Budget 2024: 'Governance with care, conviction and confidence,' says Nirmala Sitharaman

On Interim budget, Union Railway Minister Ashwini Vaishnaw said, "Indian Railway is a medium of transport for the poor and middle class and an important structure of our economy. Ten years ago this sector was completely ignored and the investment for capacity building was not provided. PM Modi in these ten years has focused on the railway...26,000 km of new tracks were added...PM Modi also focused on new technology. The Vande Bharat train sleeper version, Vande Metro & two new Amrit Bharat trains will soon be functioning..."

On the Interim Budget, Bihar CM Nitish Kumar said, "The budget is positive and should be welcomed..."

On the India-Middle East-Europe Economic Corridor, Union Finance Minister Nirmala Sitharaman said, "Well, it's been announced and we are taking it forward. Yes, there is a significant disturbance in the Red Sea area and the Middle East. But this is a project which has long-term implications for the entire region, region up to Europe because it also includes Europe. So, yes, we will be taking this project forward. We will be consulting and taking it in all its contours."

On Interim Union Budget 2024, Union Minister Piyush Goyal said, "Finance Minister Sitaramanji, in her interim budget, has been able to bring out a confident India story. A story of resilience despite severe geopolitical tensions. A story of growth and forward movement which will make India a developed nation by 2047. A story which talks about every section of society. Be it our youth, farmers, poor, or women. Every section has received due attention. It's very progressive, very forward-looking and lays the foundation of a prosperous India..."

Union Finance Minister Nirmala Sitharaman said, "The budget deficit, fiscal deficit 5.8% which is much lower than the 5.9... Similarly, for the 2024-25 budget, we've given 5.1 as the fiscal deficit. So clearly indicating that we are on track to meet the glide path which was set in 2021-22 and that we are well on track to meet the 4.5% fiscal deficit on or below 4.5 even by FY 26..."

Union Finance Minister Nirmala Sitharaman said, "It is an interim budget presented before just the elections. GDP- Governance, development and performance. On governance, this budget speaks from a position where we've delivered on development. We managed the economy with correct intentions, correct policies and correct decisions so it's governance with care..D stands for people living better, earning better and having high aspirations for the future and if I move to the 'P' the performance three consecutive years of 7% growth faster-growing economy in G20 all parts of the country participating in the growth."

Finance Minister Nirmala Sitharaman addressed the post-Budget press Conference highlighting key factors of the budget 2024.

"In the current geopolitical scenario and with the twin objective of promoting self-reliance and exports, the Defence Budget has touched Rs 6.21 lakh crore in the Financial Year 2024-25. This comes out to be 13.04% of the total Union Budget, which was presented by Finance Minister Nirmala Sitharaman," said Ministry of Defence in a statement.

On Interim Budget 2024-25, Delhi Minister Atishi said, "The budget proves that this is a 'jumla' government. PM Modi had said in 2014 that he would provide 2 crore jobs every year but not even one crore people got jobs. Today they have given a new 'jumla' that they will give 55 lakh jobs... No step has been taken to reduce the inflation..."

On Interim Budget 2024-25, Congress leader Supriya Shrinate said, "The government is still in denial mode and is not ready to accept the problems. There is nothing in this budget for common people, employment, agriculture, women... Nirmala Sitharaman said that income has increased by 50% but government data says that real income has decreased by 25%..."

BJP leader Ravi Shankar Prasad on Union Budget 2024 | "This is an effective and historic Budget. Despite being an Interim Budget, it mentions future achievements."

BJP National President JP Nadda on interim Budget | "This far-sighted budget lays the foundation of a developed India. The housing scheme for the middle class announced in this budget is a revolutionary step...We don't just give the slogan of 'Garibi Hatao' but alleviate poverty. The target for Lakhpati didi has been raised to 3 crores. MSME sector to be made global. The tourism and renewable energy sectors have been focused upon in this budget..."

Congress leader Sachin Pilot on interim Budget | "The Finance Minister's speech sounded like an election speech. The President's address was also used as political speech."

