We focus on the changing economic landscape in India ahead of the budget. Traditionally, urban-driven manufacturing is decentralising, with rural areas now contributing over half the value addition in the sector. However, farmer income has not risen as fast as promised. Can the budget fix that? Take a look at this next report for more….

India Budget: India's consumption growth outpaced by nominal GDP growth

India Budget: India's urban-rural consumption gap narrows

All eyes are pinned on the budget announcements. Agriculture sector contributes over 16 per cent to India's GDP. WION tells you what agriculture sector is expecting from the budget 2024.

India Budget 2024: Expectations for agriculture sector

All eyes are pinned on the budget announcements. As the countdown begins, WION tells you what are India's youth expecting from the budget 2024.

India Budget 2024: What are India's youth expecting?

All eyes are pinned on the budget announcements. What will be the biggest focus areas for India's foreign minister ? As the countdown begins, what are small-scale business expecting?

Budget Talks: What business owners expect from upcoming budget announcements

India is the fastest growing major economy in the world but most of that growth has not been equal. With the Modi 3.0 government's first budget on the horizon, we look at what the government could do to promote equitable development. And, what other way to create wealth for the middle and lower classes than giving them incentives to own a home? Take a look at this report.

India Budget 2024-25: Will budget make your dream home a reality?

India Budget 2024-25: Affordable housing to get a boost from budget?

With the union budget just around the corner, reports are swirling about a possible tax hike on futures and options, or F&O, trading. This has raised concerns for some, but also sparked discussions about protecting investors and promoting long-term investment strategies. Take a look at this next report for more on this

India Budget 2024-25: government considers tax hike on F&O trading

As the big day approaches, India’s individual taxpayers are eagerly awaiting potential relief measures. With the interim budget of 2024 offering little in terms of tax benefits, there are high expectations for substantial reforms this time around. Our next reports explores the key changes that could significantly impact the middle class. Take a look.

India Budget: India's tax reforms in focus

India Budget: Will India’s budget attract more taxpayers?

India's new budget is poised to significantly impact the country’s real estate industry, particularly in the realm of affordable housing.&nbsp; 
&nbsp; 
Over recent years, affordable housing initiatives have catalysed progress by offering tax incentives to developers and homebuyers alike.&nbsp; 
&nbsp; 
But the general consensus is that more needs to be done.&nbsp; 
&nbsp; 
Indeed, despite these strides, challenges persist.&nbsp; 
&nbsp; 
These range from high land costs for acquisition to rising construction costs, as well as the need for sustainable development practices. 
&nbsp; 
From a consumer perspective, the focus lies on measures that could potentially enhance affordability and accessibility to homes.&nbsp; 
&nbsp; 
Some of the major expectations include a reduction of the GST rate on basic construction materials like cement, which currently stands at 28 per cent. 
&nbsp; 
Such a move could reduce overall home construction costs and subsequently lower property prices.&nbsp; 
&nbsp; 
Experts stress the importance of increasing the deduction limit for home loan interest payments beyond the current Rs 2 lakh per annum.&nbsp; 
&nbsp; 
This will offer significant relief to homebuyers burdened by high property prices and rents.&nbsp; 
&nbsp; 
In recent years, home loan interest rates have risen sharply to near double-digit rates.&nbsp; 
&nbsp; 
Reason: The Reserve Bank of India has kept its key interest rate at 6.5 per cent for over a year.&nbsp; 
&nbsp; 
So, the 2-lakh rupee limit is seen by experts as too low in today's scenario.&nbsp; 
&nbsp; 
While the government has no play in the interest rate setting part, its broader policies can offset some of the burden.&nbsp; 
&nbsp; 
By raising the interest repayment limit as a tax deduction, more disposable income will be added to people's purses.&nbsp; 
&nbsp; 
The post-pandemic resurgence in real estate has underscored the sector's digitisation and adaptability.&nbsp; 
&nbsp; 
Looking ahead, the budget is anticipated to introduce reforms aimed at sustaining this growth momentum.&nbsp; 
&nbsp; 
Initiatives such as incentivising first-time homebuyers, revisiting stamp duty rates, and reviving the credit-linked subsidy scheme under p-m-a-y could empower India's burgeoning middle class with greater homeownership opportunities.&nbsp; 
&nbsp; 
Proposals to grant infrastructure status to the real estate sector could facilitate easier access to financing.&nbsp; 
&nbsp; 
This can potentially translate to lower borrowing costs and increased affordability across the housing market.&nbsp; 
&nbsp; 
In essence, the budget's impact on the real estate industry hinges on its ability to address these critical consumer-centric issues, thereby potentially making homeownership more attainable for India's expanding middle class.&nbsp; 
&nbsp; 
The real question is - will the new coalition government pass through these reforms in the budget on July 23rd?&nbsp;

India's new budget is poised to significantly impact the country’s real estate industry, particularly in the realm of affordable housing. Over recent years, affordable housing initiatives have catalysed progress by offering tax incentives to developers and homebuyers alike.

India's new budget is poised to significantly impact the country’s real estate industry, particularly in the realm of affordable housing. Over recent years, affordable housing initiatives have catalysed progress by offering tax incentives to developers and homebuyers alike. But the general consensus is that more needs to be done. Indeed, despite these strides, challenges persist. These range from high land costs for acquisition to rising construction costs, as well as the need for sustainable development practices. From a consumer perspective, the focus lies on measures that could potentially enhance affordability and accessibility to homes. Some of the major expectations include a reduction of the GST rate on basic construction materials like cement, which currently stands at 28 per cent. Such a move could reduce overall home construction costs and subsequently lower property prices. Experts stress the importance of increasing the deduction limit for home loan interest payments beyond the current Rs 2 lakh per annum. This will offer significant relief to homebuyers burdened by high property prices and rents. In recent years, home loan interest rates have risen sharply to near double-digit rates. Reason: The Reserve Bank of India has kept its key interest rate at 6.5 per cent for over a year. So, the 2-lakh rupee limit is seen by experts as too low in today's scenario. While the government has no play in the interest rate setting part, its broader policies can offset some of the burden. By raising the interest repayment limit as a tax deduction, more disposable income will be added to people's purses. The post-pandemic resurgence in real estate has underscored the sector's digitisation and adaptability. Looking ahead, the budget is anticipated to introduce reforms aimed at sustaining this growth momentum. Initiatives such as incentivising first-time homebuyers, revisiting stamp duty rates, and reviving the credit-linked subsidy scheme under p-m-a-y could empower India's burgeoning middle class with greater homeownership opportunities. Proposals to grant infrastructure status to the real estate sector could facilitate easier access to financing. This can potentially translate to lower borrowing costs and increased affordability across the housing market. In essence, the budget's impact on the real estate industry hinges on its ability to address these critical consumer-centric issues, thereby potentially making homeownership more attainable for India's expanding middle class. The real question is - will the new coalition government pass through these reforms in the budget on July 23rd?

India Budget 2024-25: What is real estate sector's wishlist?

On July 11, Prime Minister Narendra Modi interacted with top economists to take inputs and ideas for the upcoming Budget for 2024-25.

This meeting called for crystallising the financial blueprint of the Modi 3.0 government, was also attended by Union Finance Minister Nirmala Sitharaman, who would present the Budget in the Lok Sabha on July 23.

It saw the participation of lead attendees: Niti Aayog Vice Chairman Suman Bery, Union Minister for Finance Sitharaman, Minister for Planning Rao Inderjit Singh, Chief Economic Advisor V. Anantha Nageswaran, noted economists Surjit Bhalla and Ashok Gulati, and veteran banker K.V. Kamath.

The budget is expected to hurry out a roadmap of how India should progress and become a developed nation by 2047, as President Droupadi Murmu told Parliament in her recent address.

