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

Team Udayavani, Jul 23, 2024, 11:08 AM IST

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

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

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

Watch the LIVE telecast here:

Speech Updates:

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