"In the language of economists, in a way it's a sweet spot. This Budget will create countless new employment opportunities for the youth along with the creation of modern infrastructure of the 21st century in India, PM Modi said.

"Where was the budget? Nothing new was announced," said Danish Ali on Modi government's interim budget ahead of elections.

This interim budget is inclusive and innovative. It has confidence of continuity. It will empower all 4 pillars of Viksit Bharat- Yuva, Garib, Mahila and Kisan. This Budget gives the guarantee of making India a developed nation by 2047, said PM Modi.

Union Minister Nitin Gadkari on Interim Budget 2024-25 | "Finance Minister's Budget is aimed to strengthen India's economic sector, in line with PM Modi's resolve to make India the third largest economy of the world... This is a budget to speed up country's development and increase employment..."

"We had demanded vaccination for prevention of cervical cancer. U-WIN portal also strengthened through this budget. Extending health cover under Ayushman Bharat to ASHA and Anganwadi workers and helpers is a good step. For increasing the number of medical colleges, a committee will be set up for this purpose," MoS Health Dr. Bharati Pravin Pawar on interim Budget.

Union Minister Dharmendra Pradhan on Interim Budget 2024-25 | "... This budget will prove to be a stepping stone towards a 'Viksit Bharat'. The biggest announcement of this budget is the 'Jai Anusandhan' scheme for which Rs 1 lakh crore has been announced as a corpus fund in today's budget. Whichever private entity would opt for a loan, they will get an interest-free loan for 50 years. This will directly benefit India's new generation... National Education Policy has been implemented. Innovation has taken the form of a revolution... PM Shri has been discussed. New IITs and IIMs have been discussed. Skilling and up-skilling of 1.4 crore youth of the country will be done as part of Skill India... Three new railway corridors have been talked about. This simply means more employment of skilled manpower and the lifestyle of people will improve. To sum up, this budget is well-balanced between welfare and wealth creation."

"FDI is 'First Develop India'... FDI inflow during 2014 to 2023 was Rs 596 billion US dollars, marking a golden era. This was twice the FDI inflow between 2005 to 2014. For sustained FDI, we are negotiating bilateral investment treaties with foreign partners," Sitharaman said.

"In the full budget in July, our Government will present a detailed roadmap for our pursuit of Viksit Bharat," said Finance Minister Nirmala Sitharaman.

The government has not made any changes in the income tax slabs. Sitharaman said she proposes to retain the same tax rates for direct and indirect taxes including import duties.

83 lakh SHGs with nine crore women are transforming rural socio-economic landscape with empowerment and self-reliance. Their success has assisted nearly 1 crore women to become lakhpati didi already. Buoyed by the success, it has been decided to enhance the target of lakhpati didi from 2 crore to 3 crore, Finance Minister informed.

Three major Railway economic corridors programmes will be implemented. These are energy, mineral and cement corridor; port connectivity corridors and high-traffic density corridors. The projects have been identified under the PM Gati Shakti for enabling multi-modal connectivity. They will improve logistics efficiency and reduce cost, says Finance Minister Nirmala Sitharaman.

"To address fervour for domestic tourism, projects for port connectivity, tourism infra and amenities will be taken on our islands including Lakshadweep," says Nirmala Sitharaman.

"A new scheme will be launched for strengthening deep-tech technologies for defence purposes and expediting self-reliance," says Finance Minister Nirmala Sitharaman.

Sitharaman says 43 crore loans aggregating to Rs 22.5 lakh crore extended under PM Mudra Yojana.

"BJP government, based on its stupendous work, will be blessed again by people with resounding mandate," Nirmala Sitharaman said as she presents interim Budget 2024.

"A comprehensive programme for supporting dairy farmers will be formulated. Efforts are already on control foot and mouth disease. India is the world's largest milk producer, but with a low productivity of milch animals," says Union Finance Minister Nirmala Sitharaman.