She has said that the government will bring substantial reforms to hasten the pace of development.

FM Sitharaman has been aggressive in her preparation and has met a host of stakeholders, including economists and industry leaders, to get views that could make this Budget comprehensive.

What has come as a consistent suggestion is that the government needs to give tax relief so that there can be more consumer spending, external pressure on inflation, and economic growth.

The economy of India has registered a wonderful growth of 8.2 per cent for FY 2023-24. This would be an ensuing budget after the interim one presented by Ms Sitharaman in February, specially made with elections to Lok Sabha in view.

All told the forthcoming Budget must reflect new thinking, not mere tinkering; the comprehensive policies of the government shall set the foundation for India's future economic path.

On July 11, Prime Minister Narendra Modi interacted with top economists to take inputs and ideas for the upcoming Budget for 2024-25. This meeting called for crystallising the financial blueprint of the Modi 3.

On July 11, Prime Minister Narendra Modi interacted with top economists to take inputs and ideas for the upcoming Budget for 2024-25. This meeting called for crystallising the financial blueprint of the Modi 3.0 government, was also attended by Union Finance Minister Nirmala Sitharaman, who would present the Budget in the Lok Sabha on July 23. It saw the participation of lead attendees: Niti Aayog Vice Chairman Suman Bery, Union Minister for Finance Sitharaman, Minister for Planning Rao Inderjit Singh, Chief Economic Advisor V. Anantha Nageswaran, noted economists Surjit Bhalla and Ashok Gulati, and veteran banker K.V. Kamath. The budget is expected to hurry out a roadmap of how India should progress and become a developed nation by 2047, as President Droupadi Murmu told Parliament in her recent address. She has said that the government will bring substantial reforms to hasten the pace of development. FM Sitharaman has been aggressive in her preparation and has met a host of stakeholders, including economists and industry leaders, to get views that could make this Budget comprehensive. What has come as a consistent suggestion is that the government needs to give tax relief so that there can be more consumer spending, external pressure on inflation, and economic growth. The economy of India has registered a wonderful growth of 8.2 per cent for FY 2023-24. This would be an ensuing budget after the interim one presented by Ms Sitharaman in February, specially made with elections to Lok Sabha in view. All told the forthcoming Budget must reflect new thinking, not mere tinkering; the comprehensive policies of the government shall set the foundation for India's future economic path.

PM Modi meets economists ahead of upcoming budget

India's Finance Minister Nirmala Sitharaman will present the full Budget for 2024-25 in the Lok Sabha (lower house of the Indian parliament)&nbsp;on July 23, said&nbsp;Parliamentary Affairs Minister Kiren Rijiju on Saturday (July 5).

This will be the first Budget of the Prime Minister Narendra Modi 3.0 government.

Minister of Parliamentary Affairs, Kiren Rijiju took to&nbsp;X and said, “Hon’ble President of India, on the recommendation of Government of India, has approved the proposal for summoning of both the Houses of Parliament for the Budget Session, 2024 from 22nd July, 2024 to 12 August, 2024 (Subject to exigencies of Parliamentary Business). Union Budget, 2024-25 will be presented in Lok Sabha on 23 July, 2024.”

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Notably, Sitharaman, appointed as&nbsp;Finance Minister for a second consecutive term, will become the first to present seven&nbsp;Union Budgets in a row, surpassing Morarji Desai, who presented six consecutively.

Also read:&nbsp;<a href="https://www.wionews.com/india-news/outrage-in-india-as-telecom-giants-hike-prices-boycottjio-trends-on-x-738500">Outrage in India as telecom giants hike prices: #BoycottJio trends on X</a>

Earlier, President Droupadi Murmu had indicated that the upcoming Budget would be ‘historic’ and carry ‘major social and economic decisions’. Sitharaman had presented an interim budget in February ahead of the Lok Sabha elections.

The interim budget presented in February saw a lower FY25 fiscal deficit target of 5.1 per cent&nbsp;of the GDP. The government had announced no changes in the tax slabs in both the old and new regimes.

While addressing a joint sitting of Parliament, the finance minister had said key social and economic decisions will be the highlight of the Budget.

“This Budget will serve as an effective document of the government's far-reaching policies and futuristic vision. It will include major economic and social decisions, along with many historic steps. The pace of reforms will be further accelerated, aligning with the aspirations of the people of India for rapid development,” she said on June 27.

Sitharaman also held a meeting with finance ministers of several states and Union Territories towards the end of June to take&nbsp;proposals for the upcoming Union Budget.

(With inputs from agencies)

India's Finance Minister Nirmala Sitharaman will present the full Budget for 2024-25 in the Lok Sabha (lower house of the Indian parliament) on July 23, said Parliamentary Affairs Minister Kiren Rijiju on Saturday (July 5).

India's Finance Minister Nirmala Sitharaman will present the full Budget for 2024-25 in the Lok Sabha (lower house of the Indian parliament) on July 23, said Parliamentary Affairs Minister Kiren Rijiju on Saturday (July 5). This will be the first Budget of the Prime Minister Narendra Modi 3.0 government. Minister of Parliamentary Affairs, Kiren Rijiju took to X and said, “Hon’ble President of India, on the recommendation of Government of India, has approved the proposal for summoning of both the Houses of Parliament for the Budget Session, 2024 from 22nd July, 2024 to 12 August, 2024 (Subject to exigencies of Parliamentary Business). Union Budget, 2024-25 will be presented in Lok Sabha on 23 July, 2024.” Hon’ble President of India, on the recommendation of Government of India, has approved the proposal for summoning of both the Houses of Parliament for the Budget Session, 2024 from 22nd July, 2024 to 12 August, 2024 (Subject to exigencies of Parliamentary Business). Union Budget,… — Kiren Rijiju (@KirenRijiju) July 6, 2024 × Notably, Sitharaman, appointed as Finance Minister for a second consecutive term, will become the first to present seven Union Budgets in a row, surpassing Morarji Desai, who presented six consecutively. Also read: Outrage in India as telecom giants hike prices: #BoycottJio trends on X Earlier, President Droupadi Murmu had indicated that the upcoming Budget would be ‘historic’ and carry ‘major social and economic decisions’. Sitharaman had presented an interim budget in February ahead of the Lok Sabha elections. The interim budget presented in February saw a lower FY25 fiscal deficit target of 5.1 per cent of the GDP. The government had announced no changes in the tax slabs in both the old and new regimes. While addressing a joint sitting of Parliament, the finance minister had said key social and economic decisions will be the highlight of the Budget. “This Budget will serve as an effective document of the government's far-reaching policies and futuristic vision. It will include major economic and social decisions, along with many historic steps. The pace of reforms will be further accelerated, aligning with the aspirations of the people of India for rapid development,” she said on June 27. Sitharaman also held a meeting with finance ministers of several states and Union Territories towards the end of June to take proposals for the upcoming Union Budget. (With inputs from agencies)

Indian Finance Minister Nirmala Sitharaman to present budget on July 23

The Indian stock market gave a thumbs down to the interim budget on Thursday.&nbsp;

The Sensex closed 106.81 points down, settling at 71,645.30. The Nifty, on the other hand, lost 28.20 points to end the day at 21,697.50.&nbsp;

Overall, the interim budget turned out to be a mixed bag. While auto, bank, FMCG and power stocks rose by 0.2 to 0.8 percent, capital goods, metal and realty sectors were down by a percent each.

