Sitharaman presents Union Budget 2024: All Updates

Sitharaman announces new tax regime

In new tax regime tax rate structure to be revised as follows:  Income from Rs 0 to Rs 3 lakh tax is Nil, from Rs 3lakh to Rs 7 lakh tax at 5 pc, from Rs 7 lakh to Rs 10 lakh at 10 pc, from Rs 10 lakh  to 12 lakh at 15 pc, Rs 12 lakh to Rs 15 lakh lakh at 20 pc and above Rs 15 lakh at 30 pc. A salaried person will now save upto Rs 17500 in IT annually as a result.

FM announces Income Tax rates

FM on Personal Income Tax Rates Under Next Tax Regime: Standard Deduction for salaried employees to be increased from Rs 50k to Rs 75k. Deduction on family pension to be enhanced from Rs 15k to Rs 25k providing relief to about 4 crore pensioners and individuals.

TDS rate on e-commerce operators to be reduced to 0.1 percent from 1 percent: FM

Capital gains to be simplified: FM

Capital gains to be simplified. Short term gains on certain financial assets to be taxed at 20 percent. Long term gains on all financial and non financial gains will attract 12.5 percent. Limit of exemption of capital gains on certain assets to be increased to 1.25 lakh per year.

Comprehensive review of Income Tax Act of 1961 in six months to simplify it, announces FM

Receipts for FY25 estimated at Rs 32.07 lakh crore and Expenditure for FY25 at Rs 48.21 lakh crore: FM

Customs duty on gold and silver to be reduced to 6 percent and of platinum to 6.4 percent FM

FM: Indian mobile industry has matured. Basic Customs Duty (BCD) on mobile phones and charges, etc to be reduced by 15 percent

Fully exempt three more medicines from customs duty for cancer treatment: FM

Taxonomy for climate finance to enhance the capability of capital for climate commitment and green transition needs: FM

Financial sector vision and strategy document in terms of science, capacity and skills to set agenda for next five years: FM

Assistance for Odisha's tourism announced

FM announces development of Vishnupad Temple corridor and Mahabodhi temple corridor in Bihar

FM says, "Comprehensive development of Vishnupad Temple corridor and Mahabodhi temple corridor in Bihar to be supported in the model of Kashi Vishwanath Temple corridor. Development of Rajgir and Nalanda as tourism centres."

Assistance to Sikkim for natural calamity, announces FM

Uttarakhand assistance to recover from landslides and cloudburst, announces FM

Himachal Pradesh: Assistance for reconstruction from flood damages, announces FM

Assam flood woes: Assistance to the state for flood management and related projects, announces FM

A critical mineral mission to be set up for domestic production, recycling of critical minerals and overseas acquisition of critical minerals: FM

Rental housing with dormitory type accommodation for industrial workers will be facilitated in PPP mode: FM

Mudra Loans to be enhanced to 20 lakh from current 10 lakh: FM

Budget focuses on MSMEs: FM

Sitharaman says, "Budget focuses on MSMEs: Credit guarantee scheme for MSMEs in manufacturing sector announced. Purchase of machinery and equipment without collateral or third party guarantee."

FM announces Special Financial Support for Andhra Pradesh

FM Sitharaman announced Special Financial Support for Andhra Pradesh ruled by its major ally Telugu Desam Party of Chandrababu Naidu. Budget will  facilitate 15,000 crore for Andhra with additional amounts in coming years.

Major announcement on road connectivity in Bihar ruled by NDA ally JD-U

Road connectivity: Patna Purnea Expressway; Buxar Bhagalpur Expressway; Bodh Gaya, Rajgir, Vaishali and Darbhanga spars and additional tooling bridge over River Ganga at Buxar at total cost of 26,000 crore announced.

Financial aid for higher education loans

FM Sitharaman announces a financial aid for loans upto Rs. 10 lakh for higher education in institutions of the country.

FM announces allocation of Rs. 1.52 lakh cr for agriculture and allies sectors

Industrial development of eastern region focused in budget

Sitharaman announces PM's package of 5 schemes and initiatives

Modern skill loan schemes will be revised to help 25,000 students ever year: FM

Course content aligned with skill needs: FM

A new skilling programme announced for 20 lakh youth over 5 years

India shining in terms of economic growth: FM

Sitharaman says, "India's economic growth continues to be the shining exception and will remain so in years ahead. India's inflation continues to be low and stable moving towards the 4 percent target..."

India's economic growth continues to be a shining exception

Sitharaman lists energy security as one of the nine priorities of the government. 

Focus on 4 different castes, poor, women, youth and farmers: FM

Sitharaman says, "As mentioned in the interim Budget, we need to focus on 4 different castes, the poor, women, youth and the farmer/ For farmers, we announced higher Minimum Support Prices for all major crops delivering on the promise for at least a 50% margin over cost. PM Garib Kalyan Anna Yojana was extended for 5 years benefitting more than 80 crore people."

Sitharaman presents Budget 2024

Sitharaman arrives in Parliament

Sitharaman with Budget Team