"Goods and Services Tax (GST) has enabled one nation, one market, one tax. Tax reforms have led to the deepening and widening of the tax base. Strengthening of the financial sector has helped in making savings, credit and investments more efficient," says Union Finance Minister Nirmala Sitharaman.

For further growth of agriculture sector, the government to further promote public and private investment in post-harvest activities, Sitharaman said.

Finance Minister Nirmala Sitharaman informed that 83 lakh self-help groups with 9 crore women are transforming the rural socio-economic landscape.

"The economy is doing well; people are living better and earning better with greater aspirations for the future. Average real income of people has increased by 50 per cent, inflation is moderate," says Union Finance Minister Nirmala Sitharaman.

The economy is doing well. Inflation is moderate, says FM Sitharaman during interim Budget presentation.

Finance Minister Nirmala Sitharaman informed that the government is close to achieving its target of three-crore houses under PM Awaas Yojana - Grameen.

"Making triple talaq illegal, reservation of one-third seats for the women in Lok Sabha and state assemblies and giving over 70 per cent houses under PM Awas Yojana in rural areas to women as the sole or joint owner has enhanced their dignity," says Finance Minister Nirmala Sitharaman.

The government is focused on more comprehensive "governance, development, performance", said Finance Minister Nirmala Sitharaman

PM 'Fasal Bima Yojana' gives crop insurance to 4 crore farmers, says Nirmala Sitharaman.

Female enrolment in higher education has gone up by 28 per cent in 10 years, informed Finance Minister Nirmala Sitharaman.

"The Skill India Mission has trained 1.4 crore youth, upskilled and re-skilled 54 lakh youth, and established 3,000 new ITIs. A large number of institutional higher learning, namely 7 IITs, 16 IIITs, 7 IIMs, 15 AIIMS and 390 Universities have been set up," Sitharaman said.

"Social justice: Our government is working with an approach to development that is all-round, all-pervasive and all-inclusive," said Finance Minister Nirmala Sitharaman.

With a whole-of-nation approach of 'Sabka Prayaas', the country overcame the challenges of the once-in-a-century pandemic, took long strides towards 'Aatmanirbhar Bharat' and laid solid foundations towards the Amrit Kaal, the Finance Minister said.

Minimum Support Prices for the produce of 'annadata' are periodically increased appropriately and the provision of basic necessities has enhanced real income in the rural areas, Finance Minister Nirmala Sitharaman said.

Our government is working with approach to development that is all-inclusive, says Finance Minister Nirmala Sitharaman.

Our government has doubled down on its responsibility to build a prosperous country, Finance Minister Nirmala Sitharaman said.

The Indian economy has witnessed a profound positive transformation in the last 10 years, says Finance Minister Nirmala Sitharaman.

The government has strengthened the mantra of 'Sabka Saath, Sabka Vikas aur Sabka Vishwaas', said Finance Minister Nirmala Sitharaman as she presents interim Budget 2024.

"...Our young country has high aspirations, pride in its present and hope and confidence for a bright future. We expect that our govt based on its stupendous work will be blessed again by the people with a resounding mandate," says FM Sitharaman.

Union Finance Minister Nirmala Sitharaman presents the last budget of Modi government ahead of Lok Sabha elections, due in April-May.

The Union Cabinet has approved the interim Budget ahead of its presentation in the Parliament by Nirmala Sitharaman.

Ahead of the presentation of the Union Interim Budget, Pradeep Kumar Aggarwal, Founder & Chairman, Signature Global (India) Limited said, "If we talk about the real estate industry, it is looking like a wow. In the last 2-3 years, real estate industry has seen a new chapter, it has seen a jump. There is a new ray of hope for people who were struggling for houses in the last 10 years. I have a lot of expectations with today's budget as they will have to give some benefits to the real estate industry. If those benefits are received, the dreams of the common man for a house will be realised. I hope that the relief on home loan is restored today. Secondly, 'industry status' for real estate has been pending for a long time now, I think it should be granted. Industry should be thought of like infrastructure because real estate is a part of infrastructure...A Rs 2 Lakh rebate is given on home loan interest, I hope this rebate is raised to Rs 5 Lakhs..."

