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Union Finance Minister Nirmala Sitharaman on July 23 announced several schemes for Bihar in her Budget 2024 speech. The schemes are a part of a larger plan titled “Purvodaya”, which covers the all-round development of eastern States including Bihar, Jharkhand, West Bengal, Odisha, and Andhra Pradesh. The government will support the development of an industrial…
Watch: Budget 2024 | What is in store for West Bengal? The Chief Minister raised questions on Centre’s proposal to provide flood assistance to neighbouring Sikkim. In her Budget speech, Ms. Sitharaman referred to devastating flash floods and landslides that wreaked havoc in Sikkim and added that the government will provide assistance to the State….
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Watch: Union Budget 2024-25 | Key Highlights Union Finance Minister Nirmala Sitharman on July 23 announced her seventh consecutive budget. The presentation on July 23 was the first Budget by the BJP-led NDA government since it was re-elected in June. Ms. Sitharaman said that the Budget will focus on employment, skilling, MSME and middle class….
Watch: Budget 2024: What’s in it for the insurance sector? Two key measures were announced for the insurance sector in the budget. One was reducing the TDS or tax deducted at source on payouts (payments by the life insurer concerned) in respect of life insurance policies from 5% to 2%. This amendment will come into…
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Watch: Budget 2024 | What’s in it for health sector?? The Union government has continued its emphasis on tackling non-communicable diseases and allocating funds for research in the healthcare sector, with Finance Minister Nirmala Sitharaman on July 23 announcing customs duty exemptions on three cancer treatment drugs — Trastuzumab Deruxtecan, Osimertinib, and Durvalumab. The total…
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Watch: Budget 2024 | What’s in it for energy sector? Finance Minister Nirmala Sitharaman’s Budget speech has for the first time signalled that polluting industries, such as iron, steel, and aluminium will have to conform to emission targets. Currently, the industry in India has no curbs on emissions instead of carbon credits but is incentivised…
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Watch: Budget 2024: What’s in it for defence sector? The allocation to the Ministry of Defence for FY25 is higher by approximately Rs 1 lakh crore (18.43 per cent) than the allocation for FY23 and 4.79 per cent more than the allocation of FY24, the MoD stated. While maintaining the allocation made to the Ministry…
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Watch: Budget 2024 | What’s in it for women and children? Finance Nirmala Sitharaman said that the Union Budget 2024-25 carried an allocation of more than Rs 3 lakh crore for schemes benefitting women and girls and promoting women-led development, during her presentation of the Budget in the Lok Sabha on July 23. To encourage…
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Watch: Budget 2024 | What’s in it for MSMEs and manufacturing sector? The MSMEs and labour-intensive manufacturing sector have a reason to cheer as the budget presented by the Finance Minister on Tuesday has a special focus on these units. The sector is going through a crisis phase for multiple reasons. The export market is…
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Watch: Budget 2024: What’s in it for agriculture? Union Finance Minister Nirmala Sitharaman said she has allocated about ₹ 1.50 lakh crore to the agriculture sector. Almost all major schemes for farmers have seen an increase in allocation compared to her previous budgets. However, the fertilisers subsidy is down by about ₹1 lakh crore when…