Last year, both indices rose dramatically before the budget-related excitement fizzled out.<o:p></o:p>

The Sensex closed marginally in the green, rising by 158.18 points. However, the Nifty fell 45 points.<o:p></o:p>

A year earlier, both indices rose on the back of the 'pro-growth' budget. But they pared gained by the time markets closed.<o:p></o:p>

February 1, 2021 was a red-letter day for the stock market as both indices soared after the budget. This budget has been dubbed 'the pandemic budget'. <o:p></o:p>

The Sensex ended the day at 48,600, up 2,000 points. The Nifty rose by 4.74 per cent, adding over 600 points during trading hours.<o:p></o:p>

In a bid to mitigate the economic impact of the Covid-19 pandemic, the government increased the capital expenditure outlay by 29 per cent compared to 2020-21. <o:p></o:p>

The 2021 budget allocated Rs 5,54,236 crore ($67.5 billion in 2023 terms). <o:p></o:p>

But the preceding two budgets -- the 2019 full budget and the 2020 budget -- failed to excite the markets. <o:p></o:p>

In 2020, the indices fell even further. The Sensex fell 988 points at closing, while the Nifty was down 300 points after the budget. <o:p></o:p>

The Sensex tanked 394 points while the Nifty fell 135 points after the 2019 full budget. <o:p></o:p>

The Sensex rose over 200 points after the 2019 interim budget. The Nifty too rose before settling down below 10,900 points. <o:p></o:p>

The 2019 interim budget was presented by Union Minister Piyush Goyal, in the absence of Finance Minister Aruun Jaitley. <o:p></o:p>

Announcements on auto, defence &amp; agriculture sectors led to the uptick in the markets.<o:p></o:p>

The Indian stock market gave a thumbs down to the interim budget on Thursday. The Sensex closed 106.81 points down, settling at 71,645.30. The Nifty, on the other hand, lost 28.

The Indian stock market gave a thumbs down to the interim budget on Thursday. The Sensex closed 106.81 points down, settling at 71,645.30. The Nifty, on the other hand, lost 28.20 points to end the day at 21,697.50. Overall, the interim budget turned out to be a mixed bag. While auto, bank, FMCG and power stocks rose by 0.2 to 0.8 percent, capital goods, metal and realty sectors were down by a percent each. Last year, both indices rose dramatically before the budget-related excitement fizzled out. The Sensex closed marginally in the green, rising by 158.18 points. However, the Nifty fell 45 points. A year earlier, both indices rose on the back of the 'pro-growth' budget. But they pared gained by the time markets closed. February 1, 2021 was a red-letter day for the stock market as both indices soared after the budget. This budget has been dubbed 'the pandemic budget'. The Sensex ended the day at 48,600, up 2,000 points. The Nifty rose by 4.74 per cent, adding over 600 points during trading hours. In a bid to mitigate the economic impact of the Covid-19 pandemic, the government increased the capital expenditure outlay by 29 per cent compared to 2020-21. The 2021 budget allocated Rs 5,54,236 crore ($67.5 billion in 2023 terms). But the preceding two budgets -- the 2019 full budget and the 2020 budget -- failed to excite the markets. In 2020, the indices fell even further. The Sensex fell 988 points at closing, while the Nifty was down 300 points after the budget. The Sensex tanked 394 points while the Nifty fell 135 points after the 2019 full budget. The Sensex rose over 200 points after the 2019 interim budget. The Nifty too rose before settling down below 10,900 points. The 2019 interim budget was presented by Union Minister Piyush Goyal, in the absence of Finance Minister Aruun Jaitley. Announcements on auto, defence & agriculture sectors led to the uptick in the markets.

Budget 2024: Indian markets close in the red after interim budget

Indian Finance Minister Nirmala Sitharaman said during her Budget 2024 speech that India will solarise rooftops of 10 million households and provide viability gap funding for harnessing offshore wind energy potential with an initial capacity of one gigawatt in an effort to achieve net-zero carbon emissions.&nbsp;

Sitharaman said that the government will mandate the phased blending of compressed biogas (CBG) in compressed natural gas (CNG) for transport and natural gas (PNG) for domestic purposes.&nbsp;

India has pledged to achieve net-zero emissions by 2070 and 50 per cent cumulative electric power installed capacity from non-fossil fuel-based energy sources by 2030.&nbsp;

Also read:&nbsp;<a href="https://www.wionews.com/business-economy/what-do-experts-think-of-indias-health-budget-how-can-govt-improve-it-686930">What do experts think of India's health budget? How can govt improve it?</a>&nbsp;

The Indian finance minister stated that the government would enable 10 million homes to get up to 300 units of free electricity each month through the rooftop solar initiative which will result in savings of up to Rs 18,000 annually for households from selling the surplus solar electricity to distribution companies.&nbsp;

The International Renewable Energy Agency's Renewable Capacity Statistics 2023 noted that globally, India stands fourth in renewable energy installed capacity,&nbsp;fourth in wind power capacity and fifth in solar power capacity.&nbsp;

Saurabh Kumar, who is the Vice President - India, Global Energy Alliance for People and Planet (GEAPP), said: "The interim Union Budget 2024 not only signifies a landmark in India's journey to a net-zero economy by 2070 but reflects the government's vision of Viksit Bharat, which anchors on pillars of energy security and accessible, affordable clean energy."&nbsp;

"The rooftop solar scheme marks a significant milestone for scaling up India's clean energy ambitions. The push for an Electric Vehicle (EV) ecosystem creation and the large-scale roll-out of E-buses through payment security mechanisms will decarbonise the mobility sector while propelling India as a potential EV manufacturing hub. The announcement of the INR 1 lakh crore corpus is a remarkable step to attract private investment in innovation, research and development in the clean energy sector," Kumar added.&nbsp;

Also read:&nbsp;<a href="https://www.wionews.com/business-economy/election-year-vs-election-year-how-this-years-budget-different-from-2019-interim-budget-685936">Election year vs Election year: How this year's budget is different from 2019 Interim Budget</a>&nbsp;

<h2>What is Blue Economy 2.0?&nbsp;</h2>

Sitharaman also unveiled plans for the launch of Blue Economy 2.0, which is focused at promoting climate-resilient activities and sustainable development in coastal areas.&nbsp;

The scheme will prioritise restoration and adaptation measures, as well as the expansion of coastal aquaculture and mariculture while using an integrated and multi-sectoral approach.&nbsp;

Shailly Kedia, who is a Senior Fellow, at TERI and Curator of the World Sustainable Development Summit, said: "The government has continued to expand the mandate for green growth. It is encouraging to see allocations and green initiatives such as bio-manufacturing, bio-foundry, climate resilient blue economy, electric mobility and focus on clean energy including offshore wind energy."&nbsp;

While weighing in on the options on how to go about further in the future, Kedia said, "According to Demand No 28, budget estimates for Ministry of Environment, Forests and Climate Change (MOEFCC) are INR 3265 crores. This is less than 0.07% of the total expenditure for FY 2024-25. The expanding mandate for the environment and climate change in India also needs to be reflected through an increase in allocation to the MOEFCC."&nbsp;

"Statement 12 and Statement 13 in the Union Budget are on Gender Budget and Child Budgeting respectively. To give further impetus to environmental goals and equity, Union budgeting should include Green Budgeting as the third pillar of issue-based budgeting processes. If not a dedicated statement, a green tagging process as stated in the Union Budget 2020-21 should start," he added.&nbsp;

<h2>Moody's on India's Interim Budget 2024&nbsp;</h2>

Moody's Investors Service on Thursday said the interim budget for 2024-25 firmly conveys the government's commitment to its fiscal consolidation goals, set against a backdrop of healthy economic growth.&nbsp;

Moody's Investors Service Senior Vice President Christian de Guzman said the government demonstrated fiscal restraint in not resorting to large handouts or increasing discretionary spending ahead of this year's elections.&nbsp;

"The government anticipates that reduced spending as a percentage of GDP will largely drive the reduction in the fiscal deficit, despite ongoing increases in planned infrastructure spending," Guzman said.&nbsp;

Indian Finance Minister Nirmala Sitharaman said during her Budget 2024 speech that India will solarise rooftops of 10 million households and provide viability gap funding for harnessing offshore wind energy potential with an initial capacity of one gigawatt in an effort to achieve net-zero carbon emissions.

