India Budget 2024: Budget is 'inclusive and innovative,' says PM Modi
File photo of Indian Prime Minister Narendra Modi.
Indian Prime Minister Narendra Modi on Thursday (Feb 1) reacted to the interim Budget 2024-2025 presented by Union Finance Minister Nirmala Sitharaman. "This interim Budget is inclusive and innovative. It has confidence in 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," Prime Minister Modi said.
"This budget has a reflection of the young aspirations of a young India. Two important decisions were made within the Budget. For research and innovation, a fund of Rs 1 Lakh Crore has been announced...," he added.
Modi further said that the income tax remission scheme announced in the budget will provide relief to 10 million (1 crore people) from the middle class. "In this budget, important decisions have been taken for the farmers," he added.
FM Sitharaman presents interim Budget 2024-25
&im=FitAndFill=(700,400))
National Handloom Day 2026: From Alia Bhatt to Samantha Ruth Prabhu; Actresses who celebrated India's textile heritage as brides
)
The Royals enter the Doctor Who universe: King Charles and Queen Camilla beam into Commonwealth Games in TARDIS
)
Unitree Robotics targets $9 billion valuation in landmark IPO backed by DeepSeek and Tencent
)
India names 27 sites in Arunachal Pradesh
)
Bharat Bhhagya Viddhaata OTT: When will Kangana Ranaut's film stream online?
&im=FitAndFill=(700,400))
How many soldiers operate one S-400 battery?
)
Shakib Al Hasan ready to return to Bangladesh—under one condition
)
‘Fake news’: MEA rejects report claiming India sought defence pact with Israel after Pakistan, Saudi Arabia, Turkey deal
)
Rockstar to unveil GTA 6 extended look ahead of November launch
)
Russia forms Ukrainian Volunteer Spetsnaz Brigade to fight Ukraine
)
Drug-resistant fungus that hides in hair and enters bloodstream reported in 23 US states
)
Technology transfer deal boosts India's defence manufacturing ambitions
)
Border row erupts in Europe after Ceuta crossings, Spain imposes border controls on Italy
)
Morale plummets on USS Abraham Lincoln: Are US sailors reaching a breaking point? | GRAVITAS
)
'Security can't be bought with Pakistan, Turkey deal': Iran tells Saudi Arabia
)
Baba Vanga's 2026 prophecy: 2 predictions 'already came true', 3 terrifying ones remain. Details inside
)
Colombia’s new president Abelardo de la Espriella vows to ‘defeat narco-terrorists’, signals hardline shift
&im=FitAndFill=(700,400))
New Friday OTT releases (August 7, 2026): Operation Safed Sagar, Vadhandhi, Main Vaapis Aaunga- 6 movies and TV shows on Netflix, Prime Video and more
)
Squadron Leader Bhawana Kanth scripts history as Indian Air Force gets its first woman ‘Top Gun’ pilot
)
RSS says Gen Z protests reflect genuine distress
)
Trump says Iranian school bombing photos could be AI-generated - 'I don’t think...'
)
IAF officer held for sharing sensitive information in 'honey trap' case, booked under Official Secrets Act
)
Stray Kids under scrutiny? Fans react to Grammy submission silence after BTS boycott
&im=FitAndFill=(700,400))
Why the Su-30MKI doesn't need external fuel tanks to fly vast distances
)
Jugal Hansraj reunites with Shekhar Kapur after 40 years for Masoom: The Next Generation
)
New speed limits, automatic challans: Big traffic change coming to Delhi-Meerut Expressway. All you need to know
)
India officially names 27 places in Arunachal to counter China's renaming claims
)
Trump calls White House ballroom ruling a 'national disgrace' as court says Congress approval needed
)
US sanctions Iran’s crypto network after Strait of Hormuz attacks, offers $15m bounty for intel on IRGC finance
&im=FitAndFill=(700,400))
Why the Su-30MKI is one of the heaviest fighters ever built
)
Uttarakhand young innovator builds India's own flying vehicle, conducts first test flight: WATCH
)
Chilling video shows students take cover as teen opens fire at Thai school
)
Reese Witherspoon's father hospitalised after poolside incident in Nashville: Report
Earlier on Thursday, Finance Minister Sitharaman presented the interim Budget for the financial year 2024-2025. Known for giving long and detailed budget speeches, Sitharaman's speech for this budget was the shortest, lastinga total of 57 minutes.
"The Indian economy has witnessed a profound positive transformation in the last ten years. The people of India are looking ahead to the future with hope and optimism," Sitharaman said and emphasised the continuity of the Modi government's commitment to the welfare of citizens.
She acknowledged the challenges posed by the COVID-19 pandemic but noted that India successfully overcame them, continuing its stride towards building a self-reliant (Atmanirbhar) country.
Key takeaways
Some of the key takeaways from Sitharaman's budget speech includeno change in the taxation scheme, both in direct and indirect brackets; revised estimate for fiscal deficit being 5.8 per cent of GDP; various schemes under maternal and child health care to be brought under one comprehensive programme and a scheme to help deserving sections of the middle class to buy or build their own houses.
"The exemplary track record of governance, development and performance, effective delivery, and ‘Jan Kalyan’ has given the Government trust, confidence and blessings of the people to realize, whatever it takes, the goal of ‘Viksit Bharat’ with good intentions, true dedication and hard work in the coming years and decades," Sitharaman said towards the end of her speech.