Budget 2024 Highlights: FM disappoints investors, rewards (some) taxpayers

Budget 2024 LIVE Updates: Supriya Paul, CEO & Co- Founder, Josh Talks, said, “The Union Budget 2024-25 represents a significant stride towards Bharat's development. The abolition of the Angel Tax for all investors is a substantial advancement, ensuring that startups remain within India and flourish domestically. The allocation of ₹1.48 lakh crore towards education, employment, and skills development is a substantial investment. By enhancing the quality of education and training, we are equipping our youth with the necessary skills to thrive.”

Ravi Goel, Chief Business Officer, RapidShyp, said, “The budget announcement by the Hon’ble Finance Minister Smt Nirmala Sitharaman is extremely progressive. The government has continued focusing on steps to help the economy by prioritizing infrastructure development and fiscal discipline. The allocation of ₹11.1 lakh crore, representing 3.4% of GDP, is a significant leap towards transforming India's infrastructure landscape. We are hopeful that this budget will greatly enhance infrastructure investments, especially in multi-modal transport and state-of-the-art warehousing.”

Budget 2024 LIVE Updates: Nilesh Shah, Managing Director, Kotak Mahindra AMC, said, “This budget has achieved the trinity of impossible. Fiscal Prudence, Investment and Growth momentum. Fiscal Prudence of 4.9 % for FY 24 will pave the way for Rating upgrade. Support to employment generation will boost growth. Infrastructure investment at 3.4 % of GDP is elevated yet not crowding out others.”

Budget 2024 LIVE Updates: Amit Kishore Prasad, Founder & MD, SatNav Group, said, “Women in workforce will get a major boost with the FM's assurance that Creches will be set up to help them, this is already a part of the Maternity Act 2017, just needs to be implemented with a sense of much greater urgency in Government Departments, PSUs and Private Companies.”

Budget 2024 LIVE Updates: Saurav Kasera, Co-Founder and CEO, Clirnet and DocTube, said, “The Union Budget 2024-25 presents several promising initiatives for the digital sector. The abolition of the angel tax is a significant step that will foster innovation and support start-ups. The emphasis on research and development, particularly through the Anusandhan National Research Fund, will drive technological advancements. The government's commitment to developing Digital Public Infrastructure (DPI) will enhance service delivery and support the integration of healthcare.”

Manish Aggarwal, Director, Bikano, Bikanervala Foods Pvt Ltd, said, “I am heartened by the Union Budget 2024's comprehensive approach towards agriculture and rural development. The allocation of INR 1.52 lakh crore for agriculture and allied sectors, alongside the release of 109 high-yielding and climate-resilient crop varieties, marks a significant advancement. This initiative will undoubtedly enhance supply chain efficiencies and reduce agricultural wastage, which are critical for our sector. The plan to initiate 1 crore farmers into natural farming with support for certification and branding is another commendable step.”

Budget 2024 LIVE Updates: George Alexander Muthoot, MD, Muthoot Finance, said, “The Union Budget 2024 focuses on the comprehensive development of the economy by adhering to fiscal prudence, boosting infrastructure growth, and through continued emphasis on four major pillars of society - the poor, women, youth and the farmers. The massive impetus on capex expenditure outlay of ₹11.11 lakh crore is a testimony to the government's focus on boosting investment activity and further strengthening fiscal health of the economy.”

Budget 2024 LIVE Updates: Prabhat Srivastava, Co-Founder and Director, VitusCare Medlife pvt ltd, said, “The abolition of the angel tax will simplify fundraising, attract diverse investors, and enable startups to access more funds leading to better growth. The better accessibility of funds will allow more investment in growth, R&D, and market expansion. This change is vital for creating a supportive ecosystem, driving innovation, and boosting economic growth. It demonstrates a strong commitment to fostering entrepreneurship and supporting the startup community.”

Budget 2024 LIVE Updates: Supriya Paul, CEO & Co- Founder, Josh Talks, said, “The Union Budget 2024-25 represents a significant stride towards Bharat's development. The abolition of the Angel Tax for all investors is a substantial advancement, ensuring that startups remain within India and flourish domestically. The allocation of ₹1.48 lakh crore towards education, employment, and skills development is a substantial investment.”

Budget 2024 LIVE Updates: Ranen Banerjee - Partner and Leader Economic Advisory, PwC India, said, “Fiscal prudence is the highlight of the full Union Budget 2024-25. The government has gone with realistic projections on its revenue and expenditure estimates and refrained from announcing overly populist measures. The majority of the allocations, including the capex allocation, are as outlined in the interim budget, thus providing continuity.”

Budget 2024 LIVE Updates: Amar Ambani, Executive Director, YES SECURITIES, said, “Barring the capital gains tax dampener for the investor community and removal of indexation benefit, the Union Budget was balanced and consistent in policy. Brushing aside concerns around more populism, the target set for the fiscal deficit at 4.9% is a huge positive. Agriculture package of Rs1.5 lakh crores is along expected lines and will help provide a fillip to the rural economy."

Budget 2024 LIVE Updates: Akshay Sarma, Chief Financial Officer, Axio, said,

“The budget announcements mark a continuous effort to help India achieve its economic dream of reaching a USD 5 trillion economy by 2024-25. Addressing key challenges in the startup ecosystem, the abolition of the Angel Tax for all investors will boost startups and attract diverse investments. Simplifying FDI and promoting the Indian Rupee for international investments enhance India's global economic standing."

Budget 2024 LIVE Updates: Rumki Majumdar, Economist, Deloitte India, said, “Measures to improve ease of doing business have been addressed, with proposed reforms to improve law and justice and corporate governance. To make IBC more effective, announcements were made to integrate technology system for IBC for better outcomes and establish additional tribunals.”

Budget 2024 LIVE Updates: Achala Jethmalani, Economist, RBL Bank. said, “From a macroeconomic standpoint, the increased revenue receipts led fiscal consolidation augments well for the economy at large. The social sector spending and the focus on extending loans under several schemes implies increased financial intermediation. The land related reforms proposed in the budget if gets implemented would help facilitating credit flow and other agricultural services to the end-user.”

Budget 2024 LIVE Updates: Pranav Haridasan, MD & CEO, Axis Securities, said, “The Union Budget 2024-25 has presented short-term challenges for the markets. The rise in capital gains tax rates and the increased STT are a short term negative. The capital expenditure allocation, unchanged at ₹11.1 lakh crore, fell short of the expected ₹11.5-12 lakh crore. However, the budget does have its positives.”

Budget 2024 LIVE Updates: Manish Jain, Managing Director, Bajaj Broking, said, “The Union Budget 2024 balances well between fiscal responsibility and growth. Fiscal deficit at 4.9% is in line with market expectations, and points the government is on the path of fiscal discipline. For the capital markets, the increase in capital gains tax does hurt investors. Short-term gains on financial assets will now be taxed at 20%, compared with 15% earlier while long-term gains on all assets face a 12.5% tax, from 10% earlier. This change, coupled with an increased exemption limit of ₹1.25 lakh per year for capital gains on financial assets, could reshape investor behaviour.”

Budget 2024 LIVE Updates: A.P. Hinduja, Chairman, Hinduja Group of Companies (India), said, “The budget shows Modi 3.0 is all about continuing the path to Fiscal Consolidation with the Fiscal Deficit target of 4.9% this year and 4.5% the next while maintaining the Capex figure at 3.6%. The focus on the agri sector and housing infrastructure - affordable and urban - is substantive and augurs well. Quite a few changes in taxation have been announced which needs a detailed study. Higher FDI is expected with a reduction in tax on Foreign Companies from 40 to 35%. Overall, a good budget for the macro Indian Investment Climate but could have been better for Indian Investors.”

Budget 2024 LIVE Updates: Ruhie Pande, Group CHRO & Head of Marketing & Communications, Sterlite Power, said, “The 2024 budget's focus on social justice, energy, and employment is pivotal for India's vision of 'Viksit Bharat' by 2047. By ensuring equitable access to resources, promoting sustainable energy solutions through initiatives like the PM Surya Ghar Muft Bijli Yojana, and generating ample employment opportunities with comprehensive internship schemes and incentives, the budget paves the way for inclusive growth and economic stability.”

Budget 2024 LIVE Updates: Venkat Chalasani, Chief Executive, AMFI, said, “The Finance Minister presented a growth-oriented budget today. The focus on fiscal consolidation without cutting down on capital expenditure with clear roadmap for “Viksit Bharat” is extremely positive. The emphasis on job creation, skilling, a boost to the MSME sector as well as tax relief to the middle classes will add more income in the hands of the people.”

Budget 2024 LIVE Updates: Rajesh Magow, Co-Founder & Group CEO, MakeMyTrip, for your editorial consideration, “The government's continued emphasis on infrastructure development is commendable. Enhanced road infrastructure will bolster the travel and tourism sector. We also welcome the initiatives to develop iconic spiritual and cultural sites into world class tourist hotspots."

Budget 2024 LIVE Updates: Angshu Mallick- MD & CEO of Adani Wilmar said, “I see great potential in the ₹1.52 lakh crore allocation in the 2024 Union Budget for revolutionizing India's agriculture sector. This strategic investment will significantly enhance productivity, resilience, and sustainability. Key initiatives like innovative crop research, high-yielding varieties, and natural farming practices will directly benefit 1 crore farmers, supported by the establishment of bio-input centres.”

Budget 2024 LIVE Updates: Nitin Gupta, Co-Founder & CEO of Attero, said, “The announcement of the Critical Mineral Mission by the Finance Minister is expected to provide a significant impetus to the industry. This mission's comprehensive mandate, including domestic production, recycling, and overseas acquisition of critical mineral assets, will help make India self-sufficient in critical minerals. In addition, the exemption of customs duties on 25 critical minerals provides a major fillip to the processing and refining sectors. These measures will significantly boost the processing and recycling industries, enabling India to become the recycling and critical minerals hub in the world."

Budget 2024 LIVE Updates: Parimal Heda, Chief Investment Officer, Go Digit General Insurance, said, “The Union Budget 2024 has maintained its commitment to fiscal prudence yet announced various tax-friendly measures for the Indian taxpayers. From the perspective of the Insurance Sector, amendment made by the government to clarify various activities in insurance sector as neither a supply of goods nor a supply of services is an extremely positive measure for the sector. This will immensely reduce compliance and ongoing litigation burden and provide overall stability to the sector.”

Budget 2024 LIVE Updates: Shanti Ekambaram, Deputy Managing Director, Kotak Mahindra Bank said, “The finance minister prioritized nine key areas, aiming to benefit the poor, women, youth, and farmers. These areas include agriculture, employment, skilling, and manufacturing. The infrastructure outlay remained at 11 lakh crores, with a focus on housing. The fiscal deficit target of 4.9% is commendable, and the emphasis on the fiscal consolidation path is positive. However, the surprise twist was the Capital Gains tax: short-term capital gains at 20% and long-term gains at 12.5%. While this may impact sentiment in the short term, the overall focus on employment, development, and infrastructure promises long-term benefits. In summary, it’s a sensible budget that addresses key segments, sectors, and states while maintaining fiscal discipline.”

Budget 2024 LIVE Updates: Praveen Raju, Partner, Spice Route Legal, “A most needed change the industry has been incessantly seeking since its inception. Intended to probably curb some illegitimate transactions, but affected all forms of equity funding. Not just that, it was in conflict with the spirit of valuation norms for foreign equity funding. While this may not necessarily have a direct impact on increase in funding, but would surely eliminate the unnecessary need to align valuation reports and price negotiation.”