Indian Finance Minister Nirmala Sitharaman said during her Budget 2024 speech that India will solarise rooftops of 10 million households and provide viability gap funding for harnessing offshore wind energy potential with an initial capacity of one gigawatt in an effort to achieve net-zero carbon emissions. Sitharaman said that the government will mandate the phased blending of compressed biogas (CBG) in compressed natural gas (CNG) for transport and natural gas (PNG) for domestic purposes. India has pledged to achieve net-zero emissions by 2070 and 50 per cent cumulative electric power installed capacity from non-fossil fuel-based energy sources by 2030. Also read: What do experts think of India's health budget? How can govt improve it? The Indian finance minister stated that the government would enable 10 million homes to get up to 300 units of free electricity each month through the rooftop solar initiative which will result in savings of up to Rs 18,000 annually for households from selling the surplus solar electricity to distribution companies. The International Renewable Energy Agency's Renewable Capacity Statistics 2023 noted that globally, India stands fourth in renewable energy installed capacity, fourth in wind power capacity and fifth in solar power capacity. Saurabh Kumar, who is the Vice President - India, Global Energy Alliance for People and Planet (GEAPP), said: "The interim Union Budget 2024 not only signifies a landmark in India's journey to a net-zero economy by 2070 but reflects the government's vision of Viksit Bharat, which anchors on pillars of energy security and accessible, affordable clean energy." "The rooftop solar scheme marks a significant milestone for scaling up India's clean energy ambitions. The push for an Electric Vehicle (EV) ecosystem creation and the large-scale roll-out of E-buses through payment security mechanisms will decarbonise the mobility sector while propelling India as a potential EV manufacturing hub. The announcement of the INR 1 lakh crore corpus is a remarkable step to attract private investment in innovation, research and development in the clean energy sector," Kumar added. Also read: Election year vs Election year: How this year's budget is different from 2019 Interim Budget What is Blue Economy 2.0? Sitharaman also unveiled plans for the launch of Blue Economy 2.0, which is focused at promoting climate-resilient activities and sustainable development in coastal areas. The scheme will prioritise restoration and adaptation measures, as well as the expansion of coastal aquaculture and mariculture while using an integrated and multi-sectoral approach. Shailly Kedia, who is a Senior Fellow, at TERI and Curator of the World Sustainable Development Summit, said: "The government has continued to expand the mandate for green growth. It is encouraging to see allocations and green initiatives such as bio-manufacturing, bio-foundry, climate resilient blue economy, electric mobility and focus on clean energy including offshore wind energy." While weighing in on the options on how to go about further in the future, Kedia said, "According to Demand No 28, budget estimates for Ministry of Environment, Forests and Climate Change (MOEFCC) are INR 3265 crores. This is less than 0.07% of the total expenditure for FY 2024-25. The expanding mandate for the environment and climate change in India also needs to be reflected through an increase in allocation to the MOEFCC." "Statement 12 and Statement 13 in the Union Budget are on Gender Budget and Child Budgeting respectively. To give further impetus to environmental goals and equity, Union budgeting should include Green Budgeting as the third pillar of issue-based budgeting processes. If not a dedicated statement, a green tagging process as stated in the Union Budget 2020-21 should start," he added. Moody's on India's Interim Budget 2024 Moody's Investors Service on Thursday said the interim budget for 2024-25 firmly conveys the government's commitment to its fiscal consolidation goals, set against a backdrop of healthy economic growth. Moody's Investors Service Senior Vice President Christian de Guzman said the government demonstrated fiscal restraint in not resorting to large handouts or increasing discretionary spending ahead of this year's elections. "The government anticipates that reduced spending as a percentage of GDP will largely drive the reduction in the fiscal deficit, despite ongoing increases in planned infrastructure spending," Guzman said.

Climate Change: How Budget 2024 is a ‘landmark in India’s journey to net-zero economy’

Indian Finance Minister Nirmala Sitharaman presented the Interim Budget for the fiscal year 2024, which included the announcement of the health outlay. It was an interim budget and it aims to take care of the fiscal needs of the intervening period until a government is formed after the general elections, hence, it didn't include major announcements.&nbsp;

When it comes to the health sector, the finance minister made only a slight increase in fund allocations for the ministries of health and family welfare and women and child development.&nbsp;

The Indian government announced the extension of the flagship Ayushman Bharat health insurance scheme to all ASHA and Anganwadi workers and helpers. It also upgraded and strengthened the POSHAN scheme, which aims to provide nutritious meals to children at government schools.&nbsp;

Also read:&nbsp;<a href="https://www.wionews.com/health-and-wellness/world-cancer-day-redefining-support-for-breast-cancer-patients-in-india-and-iimportnce-of-palliative-care-686886">World Cancer Day: Redefining support for breast cancer patients in India, importance of palliative care</a>&nbsp;

Sitharaman announced ₹90,658 crore to the health ministry, which is an increase of only 1.68 per cent over the previous year. The Ministry for Women and Child Development (WCD) has been allocated ₹26,092 crore, a 2.53 per cent increase over last year.&nbsp;

In a release, Dr Vijayabhaskaran, Executive Director, Kauvery Hospital, Bengaluru &amp; Hosur weighed in on the interim budget 2024. He said, "The Indian Government's 2024 interim union budget for the healthcare sector underscores a multi-faceted approach towards enhancing healthcare education, broadening coverage, and emphasising preventive measures."&nbsp;

"The initiative to establish more medical colleges by leveraging existing hospital infrastructures aligns with global best practices, similar to the integration seen in teaching hospitals in the US, where clinical settings offer robust training grounds for medical students. This model fosters a blend of academic knowledge and practical experience, crucial for producing well-rounded healthcare professionals," Dr Vijayabhaskaran added.&nbsp;

He added that in order to "effectively manage the primary healthcare needs and address the shortage at the speciality level, it's essential to consider strategies beyond just increasing the number of medical colleges".&nbsp;

Also read:&nbsp;<a href="https://www.wionews.com/health-and-wellness/cervical-cancer-experts-tell-importance-of-symptoms-and-preventive-measures-a-must-read-for-all-women-683639">Cervical Cancer: Experts talk about preventive measures. A must-read for all women</a>&nbsp;

Explaining with an example, Dr Vijayabhaskaran mentioned that India faces a nearly 80 per cent shortage of surgeons, physicians, gynaecologists, and paediatricians in rural community health centres. "Specialist doctors often prefer urban settings or overseas opportunities due to better infrastructure, resources, and professional growth prospects," he said.

