Updated: July 23, 2024 7:47 PM IST 
Budget 2024 Live Updates: Finance Minister Nirmala Sitharaman will present the Union Budget 2024 on Tuesday, July 23. This will be the Modi government’s first budget after coming to power for the third consecutive time at the centre. Sitharaman tabled the Economic Survey of the financial year 2024 in the Lok Sabha on Monday, July 22, a day before the Union Budget is presented in Parliament. This was the second Economic Survey authored by Chief Economic Adviser V Anantha Nageswaran. Lok Sabha and Rajya Sabha are each likely to have a 20-hour discussion on the Union budget, which Finance Minister Nirmala Sitharaman will present on Tuesday, with the Lower House expected to have separate debates covering ministries of railways, education, health, MSME and food processing, sources said.
“Finance Minister Nirmala Sitharaman has announced a monumental investment of ₹10 lakh crore to address the housing needs of 1 crore urban poor and middle-class families. This initiative marks a significant stride towards making urban housing more affordable for the “missing middle” in India. The local development authorities should take the lead in making the investments predictable and adhering to timelines. Policy paralysis especially, on participatory development like Land Pooling and Green Development Area needs to be gazetted at the earliest. A true PPP (Private- Public partnership) mode of development needs to be ushered in at the state / city level where authorities have to play the role of a facilitator and regulator; while predictable supply of dwelling units can be created by the private sector, across all price points.
Integrated development has to be the norm where infrastructure should precede real estate activity. Government service providing agencies can create physical and social infra while the private sector can create residential, commercial and recreational spaces”: Ramesh Menon, Founder Director, Delhi Consortiums
“The budget’s focus on healthcare is a step in the right direction, but I was hoping for more targeted allocations towards preventive care and public health initiatives. As a dermatologist and aesthetic physician, I see firsthand the impact of skin cancer and other skin-related diseases on individuals and families. Increased funding for awareness campaigns, early detection programs, and research into skin health would have been a welcome move. Nevertheless, I appreciate the government’s commitment to healthcare and look forward to seeing the positive impact of these initiatives on patient care,” Dr. Ajay Rana, an internationally renowned Dermatologist, Surgeon & Aesthetic Physician
We welcome the changes made in the budget by our Finance Minister Nirmala Sitharaman, though the FAME subsidy has been reduced overall, it has been extended beyond 2W and 3W and as E-Tractor makers, we are hopeful of benefitting from it. Also, the PLI incentives have been increased and would encourage more investments in the setup and with the import duties being reduces on some of the raw material used in EVs, like Lithium, it will help build a foundation for the EV industry in India in true sense: AutoNxt Automation, Co-Founder and COO, Pankaj Goyal
Union Minister Ashwini Vaishnaw says, “MSME sector plays a vital role in the economy of the country…Several announcements have been made for this sector in this budget will show positive impact for a long term…”
TMC MP Saugata Roy says, “…I call this a tinkering budget…Major problems – unemployment at 9.2% and inflation at 5% -have not been tackled at all. States have not been given their due share. Only Andhra Pradesh and Bihar benefitted. It’s not a good budget at all. They have invested everything in infrastructure, that will take a long time to take shape. So, it’s not a wise budget…”
Union Budget 2024: “We wanted to simplify the approach to taxation, also for the capital gains. Second, if anything, the average taxation actual has come down. When we say it is 12.5 per cent, because we have worked out for each of the different classes… But the point is that we have brought it down from below average to 12.5 per cent, which is the lowest if you look at several years, encourages investment in the market,” says Union Finance Minister Nirmala Sitharaman (
) at a press conference.
Post Budget 2024: Prime Minister Narendra Modi says “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…”
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“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,” says PM Modi on Union Budget 2024
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