Indian Finance Minister Nirmala Sitharaman stated that the government is striving to transform India into 'Viksit Bharat by 2047. She emphasized the commitment to inclusive development with the mantra of "Sabka Sath, Sabka Vikas".

Budget 2024: Government working to transform India into 'Viksit Bharat' , says Nirmala Sitharaman

Indian Finance Minister Nirmala Sitharaman said that, empowerment of women through entrepreneurship, ease of living and dignity has gained momentum in last 10 years. She also added that female enrollment in higher education has gone up by 28% in 10 years whereas in STEM courses, girls and women constitute 43% of enrollment, one of the highest in the world.

Budget 2024: Empowerment of Women has gained momentum in last 10 years, says Nirmala Sitharaman

Indian Finance Minister Nirmala Sitharaman presented her sixth Budget on February 1. This was just an ‘interim Budget’ since the term of the current government will end soon and the country will go to polls. Watch in the key takeaways from the budget 2024.

Budget 2024: No changes in tax slabs, direct and indirect tax rates

With confidence arising from the exemplary track record of progress, earning sabka viswas the next 5 years will be of unprecedented development, said Indian FM Nirmala Sitharaman.

Budget 2024: Earning Sabka Vishwas, next 5 years will be years of unprecedented development, says FM

Indian Prime Minister Narendra Modi, during an address outside Parliament on Wednesday ahead of the Budget Session, had a word of advice for fellow legislators, stating that MPs who habitually disrupt Parliament proceedings should introspect.

Budget 2024: Indian PM Modi addresses the press ahead of Budget session

Ahead of the interim budget, the Indian government released a concise report on the economy's health. The report suggests India could become a 5 trillion-dollar economy within the next three years.

Budget 2024: India's economic health report

As the world’s fifth-largest economy waits for the interim budget scheduled to be presented on Thursday (Feb 1) by the Indian Finance Minister Nirmala Sitharaman, all eyes are on the infrastructure sector, particularly railways. Over the years, the current government has allocated thousands of crores to the development of the country’s railways, and this year is expected to be no different.

<h2>Railway Budget 2023-24</h2>

The Indian Railway Ministry was allocated a record $28.9 billion (Rs 2.4 lakh crore) in budgetary support for the financial year 2023-24. The minister said the amount was nine times what was allocated in the FY 2013-14.&nbsp;

WATCH |&nbsp;Budget 2024: Indian parliament's budget session begins

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Between April 1, 2023, and December 31, 2023 – in the first nine months of the fiscal year, the Indian Railways witnessed a record capital expenditure (capex) with 75 per cent of the total allocated capex budget spent, according to the official data.&nbsp;

This also includes a massive $22 billion (Rs 1.85 lakh crore) which had been allocated for capital expenditure in the current fiscal taking the total to $31.5 billion (Rs 2.62 lakh crore).&nbsp;

The 75 per cent of the total allocated funds spent amounts to a whopping $23.6 billion (Rs 1.95 lakh crore) which according to the government, was dedicated to infrastructural development and passenger safety of the Indian Railways. &nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/business-economy/budget-2024-what-to-expect-for-the-defence-sector-685589">Budget 2024: What to expect for the defence sector</a>

The funds are also dedicated to crucial projects such as the development of new rail lines, the doubling of existing lines, gauge conversion, and the enhancement of passenger amenities, said the government.

The allocated funds were to be used to build new trains, and railway tracks as well as increase passenger facilities and ramp up the infrastructure to a world-class level.&nbsp;

In 2023, the Indian Railways witnessed dozens of new Vande Bharat trains, along new routes, as well as the redevelopment of railway stations.&nbsp;

<h2>What’s in store for Railways in Budget 2024?</h2>

The announcement on Thursday is only an interim one and it will provide an outline of what can be expected for the actual budget after the 2024 general elections when the new government takes over.&nbsp;

This will be Sitharaman’s sixth budget in a row as finance minister in Prime Minister Narendra Modi’s cabinet and comes ahead of crucial national elections where the incumbent PM will seek&nbsp;a third consecutive term in power.&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/india-news/budget-2024-will-there-be-income-tax-reform-685558">Budget 2024: Will there be Income Tax reforms?</a>

Analysts, as per media reports, are optimistic that the upcoming budget will witness a surge in the capex spending on infrastructure, especially the railway sector.&nbsp;

It is also believed that the proposed India-Middle East-Europe economic corridor – an ambitious project to connect India, Saudi Arabia, the United Arab Emirates (UAE) and Europe – will not only give a major boost to the sector but also be a long-term growth driver.