Sitharaman's budget included the health of young girls as she said that the government will actively promote the vaccination of girls aged 9-14 for the prevention of cervical cancer.&nbsp;

Dr Sanjeev Kumar, who is Surgical Oncologist, at Manipal Hospital, Dwarka, told WION: "It's a welcome move by the government of India. Cervical cancer is one of the preventable cancers. HPV vaccination in the age group 9-14 years has&nbsp;been shown to be safe and effective in preventing HPV infection and cervical cancer. Routine HPV vaccination should be included in the National Immunisation Programme.&nbsp;

Sombrata Roy, Unit head of CMRI-CK Birla Hospitals, Kolkata, said in a release: "In the 2024 interim budget, our healthcare mission is firm. We commend the government's dedication to combat cervical cancer. The plan to establish additional medical colleges resonates with our commitment to advancing medical education. We eagerly anticipate contributing to these national initiatives, ensuring comprehensive and inclusive healthcare for all."&nbsp;

<h2>How govt can improve it?</h2>

After the Lok Sabha polls, a full budget will be presented probably in July by the new government. Experts expect that new policies and major policies will be announced then.&nbsp;

Dr Vijayabhaskaran said in the release that the government should explore adopting some of these strategies to address this imbalance.&nbsp;

1. Incentivising Rural Service: Offering financial incentives, housing, and opportunities for professional development for doctors serving in rural and underserved areas could help attract more specialists to these regions.&nbsp;

2. Enhanced Telemedicine Services: Leveraging telemedicine can help bridge the gap in specialist care in remote areas. This could involve setting up teleconsultation services that connect specialists in urban centres with patients in rural areas and can also help create younger entrepreneurs in tier two&nbsp;and rural areas.&nbsp;

3. Focused Training Programmes: Developing training programmes specifically designed for rural healthcare needs could help prepare specialists willing to work in these settings. This might include training in a broader range of skills to manage a variety of conditions in resource-limited settings.&nbsp;

4. Public-Private Partnerships: Encouraging partnerships between the government and private sector can lead to the development of healthcare infrastructure in underserved areas, making them more attractive places for specialists to work.&nbsp;

5. Regulatory Reforms: Simplifying the process for medical professionals trained abroad to practice in India could help alleviate the shortage of specialists.&nbsp;&nbsp;

<h2>Ayushman Bharat Expansion</h2>

Dr Vijayabhaskaran said, "The expansion of Ayushman Bharat to include all ASHA workers, Anganwadi Workers, and Helpers under its healthcare cover is a commendable move towards ensuring a healthier workforce at the grassroots level of healthcare delivery. Ayushman Bharat has already made significant strides by operationalising over 1.5 lakh Health and Wellness Centres (HWCs) across India, providing comprehensive primary healthcare services."

"This initiative has seen remarkable progress, with millions benefiting from screenings for non-communicable diseases and teleconsultations. With a proven and well-established system Ayushman Bharat can further strengthen its primary healthcare framework, ensuring early detection and management of diseases at the community level," he added.&nbsp;

Indian Finance Minister Nirmala Sitharaman presented the Interim Budget for the fiscal year 2024, which included the announcement of the health outlay. It was an interim budget and it aims to take care of the fiscal needs of the intervening period until a government is formed after the general elections, hence, it didn't include major announcements.

Indian Finance Minister Nirmala Sitharaman presented the Interim Budget for the fiscal year 2024, which included the announcement of the health outlay. It was an interim budget and it aims to take care of the fiscal needs of the intervening period until a government is formed after the general elections, hence, it didn't include major announcements. When it comes to the health sector, the finance minister made only a slight increase in fund allocations for the ministries of health and family welfare and women and child development. The Indian government announced the extension of the flagship Ayushman Bharat health insurance scheme to all ASHA and Anganwadi workers and helpers. It also upgraded and strengthened the POSHAN scheme, which aims to provide nutritious meals to children at government schools. Also read: World Cancer Day: Redefining support for breast cancer patients in India, importance of palliative care Sitharaman announced ₹90,658 crore to the health ministry, which is an increase of only 1.68 per cent over the previous year. The Ministry for Women and Child Development (WCD) has been allocated ₹26,092 crore, a 2.53 per cent increase over last year. In a release, Dr Vijayabhaskaran, Executive Director, Kauvery Hospital, Bengaluru & Hosur weighed in on the interim budget 2024. He said, "The Indian Government's 2024 interim union budget for the healthcare sector underscores a multi-faceted approach towards enhancing healthcare education, broadening coverage, and emphasising preventive measures." "The initiative to establish more medical colleges by leveraging existing hospital infrastructures aligns with global best practices, similar to the integration seen in teaching hospitals in the US, where clinical settings offer robust training grounds for medical students. This model fosters a blend of academic knowledge and practical experience, crucial for producing well-rounded healthcare professionals," Dr Vijayabhaskaran added. He added that in order to "effectively manage the primary healthcare needs and address the shortage at the speciality level, it's essential to consider strategies beyond just increasing the number of medical colleges". Also read: Cervical Cancer: Experts talk about preventive measures. A must-read for all women Explaining with an example, Dr Vijayabhaskaran mentioned that India faces a nearly 80 per cent shortage of surgeons, physicians, gynaecologists, and paediatricians in rural community health centres. "Specialist doctors often prefer urban settings or overseas opportunities due to better infrastructure, resources, and professional growth prospects," he said. Sitharaman's budget included the health of young girls as she said that the government will actively promote the vaccination of girls aged 9-14 for the prevention of cervical cancer. Dr Sanjeev Kumar, who is Surgical Oncologist, at Manipal Hospital, Dwarka, told WION: "It's a welcome move by the government of India. Cervical cancer is one of the preventable cancers. HPV vaccination in the age group 9-14 years has been shown to be safe and effective in preventing HPV infection and cervical cancer. Routine HPV vaccination should be included in the National Immunisation Programme. Sombrata Roy, Unit head of CMRI-CK Birla Hospitals, Kolkata, said in a release: "In the 2024 interim budget, our healthcare mission is firm. We commend the government's dedication to combat cervical cancer. The plan to establish additional medical colleges resonates with our commitment to advancing medical education. We eagerly anticipate contributing to these national initiatives, ensuring comprehensive and inclusive healthcare for all." How govt can improve it? After the Lok Sabha polls, a full budget will be presented probably in July by the new government. Experts expect that new policies and major policies will be announced then. Dr Vijayabhaskaran said in the release that the government should explore adopting some of these strategies to address this imbalance. 1. Incentivising Rural Service: Offering financial incentives, housing, and opportunities for professional development for doctors serving in rural and underserved areas could help attract more specialists to these regions. 2. Enhanced Telemedicine Services: Leveraging telemedicine can help bridge the gap in specialist care in remote areas. This could involve setting up teleconsultation services that connect specialists in urban centres with patients in rural areas and can also help create younger entrepreneurs in tier two and rural areas. 3. Focused Training Programmes: Developing training programmes specifically designed for rural healthcare needs could help prepare specialists willing to work in these settings. This might include training in a broader range of skills to manage a variety of conditions in resource-limited settings. 4. Public-Private Partnerships: Encouraging partnerships between the government and private sector can lead to the development of healthcare infrastructure in underserved areas, making them more attractive places for specialists to work. 5. Regulatory Reforms: Simplifying the process for medical professionals trained abroad to practice in India could help alleviate the shortage of specialists. Ayushman Bharat Expansion Dr Vijayabhaskaran said, "The expansion of Ayushman Bharat to include all ASHA workers, Anganwadi Workers, and Helpers under its healthcare cover is a commendable move towards ensuring a healthier workforce at the grassroots level of healthcare delivery. Ayushman Bharat has already made significant strides by operationalising over 1.5 lakh Health and Wellness Centres (HWCs) across India, providing comprehensive primary healthcare services." "This initiative has seen remarkable progress, with millions benefiting from screenings for non-communicable diseases and teleconsultations. With a proven and well-established system Ayushman Bharat can further strengthen its primary healthcare framework, ensuring early detection and management of diseases at the community level," he added.

What do health experts think of India’s interim budget? How can govt improve it?

India has unveiled a $580 billion interim budget for the next fiscal year, which begins on April 1. But have you ever wondered how the government earns and spends each rupee accounted in the budget? We break that down for you.

