key highlights: 5 Major announcements by FM Sitharaman
Budget 2024 highlights key tech-related announcements, but does not include specific measures for artificial intelligence. Here are the major five announcements. Key Points
mintBudget focuses on making India $5 trillion economy, developed nation: Assocham
The interim Budget presented by Finance Minister Nirmala Sitharaman focuses on making India a USD 5 trillion economy and a developed nation by 2047. It includes a Rs 11.11 lakh crore spending on infrastructure and a Rs 1 lakh crore fund for research and development and the startup sector. Key Points
Economic Times
What Budget 2024 is telling the world, and you, about India
The absence of any freebies, on the other hand, points to the government’s confidence about the coming elections. In fact, the finance minister asserted in her Budget speech that she would deliver a roadmap for a developed India (Viksit Bharat) in the full Budget after the polls. Key Points
FirstpostViksit Bharat: Centre to provide Rs 75,000 crore interest-free loan to states
The Union government proposes a Rs 75,000 crore, 50-year interest-free loan to states for reforms supporting the vision of 'Viksit Bharat.' Finance Minister Nirmala Sitharaman announced this in the Budget speech, aiming for India to become a developed nation by 2047. The loan supports milestone-linked reforms in states, part of the government's approach to inclusive development, covering all castes and levels. The total resources transferred to states in 2024-25 stand at Rs 22,22,264 crore, a significant increase from the previous fiscal year. Key Points
Economic TimesWith Rs 86,000-cr for FY25, MNREGS Budget sees no change from 2023-24 revised estimate as polls loom
FY25 allocation is exactly the same outlay as given in revised estimates for the current financial year. Activists say it's not sufficient to meet demand for work in rural areas. Key Points
ThePrintBudget 2024: Can you spot the voter in the vote-on-account?
The interim Budget presented by Finance Minister Nirmala Sitharaman for the upcoming Lok Sabha elections is a statement of confidence by the Modi government. It avoids showering Budget capital as freebies on voters and focuses on flagship welfare schemes such as PM-KISAN. Sitharaman strategically targets voters with the 'Lakhpati Didi' scheme and extending health cover to ASHA and Anganwadi workers. The Budget also includes a 'Housing for Middle Class' scheme and promises to enable one crore households for rooftop solarization. Key Points
Economic Times'Walked the path of fiscal prudence’ — what economists say about interim Budget 2024’s fiscal maths
While boosting capex & rural spending, govt has set fiscal deficit target of 5.1% of GDP, which means Centre will have to borrow less to finance deficit, allowing pvt sector to borrow more. Key Points
ThePrint
'A roadmap to achieve developed Bharat by 2047': Amit Shah praises Interim Budget 2024-25
Finance minister Nirmala Sitharaman presented 2024-25 Interim Budget for 58 minutes on Thursday, her shortest-ever speech so far. With India going for the Lok Sabha elections in three months, the FM made no major announcements, including no changes in the income tax rates. Key Points
Firstpost'Growth, welfare and fiscal restraint': Experts laud budget, say fulfils aspirations of women, youth and farmers
Finance minister Nirmala Sitharaman presented 2024-25 Interim Budget for 58 minutes on Thursday, her shortest-ever speech so far. With India going for the Lok Sabha elections in three months, the FM made no major announcements, including no changes in the income tax rates. Key Points
FirstpostBudget 2024: No support from Sitharaman, real estate stocks take a beating
Housing & Urban Development Corporation Ltd, which builds houses for government projects, bucked the trend, rising 19.62%. NBCC also surged 9.78%. Key Points
Hindustan TimesBihar ministers describe Budget as 'development oriented'
Budget News: The Nitish Kumar-led NDA government in Bihar describes the interim Budget as 'development oriented' and aims to address the interests of all sections of society. The Budget has taken care of all sections of society and is aimed at improving the lives of people across the country. The allocation of Rs 75,000 crore for overall state development will benefit Bihar. The interim Budget will help expedite infrastructure projects and reflects PM Narendra Modi's vision of a self-reliant and strong India. Key Points
Times Of IndiaBudget 'will empower four pillars of Viksit Bharat - Yuva, Garib, Mahila and Kisan', says PM Modi
'This interim Budget is inclusive and innovative. It has confidence of continuity. It will empower all 4 pillars of Viksit Bharat- Yuva, Garib, Mahila and Kisan. This Budget gives the guarantee of making India a developed nation by 2047,' PM Modi said Key Points
Firstpost
Budget 2024: Defence stocks trade lacklustre as investors not enthused
Major defence stocks like Hindustan Aeronautics Ltd (HAL) and Bharat Electronics Ltd (BEL) fell over 1.74 percent and 1.80 percent during an intraday trade on Thursday at noon. Key Points
mintBudget 2024 impacts stock market investors in 5 ways if you look beyond Sensex
There were neither any shocks nor pleasant surprises in the interim Budget, with no myopic measures being announced. The government did not bow down to the populist measures in the election year and kept the tax regime unchanged but ensured fiscal prudence. The fiscal deficit is set at 5.1%, significantly lower than expected. Key Points
Economic Times'Viksit Bharat' aim, 'golden moments in next 5 years', says interim Budget
Finance Minister Nirmala Sitharaman said the government was working to ensure India becomes a developed country by 2047. She said the government will initiate next-generation reforms to boost growth, adding that golden moments will be witnessed in the next five years. Key Points
India TodayInterim Budget ‘guarantee of strengthening foundation of Viksit Bharat’: PM Modi
Prime Minister Narendra Modi praised the "historic" interim Budget 2024-25 and said it was a guarantee to strengthen the foundations of a Viksit Bharat (developed India) by 2047. He called the Budget a "confidence of continuity". Key Points
India Today