Budget 2024 LIVE Updates: 'This Budget Gives Guarantee Of Making India A Developed Nation By 2047,' Says PM Modi

Reacting to the Interim Budget 2024, Shiromani Akali Dal MP Harsimrat Kaur Badal said, "This budget was hollow. There was nothing for the youth, women, farmers...I saw arrogance when they said that they would present the Budget in July. You cannot take any election for granted.",

Budget 2024 Live Updates: Soon after Finance Minister Niramala Sitharaman presented the Interim Budget 2024, PM Modi said, "Income-tax remission scheme will provide relief to 1 crore people from the middle class. In this budget, important decisions have been taken for the farmers.",

#WATCH | PM Modi on interim Budget says, "Income-tax remission scheme will provide relief to 1 crore people from the middle class. In this budget, important decisions have been taken for the farmers."#Budget2024 pic.twitter.com/Lg2fRnMJS5, — ANI (@ANI) February 1, 2024

After Finance Minister Niramal Sitharaman presented the Interim Budget 2024, Prime Minister Narendra Modi praised the Budget and said, "This budget has a reflection of the young aspirations of a young India. Two important decisions were made within the Budget. For research and innovation, a fund of Rs 1 Lakh Crore has been announced."

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#WATCH | On Union Interim Budget 2024-25, PM Narendra Modi says, "This budget has a reflection of the young aspirations of a young India. Two important decisions were made within the Budget. For research and innovation, a fund of Rs 1 Lakh Crore has been announced..." pic.twitter.com/SYb1IdntjF, — ANI (@ANI) February 1, 2024

Soon after the interim Budget 2024 was presented by Finance Nirmala Sitharaman, Congress MP Manish Tewari reacted to it. "It is a 'vote-on-account' which has only one purpose to keep the government solvent for the first quarter of the current fiscal year. What's worrying is that there is a budget deficit of Rs 18 lakh crores. This means that the government is borrowing for its expenditure. This number is only going to increase next year," Tewari told ANI.

Lok Sabha Passes Finance Bill 2024. Finance Minister Nirmala Sitharaman introduced the Finance Bill 2024 in Lok Sabha after concluding the interim Budget speech. 

- We are close to achieving the target of 3 crore under rural housing scheme; 2 crore more to be constructed in next 5 years, says Sitharaman

- Rooftop solarisation to ensure 1 crore household free electricity of up to 300 units per month, household to save Rs 15,000-18,000 annually

- FM Sitharaman announces plans to increase milk and dairy production

- Capital spending for 2024-25 raised by 11 per cent to Rs 11.11 lakh crore or 3.4 per cent of GDP

- 40,000 normal railway bogies will be converted to Vande Bharat standard

- Indian air carriers pro-actively placed orders for 1,000 new aircraft

- Manufacturing & bio foundry scheme to be launched to provide environment-friendly alternatives for bio-degradable production

- The next 5 years will be years of unprecedented development and golden moments to realise the dream of developing India by 2047

- Nirmala Sitharaman outlines strategy for 'Amrit Kaal' in her Budget speech

- Govt will take up next-generation reforms to facilitate growth, says Sitharaman

- Govt will facilitate sustaining high and more resource-efficient economic growth to ensure energy security for the country, FM says.

"Through roof-top solarisation, 1 crore households will be enabled to obtain up to 300 units of free electricity every month. This scheme follows the resolve of the Prime Minister on the historic day of the consecration of Shri Ram Mandir in Ayodhya," says Nirmala Sitharaman.

Under PM Mudra Yojana, 43 crore loans aggregating to Rs 22.5 lakh crore were extended, says Sitharaman. The minister also states that the PM Modi Govt is focused on more comprehensive GDP, governance, development and performance. 

"...The Indian economy has witnessed a profound positive transformation in the last 10 years, The people of India are looking ahead to the future with hope and optimism. With the blessings of the people, when our government - under the leadership of PM Narendra Modi - assumed office in 2014, the country was facing enormous challenges with Sabka Saath, Sabka Vikas as its mantra. The Government overcame those challenges in right earnest..." she says in her speech.

Finance Minister Nirmala Sitharaman presents the country's interim Budget in Parliament. 

"...Our young country has high aspirations, pride in its present and 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," she says. 

Union Cabinet approves the Interim Budget. Nirmala Sitharaman will present the Budget in the House, shortly.

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. (Picture credit: @rashtrapatibhvn)

Nirmala Sitharaman chooses cream and blue saree for interim Budget 2024. Union Finance Minister is all set to present her sixth straight Budget at 11 AM today.

Ahead of the presentation of the Union Interim Budget, the President of IMC Chamber Of Commerce And Industry Samir Somaiya says this is an Interim Budget, so there will be some limitations.

"But I think they will underscore their priorities. I also think that when you look at the demographic dividend that the country has - we have such a large young population, you need to also skill them if you need them to be ready for the kind of infrastructure, defence, space, agriculture, precision farming and the whole startup infrastructure that they also need to create. So, I think they will continue to build this ecosystem to build a virtuous cycle so that India continues to grow at 6.5% and more," he says.

Interim Budget copies arrive in Parliament. Union Finance Minister Nirmala Sitharaman is all set to present her sixth straight budget today.

As Finance Minister Nirmala Sitharaman is all set to present the Interim Budget today, KV Subramanian, an Executive Director of the IMF and former Chief Economic Advisor to the Government of India, says, India is in a good position.

"...India is in a good position(economically) but we have to continue the work...We have to further strengthen the reforms that have been done in manufacturing...The investments and subsidies in the power sector have to be focussed on...Voters need to be wary of the 'freebies culture' that has set in a few states. It doesn't do much for the economy..." he says.

Finance Minister Nirmala Sitharaman arrives at the Ministry of Finance as she is set to present the interim Budget today.

The last full Budget of PM Modi government had proposed to increase capital expenditure outlay by 33 per cent to Rs 10 lakh crore in 2023-24, which would be 3.3 per cent of the GDP. It was almost three times the outlay in 2019-20.

Ahead of the Union Budget 2024 presentation, MoS Finance Dr Bhagwat Kishanrao Karad arrives at the Ministry of Finance in North Block. Tuhin Kanta Pandey, Secretary of the Department of Investment and Public Asset Management (DIPAM) also arrived.

Budget 2024 Expectations Live Updates: The government is expected to increase capital spending or expenditure on infrastructure, which has been key to pushing the country's growth.

Union Finance Minister Nirmala Sitharaman is all set to present the Interim Budget today, marking the final budget in the second term of Prime Minister Narendra Modi.