How India earns and spends every rupee

An A-Z of budgetary terms, explained in layman’s language.&nbsp;

A:&nbsp;

Allocation:&nbsp;Amount of money set aside for specific programs or sectors.&nbsp;

Ayushman Bharat Yojana (ABY):&nbsp;Government health insurance scheme for low-income households.&nbsp;

Agriculture credit target:&nbsp;Annual target for loans provided to farmers by banks.&nbsp;

B:&nbsp;

Balanced Budget Act (BBA):&nbsp;Legislation setting fiscal deficit targets for the government.&nbsp;

Banking sector:&nbsp;Financial institutions accepting deposits and providing loans.&nbsp;

Bharat Net (BNET):&nbsp;Government scheme to provide broadband connectivity to villages.&nbsp;

C:&nbsp;

Capital expenditure (capex):&nbsp;Government spending on infrastructure and assets.&nbsp;

Central Plan Expenditure:&nbsp;A part of the budget that is allocated to specific economic and social development programs.&nbsp;

D:&nbsp;

Direct benefits transfer (DBT):&nbsp;A scheme&nbsp;to transfer subsidies directly to beneficiaries' bank accounts.&nbsp;

Direct taxes:&nbsp;Taxes levied directly on individuals and businesses, like income tax or corporate tax.&nbsp;

Deficit:&nbsp;The gap between government income and expenditure.&nbsp;

Developed Economy vs Developing Economy:&nbsp;A developed economy usually belongs to a developed country that's doing well economically and has good stability. In contrast, developing economies, previously called lesser-developed economies, face challenges like poor infrastructure, slower growth, an uneven economy, and very low personal incomes.

E:&nbsp;

Excise duty:&nbsp;Tax levied on goods produced domestically.&nbsp;

Economic Survey:&nbsp;Annual report published by the Ministry of Finance before the Budget presentation.&nbsp;

Expenditure Budget:&nbsp;Document detailing the government's planned spending for the year.&nbsp;

F:&nbsp;

Fiscal deficit:&nbsp;Difference between total government spending and total non-borrowed revenue.&nbsp;

Food Security Act (FSA):&nbsp;Law guaranteeing subsidized food grains to millions of people.&nbsp;

Finance Act:&nbsp;Legislation passed by Parliament to implement the Budget proposals.&nbsp;

G:&nbsp;

Goods and Services Tax (GST):&nbsp;Indirect tax applied to most goods and services in India.&nbsp;

Grants:&nbsp;Financial assistance provided by the government to individuals, institutions, or states.&nbsp;

Green Climate Fund (GCF):&nbsp;International fund to support developing countries in climate action.&nbsp;

H:&nbsp;

Human Development Index (HDI):&nbsp;Measure of a country's progress in health, education, and living standards.&nbsp;

Housing for All:&nbsp;Urban and rural housing schemes for low-income groups.&nbsp;

I:&nbsp;

Indirect taxes:&nbsp;Taxes levied on goods and services at various stages of production and distribution, like GST.&nbsp;

Interest rates:&nbsp;Rates charged by banks for loans or paid on investments.&nbsp;

J:&nbsp;

Jan Dhan Yojana:&nbsp;Financial inclusion scheme providing bank accounts to all households.&nbsp;

Job creation:&nbsp;Number of new jobs created in the economy during a specific period.&nbsp;

K:&nbsp;

Kisan Credit Card (KCC):&nbsp;Government scheme providing credit to farmers at subsidized interest rates.&nbsp;

Krishi Vikas Yojana (KVK):&nbsp;Scheme to provide agricultural extension services to farmers.&nbsp;

L:&nbsp;

Local Area Development (LAD) funds:&nbsp;Funds allocated to MPs for development projects in their constituencies.&nbsp;

MGNREGA (Mahatma Gandhi National Rural Employment Guarantee Act):&nbsp;Scheme guaranteeing 100 days of work per year to rural adults.&nbsp;

M:&nbsp;

Manufacturing sector:&nbsp;Industry involved in the production of goods.&nbsp;

Monetary policy:&nbsp;Government policies influencing the money supply and interest rates.&nbsp;

Micro, Small and Medium Enterprises (MSMEs):&nbsp;Sector comprising small businesses contributing to the economy.&nbsp;

N:&nbsp;

Net Domestic Product (NDP):&nbsp;Value of all final goods and services produced within a country's borders in a given year.&nbsp;

Non-tax revenue:&nbsp;Government income from sources other than taxes, like dividends or fees.&nbsp;

O:&nbsp;

Off-budget financing:&nbsp;Government financial activities not included in the official budget.&nbsp;

Open Government Platform (OGP):&nbsp;Initiative promoting transparency and citizen participation in government.&nbsp;

P:&nbsp;

Plan versus non-plan expenditure:&nbsp;Categorisation of spending based on whether it contributes to development plans.&nbsp;

Public debt:&nbsp;Total amount of money owed by the government to creditors.&nbsp;

Q:&nbsp;

Quasi-expenditure:&nbsp;Expenses not directly reflected in the budget but incurred through government guarantees or loans.&nbsp;

R:&nbsp;

Revenue deficit: The difference&nbsp;between the government's non-tax revenue and its non-debt expenditure.&nbsp;

Revenue Expenditure vs Capital Expenditure:&nbsp;Revenue expenditure refers to expenditure that occurs&nbsp;regularly, like routine expenses for running government departments and providing services. On the other hand, Capital expenditure is not regular; it is&nbsp;used for the purchase of&nbsp;assets or for giving loans and advances.

S:&nbsp;

Sarva Shiksha Abhiyan (SSA):&nbsp;Government scheme for achieving universal elementary education.&nbsp;

Samagra Shiksha:&nbsp;Scheme for holistic development of school education.&nbsp;

Subsidies:&nbsp;Financial assistance provided by the government to producers or consumers to reduce the price of goods or services.&nbsp;

Sustainable Development Goals (SDGs):&nbsp;Global goals for environmental,&nbsp;economic,&nbsp;and social development.&nbsp;

T:&nbsp;

Tax incentives:&nbsp;Special tax benefits offered by the government to encourage certain activities.&nbsp;

Tariff:&nbsp;Tax levied on imported goods.&nbsp;

Transparency:&nbsp;Openness and accountability in government policies and spending.&nbsp;

U:&nbsp;

Union Budget:&nbsp;Annual statement of the government's finances including income,&nbsp;expenditure,&nbsp;and deficit.&nbsp;

Urban development:&nbsp;Government programs aimed at improving infrastructure and services in cities.&nbsp;

V:&nbsp;

Value Added Tax (VAT):&nbsp;Indirect tax levied on the added value of goods and services at each stage of production and distribution (predecessor to GST).&nbsp;

Village Health and Sanitation Scheme (VHSN):&nbsp;Program to improve public health and sanitation in rural areas.&nbsp;

W:&nbsp;

Women empowerment:&nbsp;Government initiatives to improve women's social and economic status.&nbsp;

X:&nbsp;

X-Factor:&nbsp;Unforeseen events or changes that might impact the budget projections.&nbsp;

Y:&nbsp;

Youth development:&nbsp;Government programs aimed at developing the skills and opportunities for young people.&nbsp;

Z:&nbsp;

Zero-based budgeting:&nbsp;Approach where each expense needs to be justified from scratch,&nbsp;rather than simply rolling over previous allocations.&nbsp;

An A-Z of budgetary terms, explained in layman’s language. A: Allocation: Amount of money set aside for specific programs or sectors. Ayushman Bharat Yojana (ABY): Government health insurance scheme for low-income households.