Budget 2024 LIVE Updates: Abhishek KG, Co-founder, Clapingo, said, “We are pleased to see a strong emphasis on job creation and upskilling in the Union Budget 2024. The significant allocation of INR 1.48 lakh crore towards education, skilling, and employment aligns perfectly with our mission to empower young professionals and students with English speaking skills across the country. More and more investors will be encouraged to invest in young startups, and entrepreneurs will have a confidence boost to start their own ventures, with the proposal to abolish angel tax.”

Budget 2024 LIVE Updates: Sharad Mathur, Managing Director & Chief Executive Officer, Universal Sompo General Insurance Company, said, “The 2024 Union Budget reflects a strong commitment to driving economic growth and fostering financial security across the nation. The increased standard deduction and the proposed reduction in tax rates under the new tax regime will provide significant relief to individuals, particularly middle-income earners.”

Budget 2024 LIVE Updates: Manish Sheth, MD & CEO, JM Financial Home Loans said, “The budget announcements aim to further enhance housing access to all. The Rs. 2.2 lakh crore allocation for urban housing initiatives under PMAY-U over the next five years underlines the strong focus of the government on affordable housing for the poor and middle class. The fiscal support will boost demand for housing finance. Another commendable proposal is to encourage states to lower stamp duties for the women homebuyers and reduce duties for properties purchased by women.”

Budget 2024 LIVE Updates Nitya Sharma, Founder and CEO, Simpl said, The Union Budget 2024 has effectively recognised the importance of a robust e-commerce ecosystem and offering credit at scale in empowering millions of small and medium sellers across the country. The proposed development of e-commerce export and industrial hubs will enable our sellers to cater to a global market while support to MSMEs and promoting entrepreneurship through policy interventions will further propel opportunities for sellers including Direct-to-Consumer brands."

Budget 2024 LIVE Updates: Kartik Chhaya, Chief Operating Officer, Rupeeseed, said, “We welcome the Union Budget 2024's forward-thinking approach, particularly the reduction in corporate tax rates for foreign companies and the simplification of FDI rules. These measures will enhance India's attractiveness as a global tech hub. The focus on employment-linked skilling and the support for MSMEs, including the credit guarantee scheme, align well with our mission at Rupeeseed to drive innovation and growth in the fintech sector.”

Budget 2024 LIVE Updates: Abhishek Gupta, Founder and Managing Partner at Pierag Consulting LLP, said, “Our experience shows that access to finance is a critical barrier for many MSMEs looking to scale their operations and modernize their production processes. This initiative not only alleviates financial constraints but also encourages technological advancements and productivity improvements within the sector.”

Budget 2024 LIVE Updates: Vimal Kumar Alawadi, Managing Director, Best Agrolife Ltd, said, "Since climate change has been impacting agricultural output, it requires a sustained emphasis to shift Indian farming from its reliance on rains to an irrigation-led ecosystem. Accordingly, the FM mentioned that the Budget’s key priorities include productivity and resilience in agriculture.

Budget 2024 LIVE Updates: Karthik Somasundaram, Partner, Spice Route Legal, "Creating more benches of the NCLTs, training of the Court and Registry staff in becoming efficient and using technology and moving to digital filing will go a long way in expediting disposal of IBC cases, which will result naturally in resolving stressed assets. Supreme Court and most High Courts have adopted technology and gone digital in respect of case papers and filings, the effects are visible. Time that the NCLTs and the NCLATs went savvy and efficient."

Budget 2024 LIVE Updates: Domnic Romell, President, CREDAI-MCHI, said, “The Union Budget 2024-25 presents a robust framework for the growth and development of the real estate sector. The emphasis on affordable housing, urban infrastructure, industrial development, and digitalization are particularly beneficial for a dynamic and densely populated city like Mumbai. CREDAI-MCHI is optimistic about the opportunities these initiatives will bring to the real estate sector and to the economy.”

Budget 2024 LIVE Updates: Praveen Raju, Partner, Spice Route Legal, “The finance minister has announced the setting up of an additional 100 food quality and safety testing labs with the National Accreditation Board for Testing and Calibration Laboratories. This is a welcome announcement by the government against the backdrop of the recent backlash on the FSSAI for the lack of strong enforcement of food safety standards of Indian food products, particularly with the ban of MDH and Everest spices in foreign countries."

Budget 2024 LIVE Updates: Kartik Narayan, CEO- Staffing, TeamLease Services Limited, “ The introduction of the new employment-linked incentive scheme in the budget marks a significant advancement in reducing informal employment in the country. By providing financial support and incentives to both employers and employees, the scheme aims to promote formal hiring practices and ensure essential benefits. Initiatives such as support for first-time employees, recognition of EPFO enrollments, and assistance for the MSME sector are specifically designed to transition more workers into formal employment.”

Budget 2024 LIVE Updates: Jaspreet Bindra, Founder, Tech Whisperer, said, “The emphasis on technology and innovation in the 2024-25 Union Budget is a major boost for the AI and tech sectors and aligns india to achieve the Viksit Bharat goal of 2047. The removal of the Angel Tax for investors is a significant step that will strengthen the startup ecosystem, encouraging more investments and fostering innovation. This change will significantly improve startup funding sentiment while boosting the morale of deep tech and AI startups to take bigger bets."

Budget 2024 LIVE Updates: Sanjeev Krishan, Chairperson, PwC in India, said, “The budget highlights India's next leap forward – empowering the very nucleus of the nation – Indian citizens. Right from driving the participation of women in the workforce to enhancing the employability of the youth across the nation, the focus on building a future-ready workforce is evident. With the right incentives and fiscal support, the Government has paved a clear path towards a Viksit Bharat – bringing together the power of the private and public sector, and reinforcing this with our distinctive demographic advantage.”

Budget 2024 LIVE Updates: Subburathinam P, Chief Strategy Officer, TeamLease Services Limited,

"By introducing a scheme that incentivises job creation in the manufacturing sector through the employment of first-time employees, the sector is poised to significantly boost job opportunities. This initiative, which provides incentives to both employees and employers based on their EPFO contributions for the first four years of employment, will encourage formal hiring and foster a more stable and productive workforce. As more manufacturing plants are being set up around Tier 2 and 3 cities, the youth in these regions are more likely to benefit from such initiatives. This approach will not only enhance job security but also drive growth and innovation within the manufacturing sector, ultimately contributing to a stronger economy."

Budget 2024 LIVE Updates: Jaskiran Arora, Dean- Education Quality, BML Munjal University, said, “The budget marks a pivotal moment for India's education sector, reflecting a robust commitment to enhancing opportunities for the youth. The allocation of Rs. 1.48 lakh crore for education, employment, and skilling underscores a strategic shift towards holistic development. The introduction of financial support for loans up to ₹10 lakhs for higher education, particularly for those excluded from existing government schemes, is a game-changer. The e-vouchers offering a 3% annual interest subvention for one lakh students will make higher education more accessible and affordable, potentially transforming countless futures."

Budget 2024 LIVE Updates: Kapil Makhija, MD & CEO of Unicommerce, said, "The government’s focus on building a digitally enabled India is evident in the measures announced during Budget 2024. Encouraging the country’s e-commerce sector by reducing TDS to 0.1% for e-commerce operators, supporting MSMEs by setting up e-commerce export hubs, leveraging the digital footprint of online enterprises to evaluate credit eligibility, elimination of equalization levy for supply for goods and services via e-commerce are notable changes that will support growth of India’s e-commerce sector."

Budget 2024 LIVE Updates: Saurabh Gadgil, Chairman and Managing Director, PNG Jewellers, said, “We are delighted to learn about the significant reduction in import duties for Gold, Silver to 6%, and Platinum to 6.4%. This decision, which aligns with the industry's long-standing request, is expected to have a positive impact on the organization and growth of the industry. By lowering import duties, we anticipate an increase in gold consumption and a moderation in gold prices, which have recently reached record highs."

Mitesh Khimji, Director, Khimji Jewellers, said, “We express our sincere appreciation for the favourable decision made by the esteemed Prime Minister and the Finance Minister to reduce the import duty on Gold, Silver to 6% and Platinum to 6.4%. This advantageous move offers substantial relief to the gems and jewellery sector. It will further augment the industry's global competitiveness and effectively eradicate the parallel grey market”.

Budget 2024 LIVE Updates: Puneet Chandok, President, Microsoft India & South Asia said, “The Union Budget and Economic Survey’s emphasis on technological innovation and digitization sets India on the fast track to becoming an ‘AI-first nation,’ opening new opportunities for collective and inclusive progress from commerce to communities. Leveraging a digitized economy and an AI-ready workforce aligns well with the budget’s priorities towards employment & skilling, innovation, research & development, and productivity & resilience in agriculture. With a diffusion rate surpassing that of any previous technology, India leads the world in AI skill penetration and talent concentration rates."

Budget 2024 LIVE Updates: Suchindra Kumar, Partner - Education, PwC India, said, “The focus of the budget for higher education is on building world class institutions – with the outlay increased from INR 1,300 crores to INR 1,800 crores in this year’s budget. The increase in teacher training mission budget coupled with a 25% increase in research funds and the increase in the budget for digital learning initiatives would improve the quality of education in the higher education system.”

Budget 2024 LIVE Updates: Akshay Munjal, Founder & CEO, Hero Vired, said, “Amid growing concerns about the impact of AI on job creation, the substantial allocation of Rs. 1.48 lakh crore for these sectors demonstrates a significant commitment to developing India's human capital. The introduction of various schemes to promote skilling and job creation is poised to significantly boost economic growth. Additionally, the comprehensive scheme providing internship opportunities in 500 top companies to 1 crore youth over five years, funded partly through CSR, is a welcome initiative."

Budget 2024 LIVE Updates: Subburathinam P, Chief Strategy Officer, TeamLease Services Limited, said, “By introducing a scheme that incentivises job creation in the manufacturing sector through the employment of first-time employees, the sector is poised to significantly boost job opportunities. This initiative, which provides incentives to both employees and employers based on their EPFO contributions for the first four years of employment, will encourage formal hiring and foster a more stable and productive workforce.”

Budget 2024 LIVE Updates: Varun Sheth, Co-Founder, Ketto, said, "The focus on critical areas such as agriculture, employment, loans, and MSME support is commendable. Extending the PMGKAY and allocating substantial funds for women's and girls' schemes demonstrate a strong commitment to social progress. The reduction in custom duties on essential cancer drugs and the new employment-linked incentives are noteworthy initiatives. These steps pave the way for a progressive and inclusive future. We are optimistic about the positive changes these measures will bring."

Budget 2024 LIVE Updates: Subash Vasudevan, CBO and Co-founder, iBUS Networks, “Increased infrastructure investment is a welcome sign. Allocating ₹11,11,111 crore for capex, which is 3.4% of GDP, is a strong start. Every rupee invested in infrastructure can provide opportunities to further digitize it. This creates a ripple effect, attracting more investments and paving the way for a smart economy. It has the potential to generate three times the benefit and will also provide opportunities and benefits to startup ecosystems."

Tarun Chugh, MD & CEO, Bajaj Allianz Life, said, “The FM has secured a few critical aspects for the future readiness of the country in terms of strengthening the start-ups eco-system, focus on new age technology, space tech and encouraging clean tech. There was a significant focus on sectors like agriculture, infrastructure at large as well as developing skills and generating employment, which will have a positive compounding effect on the economy going forward. It lays the groundwork for a robust and sustainable economic growth with India remaining one of the bright spots in the global economic landscape."