Union Minister of Finance and Corporate Affairs Nirmala Sitharaman along with Ministers of State Dr Bhagwat Kishanrao Karad and Pankaj Chaudhary and senior officials of the Ministry of Finance called on President Droupadi Murmu at Rashtrapati Bhavan before presenting the Union Budget.

Union Cabinet meets in Parliament, ahead of the presentation of the interim Budget by Nirmala Sitharaman

Finance Minister Nirmala Sitharaman carrying the Budget tablet arrives at Parliament, to present the country's interim Budget

Interim Budget copies arrive in Parliament, Finance Minister Nirmala Sitharaman to present her sixth straight budget today at 11 AM. 

Ahead of the presentation of the Union Interim Budget, Samir Somaiya, President of IMC Chamber Of Commerce And Industry says, "This is an Interim Budget, so there will be some limitations. But I think they will underscore their priorities. I also think that when you look at the demographic dividend that the country has  - we have such a large young population, you need to also skill them if you need them to be ready for the kind of infrastructure, defence, space, agriculture, precision farming and the whole startup infrastructure that they also need to create. So, I think they will continue to build this ecosystem to build a virtuous cycle so that India continues to grow at 6.5% and more."

Ahead of the presentation of the Union Interim Budget, Ajit Mangrulkar, Director General of IMC Chamber Of Commerce And Industry says, "I think infrastructure has to be the key focus. India has been lagging in infrastructure and in the last couple of years we have seen that this government has put in a lot. We have seen a lot of projects which have come to fruition this year itself and any more which are in the pipeline will be implemented. So, I think, that is going to be a constant - infrastructure investment. Because infrastructure creates so many other opportunities, it creates investment, and employment. It develops the area around the infrastructure development. So, I think that's an area we are going to see and it's for the betterment of the country and it's an all-round growth..."

Union Finance Minister Nirmala Sitharaman leaves from the finance ministry with the Budget 'bahi-khata' | Watch

Ahead of the presentation of the Union Interim Budget today, KV Subramanian - Executive Director of the IMF and former Chief Economic Advisor to the Government of India says, "Global has still not completely recovered because inflation resulted due to spending during COVID and to bring that down interest rates have been increased. So, the interest rates have not decreased yet. Contrary to that, if you look at India - inflation is under control here. Policy rates can also come down in the time to come. But of you see overall - fiscal deficit is being brought down, current account deficit is in a good position, inflation is under control too...So, there is no doubt that India has completely overcome the pandemic impact."

"Indian businessmen hope for the strong implementation of the schemes that were launched by the Modi government. We also expect an announcement on policy support so that businessmen can get finance support easily," said CAIT Secretary General Praveen Khandelwal.

Union Finance Minister Nirmala Sitharaman arrives at the finance ministry. She will announce the interim Union Budget 2024 later today.

The budgeted fiscal deficit of 5.9 per cent of the gross domestic product (GDP) for the current fiscal is likely to be achieved, but it is nearly twice the FRBM fiscal deficit to the GDP target of 3 per cent for the central government.

"We don't expect anything great. The Modi government is claiming that India is one of the five largest economies in the world. Already this government has declared its intention, the way it is working, in order to promote the interests of big corporate houses, big business houses," says CPI general secretary D Raja.

The Budget is expected to focus on infrastructure and buck a trend of spending big on new vote-garnering measures.

Modi 2.0 government's last Budget before the general elections is likely to contain a mix of measures for the economy and electorally significant segments like farmers and women.

This is an interim budget, we don’t expect a full-fledged budget. But since it is the last budget (of the current government) before elections, some expectations will be there from all stakeholders. In my view, growth and fiscal consolidation will be a major part of this budget, says former RBI deputy governor Harun Rashid Khan.

Finance Minister Nirmala Sitharaman will present the interim budget today. This will be the last budget of the Modi government's current tenure.