An A-Z of budgetary terms, explained in layman’s language. A: Allocation: Amount of money set aside for specific programs or sectors. Ayushman Bharat Yojana (ABY): Government health insurance scheme for low-income households. Agriculture credit target: Annual target for loans provided to farmers by banks. B: Balanced Budget Act (BBA): Legislation setting fiscal deficit targets for the government. Banking sector: Financial institutions accepting deposits and providing loans. Bharat Net (BNET): Government scheme to provide broadband connectivity to villages. C: Capital expenditure (capex): Government spending on infrastructure and assets. Central Plan Expenditure: A part of the budget that is allocated to specific economic and social development programs. D: Direct benefits transfer (DBT): A scheme to transfer subsidies directly to beneficiaries' bank accounts. Direct taxes: Taxes levied directly on individuals and businesses, like income tax or corporate tax. Deficit: The gap between government income and expenditure. Developed Economy vs Developing Economy: A developed economy usually belongs to a developed country that's doing well economically and has good stability. In contrast, developing economies, previously called lesser-developed economies, face challenges like poor infrastructure, slower growth, an uneven economy, and very low personal incomes. E: Excise duty: Tax levied on goods produced domestically. Economic Survey: Annual report published by the Ministry of Finance before the Budget presentation. Expenditure Budget: Document detailing the government's planned spending for the year. F: Fiscal deficit: Difference between total government spending and total non-borrowed revenue. Food Security Act (FSA): Law guaranteeing subsidized food grains to millions of people. Finance Act: Legislation passed by Parliament to implement the Budget proposals. G: Goods and Services Tax (GST): Indirect tax applied to most goods and services in India. Grants: Financial assistance provided by the government to individuals, institutions, or states. Green Climate Fund (GCF): International fund to support developing countries in climate action. H: Human Development Index (HDI): Measure of a country's progress in health, education, and living standards. Housing for All: Urban and rural housing schemes for low-income groups. I: Indirect taxes: Taxes levied on goods and services at various stages of production and distribution, like GST. Interest rates: Rates charged by banks for loans or paid on investments. J: Jan Dhan Yojana: Financial inclusion scheme providing bank accounts to all households. Job creation: Number of new jobs created in the economy during a specific period. K: Kisan Credit Card (KCC): Government scheme providing credit to farmers at subsidized interest rates. Krishi Vikas Yojana (KVK): Scheme to provide agricultural extension services to farmers. L: Local Area Development (LAD) funds: Funds allocated to MPs for development projects in their constituencies. MGNREGA (Mahatma Gandhi National Rural Employment Guarantee Act): Scheme guaranteeing 100 days of work per year to rural adults. M: Manufacturing sector: Industry involved in the production of goods. Monetary policy: Government policies influencing the money supply and interest rates. Micro, Small and Medium Enterprises (MSMEs): Sector comprising small businesses contributing to the economy. N: Net Domestic Product (NDP): Value of all final goods and services produced within a country's borders in a given year. Non-tax revenue: Government income from sources other than taxes, like dividends or fees. O: Off-budget financing: Government financial activities not included in the official budget. Open Government Platform (OGP): Initiative promoting transparency and citizen participation in government. P: Plan versus non-plan expenditure: Categorisation of spending based on whether it contributes to development plans. Public debt: Total amount of money owed by the government to creditors. Q: Quasi-expenditure: Expenses not directly reflected in the budget but incurred through government guarantees or loans. R: Revenue deficit: The difference between the government's non-tax revenue and its non-debt expenditure. Revenue Expenditure vs Capital Expenditure: Revenue expenditure refers to expenditure that occurs regularly, like routine expenses for running government departments and providing services. On the other hand, Capital expenditure is not regular; it is used for the purchase of assets or for giving loans and advances. S: Sarva Shiksha Abhiyan (SSA): Government scheme for achieving universal elementary education. Samagra Shiksha: Scheme for holistic development of school education. Subsidies: Financial assistance provided by the government to producers or consumers to reduce the price of goods or services. Sustainable Development Goals (SDGs): Global goals for environmental, economic, and social development. T: Tax incentives: Special tax benefits offered by the government to encourage certain activities. Tariff: Tax levied on imported goods. Transparency: Openness and accountability in government policies and spending. U: Union Budget: Annual statement of the government's finances including income, expenditure, and deficit. Urban development: Government programs aimed at improving infrastructure and services in cities. V: Value Added Tax (VAT): Indirect tax levied on the added value of goods and services at each stage of production and distribution (predecessor to GST). Village Health and Sanitation Scheme (VHSN): Program to improve public health and sanitation in rural areas. W: Women empowerment: Government initiatives to improve women's social and economic status. X: X-Factor: Unforeseen events or changes that might impact the budget projections. Y: Youth development: Government programs aimed at developing the skills and opportunities for young people. Z: Zero-based budgeting: Approach where each expense needs to be justified from scratch, rather than simply rolling over previous allocations.

Business Jargon Buster: Budget edition 

India has recently unveiled its interim budget for the upcoming fiscal year, allocating $580 billion for various expenditures commencing on April 1. The budget, presented by Finance Minister Nirmala Sitharaman, reflects the economic priorities of the nation. But what goes into earning every rupee that contributes to this massive financial plan?

Breaking down the sources of income, it is revealed that 28 paise of every rupee comes from government borrowings. Income tax follows closely, contributing 19 paise, while Goods and Services Tax (GST) contributes 18 paise. The corporate sector adds 17 paise, and customs and excise duties together contribute 9 paise. The remaining 9 paise come from various other sources, showcasing a diverse revenue stream.

Turning the focus to expenditures, one-fifth of the government's budget goes into paying interest on loans, reflecting the economic challenge of managing existing debt. As a federal country, every 16 paise earned is shared with the states and union territories, emphasising cooperative fiscal responsibility.

Government schemes account for at least 24 paise. Pensions and subsidies make up 10 paise, while defence spending constitutes 8 paise. Finance Commission-related fund transfers and other expenses collectively take away the remaining 22 paise.

This comprehensive breakdown of how each rupee is earned and spent provides a glimpse into India's economic health and its ambitious goal to emerge as a developed country by 2047. &nbsp;

&nbsp;

India has recently unveiled its interim budget for the upcoming fiscal year, allocating $580 billion for various expenditures commencing on April 1. The budget, presented by Finance Minister Nirmala Sitharaman, reflects the economic priorities of the nation.

India has recently unveiled its interim budget for the upcoming fiscal year, allocating $580 billion for various expenditures commencing on April 1. The budget, presented by Finance Minister Nirmala Sitharaman, reflects the economic priorities of the nation. But what goes into earning every rupee that contributes to this massive financial plan? Breaking down the sources of income, it is revealed that 28 paise of every rupee comes from government borrowings. Income tax follows closely, contributing 19 paise, while Goods and Services Tax (GST) contributes 18 paise. The corporate sector adds 17 paise, and customs and excise duties together contribute 9 paise. The remaining 9 paise come from various other sources, showcasing a diverse revenue stream. Turning the focus to expenditures, one-fifth of the government's budget goes into paying interest on loans, reflecting the economic challenge of managing existing debt. As a federal country, every 16 paise earned is shared with the states and union territories, emphasising cooperative fiscal responsibility. Government schemes account for at least 24 paise. Pensions and subsidies make up 10 paise, while defence spending constitutes 8 paise. Finance Commission-related fund transfers and other expenses collectively take away the remaining 22 paise. This comprehensive breakdown of how each rupee is earned and spent provides a glimpse into India's economic health and its ambitious goal to emerge as a developed country by 2047.

Interim Budget 2024: How India's government earns and spends every rupee

All eyes are on the upcoming Interim Budget for 2024-2025, a crucial temporary financial plan designed to sustain essential government services until the new administration takes charge post-elections. Finance Minister Nirmala Sitharaman is poised to present the Interim Budget 2024 during the Parliament's Budget session.

Budget 2024: Will India's budget hike standard deduction under the new tax regime?

Indian Finance Minister Nirmala Sitharaman is set to present the Interim Budget 2024 today against the backdrop of impending Lok Sabha elections. The Budget is anticipated to emphasize a prudent fiscal approach, prioritizing infrastructure investments over populist measures.