Budget 2024 LIVE Updates: Rajan Pental, Executive Director, YES BANK, said, “The launch of the Credit Guarantee Scheme, which provides term loans up to ₹100 crore without requiring collateral, will notably reduce risk for banks and expand their lending opportunities, facilitating greater investment in essential machinery and equipment. The new credit assessment model, which leverages digital footprints, represents a transformative shift in evaluating MSME creditworthiness. This innovation will streamline the credit process and extend support to MSMEs that lack formal accounting systems, making credit access more inclusive and efficient. Additionally, the enhancement of Mudra loan limits to ₹20 lakh and the provision for continued credit support during periods of stress are designed to stabilize borrowers and reduce the likelihood of non-performing assets. These measures will help maintain operational continuity and foster growth.”

Budget 2024 LIVE Updates: Neeraj Akhoury, President Cement Manufacturers Association (CMA), said, “Against the backdrop of global uncertainties and inflation, the Union Budget 2024-25 is transformative and forward looking with an eye on fiscal consolidation. The announcement of INR 11 lakh crore capital expenditure signifies the Government's commitment to modernising India’s infrastructure through various significant projects and allocations, which will undoubtedly drive demand for Cement and other building materials. These initiatives collectively illustrate the Budget's comprehensive and strategic approach to bolstering India's infrastructure across various sectors."

Budget 2024 LIVE Updates: Arun Alagappan, Executive Chairman, Coromandel International Limited, said, “With agriculture remaining the backbone of the Indian economy, we welcome the Union Budget’s emphasis on ensuring food security, strengthening rural economy, as well as building resilience and productivity in agriculture. The proposed comprehensive review of the agricultural research setup to focus on improving productivity and developing climate resilient crops will lend an impetus to ensuring that Indian agriculture can withstand climate impact. The initiative to bring together experts from both the government and the private sector will lend a much-needed fillip to the R&D in the agri sector."

Budget 2024 LIVE Updates: Riju Jhunjhunwala, CMD RSWM Ltd & MD Bhilwara Energy Ltd, said, “The Union Budget 2024 presents a holistic approach to India's economic growth, with a strong emphasis on manufacturing, energy, and sustainability. The employment incentives for the manufacturing sector are poised to stimulate job creation and strengthen our workforce. The focus on nuclear energy development and indigenous thermal power technologies demonstrates a commitment to energy security and efficiency.”

Budget 2024 LIVE Updates: Debopam Chaudhuri, Chief Economist of Piramal Group said, “India is a frontrunner in filling the vacuum created by China’s economic slowdown. A key requirement for this is sustained capex in Infrastructure supported by availability of cheap capital. Afterall, China in its heydays, used to invest 10-20% of GDP in building infrastructure. This Union Budget remains committed in the public capex agenda, while maintaining fiscal discipline. It is impressive to note that despite political considerations, the Finance Ministry delivered a largely zero sum budget, with the exchequer rising by a mere ₹50,000 crores (entirely revenue expenses), compared to Interim budget estimates.”

Budget 2024 LIVE Updates: Vinnaayak Mehta, Founder, The Infinity Group, “In light of the recent market fluctuations, the Union Budget for 2024-25, presented by Finance Minister Nirmala Sitharaman, offers a strategic blueprint to stabilize and invigorate India's economic landscape. The budget's focus on setting up additional Debt Recovery Tribunals for faster debt resolution will significantly enhance financial stability and investor confidence. This move is crucial in restoring market equilibrium and ensuring efficient recovery of overdue debts.”

Budget 2024 LIVE Updates: Pranav Bajaj, Co - Founder, Medulance, said, “The Finance Minister has allocated ₹89,287 crores for healthcare this year, surpassing last year's allocation of ₹88,956 crores. This increase underscores the government's commitment to enhancing healthcare services across the nation. We also commend the launch of Phase 4 of the PM Gram Sadak Yojana, which will extend all-weather roads to 25,000 rural habitats.”

Budget 2024 LIVE Updates: Anil Agarwal, Chairman, Vedanta Ltd said on the Union Budget 2024-25, “The focus on job creation with three innovative employment-linked schemes is timely. The abolition of angel tax will give a big boost to our startups and young entrepreneurs who are the job creators of the future. The commitment to speed up IBC resolution will lead to 12000 businesses restarting operations and many more jobs. I am also delighted to see the announcement related to Critical Minerals Mission. India must explore, mine and process these metals of the future domestically.”

Budget 2024 LIVE Updates: Girish Kousgi, MD & CEO, PNB Housing Finance, said, “The Finance Minister’s progressive and inclusive Budget lays a solid foundation for sustainable real estate development and economic growth, benefiting millions across the nation. Expanding the Pradhan Mantri Awas Yojana (PMAY), by making provision for 3 crore more houses in urban and rural areas under the scheme, is a significant step towards realising the government’s vision of ‘Housing for All.’"

Budget 2024 LIVE Updates: Debashis Chatterjee, CEO and Managing Director, LTIMindtree, said, “The Union Budget 2024 – 25 is a significant step towards realizing the vision of a Viksit Bharat. The government’s comprehensive approach, encompassing skilling, infrastructure development, and digital transformation, is truly commendable. The budget's emphasis on fostering a skilled workforce through initiatives such as the comprehensive internship program is particularly noteworthy. At LTIMindtree, we are deeply committed to nurturing talent and driving technological innovation. By equipping young talent with practical experience, these initiatives will fully empower them to make substantial contributions to the nation’s progress.”

Budget 2024 LIVE Updates: Anil G Verma, Executive Director and CEO, Godrej & Boyce, said, “The first full budget of the new Government was a balanced one with the Government delicately balancing the needs of the economy through its focus on the nine priority areas of agriculture, employment, inclusive development, manufacturing and services, urban development, energy, infrastructure, innovation and R&D, and next generation reforms.”

Budget 2024 LIVE Updates: Manoj Bhat, MD & CEO, Mahindra Holidays and Resorts India Ltd, said, "The budget is focused on fiscal prudence, stimulating investments, providing employment, and encouraging growth in the economy. The emphasis on improved connectivity and infrastructure will greatly benefit the domestic tourism sector. The spotlight on developing religious tourism, will further boost the local economy by providing investment and employment.”

Budget 2024 LIVE Updates: Girish Kousgi, MD & CEO, PNB Housing Finance, said, “The Finance Minister’s progressive and inclusive Budget lays a solid foundation for sustainable real estate development and economic growth, benefiting millions across the nation. Expanding the Pradhan Mantri Awas Yojana (PMAY), by making provision for 3 crore more houses in urban and rural areas under the scheme, is a significant step towards realising the government’s vision of ‘Housing for All.’"

Budget 2024 LIVE Updates: ‘ Radhika Rao, Executive Director and Senior Economist, DBS Bank, said, “Faced by a trade-off between fiscal consolidation and expectations for measures to boost demand, the FY25 Budget struck a fine balance by continuing to consolidate finances while also tackling social sector demands, with a focus on saving over spending. The strong revenue handover from the prior year was evenly split between tightening the fiscal deficit target by a further 20bp to -4.9% of GDP vs the interim budget and rest towards the increase in revenue spending. Nominal GDP forecast was maintained with conservative tax buoyancy assumptions, leaving the room for additional revenue cushion."

Rajat Agrawal, CEO, Barista Coffee said, “Budget 2024 is forward looking and looks at creating employment opportunities with direct benefits to the corporates by compensating with payroll cost of new joiners, this would further assist a new set of retail client base. Further, there is a small window of tax savings with new tax rates which may also result in more money in hand of the consumers.

Budget 2024 LIVE Updates: Raghav Gupta, Managing Director, APAC and India, Coursera, said “The Union Budget 2024-2025 showcases a crucial commitment to boosting education, employment, and skill-building capacity, perfectly aligning with the Government's vision of Viksit Bharat by 2047. The budget’s special focus on skilling 20 lakh youth over the next five years through centrally sponsored schemes, the upgradation of 1,000 training institutes, and the provision of skilling loans are steps in the right direction.”

Budget 2024 LIVE Updates: Dhiraj Relli, MD & CEO, HDFC Securities said, “The latest Union Budget on an overall basis is broadly positive despite the higher tax on capital gains and higher STT. The negative sentimental effect of the higher taxes may be over in a couple of days. The provision for boosting spends in the agri sector, increase in spend on affordable housing, new schemes to provide incentives for employment generation etc. may lay the foundation for medium-term inclusive growth.”

Arpit Chug, Chief Financial Officer, Razorpay, said, “Despite challenges, the startup ecosystem has significantly contributed to the country’s GDP and has played a crucial role in putting India on the global map. Today’s announcement of abolishing angel tax for all tax classes as well as the reduction of TDS for ecommerce operators from 1% to 0.5% underscores the government’s commitment to nurturing entrepreneurship and startup growth in India. This move is a major encouragement for startup investments, easing the tax burden, thereby paving the way for India to become a global innovation hub, led by startups.”

Budget 2024 LIVE Updates: Hamza Arsiwala , President IEEMA, said, “Out of the nine priority areas identified by the government energy security, infrastructure, innovation, employment & skilling, R&D and manufacturing are among the government's key focus areas. The emphasis is on building a roadmap for Viksit Bharat by 2047 by focusing on job creation, skill upgradation programs and employment-linked incentives on the one hand and creating an environment of boosting manufacturing, infrastructure and MSME sectors."

Budget 2024 LIVE Updates: Sameer Aggarwal, Founder & CEO, Revfin, said, “The Union Finance Budget 2024 announced by the Hon'ble Finance Minister lays a comprehensive roadmap towards transforming India into a developed economy. The significant focus on skill development, employment generation, and empowering women through skilling and employability initiatives will undoubtedly foster a more inclusive and robust workforce.”

Pranav S, Founder & CEO, Control One AI, said, “The decision to abolish the angel tax for all classes of investors marks a significant milestone for the Indian startup ecosystem. This move will provide a substantial boost to startups, enabling them to raise capital more effectively amid the ongoing funding challenges. By eliminating the 30 percent income tax on investments exceeding fair market value, the government has addressed a critical pain point that has been hindering innovation and growth.”

Anil G Verma, Executive Director and CEO, Godrej & Boyce, said, “The first full budget of the new Government was a balanced one with the Government delicately balancing the needs of the economy through its focus on the nine priority areas of agriculture, employment, inclusive development, manufacturing and services, urban development, energy, infrastructure, innovation and R&D, and next generation reforms. The reduction in FY25 fiscal deficit target from 5.1% to 4.9% is macro-positive. The capex outlay kept unchanged as Rs.11.1 lakh crore, shows the government’s unwavering focus on investments to drive the economy forward.”

Amit Chadha, CEO and Managing Director, L&T Technology Services, said, “Union Budget FY25 by Finance Minister Nirmala Sitharaman presents a holistic approach to boosting employment, skilling, and infrastructure development. The allocation of ₹2 lakh crore towards employment and skilling schemes, coupled with groundbreaking initiatives for women empowerment and an ambitious internship program, will create a robust talent pipeline vital for the industry.”

Achala Jethmalani, Economist, RBL Bank said, “From a macroeconomic standpoint, the increased revenue receipts led fiscal consolidation augments well for the economy at large. The social sector spending and the focus on extending loans under several schemes implies increased financial intermediation. The land related reforms proposed in the budget if gets implemented would help facilitating credit flow and other agricultural services to the end-user.”