Therefore, rail stocks are expected to keep up the momentum in 2024 as well.&nbsp;

(With inputs from agencies) 
&nbsp;

As the world’s fifth-largest economy waits for the interim budget scheduled to be presented on Thursday (Feb 1) by the Indian Finance Minister Nirmala Sitharaman, all eyes are on the infrastructure sector, particularly railways.

As the world’s fifth-largest economy waits for the interim budget scheduled to be presented on Thursday (Feb 1) by the Indian Finance Minister Nirmala Sitharaman, all eyes are on the infrastructure sector, particularly railways. Over the years, the current government has allocated thousands of crores to the development of the country’s railways, and this year is expected to be no different. Railway Budget 2023-24 The Indian Railway Ministry was allocated a record $28.9 billion (Rs 2.4 lakh crore) in budgetary support for the financial year 2023-24. The minister said the amount was nine times what was allocated in the FY 2013-14. WATCH | Budget 2024: Indian parliament's budget session begins Between April 1, 2023, and December 31, 2023 – in the first nine months of the fiscal year, the Indian Railways witnessed a record capital expenditure (capex) with 75 per cent of the total allocated capex budget spent, according to the official data. This also includes a massive $22 billion (Rs 1.85 lakh crore) which had been allocated for capital expenditure in the current fiscal taking the total to $31.5 billion (Rs 2.62 lakh crore). The 75 per cent of the total allocated funds spent amounts to a whopping $23.6 billion (Rs 1.95 lakh crore) which according to the government, was dedicated to infrastructural development and passenger safety of the Indian Railways. ALSO READ | Budget 2024: What to expect for the defence sector The funds are also dedicated to crucial projects such as the development of new rail lines, the doubling of existing lines, gauge conversion, and the enhancement of passenger amenities, said the government. The allocated funds were to be used to build new trains, and railway tracks as well as increase passenger facilities and ramp up the infrastructure to a world-class level. In 2023, the Indian Railways witnessed dozens of new Vande Bharat trains, along new routes, as well as the redevelopment of railway stations. What’s in store for Railways in Budget 2024? The announcement on Thursday is only an interim one and it will provide an outline of what can be expected for the actual budget after the 2024 general elections when the new government takes over. This will be Sitharaman’s sixth budget in a row as finance minister in Prime Minister Narendra Modi’s cabinet and comes ahead of crucial national elections where the incumbent PM will seek a third consecutive term in power. ALSO READ | Budget 2024: Will there be Income Tax reforms? Analysts, as per media reports, are optimistic that the upcoming budget will witness a surge in the capex spending on infrastructure, especially the railway sector. It is also believed that the proposed India-Middle East-Europe economic corridor – an ambitious project to connect India, Saudi Arabia, the United Arab Emirates (UAE) and Europe – will not only give a major boost to the sector but also be a long-term growth driver. Therefore, rail stocks are expected to keep up the momentum in 2024 as well. (With inputs from agencies)

Budget 2024: What to expect for India’s railway sector?

The upcoming Indian budget session commences today with President Droupadi Murmu's address to the joint sitting of both Houses. The vote on account will be presented tomorrow.

India Budget 2024: President Murmu to address both houses as budget session set to begin

With the Indian government focusing on big-ticket infrastructure projects, India's upcoming budget is likely to maintain the focus on capital expenditure. In the current fiscal year, the government intends to spend about $120 billion.

India Budget 2024: Capital expenditure to get a boost in interim budget?

As India's energy sector charts a course towards a greener future, the anticipation of substantial budgetary support from the government underscores the nation's commitment to self-reliance and sustainable development goals. In this report, we delve into India's ambitious vision of becoming a self-reliant powerhouse for its energy needs.

India Budget 2024: India's energy sector charged-up ahead of budget

As India gears up for its interim budget in an election year, Prime Minister Narendra Modi's Bharatiya Janata Party (BJP) aims to strike a balance between fiscal responsibility and popular measures. According to a recent Reuters poll of 41 economists, the government is expected to target a reduced fiscal deficit of 5.30 per cent of GDP in the 2024-25 fiscal year, down from the current year's 5.90 per cent. Despite increased capital expenditure, an emphasis on infrastructure investment is anticipated, with the government eyeing a fiscal deficit of 4.50 per cent by the end of 2025-26.<o:p></o:p>