Budget 2024: Expectations from FM Nirmala Sitharaman's sixth budget

Union Finance Minister Nirmala Sitharaman's sartorial choices have always been discussed. The Finance Minister is known to have an exquisite collection of sarees - a traditional garment worn by Indian women - and her saree choices each year while presenting the union budget are also keenly observed and discussed.&nbsp; 
 
On Thursday, as Sitharaman stepped out of the Ministry of Finance at the Central Secretariat with her team and posed for the media outside, she looked resplendent in a blue and cream saree.&nbsp; 
 
Nirmala Sitharaman's saree for Budget 2024 
 
Sitharaman wore a blue and cream printed silk saree with Kantha embroidery all over on Thursday as she went to the Rashtrapati Bhawan to meet&nbsp;Indian President Droupadi Murmu ahead of the interim Budget 2024.&nbsp; 
 
The saree in ash-blue colour had intricate motifs all over with Kantha embroidery. The embroidery is a specialised kind of thread design done mostly by the artisans of West Bengal.&nbsp;

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<a href="https://twitter.com/hashtag/WATCH?src=hash&amp;ref_src=twsrc%5Etfw">#WATCH</a> | Union Finance Minister Nirmala Sitharaman will present the interim budget today<a href="https://twitter.com/hashtag/Budget2024?src=hash&amp;ref_src=twsrc%5Etfw">#Budget2024</a> <a href="https://twitter.com/hashtag/NirmalaSitharaman?src=hash&amp;ref_src=twsrc%5Etfw">#NirmalaSitharaman</a> <a href="https://twitter.com/hashtag/BudgetSession2024?src=hash&amp;ref_src=twsrc%5Etfw">#BudgetSession2024</a> <a href="https://t.co/psiG3ZkaVP">pic.twitter.com/psiG3ZkaVP</a>
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Sitharaman teamed her blue saree with a cream blouse and a stole.&nbsp; 
 
With a red digital tablet in hand, Sitharaman looked elegant as she posed for photographs in front of the Ministry of Finance. She wore a small bindi, her hair was tied back and she wore a gold bangle. &nbsp;The colour of her saree this year was different. The Finance Minister in the past years has opted for sarees in colours of red, brown and yellow.&nbsp; 
 
Handloom saree lover 
 
The finance minister has promoted handloom sarees in the past. Here's a look at her sartorial choices in the past budget sessions.&nbsp; 
 
In 2023, Sitharaman wore a red and black temple border saree with Kasuti threadwork all over. A staunch supporter of traditional handlooms ever since she became the finance minister, Sitharaman has always opted to promote handloom sarees when presenting the Union Budget in the past years.&nbsp;

<img alt="h" data-entity-type="file" data-entity-uuid="b716f1bf-ae18-414a-a5fb-5cec65050e74" src="//cdn.wionews.com/sites/default/files/inline-images/ns4.jpg" /> 
 
In 2022, Sitharaman wore a rust and maroon handloom Bomkai saree typically weaved in Odisha. &nbsp;

<img alt="h" data-entity-type="file" data-entity-uuid="c86608d9-3544-4259-8bb5-b01620ae33d6" src="//cdn.wionews.com/sites/default/files/inline-images/ns3.JPG" /> 
 
In 2021, Sitharaman wore a classic red and off-white silk Pochampally sari with ikat patterns around the pallu with a green border. Pochampally ikat is traditionally made in the south Indian state of Telangana, also known as the 'silk city of India'. 
 
<img alt="h" data-entity-type="file" data-entity-uuid="cd1f0015-69f0-40a6-9926-89d1854284d4" src="//cdn.wionews.com/sites/default/files/inline-images/ns1_0.JPG" /> 
 
<img alt="j" data-entity-type="file" data-entity-uuid="92022484-f14c-43a2-aace-72ea6275c63f" src="//cdn.wionews.com/sites/default/files/inline-images/ns2.JPG" /> 
 
In 2020, Sitharaman opted for a bright yellow-gold silk saree. The yellow colour is often considered a sacred colour which stands for prosperity.

Union Finance Minister Nirmala Sitharaman's sartorial choices have always been discussed. The Finance Minister is known to have an exquisite collection of sarees - a traditional garment worn by Indian women - and her saree choices each year while presenting the union budget are also keenly observed and discussed.

Union Finance Minister Nirmala Sitharaman's sartorial choices have always been discussed. The Finance Minister is known to have an exquisite collection of sarees - a traditional garment worn by Indian women - and her saree choices each year while presenting the union budget are also keenly observed and discussed. On Thursday, as Sitharaman stepped out of the Ministry of Finance at the Central Secretariat with her team and posed for the media outside, she looked resplendent in a blue and cream saree. Nirmala Sitharaman's saree for Budget 2024 Sitharaman wore a blue and cream printed silk saree with Kantha embroidery all over on Thursday as she went to the Rashtrapati Bhawan to meet Indian President Droupadi Murmu ahead of the interim Budget 2024. The saree in ash-blue colour had intricate motifs all over with Kantha embroidery. The embroidery is a specialised kind of thread design done mostly by the artisans of West Bengal. #WATCH | Union Finance Minister Nirmala Sitharaman will present the interim budget today#Budget2024 #NirmalaSitharaman #BudgetSession2024 pic.twitter.com/psiG3ZkaVP — WION (@WIONews) February 1, 2024 × Sitharaman teamed her blue saree with a cream blouse and a stole. With a red digital tablet in hand, Sitharaman looked elegant as she posed for photographs in front of the Ministry of Finance. She wore a small bindi, her hair was tied back and she wore a gold bangle. The colour of her saree this year was different. The Finance Minister in the past years has opted for sarees in colours of red, brown and yellow. Handloom saree lover The finance minister has promoted handloom sarees in the past. Here's a look at her sartorial choices in the past budget sessions. In 2023, Sitharaman wore a red and black temple border saree with Kasuti threadwork all over. A staunch supporter of traditional handlooms ever since she became the finance minister, Sitharaman has always opted to promote handloom sarees when presenting the Union Budget in the past years. In 2022, Sitharaman wore a rust and maroon handloom Bomkai saree typically weaved in Odisha. In 2021, Sitharaman wore a classic red and off-white silk Pochampally sari with ikat patterns around the pallu with a green border. Pochampally ikat is traditionally made in the south Indian state of Telangana, also known as the 'silk city of India'. In 2020, Sitharaman opted for a bright yellow-gold silk saree. The yellow colour is often considered a sacred colour which stands for prosperity.

Nirmala Sitharaman opts for blue silk saree with kantha work to present Budget 2024

A positive build-up was reflected in Indian markets prior to the Interim Budget. Indian Finance Minister Nirmala Sitharaman is set to present the Interim Budget 2024 today against the backdrop of impending Lok Sabha elections.

Budget 2024: Indian markets marginally up ahead of interim budget

India is set to present its interim budget on February 1. Finance Minister Nirmala Sitharaman will present the interim budget in Parliament. But, what is the interim budget?

Budget 2024: What is an interim budget & how it is different from the union budget?

Budget 2024: Indian stocks defy global markets slump ahead of budget

India's Finance Minister Nirmala Sitharaman has presented the interim 2024 Union Budget. What were the key takeaways from her speech? @mollygambhir takes you through the big announcements.

Gravitas | Union Budget 2024: The key highlights

Budget 2024: India to unveil interim budget ahead of polls in April-May

Budget 2024: India to focus on the path of fiscal discipline

All eyes have turned to Indian Finance Minister Nirmala Sitharaman who will present the Interim Budget 2024-25 at Parliament today. The interim budget will provide estimates of the government's expenditure, revenue, fiscal deficit, financial performance, and projections for the upcoming months.

Budget 2024: India's aim to bring down fiscal deficit on track

Budget 2024: Will this Interim Budget bring big reforms for tax payers?

Budget 2024: Farmers, women, the poor and young people are priority

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