Budget 2024 LIVE Updates: Tribhuwan Adhikari, MD & CEO, LIC Housing Finance, said, “The Union Budget has put comprehensive focus on housing and rural development alongside the economic growth narrative. The allocation of ₹2.66 lakh crore for rural infrastructure and the construction of 3 crore additional houses under the PM Awas Yojana in both rural and urban areas are complementary and would significantly boost housing demand. Rental housing has received the attention and will improve the housing stock. Other positives are digitization of land records, PM Surya Ghar Muft Bijli Yojana, encouraging states on moderation of high stamp duty rates and considering lower stamp duty on properties purchased by women. These measures will stimulate the housing market, driving demand and fostering socio-economic growth."

Budget 2024 LIVE Updates: Ajay Kumar Srivastava, Managing Director & CEO, Indian Overseas Bank, said, “The focus given in the Union Budget 2024 to the MSME sector is going to provide a huge boost to the growing number of entrepreneurs in the country. The initiatives announced such as - credit guarantee schemes for MSMEs, increasing the limit of Mudra loans to INR 20 lakhs to those who have paid back the loans earlier, creating alternate methods to evaluate eligibility of MSME for loans, as well as expanding branches by SIDBI, all of these initiatives is expected to provide the much-needed accessibility to credit and additional support required for further growth of the sector. We are optimistic and committed to leveraging these initiatives to foster growth and create socio-economic impact across the country.”

Budget 2024 LIVE Updates: Amit Kishore Prasad, Founder & MD, SatNav Group, said, “Women in workforce will get a major boost with the FM's assurance that Creches will be set up to help them, this is already a part of the Maternity Act 2017, just needs to be implemented with a sense of much greater urgency in Government Departments, PSUs and Private Companies.”

Ankur Goel, CEO & Founder of Skillible, said, “The recent budget announcement by Finance Minister Nirmala Sitharaman has set a strong precedent for the future of education and skill development in India. Skillible commends the introduction of E-vouchers for 1 lakh students, facilitating a 3% interest subvention on loans, and the ambitious plan to upgrade 1,000 industrial training institutes.”

Budget 2024 LIVE Updates: Saurav Kasera, Co-Founder and CEO, Clirnet and DocTube, said, “The Union Budget 2024-25 presents several promising initiatives for the digital sector. The abolition of the angel tax is a significant step that will foster innovation and support start-ups. The emphasis on research and development, particularly through the Anusandhan National Research Fund, will drive technological advancements.”

Budget 2024 LIVE Updates: Sashi Kumar, Head of Sales, Indeed India, said, “The emphasis on initiatives to incentivize first-time entrants to the job market is essential. The government's plans to enhance skills, improve infrastructure, and support entrepreneurs are crucial steps to boost job opportunities and the economy.”

Budget 2024 LIVE Updates: Ramesh Nair, CEO, Mindspace Business Parks REIT, says, “The finance minister announced several positive initiatives for the real estate sector, positioning cities as growth hubs and introducing a brownfield development framework. Key initiatives include transit-oriented developments in 14 cities, 100 new industrial parks with nearby labor housing, ₹2.2 lakh crores for urban housing, stamp duty reforms, digitalization of land records, and ₹11 lakh crores for infrastructure capex."

Kamal Singal, Managing Director & CEO, Arvind SmartSpaces Ltd, said, “The Union Budget 2024-25 presents a visionary approach to urban development, aligning with our commitment to creating sustainable and vibrant urban spaces."

Amit Sinha, Managing Director & CEO, Mahindra Lifespace Developers Ltd, said, "We welcome the focus on urban development and growth hubs. The allocation of 10 lakh crore rupees under the PM Awas Yojana, including interest subsidies, will make housing much more affordable for the urban poor and middle class. Overall, this Budget has laid a strong foundation for sustainable urban development."

Budget 2024 LIVE Updates: Navneet Munot, MD & CEO, HDFC AMC, said, “Union Budget aimed to strike a fine balance between fiscal prudence and growth impetus. Budget has focused on continuing SIP i.e. Sustainable development, Inclusive growth and Prudence (fiscal consolidation). Spotlight on skilling and job creation could help India reap rewards of its demographic edge. While digesting the taxation changes, equity markets will shift focus back on earnings trajectory and other macro-economic developments. Continuing commitment to fiscal consolidation could bode well for the bond market. Budget has focused on continuing SIP i.e. Sustainable development, Inclusive growth and Prudence (fiscal consolidation). Spotlight on job creation will help India reap rewards of its demographic edge.”

Budget 2024 LIVE Updates: Warren Harris, CEO & MD, Tata Technologies, said, “We commend the Indian government's recent budget, which places a significant emphasis on youth skill development and employment opportunities. The proposed initiative to equip 20 lakh young people with relevant skills over the next five years is commendable and timely, representing a strategic vision for the future. The commitment to upgrading over 1,000 ITIs is a welcome step forward in recognizing the importance of vocational training and upskilling to address the skill gap. This budget underscores the critical role of youth upskilling as an economic driver, providing a much-needed boost to India's growing workforce and empowering the government's Make in India initiatives."

Budget 2024 LIVE Updates: Kami Viswanathan, President, FedEx, MEISA, said, “We welcome the reduction in corporate tax rates for foreign companies. The Union Budget 2024’s forward-looking proposals to balance infrastructure development, build a skilled workforce, promote environmental stewardship, and advance digitization are set to drive transformative growth. Allocating 3.4% of GDP towards infrastructure, strengthening the Jan Vishwas Bill 2.0, and incentivizing states to implement Business Reform Action Plans will create seamless trade corridors.”

Budget 2024 LIVE Updates: West Bengal chief minister Mamata Banerjee expressed her disappointment with the Union Budget 2024, calling it "directionless, anti-people, and lacking vision." She said, "Directionless, anti-people, no vision, only political mission is there. I don't see any light, it is dark...They make tall claims and make promises during elections. But after they get votes, they forget Darjeeling, Kalimpong...People in the hills of Darjeeling should remember this. Let Sikkim get things, we have no objection but keeping Darjeeling deprived is not right...This Budget is anti-people, anti-poor and not for the common people. This is a Budget to appease one party. This is a Budget full of political biases."

Budget 2024 LIVE Updates: Delphin Varghese - Co-founder and Chief Revenue Officer, AdCounty Media, said, “The tax issue has been a long-standing and vexing problem for early-stage investments since the year 2012, if not from time immemorial. The Angel Tax, levying up to 30.9% on investments far exceeding the fair market value, had stopped a lot of potential big investors. The decision could boost the funding of startups in their early stages, although, at this point in time, India already houses upwards of 84,000, with 107 of them having reached unicorn status, according to official records.”

Budget Speech 2024 LIVE Updates: Ashish Singhal, Co-Founder, Lemonn, and Coinswitch sa, “The securities markets face challenges with the increase in short-term capital gains tax from 15% to 20%, the rise in long-term capital gains tax from 10% to 12.5%, and the hike in STT on F&O. The immediate market reaction has been less than positive.”

Budget Speech 2024 LIVE Updates: Hareesh V, Head of Commodities, Geojit Financial Services, said, “Customs duty on gold and silver has been reduced to 6% that may lead to a decline in domestic prices and perhaps lift demand. The existing duty on gold and silver is 15 percent which comprises 10% of basic custom duty and 5 percent as Agricultural Infrastructure Development cess.”

Vaibhav Porwal, Co-founder, Dezerv, said, “The recent changes in the union budget, particularly the increase in STCG and LTCG tax signal a significant shift. While the market's initial reaction may seem bearish, we believe these changes will ultimately foster a more stable and mature investment environment.”

Budget Speech 2024 LIVE Updates: Dhiresh Bansal, Chief Financial Officer at Meesho, said, "We welcome the government's forward-thinking measures in today's budget, which supports the equitable development of small businesses. Reducing TDS rates on e-commerce operators is a much-needed change which will enhance liquidity. Previously, small businesses had to wait a year to claim their refunds. This change will now lead to improved working capital efficiency, creating more parity between online and offline. We are excited to see the positive impact this will have on the nation’s economic growth.”

Budget Speech 2024 LIVE Updates: Ravi Goel, Chief Business Officer, RapidShyp, said, “The budget announcement by the Hon’ble Finance Minister Smt Nirmala Sitharaman is extremely progressive. The government has continued focusing on steps to help the economy by prioritizing infrastructure development and fiscal discipline. The allocation of ₹11.1 lakh crore, representing 3.4% of GDP, is a significant leap towards transforming India's infrastructure landscape.”

Budget Speech 2024 LIVE Updates: Finance Minister Nirmala Sitharaman said that she can't take a call on whether the old tax regime will be done away with but said that the intention is to make the tax regime simpler.

Budget Speech 2024 LIVE Updates: Finance Secretary TV Somanathan said that expenditure towards railways is the highest ever.

Budget Speech 2024 LIVE Updates: Nirmala Sitharaman said that ₹15,000 crore to Andhra Pradesh will be through multi-lateral assistance.

Budget Speech 2024 LIVE Updates: Vineet Agarwal, Managing Director, Transport Corporation of India Ltd, said, "Enhanced rural critical infrastructure will enable us to boost our cold supply chain footprint along with general warehousing & transportation network, further optimizing our operations to provide more reliable, efficient services to our customers.

Nishith Rastogi, Founder & CEO, Locus.sh, said, “The substantial allocation of ₹11.1 lakh crore, equivalent to 3.4% of GDP, is a significant commitment to elevating India's infrastructure landscape by facilitating the creation and improvement of key elements such as airports, highways, and logistics hubs."

Budget Speech 2024 LIVE Updates: Sanjay Katkar, Jt. Managing Director of Quick Heal Technologies Ltd, “The government's commitment to innovation is evident with the announcement of a comprehensive package that includes financing, regulatory changes, and technology support for MSMEs, aiding their growth and global competitiveness. This special focus on MSMEs highlights the dedication to nurturing the backbone of our economy. By providing essential technological support, the budget ensures that MSMEs can thrive in an increasingly digital world."

Budget Speech 2024 LIVE Updates: Dhruv Chopra, Managing Partner, Dewan P. N. Chopra & Co, said, “Proposal to Tax buy back of shares by domestic companies in the hands of shareholders will potentially bring parity between tax implications on declaring dividends and buy back. Historically shareholders have enjoyed the benefits of a lower tax implication on buyback with savings of 12 % approximately on distribution of profits by companies in form of Buy back vs. Dividend.”

Budget Speech 2024 LIVE Updates: CA Krishna R, CEO and Director, Unimoni Financial Services Limited, “The Budget lays great emphasis on promoting tourism, especially making Indian pilgrim centres world-class tourism destinations. Developing temple corridors, connecting ancient cultural landscapes and pilgrim centres such as Rajgir, Nalanda, Odisha and southern temple cities has huge potential to attract foreign as well as domestic tourists. India’s tourism industry has attracted more than 90 lakh foreign tourists in 2023, registering a growth rate of over 40% year on year.”

Budget Speech 2024 LIVE Updates: Sumit Kumar, Chief Strategy Officer at TeamLease Degree Apprenticeship, said, “The recent budget announcement, featuring a transformative ₹2 lakh crore initiative, sets an ambitious precedent for reshaping employment and skilling opportunities in India. With a targeted outreach to 4.1 crore youth over five years, this initiative is poised to make a significant impact by seamlessly integrating education, skill development, and employment.”

Budget Speech 2024 LIVE Updates: Shyam Menon, Co-Founder & Partner, Bharat Innovation Fund, said, "The recent abolition of the Angel Tax is a significant and positive step towards alleviating a longstanding issue in startup investing. For some time, Angel Tax has been a notable point of friction, creating challenges for investors and startups alike. By eliminating this tax, the government is addressing a key barrier that has hindered investment in emerging businesses. This strategic move is expected to stimulate an increase in capital inflow, thereby fostering a more supportive environment for the formation and growth of startups within the country."

