Budget 2024 Live Updates

Lok Sabha is expected to convene shortly for Finance Minister's Budget speech.

  1. Focus on MSME, Skilling and Youth with central outlay of 2 lakhs Crs
  2. India’s inflation continues to be low, stable, moving towards 4% target.
  3. The poor, women, youth, and farmer were focus of Interim Budget. PM Garib Kalyan Anna Yojana was extended by 5 years, benefiting more than 80 crore people.
  4. PMGKAY was extended for five years benefitting more than 80 crore people: FM
  5. Shrimp production and exports financing available - positive for aquaculture companies.
  6. Large-scale clusters for vegetable production to be developed closer to consumption centres. Digital crop survey for Kharif to be taken up in 400 districts in FY25.
  7. "Issuance of Jan Samarth-based Kisaan credit cards to be enabled in five states." positive for sbi cards and midcap banks.
  8. 1.52 lakh crore will be set aside for agriculture, allied sectors in FY25.
  9. Scheme for first timers to provide 1 month wage to all persons newly entering workforce in all sectors. First time employment scheme to benefit 210 lakh youths.
  10. Job creation of manufacturing, incentive at specified scale with respect to EPFO contribution. 30 lakh youth entering employment and their employers to benefit.
  11. ₹1.52 lakh crore allocated for the agriculture sector could benefit rural demand for automobiles - particularly entry-level two-wheelers and tractors.
  12. States in Eastern part of the country to be targeted under scheme ‘Purvodaya’. Bihar, Jharkhand, Orissa and Andhra Pradesh to benefit from ‘Purvodaya Scheme’.
  13. Power projects, including 2400 MW power plant at Pir Payanti to be taken up at Rs 21,400 crore.
  14. Plans Rs26000cr ON EXPRESSWASY, HIGHWAY IN EASTERN INDIA.
  15. New Airport and medical college - positive for infra stocks
  16. 2.66 lakhs Crores for rural infra - positive for roads and infra companies.
  17. Rs 15,000 crore to be arranged for Andhra Pradesh in FY25 for development of capital city at Amaravati.
  18.  Allocation of over Rs 3 lakh crore made for schemes benefiting women development.
  19. Credit guarantee scheme for MSMEs to operate on pooling of credit risks.
  20. PM Mudra loans' limit to be enhanced to Rs 20 lakh from current Rs 10 lakh under Tarun category.
  21. To enable MSMEs to sell products in international markets, e-commerce export hubs to be set up.
  22. Rural push keeping the consumer sector in momentum.
  23. Rental housing with dormitory-type accommodation for industrial workers to be facilitated in PPP mode with VGF support.
  24. Shipping industry reforms will be implemented – positive for shipping stocks
  25. Plans – critical mineral mission to include overseas M&A – Positive for mining stocks
  26. Rs 3.3 Lakh Crore Recovered Under IBC
  27. Positive for PSU Banks
  28. Government to launch scheme to develop 100 streetfood hubs in select cities over five years.
  29. 1cr Urban housing for poor needs to be with Rs10 lakh cr, Irrigation, water supply etc for urban - positive for housing finance.
  30. PM Surya Ghar Muft Bijli launched to install roof-top solar for 1 crore households.
  31. Joint venture between NTPC and BHEL to set up full-scale 800 MW commercial plant using AUSC technology.
  32. FY25 Capex Set At Rs 11.11 Lakh Crore
  33. The Central government will provide assistance to Himachal Pradesh, Uttarakhand and Sikkim for reconstruction, rehabilitation through multi-lateral development assistance.
  34. Launch rural road plan for more village, irrigation projects worth Rs11500cr - positive for infra
  35. Provision of Rs 1.5 lakh crore for long-term interest free loans made in FY25 for support to states for infrastructure.
  36. Housing needs of 1 crore urban poor and middle-class families to be addressed with investment of Rs 10 lakh crore.
  37. Rural land related actions to include assignment of unique land parcel identification number. Land records in urban areas to be digitised with GIS mapping.
  38. Fiscal deficit at 4.9% of GDP - inline with estimates
  39. FY25 Fiscal Deficit Seen At 4.9% Of GDP 
  40. FY25 total receipts other than borrowings at Rs 32.07 lakh crore. 
  41. FY25 total expenditure seen at Rs 48.21 lakh crore. 
  42. FY25 net tax receipts seen at Rs 25.83 lakh crore
  43. Customs duty on mobile phones, related parts, chargers cut to 15%.
  44. Cancer Drugs Exempted From Duties - positive for select pharma companies.
  45. More Than 2/3rds Of Individuals Availed New Tax Regime.
  46. Short Term capital gains hiked to 20 % - negative for short term investors
  47. Capital Gains Taxation To Be Simplified, Says FM Short-term capital gains on some financial assets to attract 20% 
  48. Long-term capital gains on financial, non-financial assets to be taxed at 12.5% 
  49. To raise limit of exemption of capital gains on some financial assets to Rs 1.25 lakh per year
  50. Listed financial assets held for more than a year to classify as long-term 
  51. Unlisted financial assets, non-financial assets must be held for 2 years to classify as long term 
  52. Unlisted bonds, debentures, debt MFs, market-linked debentures to be taxed at slab rate
  53. The Budget proposes to abolish angel tax for all classes of investors.
  54. The government to reduce corporate tax rate on foreign companies to 35% from 40%.
  55. Securities Transaction Tax on futures and options to be raised to 0.02% and 0.1% respectively.
  56. Liquidity to be impacted in derivatives markets.
  57. New Tax Regime Slabs Changed 
    Income of Rs 0-3 lakh to be taxed at 0%, 
    Rs 3-7 lakh at 5%, 
    Rs 7-10 lakh at 10% 
    Rs 10-12 lakh at 15% 
    Rs 12-15 lakh at 20%
     Above Rs 15 lakh at 30%