Budget 2024 Live Updates: Nirmala Sitharaman Unveils Strategies For Women's Entrepreneurial Empowerment

Finance Minister Nirmala Sitharaman is poised to deliver the Interim Budget for the fiscal year 2024-25 at the Parliament on Thursday, February 1, 2024. This comes a day after the initiation of the Budget Session. The interim budget is expected to furnish assessments of the government's spending, revenue, fiscal deficit, financial standing, and forecasts for the forthcoming months. The comprehensive budget is slated for presentation after the Lok Sabha elections by the recently elected government.

Tax Benefits To Be Extended

Tax benefits for startups and investments made by sovereign wealth and pension funds are set to be extended until March 2025.

New Technology Launch To Strengthen Deep Tech Capabilities

A fund of ₹1 lakh crore will be set up through a 50-year interest-free loan, aimed at providing long-term financing with extended tenures and minimal or no interest rates. Additionally, a new technology initiative will be introduced to enhance deep tech capabilities for defense purposes.

Rooftop Solarisation

Nirmala Sitharaman announces that rooftop solarisation will provide 1 crore households with 300 units of free electricity per month. Moreover, Finance Minister Nirmala Sitharaman has expressed the government's commitment to assisting "deserving" sections of the middle class in constructing their own houses.

Ayushman Bharat Scheme

The coverage of healthcare under the Ayushman Bharat scheme will now be extended to include all Anganwadi workers and helpers.

Nirmala Sitharaman On Withdrawal Of Outstanding Direct Tax

Nirmala Sitharaman announces the withdrawal of outstanding direct tax demands 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. This move is expected to benefit one crore taxpayers.

Nirmala Sitharaman On FDI

Finance Minister Nirmala Sitharaman said, "FDI now stands for 'First Develop India,' emphasising the encouragement of bilateral trade treaties to enhance the prospects of forthcoming FDIs."

Nirmala Sitharaman Says 'No Changes In Taxation'

Nirmala Sitharaman stated, "I suggest keeping the tax rates unchanged for both direct and indirect taxes, including import duties."

Empowering Amrit Peedhi, The Youth

• The National Education Policy 2020 is instigating transformative changes:
• The Skill India Mission has successfully trained 1.4 crore youth, upskilling and reskilling 54 lakh individuals, and establishing 3,000 new Industrial Training Institutes (ITIs).
• A substantial number of higher learning institutions, including 7 Indian Institutes of Technology (IITs), 16 Indian Institutes of Information Technology (IIITs), 7 Indian Institutes of Management (IIMs), 15 All India Institutes of Medical Sciences (AIIMSs), and 390 universities, have been established.
• Under the PM Mudra Yojana, 43 crore loans amounting to Rs. 22.5 lakh crore have been sanctioned, fostering the entrepreneurial aspirations of the youth.
• Initiatives like Fund of Funds, Startup India, and Startup Credit Guarantee Schemes are actively supporting the entrepreneurial endeavours of our youth.

Empowerment Of Women Through Entrepreneurship

• Over the past decade, there has been a significant surge in the focus on empowering women through entrepreneurship, improving the ease of living, and upholding their dignity.
• A noteworthy achievement includes the disbursal of 30 crore MUDRA Yojana loans specifically directed towards women entrepreneurs.
• The enrollment of women in higher education has witnessed a substantial 28% increase over the last 10 years.
• Notably, in STEM courses, females constitute 43% of the enrollment, marking one of the highest figures globally.
• These advancements are mirrored in the rising participation of women in the workforce.
• Legislative actions, such as criminalising Triple Talaq, implementing one-third reservation for women in Lok Sabha and state assemblies, and allocating over 70% of houses under PM Awas Yojana in rural areas to women as sole or joint owners, have significantly elevated their dignity.

Prices Of Silver And Gold Remain Unchanged

On Thursday, gold prices showed no change in anticipation of Finance Minister Nirmala Sitharaman's presentation of the interim budget. As reported by Goodreturns, the cost of 22-carat gold remained at ₹5,800 per gram, while the price for 24-carat gold stood at ₹6,327 per gram. Similarly, the price of silver remained constant, with Goodreturns reporting a selling price of ₹76.50 for one gram ahead of the budget 2024 announcements.

When Is The Budget Announcement Scheduled?

The Finance Minister is set to present the budget on February 1 at 11 am, establishing the framework for the interim financial plan until the new government assumes office. This marks the sixth budgetary presentation by the finance minister, encompassing five annual budgets and one interim budget.

Where Can We Watch Nirmala Sitharaman's Budget Live Updates?

Finance Minister Nirmala Sitharaman's Budget speech will be broadcast live on the official Parliament Sansad TV and Doordarshan channels.

Don't Miss: Budget 2024: What Is 'Bahi Khata'? An Evolution From Budget Briefcase To Going Paperless

Where Can The Budget 2024 Document Be Accessed?

The interim Budget 2024 is available in a ‘paperless form’ through the Union Budget Mobile App. This bilingual app, accessible in English and Hindi, can be downloaded on Android, iOS, or from the Union Budget Web Portal (www.indiabudget.gov.in). The Government of India app will furnish all essential Budget documents, such as the Annual Financial Statement, Demand for Grants, and the Finance Bill as mandated by the Constitution. These documents will be promptly accessible on the Mobile App after the conclusion of the Budget Speech.

Credits: Twitter