Budget Speech 2024 LIVE Updates: Swetha Kochar, Founder & Partner, PKC Management Consulting, said, "a big relief on reassessment and reopening of returns filed for earlier years which has been reduced to 6 years as opposed to 10 years earlier, including in search cases. LTCG on shares has been increased from 10% to 12.5%. Period for non-financial assets to qualify as LTCG is brought down to 2 years. Lowering of LTCG rate on sale of land/gold/unlisted shares to 12.5% in place of 20% is beneficial even though indexation is removed - overall will benefit most taxpayers.

Budget Speech 2024 LIVE Updates: Vinod Singh, CEO and Co founder, Finhaat, said, “The budget's focus on skilling, employment and agriculture is expected to have a major positive impact on lower-class and rural populations. Programs like DBT, Incentives for the creation of manufacturing jobs and dedicated allocation for skilling are expected to have a cascading effect on employment and MSME growth.”

Budget Speech 2024 LIVE Updates: Sanjay Mandhava, Founder & CEO of Landeed, "The Government's announcement to digitize land records using GIS technology will undoubtedly save time, reduce fraud, and boost confidence among property owners, investors, and developers. This significant move towards digitization will enhance transparency and accuracy in land transactions, while also streamlining the entire property management process, fostering a more robust and trustworthy real estate market in India "

Budget Speech 2024 LIVE Updates: S Anand, Chief Executive Officer and Founder of PaySprint, said, “As we eye on the budget 2024 today, we shift our gaze to the improvements in the manufacturing and services sector, where FM Nirmala Sitharaman announced the credit support for MSMEs, increasing the loan limit from ₹10 lakh to ₹20 lakhs, especially for those, who have availed and repaid loans under Tarun Category. Enhancing the mudra loan limit is a strategic move that supports the backbone of the Indian economy. It fosters a conducive environment for growth, innovation, and competitiveness, ensuring that these enterprises can contribute robustly to the nation’s economic development.”

Hardika Shah, Founder & CEO, Kinara Capital, said, “The Union Budget has made significant strides in promoting women's economic participation. To this end, a number of initiatives were announced, supported by the allocation of more than INR 3 lakh crore for schemes benefitting women and girls. Initiatives like setting up working women’s hostels in collaboration with industries and the establishment of creches, organizing women-specific skilling programmes, and promoting market access for women SHGs are commendable steps towards addressing challenges faced by women.”

Avneet Singh Marwah, CEO of SPPL, said, “The Union Budget 2024 demonstrates a strong commitment to job creation in the manufacturing sector. By providing targeted incentives for EPFO contributions, the government aims to generate significant employment opportunities for both employers and the 30 lakh young people entering the workforce. This initiative reflects a strategic approach to meeting employment needs in our rapidly evolving economy.”

Bipin Gupta, Product Manager, EZVIZ, said, “The 2024 Union Budget brings hopeful developments for the smart home security sector. The increase in the standard deduction to ₹75,000 and the revised tax slabs—where individuals earning up to ₹3 lakh will pay no tax, and those earning between ₹3 lakh to ₹7 lakh will benefit from a 5% tax rate—are likely to increase disposable income.”

Budget Speech 2024 LIVE Updates: Aravind Maiya, Chief Executive Officer of Embassy REIT, said, “Reducing the holding period for long-term capital gains from 36 to 12 months puts us at par with listed equity shares, further popularizing the REIT asset class in India. Over the past five years, REITs have transformed the Indian real estate landscape, attracting around 2.3 lakh investors.”

Budget Speech 2024 LIVE Updates: Kumarmanglam Vijay, Partner, JSA Advocates and Solicitor, said, “As the new Government has decided to undertake a comprehensive review of the Income-tax Act, 1961 in its first Budget, it is expected to be completed and given effect within the Government’s tenure. This could be a great opportunity for this regime to leave a lasting impact by creating people-friendly provisions that could be administered with the help of technology at a lower cost of administration. This may lay the foundation for a large economic growth for the country if implemented well.”

Budget Speech 2024 LIVE: Rahul Gandhi referred to Sitharaman's Budget as a 'Kursi Bachao' Budget as he criticised it for making hollow promises to appease allies at the cost of other states, providing benefits to cronies without offering relief to the common Indian and being a copy-and-paste job from Congress manifesto and previous budgets.

Akshay Chaturvedi, Founder & CEO, Leverage.biz, said, “The financial support for loans up to ₹10 lakh for higher education and skilling loans up to ₹7.5 lakh will significantly enhance access to education and skill development for students across the country. The Prime Minister’s Package for employment and skilling, along with the three schemes announced for 'Employment Linked Incentive,' demonstrates a strong commitment to empowering youth and addressing the employment challenge."

Budget Speech 2024 LIVE: Prime Minister Narendra Modi said, "In the last 10 years, 25 crore people have come out of poverty. This budget is for the empowerment of the new middle class. The youth will get unlimited opportunities from this budget. Education and skill will get a new scale from this budget. This budget will give power to the new middle class. This budget will help women, small businessmen, MSMEs."

Sandeep Shah, Partner, N.A. Shah Advisors, said, “Government will have to be swift in providing guarantees for those MSME which are about to fall in Special Mention Accounts (SMA) as otherwise the lenders will have to provide for the NPA.”

T Manish, Research Analyst, SAMCO Securities, said, “Finance Minister Nirmala Sitharaman announced Research based setups for raising productivity & Developing climate resistant crops. Providing new 109 climate resistant crops in 32 categories to be developed and released. Companies like Kaveri Seeds, Dhanuka Agritech would be the beneficiaries.”

Budget Speech 2024 LIVE: Sandeep Agrawal, Director and Co-Founder, TeamLease RegTech, said, “The abolition of Angel Tax is a much-awaited move by the finance minister. This will boost the entire Start-up ecosystem and is viewed as pro-business and pro-innovation measures that will stimulate the economic growth and job creation. Steps like comprehensive digitalization of taxpayer services, simplification & rationalization of the GST tax structure, and integration of the e-shram portal with other platforms to offer a unified labour services solution, etc. indicates government’s commitment towards digitalization aimed at building transparency and enhancing ease of compliances for corporates in India.”

Vivek Iyer, Partner at Grant Thornton Bharat, said, "Digital Public Infrastructure in agriculture will provide more farmer data, enabling fintechs to access mainstream credit information. This will improve credit quality and increase financial inclusion for farmers."

Nilaya Varma, Co-Founder and CEO at Primus Partners, said, “Very happy to see skilling pivoting to being demand driven. We have always argued that government needs to incentivize the employer so that skill premium can be institutionalized and skilling ecosystem is more demand driven.”

Prashant Daftary, Partner, N.A. Shah Associates, said, “Incentives for new employment to manufacturing industries would give a significant boost to employment. The benefits and eligibility are significant to cover a large section of new employees.”

Sameer Jain, Managing Director at Primus Partners, said, “A very explicitly laid out plans on Climate Action bodes well esp. in harnessing the areas of Renewables, Agriculture, etc. PLI interventions to promote the industry in Renewables will lead to the much needed Corporate action.“

Budget Speech 2024 LIVE: T Manish, Research Analyst, SAMCO Securities, said, “The Finance Minister announces improvements in the agriculture industry by Digitizing public infrastructure for their lands within 3 years for 6 crore farmers in partnership with states. Benefiting companies like CDSL, CE Info Systems, Genesys.”

Budget Speech 2024 LIVE: Nilaya Varma, Co-Founder and CEO at Primus Partners, said, “Jobs has to be at the core of economic growth. It is glad to see jobs, skills and education at the core of the Budget speech. Translating the allocation and new initiatives into action, making it demand driven, not supply driven can only ensure success of this intent.”

Budget Speech 2024 LIVE: Defence minister Rajnath Singh said, "This Budget is unique in many ways and by clearly outlining NDA Government’s 9 key priorities for all-round and inclusive development, it has successfully elevated India’s growth trajectory. This Budget will go a long way in making India a five trillion dollar economy by 2027.

Numerous policies and programmes to support India’s farmers, youth, women and other weaker sections of the society have also been announced. Sectors like infrastructure, agriculture, banking, energy, industry, R&D, MSMEs and defence have been given special care and attention.

This budget will boost demand, create new opportunities for youth and propel India’s economy onto the global stage. I thank PM and FM for giving India a monumental push to India’s economic and social development."

Budget Speech 2024 LIVE: Home minister Amit Shah said, “The Budget 2024–25 not only exemplifies Bharat's newfound sense of purpose, hope and optimism under the PM Modi Ji -led NDA government but also fortifies them. Harnessing the power of Bharat's youth, Nari Shakti and farmers, the budget fuels the nation's pace on the path of emerging as a developed nation by ushering in a new era of employment and opportunities."

Budget Speech 2024 LIVE: Maninder Singh Nayyar, CEO and Founder, CEF Group, said, “Today's announcements by the Finance Minister mark a significant step forward for India's agricultural sector. The comprehensive review of the agricultural research setup, aimed at increasing productivity and developing climate-resilient varieties, is a crucial initiative.”

Budget Speech 2024 LIVE: Su Piow Ko, CEO of AET Displays, said, “The Union Budget 2024-25 provides significant support to the manufacturing sector, particularly through its focus on MSME clusters. The introduction of easy financing and credit guarantee schemes, along with the facilitation of collateral-free term loans for the purchase of machinery and equipment, will greatly enhance the manufacturers and suppliers network.”

Here are the goods that became cheaper:

Cancer medicines as customs duties on three cancer medicines have been exempted

Basic customs duty (BCD) on mobile phones, PCBAs and mobile chargers reduced to 15%

Customs duty on gold and silver reduced to 6% and on platinum to 6.5%

BCD on fish feed and shrimp reduced to 5%

Customs duties exempted on 25 critical minerals

Budget Speech 2024 LIVE: This is what Andhra Pradesh is getting from the Budget

1. Financial support of ₹15,000 crores will be arranged in FY 24-25
2. Completion of Polavaram Irrigation Project
3. Essential infrastructure such as water, power, railways and roads in Kopparthy node on the Vishakhapatnam-Chennai Industrial Corridor and Orvakal node on Hyderabad-Bengaluru Industrial Corridor

Budget Speech 2024 LIVE: Ramesh Alluri Reddy, CEO at TeamLease Degree Apprenticeship, said, "The Union Budget 2024's renewed thrust on job creation is both timely and commendable. With the Finance Minister Nirmala Sitharaman announcing that one crore youth will receive internship opportunities in the top 500 companies, with an allowance of ₹5000 per month and ₹6000 as one-time assistance. This significant investment in skill development programs and the incentivization of industries to adopt comprehensive apprenticeships lays a solid foundation for a future-ready workforce. Integrating on-the-job training (OJT) as a mandated component of degrees, in collaboration with industry partners, allows students to gain invaluable practical experience, even if the training is not necessarily on-site. This initiative is a welcome move towards formal job creation, bridging the gap between theoretical education and real-world application, making graduates more job-ready. By focusing on employment and skilling, the government is not only addressing the immediate need for employment but also building a sustainable pipeline of skilled professionals for the future."

Budget Speech 2024 LIVE: Karthik Srinivasan, Chief Business Officer, at HDB Financial Services, said, “Today's budget announcement heralds a transformative era for Bharat, particularly for our vibrant MSME sector. By facilitating the working capital needs, setting up food irradiation units and quality testing labs, and establishing e-commerce export hubs, the government is laying a robust foundation for MSMEs to thrive. These measures will empower small and medium enterprises to grow, compete globally, and drive economic growth.”

