Budget 2024-25: FM Sitharaman begins her speech in Lok Sabha

New Delhi: Finance Minister Nirmala Sitharaman began her budget speech in the Lok Sabha on Tuesday, July 23.

This is Nirmala Sitharaman’s 7th consecutive budget presentation.

There are expectations that the budget will emphasize infrastructure, particularly the construction of roads and railways. The middle-class taxpayers are hoping for an increase in the tax exemption limit.

Watch the LIVE telecast here:

Speech Updates:

• Global economy is still in the grip of policy uncertainty, says Finance Minister.
• PM Garib Kalyan Ann Yojna was extended for 5 years benefiting 80 crore people
• Implementation of various schemes announced in Interim Budget in February are still underway
• Budget to focus on employment, skilling, MSME and middle class
• Budget for FY25 to provide Rs 1.48 lakh crore for education and employment and skill
• Budget’s 9 priorities include productivity, jobs, social justice, urban development, energy security, infrastructure, and reforms
• Govt will undertake comprehensive review of research to develop climate-resilient seeds
• In next 2 years one crore farmers will be initiated in natural farming
• Fast-tracking growth of rural economy and employment opportunity will be policy goal
• Government to strengthen production, storage and marketing of pulses
• Jan Samarth-based Kisan Credit Card to be introduced in five states
• Govt to launch three employment-linked schemes
• Govt to provide incentive to 30 lakh youth entering job market by providing 1 month PF contribution
• Govt to set up working women hostels to promote women participation in workforce
• Govt to provide financial support for loans up to Rs 10 lakh for higher education in domestic institutions
• Govt to provide e-vouchers directly to 1 lakh students every year with interest subvention of 3 per cent of loan amount
• Model skilling loan scheme will be revised to facilitate loans up to Rs 7.5 lakh
• New centrally-sponsored scheme for skilling in collaboration with states, industry; 20 lakh youth to be skilled over 5 years
• Govt to launch scheme to provide internship opportunities to 1 crore youth in 500 top companies over 5 years
• We will formulate plan Purvodaya for all round development of Bihar, Jharkhand, West Bengal, Odisha, and Andhra Pradesh: FM
• Govt proposes Rs 26,000 crore for various road projects in Bihar
• Our govt is fully committed for completion and financing of Polavaram irrigation project
• Backward region grant will be provided to 3 districts of Andhra Pradesh
• Govt to facilitate special financial support for development of capital city in Andhra Pradesh
• Govt to arrange Rs 15,000 cr this fiscal and in future years for development of capital city of Andhra Pradesh
• Budget provides Rs 2.66 lakh crore for rural development
• FM announces credit guarantee scheme for MSMEs to facilitate term loans without collateral or third party guarantee
• Loan limit under MUDRA loan scheme to be doubled to Rs 20 lakh
• SIDBI to open 24 new branches to serve MSMEs clusters
• Govt to promote investment-ready industrial parks in 100 cities
• Govt to launch auction of first offshore mining blocks
• FM proposes integrated technology platform for improving outcomes under Insolvency and Bankruptcy Code
• Govt proposes development of digital public infra application for productivity gains, biz opportunities and innovation by private sector
• IBC has resolved more than 1,000 cases resulting in realisation of Rs 3.3 lakh cr to creditors
• Appropriate changes will be made to IBC and steps will be taken to strengthen tribunals

 

 

(with PTI updates)