In the ongoing fiscal year, capital spending in India has soared over 33 per cent, exceeding $120 billion, and is projected to further rise by 15 per cent in the next fiscal year. The surge in government investment has been a key driver of the country's economic growth. Economists emphasise the need for sustained improvements in India's infrastructure to stimulate private investment. However, there is a consensus that enhancing human capital through increased spending on education should be a top priority for long-term, inclusive growth.<o:p></o:p>

The consensus among economists points to infrastructure investment as the top budget priority (34 respondents), followed by rural development (17) and job creation (16). Despite the need for a focus on education and healthcare, none of the economists cited these areas as the main budget priorities. The emphasis on infrastructure investment aligns with the government's goal to fuel economic expansion and revive the private investment cycle.<o:p></o:p>

Challenges persist in India's growth landscape, with modest aggregate domestic demand and notable absence of private non-infrastructure business capital expenditure. While the wealthy continue to drive demand, the informal sector, especially micro, small, and medium enterprises (MSMEs), grapples with stress, particularly in rural areas. As the budget balances competing priorities, a cautious approach is warranted in addressing growth challenges and supporting sectors facing ongoing struggles.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

As India gears up for its interim budget in an election year, Prime Minister Narendra Modi's Bharatiya Janata Party (BJP) aims to strike a balance between fiscal responsibility and popular measures.

As India gears up for its interim budget in an election year, Prime Minister Narendra Modi's Bharatiya Janata Party (BJP) aims to strike a balance between fiscal responsibility and popular measures. According to a recent Reuters poll of 41 economists, the government is expected to target a reduced fiscal deficit of 5.30 per cent of GDP in the 2024-25 fiscal year, down from the current year's 5.90 per cent. Despite increased capital expenditure, an emphasis on infrastructure investment is anticipated, with the government eyeing a fiscal deficit of 4.50 per cent by the end of 2025-26. In the ongoing fiscal year, capital spending in India has soared over 33 per cent, exceeding $120 billion, and is projected to further rise by 15 per cent in the next fiscal year. The surge in government investment has been a key driver of the country's economic growth. Economists emphasise the need for sustained improvements in India's infrastructure to stimulate private investment. However, there is a consensus that enhancing human capital through increased spending on education should be a top priority for long-term, inclusive growth. The consensus among economists points to infrastructure investment as the top budget priority (34 respondents), followed by rural development (17) and job creation (16). Despite the need for a focus on education and healthcare, none of the economists cited these areas as the main budget priorities. The emphasis on infrastructure investment aligns with the government's goal to fuel economic expansion and revive the private investment cycle. Challenges persist in India's growth landscape, with modest aggregate domestic demand and notable absence of private non-infrastructure business capital expenditure. While the wealthy continue to drive demand, the informal sector, especially micro, small, and medium enterprises (MSMEs), grapples with stress, particularly in rural areas. As the budget balances competing priorities, a cautious approach is warranted in addressing growth challenges and supporting sectors facing ongoing struggles. (With inputs from Reuters)

India's upcoming budget likely to target lower fiscal deficit, says Reuters poll

India will unveil an interim budget on February 1 and all eyes would be on announcements that could empower India's women.

Budget 2024: gender parity in focus

In a rapidly evolving world, the Indian healthcare sector is at a crucial juncture, poised for transformative changes. As we approach budget for India, the healthcare industry has outlined key areas for attention, presenting an opportunity to address critical gaps.

Healthcare wishlist for India Budget 2024

NATHEALTH-Healthcare Federation of India on Tuesday asked the government to increase budget allocation on health to 2.5 per cent of GDP while also calling for a restructuring of the healthcare GST framework.

India Budget 2024: Experts advocate boosting healthcare allocation to 2.5% of GDP

The anticipation is high as we approach the Indian Budget 2024. Now we focus on the Fintech sector and the specific schemes that could reshape its trajectory. From innovations to inclusivity, the budget is expected to unfold crucial initiatives.

Fintech's expectations in Indian Budget 2024

The Union Budget holds the key to India's financial roadmap. We delve into the intricacies of one of its pivotal elements – the fiscal deficit. Our report uncovers the nuances of India's fiscal strategy for the upcoming financial year.

India Budget 2024: Decoding economic roadmap; focus on fiscal deficit

It's 2024, and India's budget session is just a few weeks away. India is set to vote for a new government in April-May 2024. So, this year's budget holds a lot of political significance. But how will this year's budget be different from others?

Full Budget vs Vote on account: Why India's 2024 Budget will be different?

India's Budget 2024: FM Nirmala Sitharaman hints at vote on account on Feb 1

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