Budget Speech 2024 LIVE: Stock markets bleed, Sensex down 1000 points

Budget Speech 2024 LIVE: Raj Gaikar, Research Analyst, SAMCO Securities, said, “The finance minister has extended Mudra loans limit to ₹20 lakhs from ₹10 lakhs. The Mudra loans are disbursed through PSU banks, Small Finance banks, and NBFC, hence the announcement of a limit extension will benefit companies like SBI, Bank of Baroda, Bank of India, Union Bank of India, AU Small finance banks.”

Budget Speech 2024 LIVE: Limit of LTCG tax hiked from 10% to 12.5%, FM says

Budget Speech 2024 LIVE: Nirmala Sitharaman said, “I announce a comprehensive review of the Income Tax Act 1961. This will reduce disputes and litigation. It is proposed to be completed in 6 months.”

Budget Speech 2024 LIVE: Finance minister presents Budget 2024-25 with 9 priorities for 'Viksit Bharat' that will “guide India toward strong development and all-round prosperity”. Read here

Budget Speech 2024 LIVE: Rishi Agrawal, CEO & Co-Founder, TeamLease RegTech, said, “The finance minister has put the spotlight on the expedited closure of LLPs. This measure will aid in reducing the duration of closure for non-viable limited liability companies. She has also addressed the issue of reforming and enhancing the Insolvency Business Center (IBC) in order to expedite the resolution of insolvencies. These steps will help ease the ease of doing business by helping improve the efficiency of corporate exits, which has been an issue in the country."

Budget Speech 2024 LIVE: Aamar Deo Singh, Sr. Vice President of Research, Angel One Ltd, said, “Govt's big push on Job creation in the manufacturing sector - This initiative will reimburse employers up to ₹3,000 per month for two years towards EPFO contributions for each additional employee, aiming to incentivize the additional employment of 50 lakh people.”

Budget Speech 2024 LIVE: Customs duty on gold and silver to be reduced to 6%, platinum to 6.4%

Budget Speech 2024 LIVE: Nirmala Sitharaman said, “GST has significantly reduced tax incidents for the common man and eased compliance for industry, marking a success of vast proportions. To further enhance the benefits of GST, we will strive to rationalize the tax structure.”

LC Mittal, Director, Motia Group, said, “Bringing investment in urban housing to ₹10 lakh crore under PM AWAS Yojana Urban 2.0 is a quantum jump seen in the nation's response towards its urban housing crisis. A commitment of this magnitude for one crore families exhibits that the Centre is serious about making urban development inclusive. The contribution by Centre, which will be ₹2.2 lakh crore over a period of five years, gives financial muscle to the scheme. This huge investment is most likely to have far-reaching effects beyond the simple provision of housing. It could stimulate the construction sector, create millions of jobs, and boost allied industries.”

Budget Speech 2024 LIVE: Finance minister Nirmala Sitharaman announced scheme for rooftop solar panels that would enable 1 crore households to have electricity free of cost upto 300 units per month. She said, “PM Suryaghar Muft Bijli Yojana has been launched to install rooftop solar panels to enable 1 crore households to obtain free electricity upto 300 units each month. This scheme will further encourage it.”

Budget Speech 2024 LIVE: Ankit Aggarwal, founder & CEO, Unstop said, “I am glad to see Budget 2024's focus on youth employment and skilling. The ₹2 lakh crore allocation for employment schemes is the beginning to a brighter future. The incentives for job creation and the plan to skill 20 lakh youth over five years is what we needed.The support for higher education loans and the push for women in the workforce is also a big plus. It feels good to see the government recognising the need to focus on key areas that can make our journey towards a skill based economy smoother.”

Budget Speech 2024 LIVE: Gaya and Mahabodhi temples to get corridors, Nalanda to be transformed into tourism hub, FM announces.

Budget Speech 2024 LIVE: On development of small and modular nuclear reactors in the country, Nirmala Sitharaman said, "The govt will partner with the private sector for setting up Bharat small reactors, research and development of Bharat small modular reactors & research and development of newer technologies for nuclear energy."

Budget Speech 2024 LIVE: On free solar electricity scheme, Finance minister Nirmala Sitharaman said, "PM Suryaghar Muft Bijli Yojana has been launched to install rooftop solar panels to enable 1 crore households to obtain free electricity upto 300 units each month. This scheme will further encourage it."

Budget Speech 2024 LIVE: Finance minister Nirmala Sitharaman announced that jousing needs of 1 crore urban poor and middle class families to be addressed with investment of ₹10 lakh crore.

Budget Speech 2024 LIVE: Gaurav Singh Parmar, Associate Director, Fincorpit Consulting, said, “The allocation of ₹1.48 lakh crore for education, employment, and skill development in the Budget of 2024-25 is a big step toward investing in human capital development. This massive investment, routed through EPFO, underlines that the government does recognize the existence of a linkage between education, skills, and employment.”

Budget Speech 2024 LIVE: Finance minister Nirmala Sitharaman said, "Working women hostels will be set up. Higher participation of women in workforce to be promoted through hostels and creches...Our government will bring National Cooperation Policy for overall development. Our government will provide financial support for loans upto 10 lakhs for higher education in domestic institutions"

Budget Speech 2024 LIVE: FM announces ₹2.2 lakh crore push to make urban housing more affordable

Budget Speech 2024 LIVE: Sidbi to open 24 new branches to serve MSMEs clusters, says FM

Budget Speech 2024 LIVE Analysis: Govt to launch scheme to offer internship in top companies to one crore youth in five years, says FM

Budget Speech 2024 LIVE Analysis: On credit guarantee schemes for MSMEs in manufacturing, Nirmala Sitharaman said, "to facilitate term loans for MSMEs for the purchase of machinery and equipment without collateral and guarantee, a new scheme will be introduced. This guarantee fund will provide guarantees of up to ₹100 crore."

Budget Speech 2024 LIVE Analysis: 2.66 lakh crore for rural development, Nirmala Sitharaman announces.

Budget Speech 2024 LIVE Analysis: Nirmala Sitharaman said that the government will arrange financial assistance to Bihar through aid from multilateral development agencies. A plan will be formulated for Purvodaya for all round development of Bihar, Jharkhand, West Bengal, Odisha, and Andhra Pradesh. Patna-Purnya expressway, Buxar-Bagalpur expressway, Bodhgaya-Rajgir-Vaishali-Darbanga spurs, and additional two-lane bridge over Ganga at Baksar at ₹26,000crore, she said. Power projects, including 2400 MW power plant at Pir Payanti to be taken up at ₹21,400crore.

Budget Speech 2024 LIVE Analysis: Nirmala Sitharaman said that the limit of Mudra loans will be extended to ₹20 lakh from ₹10 lakh for those who have availed and paid previous loans.

Budget Speech 2024 LIVE Analysis: Finance minister Nirmala Sitharaman said, "Andhra Pradesh Reorganisation Act- Our govt has made efforts to fulfil the commitments in Andhra Pradesh Reorganisation Act. Recognising the state's need for capital, we will facilitate special financial support through multilateral agencies. In the current FY, ₹15,000 crore will be arranged with additional amounts in future years."

Budget Speech 2024 LIVE Analysis: The Finance minister said that the request from Bihar government for external assistance from multilateral development banks will be expedited.

Budget Speech 2024 LIVE Analysis: Nirmala Sitharaman said, “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% target. I am happy to announce the Prime Minister's package of 5 schemes and initiatives to facilitate employment, skilling and other opportunities for 4.1 crore youth over 5 years with a central outlay of ₹2 lakh crores. This year we have made a provision of ₹1.48 lakh crores for education, employment and skilling.”

Budget Speech 2024 LIVE Analysis: The Finance Minister announced that increasing the participation of women in the workforce will be a priority. This will be done by setting up hostels and creating partnerships to organize women-specific skilling programs.

Budget Speech 2024 LIVE Analysis: Milan Mody, Managing Partner, N.A. Shah Advisors, said, “The budget proposes significant benefits for new and additional employment to propel growth. 3 schemes are being announced which include one month wage upto 15,000 for first time employee with salary upto Rs.100,000. Benefit will disbursed in 3 Installment.”

Budget Speech 2024 LIVE Analysis: Nirmala Sitharaman announces financial support for loans up to ₹10 lakh for higher education.

Budget Speech 2024 LIVE Analysis: Nirmala Sitharaman announced employment-linked skilling through schemes as part of the PM's package. She said, "These schemes will be based on enrolment in the EPFO, focusing on recognizing first-time employees. First-timers will receive one month's wage upon entering the workforce in all formal sectors. A direct benefit transfer (DBT) of one month's salary, up to ₹15,000, will be provided in three instalments. The eligibility limit for this benefit will be a salary of ₹1 lakh per month, and it is expected to benefit 2.1 lakh youths."

Budget Speech 2024 LIVE Analysis: The FM said that agricultural research will be transformed to focus on raising productivity and climate resilient varieties. She also said that a comprehensive review of farm research setup to be undertaken for developing climate resilient crop varieties.

Budget Speech 2024 LIVE Analysis: Nine priorities for this year and coming years, as per Nirmala Sitharaman are:

Productivity and resilience in Agriculture

Employment and skilling

Inclusive HRD and social justice

Mfg & services

Urban development

Energy security

Infra

Innovation, R&D

Next generation reforms

Budget Speech 2024 LIVE Analysis: Finance minister Nirmala Sitharaman said, 'We need to focus on the garib, mahilaye, yuva, and annadata. For annadata, we announced higher MSP a month ago for all major crops, delivering on our promise. The PM Garib Kalyan Anna Yojana was extended for five years, benefiting more than 80 crore people. Administrative actions for the approval and implementation of various schemes announced in the interim budget are well underway.'"

Budget Speech 2024 LIVE Analysis: Five schemes to focus on 4.1 crore youth over 5 years with a central outlay of ₹2 lakh crore, Nirmala Sitharaman said.

Budget Speech 2024 LIVE Analysis: Finance minister Nirmala Sitharaman said, "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."

Budget Speech 2024 LIVE Analysis: Finance Minister Nirmala Sitharaman said, "The people of India have reposed their faith in the govt led by PM Modi and re-elected it for the historic third term."

Budget Speech 2024 LIVE Analysis: Finance Minister Nirmala Sitharaman begins presentation of her 7th Union Budget in Lok Sabha.

Budget Speech 2024 LIVE Analysis: Indian stock market is subdued ahead of the budget presentation and is under-performing their peers in Asia. Leading the losses are metal companies, state-owned firms and lenders today.

Budget Speech 2024 LIVE Analysis: Delhi Minister Atishi said, "We expect that Delhi will get ₹20,000 crores. The people of Delhi give ₹2 lakh crore and ₹25,000 as a central share of GST. We expect to get at least 10% of that. We have demanded ₹10,000 crore for infrastructure and ₹10,000 for MCD."

Budget Speech 2024 LIVE Analysis: Congress MP and LoP in Lok Sabha, Rahul Gandhi reaches Parliament ahead of Union Budget presentation by Finance minister Nirmala Sitharaman in Lok Sabha.

Budget Speech 2024 LIVE Analysis: AAP MP Sanjay Singh said ahead of the Budget presentation, 'In the last 10 years, crores of Indians have suffered from inflation. We will see what measures are taken to address it. Farmers have long been demanding MSP, and NDA allies are also calling for the revocation of the Agniveer Scheme. Employment, MSP, and inflation will be the key areas of focus. I can even reveal the Delhi budget now. For the past 9 years, Delhi has received no more than ₹325 crores, simply because the people of Delhi elected AAP.'"

