Budget 2024 Live Updates: Finance Minister Nirmala Sitharaman is set to present the Union Budget 2024-25 on Tuesday, July 23. This will be the first budget of Prime Minister Narendra Modi’s third term and will be presented in Parliament at 11 am. The Budget is being presented in the Monsoon session of Parliament this year as in February, only an Interim Budget was presented owing to the Lok Sabha elections. The Monsoon session, which began on July 22, will have 19 sittings till August 12.
This will be Sitharaman’s seventh consecutive Budget as finance minister. With this, she will surpass the record set by former Prime Minister Morarji Desai who presented five annual budgets and one interim budget as finance minister. Ahead of the Budget presentation, the Finance Minister tabled the Economic Survey 2023-24 in both Houses of Parliament on July 22, 2024, giving an overview of the economy’s performance.
Union Budget 2024: When To Watch
The Union Budget 2024 will be presented at 11:00 am on July 23, 2024.
Union Budget 2024: Where To Watch
The presentation of the Budget will be live-streamed on various platforms, including Sansad TV’s YouTube channel. To watch the in-depth analysis of the Finance Minister’s address, viewers can log in to ABP’s news channels at 11 am.
The LIVE budget proceeding will also be available on ABP’s website. The ABP’s LIVE blog and YouTube channel will also broadcast the Budget 2024 live on July 23.
Highlights of Sitharaman’s Last 5 Budget
Budget 2023
In the Budget 2023, Sitharam presented the vision of “Amrit Kaal”, which centered on opportunities for citizens, with a focus on youth, growth, job creation, and a strong macro-economic environment. The Minister proposed spending of Rs 45,03,097 crore, with revenue expenditure estimated at Rs 35,02,136 crore. She also increased the income limit for income tax rebate from Rs 5 lakh to Rs 7 lakh in the new regime. The Proposed budget for the financial year was Rs 45 trillion
Budget 2022
In the 2022 budget, the government’s focus was on the green economy and Atma Nirbhar Bharat. It was Sitharaman’s shortest Budget speech with no changes in income tax slabs or exemptions. The budget proposed to increase the Productivity Linked Incentive in 14 sectors to achieve the vision of AtmacNirbhar Bharat. It also proposed for a 30 per cent tax on income from transactions in cryptocurrencies and 1 per cent TDS on such transactions above a certain threshold. The proposed budget for the financial year was Rs 39.44 trillion
Budget 2021
In the 2021 budget, the government’s focus was on post-pandemic economic recovery, by increasing the spending on healthcare and infrastructure. Sitharaman introduced the Agriculture Infrastructure Fund (AIF) and voluntary vehicle scrappage policy in the budget. The proposed budget for the financial year was Rs 34.83 trillion.
Budget 2020
In 2020, the government was navigating the challenges of the Covid-19 pandemic, and the budget was aimed at boosting economic growth. The budget focused on healthcare, agriculture, and infrastructure development. The proposed budget for the financial year was Rs 30.42 trillion.
Budget 2019
In 2019, Sitharam presented a 10-point vision for the decade, with a focus on economic development, infrastructure, and social justice. The Minister proposed a reduction of the corporation tax rate for existing companies to boost economic growth and also introduced schemes like Pradhan Mantri Kisan Samman Nidhi and Pradhan Mantri Laghu Vyapari Maan-dhan. The proposed budget for the financial year was Rs 27.86 trillion.