Budget Speech 2024 LIVE Analysis: All Budget documents can be accessed using the 'Union Budget Mobile App'. The 'Union Budget Mobile App' can be downloaded on Android and iOS platforms. It can also be accessed from the Union Budget web portal. The documents are available in both English and Hindi.

Budget Speech 2024 LIVE Analysis: These are key numbers to watch for the first full Budget of Modi 3.0. Read here

Budget 2024 LIVE Updates: Finance minister Nirmala Sitharaman met President Droupadi Murmu before presenting the Budget in the Parliament. President Droupadi Murmu offered 'dahi-chini' (curd-sugar), which is considered auspicious, to Nirmala Sitharaman before the Finance minister left for Parliament.

Budget 2024 LIVE Updates: Union minister Gajendra Singh Shekhawat said, “The resolution of PM Modi's government since 2014 is that India should become self-reliant and the way the country is moving ahead in this direction in a systematic manner, this time too the budget has been announced in the same format.”

Budget 2024 LIVE Updates: Congress MP K Suresh told ANI, "The previous budgets were anti-people. The Economic Survey also says that they (govt) are not listening to problems like price rise and unemployment faced by the poor. The common man is not getting any benefits from the Budget. The Modi govt is always protecting the corporates."

Budget 2024 LIVE Updates: Union Cabinet headed by PM Modi is meeting in Parliament to approve the Union Budget ahead of its presentation by Finance minister Nirmala Sitharaman, news agency Reuters reported.

Budget 2024 LIVE Updates: Copies of the Budget have been brought to the Parliament. Home minister Amit Shah has also reached the Parliament.

Budget 2024 LIVE Updates: The Union Budget used to presented at 5pm on the last day of February in line with the colonial tradition that allowed announcements to be made simultaneously in London and India. For the first time, Yashwant Singh unveiled the budget at 11 am in 1999.

Budget 2024 LIVE Updates: In 2017, the budget presentation date was rescheduled to February 1 with the aim to enable the administration to finish the parliamentary approval process by the end of March and implement the budget on April 1.

Budget 2024 LIVE Updates: Nirmala Sitharaman holds the record for the longest budget address with a two hours and forty-minute speech on February 1, 2020. At the time, she still had two pages to go when she interrupted her speech.

Budget 2024 LIVE Updates: Finance minister Nirmala Sitharaman has reached Parliament with red tablet for her record 7th Budget speech.

Budget 2024 LIVE Updates: Finance Minister Nirmala Sitharaman headed for Rashtrapati Bhawan with a copy of the Union Budget to meet President Droupadi Murmu.

Nirmala Sitharaman is set to present Budget 2024 in Parliament today at 11 am, marking her seventh consecutive budget presentation.

Budget 2024 LIVE Updates: J&K budget copies have arrived in Parliament as Nirmala Sitharaman is set to present estimated receipts and expenditure for 2024-25 for the Union Territory of Jammu and Kashmir in Parliament today.

Budget 2024 LIVE Updates: Nirmala Sitharaman was seen in a magenta-bordered white silk saree as she posed for the customary "briefcase" photo outside her office prior to meeting with the President.

Budget 2024 LIVE Updates: Finance minister Nirmala Sitharaman headed for Parliament with a computer tablet wrapped in a traditional 'bahi-khata' pouch.

Budget 2024 LIVE Updates: Ahead of Budget 2024 presentation by Finance minister Nirmala Sitharaman, BSE Sensex and Nifty50 opened in green. BSE Sensex moved up 200 points, Nifty50 was above 24,550.

Budget 2024 LIVE Updates: The stock market is expected to remain volatile today as Finance minister Nirmala Sitharaman will table the first union budget of Modi 3.0 after the Lok Sabha election results.

Budget 2024 LIVE Updates: Nilaya Varma, Co-Founder and CEO of Primus Partners, said, “It is after a very very long time, one has seen such high expectations from a budget. It is never easy to balance the needs and hopes of 1.4 billion people. However, we also have a FM who has the experience (7th year) to be able to deliver. Outside of how to boost short term consumption and tweaks to duties, one will be keen to see specific initiatives and spend on capital projects, encouragement to private investments, revival of manufacturing growth to absorb growing job demands coming out of farm sector and fiscal discipline to meet the goals of Viksit Bharat.”

Budget 2024 LIVE Updates: In 10 years, Sensex has gained an average of 0.27% on Budget days. In 2020, Sensex dropped by 2.43% while in 2021, Sensex finished with 5% gain.

Budget 2024 LIVE Updates: Finance minister Nirmala Sitharaman will present the Union Budget for the 7th consecutive time- surpassing the record of six budgets presented by former finance minister Morarji Desai. Morarji Desai served as finance minister twice -- from 1958 to 1963 and then from 1967 to 1970.

Budget 2024 LIVE Updates: Moody's Analytics suggested that there could be something good awaiting in the Budget for India's middle class.

Budget 2024 LIVE Updates: The Economic Survey noted that capital markets are increasingly playing a significant role in India's growth trajectory. Praising the stock markets, the Economic Survey said that the indices have shown resilience against global geopolitical and economic disruptions.

Budget 2024 LIVE Updates: The rupee will open at flat from 83.6575 in the previous session when it fell to an all-time low of 83.6775.

MoS Finance Pankaj Chaudhary arrived at North Block and said, "This budget is based on PM Modi's mantra of Sabka Saath Sabka Vikas."

Budget 2024 LIVE Updates: Chief Economic Advisor V Anantha Nageswaran arrives at Ministry of Finance ahead of Budget presentation.

Budget 2024 LIVE Updates: Union Finance Minister Nirmala Sitharaman will also present the Budget of the Union Territory of Jammu and Kashmir. After Article 370 was repealed, this is the Jammu and Kashmir's fifth budget.

Budget 2024 LIVE Updates: Stock Markets closed lower on muted earnings on July 22 with benchmark Sensex dropping 102 points ahead of Budget presentation today.

Budget 2024 LIVE Updates: Finance minister Nirmala Sitharaman delivered the longest Budget speech that lasted for two hours and forty minutes in 2020.

Budget 2024 Live Updates: These are the major highlights from the Economic Survey which was tabled by Nirmala Sitharaman yesterday:

1. Economic growth at 6.5-7% in FY25 vs 8.2% in 2023-24
2. Capital markets becoming prominent in India's growth story
3. AI casts a huge pall of uncertainty over the impact on workers
4. Increased FDI inflows from China can help India enhance participation in global supply chain
5. Remittances to India to grow at 3.7% to USD 124 billion in 2024

Budget 2024 Live Updates: Finance Minister Nirmala Sitharaman reaches North Block ahead of presenting Budget 2024.

Budget 2024 Live Updates: Citi said that the government is expected to allocate more funds for rural schemes to stimulate consumption. These will benefit consumer goods makers like Hindustan Unilever and two-wheeler manufacturers such as TVS Motor and Hero MotoCorp, as per Citi.

Budget 2024 Live Updates: Nirmala Sitharaman will place copies of the following documents on the table as per subsection (1) of Section 3 of the Fiscal Responsibility and Budget Management Act, 2003:

1. Medium-term Fiscal Policy cum Fiscal Policy Strategy Statement
2. Macro-Economic Framework Statement

Budget 2024 Live Updates: Economic Survey noted that capital expenditure on Railways has surged by 77% over the last five years. Capital expenditure rose from ₹1.48 lakh crore in the fiscal year 2019-20 to ₹2.62 lakh crore in 2023-24, the Survey noted.

Budget 2024 Live Updates: Finance minister Nirmala Sitharaman is set to present the Union Budget 2024 in Parliament today. This will be her seventh consecutive budget as she crosses the record of late Moraji Desai who presented six consecutive budgets.

When is Nirmala Sitharaman's speech? Nirmala Sitharaman will present the Budget at 11am today.

It is the first Budget under the Modi 3.0 government.

The Budget is being presented today as owing to the Lok Sabha elections, the interim budget was tabled on February 1.

Budget 2024 Live Updates: Indian shares will likely open little changed today ahead of the Budget. The GIFT Nifty was at 24,550 points as of 7:19 am suggesting that the NSE Nifty 50 will open near its Monday's close of 24,509.25.

Budget 2024 Live Updates: Finance minister Nirmala Sitharaman will visit the Ministry of Finance's North Block headquarters today ahead of Budget presentation. There she will meet her ministry's secretaries and then accompany them to the President's mansion to obtain authorization for the Budget.

Budget 2024 Live Updates: Additional allocations likely in the Budget could include PM Awaas Yojana, Jan Dhan Yojana, Jal Jeevan Mission, MNREGA and Atal Pension Yojana.

Budget 2024 Live Updates: No, BJP junked its ally JD (U)'s demand for a special status category for Bihar, Minister of State for Finance Pankaj Chaudhary. Bihar cannot be accorded special status in accordance with the 2012 Inter-Ministerial Group (IMG) report, he said.

Budget 2024 Live Updates: Vedant Hamirwasia, Director, ODA Class, said, “We are hopeful that the finance ministry will increase the budget allocation beyond the current 13% to fund more initiatives in the education sector. Expectations include boosting digital infrastructure to facilitate skill development programs, financial aid and tax relief, including a reduction in GST from the existing 18% to make online education more affordable.”

Budget 2024 Live Updates: Pramod Kathuria, founder and CEO of Easiloan, said, “The fintech industry expects a well-defined strategy to strengthen digital infrastructure and promote digital payments for deeper financial inclusion. It is also expecting policy implementation around regulations and licensing processes.”

Budget 2024 Live Updates: Fisdom Research expects more support towards the modernisation of armed forces in the Budget. As Nirmala Sitharaman presents the Budget 2024 today, you must look out for these stocks as per Fisdom Research: Bharat Electronics Ltd. (BEL), Hindustan Aeronautics Ltd. (HAL), Bharat Dynamics Ltd. (BDL)

Budget 2024 Live Updates: Murali Krishna, V Principal, Spyre VC, said, “We advocate for increased policy intervention in the form of tax incentives to promote technology adoption within government-led infrastructure investments. Furthermore, we propose the establishment of a formal channel to facilitate collaboration between startups and real estate developers, incentivizing the adoption of technologies from Indian startups over those from global companies.”

Budget 2024 Live Updates: Nirmala Sitharaman's Budget may propose a new tax system with updated income tax slabs. There could be more changes to the capital gains tax structure.

Budget 2024 Live Updates: The Reserve Bank of India gave government a $25 billion surplus transfer in May. This may be used by the government for tax cuts and support for rural areas.

Budget 2024 Live Updates: The Economic Survey outlined various reforms and measures including: skill gap, employment, easing regulatory requirements, and financing bottlenecks for micro, small, and medium enterprises.

Budget 2024 Live Updates: Stock market watchers expect a good Railway budget from Nirmala Sitharaman owing to which shares like Rail Vikas Nigam Ltd (RVNL), Titagarh Rail Systems Ltd, Ircon International Ltd, Indian Railway Finance Corporation Ltd (IRFC), RITES Ltd, Indian Railway Catering & Tourism Corporation Ltd (IRCTC), Railtel Corporation of India Ltd and Jupiter Wagons Ltd.

Budget 2024 Live Updates: In the Interim Budget, the government's gross borrowing for the current financial year is projected at ₹14.13 lakh crore. Stock market investors will pay attention to government borrowing as the Budget comes after higher-than-expected dividends from Reserve Bank of India (RBI) and financial institutions.

Budget 2024 Live Updates: Nirmala Sitharaman may bring changes to the income tax slabs to provide relief to the middle class with the aim to increase disposable income, boost consumption and economic growth in the country.

Budget 2024 Live Updates: Here's a look at tax slabs in the new tax regime:

Up to 2.5 lakh: Exempted

More than 2.5 lakh up to 3 lakh: Exempted

More than 3 lakh but less than 5 lakh: 5%

More than 5 lakh to 6 lakh: 5%

More than 6 lakh to 9 lakh: 10%

More than 9 lakh to 10 lakh: 15%

More than 10 lakh to 12 lakh: 15%

More than 12 lakh up to 15 lakh: 20%

Above 15 lakh: 30%

Budget 2024 Live Updates: In 2017-18's Budget Arun Jaitley merged the Union Budget and Railway Budget presentations, ending a tradition of 92 years.

Budget 2024 Live Updates: Elara Securities said that if the Budget focuses on fiscal consolidation, higher capex allocation, increased spending on social and rural schemes along with possible relaxation of income tax rates, it could life the mood of the stock market.

Budget 2024 Live Updates: P Chidambaram, in his Budget presentation of 1997 when he was the Finance minister, reduced personal income tax and corporate tax. The Budget was labelled "Dream Budget" by experts as it introduced significant cuts in both personal and corporate taxes. In the Budget, the highest personal income tax rate was reduced from 40 per cent to 30 per cent.

Ajay Kela, president & CEO, Wadhwani Foundation, said, “We are hopeful that the upcoming budget will continue to bolster the vibrant startup ecosystem in India. By increasing funding, simplifying regulations, and fostering innovation, the government can empower entrepreneurs to drive economic growth and create millions of jobs. We anticipate new initiatives that will provide startups with the resources they need to scale and thrive in a competitive global market.”

Budget 2024 Live Updates: Goods and Services Tax (GST) collection in 2024-25 is estimated to rise to ₹10.68 lakh crore. The tax revenue figures will have to be watched out for in Nirmala Sitharaman's speech today.

Budget 2024 Live Updates: Prakash Kumar, CEO, WGDT, Wadhwani Foundation said, “This year, we hope to see further support for technologies such as AI and machine learning, which are crucial for enhancing public services and driving economic growth. Government backing will be instrumental in fostering innovation and ensuring that digital advancements benefit all sectors of society. Additionally, we anticipate initiatives that will bridge the digital divide, ensuring that the benefits of technology reach every corner of the country.”

Budget 2024 Live Updates: Government's planned capital expenditure for this fiscal year is budgeted at ₹11.1 lakh crore- higher than ₹9.5 lakh crore in the last fiscal year. Experts are going to keenly look at the capital expenditure that Nirmala Sitharaman announces as the Modi government has been pushing infrastructure creation and also incentivizing states to step up capex.

Budget 2024 Live Updates: The Union Budget of 1991 presented by Dr Manmohan Singh addressed the severe economic crisis that the country was facing at the time. At the time Manmohan Singh revamped the import-export policy of the country.

Budget 2024 Live Updates: Ajay Kela, president & CEO, Wadhwani Foundation said, “We look forward to the government's emphasis on education and skilling in the upcoming budget. By investing in skill development and modernizing the education system, we can equip the youth with the necessary tools to succeed in a rapidly changing job market. Enhanced vocational training programs and digital learning platforms will be crucial in building a future-ready workforce capable of meeting the demands of the new economy.”

Budget 2024 Live Updates: Fiscal deficit is the difference between government expenditure and income. For the current fiscal, the fiscal deficit is 5.1 per cent as projected in the Interim Budget in February. Nirmala Sitharaman is expected to provide better-than-earlier projection in her Budget speech today.

Budget 2024 Live Updates: Here are the various slabs under the old tax regime:

Up to 2.5 lakh: Exempted

More than 2.5 lakh up to 3 lakh: 5%

More than 3 lakh up to 5 lakh: 5%

More than 5 lakh to 6 lakh: 20%

More than 6 lakh to 9 lakh: 20%

More than 9 lakh to 10 lakh: 20%

More than 10 lakh to 12 lakh: 30%

More than 12 lakh up to 15 lakh: 30%

Above 15 lakh: 30%

Budget 2024 Live Updates: Chander Shekhar Sibal, Sr. Vice President & HOD, Healthcare Business, FUJIFILM India, said, “A key area of focus should be providing tax benefits for research and development in healthcare is crucial. It would incentivize innovation and foster the development of cutting-edge diagnostic and therapeutic solutions. Public-private partnerships can further enhance this ecosystem by combining resources and expertise from both sectors, leading to improved healthcare delivery and infrastructure.”

Budget 2024 Live Updates: TT Krishnamachari's Budget 1957-58 introduced tax reforms, including wealth tax which was levied on the total value of personal assets. This marked a major shift in India's tax policy. Wealth tax was abolished in 2015.

Budget 2024 Live Updates: Indian Railways was allocated ₹2.40 lakh crore in Union Budget 2023-2024 and ₹2.52 lakh crore in Interim Budget 2024-2025. Today's Budget may focus on safety, new coaches, new trains and new corridors, experts have said.

Kaushik Das, chief economist for India at Deutsche Bank AG, said, “Tax cuts for middle-income households are highly likely, along with increased expenditure allocation for marginal and rural populations.” Catch all updates on Income Tax changes here

Budget 2024 Live Updates: The Indian Chamber of Commerce (ICC) suggested that the government must rationalise customs duties in various sectors. These include steel, solar battery, aluminum, and lithium cells in a bid to boost domestic manufacturing, it said. ICC President Ameya Prabhu said, “There is a need for rationalization of customs duty in these specific sectors in a holistic manner. Huge potential is there to boost domestic manufacturing and make India a global hub for manufacturing.”

Budget 2024 Live Updates: Nilaya Varma, co-founder and CEO at Primus Partners, said, “The recent economic survey shows a robust 8.2% growth rate, bolstered by the political stability following Prime Minister Narendra Modi's re-election. However, it highlights a significant issue: the lack of timely and detailed job creation data, which hampers accurate job market analysis. Despite this, job growth in trade and services underscores the need for a sustainable employment market and a shift from agriculture to manufacturing.”

Budget 2024 Live Updates: Prime Minister Narendra Modi said: “It is a matter of pride that after 60 years, a government has come to power for the third time and will present the first Budget for the third time. I have been giving guarantees to the people of the country and our mission is to bring this to the ground. This Budget is an important budget for Amrit Kaal. Today's budget will decide the direction for the next 5 years of our term. This budget will also become a strong foundation of our dream of Viksit Bharat."

Budget 2024 Live Updates: Monica Malhotra Kandhari, Managing Director of AASOKA, said, “We hope that the forthcoming Union Budget under the Modi 3.0 government will provide increased funding and support innovative educational solutions. By investing in technology-driven and blended learning models, we can transform the education landscape across India. The National Education Policy 2020 emphasizes making learning interactive, engaging, and meaningful, and additional budget allocations can help bring this vision statement to life."

Budget 2024 Live Updates: The Railway Budget will be presented by Finance minister Nirmala Sitharaman along with the Union Budget. Key announcements in the Budget with respect to Railways may include: increasing the number of coaches, upgrading existing trains and new Vande Bharat categories.

Budget 2024 Live Updates: The government is likely to make changes in capital gains tax in the Union Budget 2024, which could have significant implications for the stock market. Read them here

Budget 2024 Live Updates: The Monsoon Session of the Parliament began on July 22 with Finance minister Nirmala Sitharaman tabling the Economic Survey 2024. The Monsoon Session will have 16 sittings in 22 days and is expected to conclude on August 12.

Budget 2024 Live Updates: Amit Jaipuria, founder and CEO at Postcard Travel Club said, “The government's plan to prioritize sustainable tourism for revenue and employment in its third term is a promising development for the travel sector. Policy incentives aimed at making tourism more sustainable should be implemented, and storytelling to highlight regions and cultures should be further promoted.”

Budget 2024 Live Updates: In the Interim Budget earlier this year, the government proposed to increase capital expenditure outlay by 11.1 per cent to ₹11.11 lakh crore in FY25. Fiscal deficit for the year was pegged at 5.1 per cent of GDP, compared to 5.9 per cent in FY24. In the Interim Budget, Finance minister Nirmala Sitharaman said that the government aims to bring fiscal deficit below 4.5 per cent of GDP by FY26.

Budget 2024 Live Updates: Anil Somani, the Chairman of FOSTIIMA Business School- Delhi said, “We anticipate the government to consider introducing incentives like tax breaks on education loans or scholarships for high-achieving students. This will not only make high-quality education more accessible to people but will also position India as a preferred destination for higher education. Additionally, we expect the budget to focus on providing grants and subsidies which will majorly focus on diploma students and high-school dropouts."

Budget 2024 Live Updates: Brokerage firm Anand Rathi said, “The approach of the budget is more likely to be to stimulate job creation through public investment in infrastructure, improving conditions of doing business, policy support for industry, reforming education and training systems to enhance job skills, and easier access to finance for entrepreneurs.”

JM Financial said the government is likely to announce an increase in infrastructure capital outlay which will affect stocks like KNR Construction, PNC Infratech , RITES, Ahluwalia Contracts.

Budget 2024 Live Updates: S. Sunil Kumar, president of Henkel India, said, The government has played a crucial role through a series of strategic initiatives and policies, such as Make in India and PLI scheme. To accelerate it further, strategic focus areas suggestions that can be beneficial: making raw materials available at scale locally, competitive tax structures, development of industrial corridors, and investments in research and development. Continued emphasis on improving the ease of doing business, streamlining regulations, and ensuring a stable policy environment will be crucial for attracting long-term investments in the industry."

Budget 2024 Live Updates: Today's Budget presentation will be Nirmala Sitharaman's seventh Union Budget as she becomes the first Finance Minister to present seven union budgets in a row. Morarji Desai held this record previously by presenting six consecutive budgets.

Budget 2024 Live Updates: Chief Economic Advisor V Anantha Nageswaran said, “The Indian economy is on a strong wicket and stable footing, demonstrating resilience in the face of geopolitical challenges. The Indian economy has consolidated its post-Covid recovery with policymakers – fiscal and monetary – ensuring economic and financial stability. Nonetheless, change is the only constant for a country with high growth aspirations. For the recovery to be sustained, there has to be heavy lifting on the domestic front because the environment has become extraordinarily difficult to reach agreements on key global issues such as trade, investment and climate.”

Budget 2024 Live Updates: Here's how you can watch the live streaming of Union Budget 2024: 1. You can watch it on Doordarshan or Sansad TV. 2. You can also access live stream on Indian government’s official website of Budget (https://www.indiabudget.gov.in/) or the Ministry of Finance website (finmin.nic.in).

Follow Hindustan Times' LIVE updates for more action on the Union Budget 2024

Budget 2024 Live Updates: The Union Budget will be presented today at 11am by Finance minister Nirmala Sitharaman in the Lok Sabha. Owing to Lok Sabha elections held this year, an interim budget was presented earlier this year in the February ahead of the polls. Today's Budget will mark the first budget by the BJP-led NDA government since its reelection.

Budget 2024 Live Updates: The Economic Survey 2023-24 projected a real GDP growth of 6.5 to 7 per cent and said that for the economic recovery to be sustained, there has to be “heavy lifting on the domestic front as the “environment has become extraordinarily difficult to reach agreements on key global issues such as trade, investment and climate”.