Indian Finance Minister Nirmala Sitharaman presented the Union Budget to Lok Sabha. The budget is considered the action plan for the Modi 3.0 govt to outline a roadmap towards India's development in the next five years.

Budget 2024 highlights: Focus on taxes, jobs and consumer products

Union Budget 2024: Finance Minister Nirmala Sitharaman presented the budget for fiscal year 2024-25 on Tuesday (Jul 23). &nbsp;The major focus of the entire budget this year was on job creation and how to ease the process of embracing more people into an organised workforce.

Given this, Sitharaman announced three schemes under employment-linked incentives and said the government will allocate Rs 2 lakh crore for job creation over the next five years.

<h3>Scheme A: First timers</h3>

The Finance Minister announced&nbsp;a Direct Benefit Transfer (DBT) of 1 month's salary in 3 instalments of up to Rs 15,000 to first-time employees registered in EPFO.

<h3>Scheme B: Job creation in manufacturing sector</h3>

The government will also create jobs in the manufacturing sector by providing incentives, as per Sitharaman’s speech. The manufacturing incentives will be provided directly to both employees and employers as per their EPFO contribution in the first four years of employment.&nbsp;

<h3>Scheme C: Support of Employers</h3>

Under this scheme, the government will provide reimbursement to employers up to 3,000 per month for 2 years towards their EPFO contribution for each additional employee.

Also Read |&nbsp;<a href="https://www.wionews.com/india-news/india-budget-2024-sitharaman-allocates-rs-148-lakh-crore-for-education-employment-skilling-743355">India Budget 2024: Sitharaman allocates Rs 1.48 lakh crore for education, employment, &amp; skilling</a>

Presenting the Budget in the Lok Sabha, Nirmala Sitharaman also announced ₹1.48 lakh crore for education, employment and skills in the country.

She said the Budget 2024 focuses on employment, skilling, MSMEs and the middle class. “As mentioned in interim budget, we need to focus on the poor, women, youth and farmers,” Sitharaman said.

<h3>Internship opportunities for youth&nbsp;</h3>

In a major step towards increasing the skilled workforce, the government announces the launch of a scheme to provide internship opportunities to 1 crore youth in 500 top companies with a Rs 5,000 per month internship allowance and one-time assistance of Rs 6,000.&nbsp;

Sitharaman announced, "An internship allowance of ` 5,000 per month along with a one-time assistance of ` 6,000 will be provided. Companies will be expected to bear the training cost and 10 per cent of the internship cost from their CSR funds."

<h3>Women in workforce</h3>

Sitharaman also emphasised on including more women into workforce through setting up working women hostels.&nbsp;

"We will facilitate higher participation of women in the workforce through setting up of working women hostels in collaboration with industry, and establishing creches," said Finance Minister.&nbsp;

Also Read |&nbsp;<a href="https://www.wionews.com/india-news/union-budget-2024-heres-what-nitishs-bihar-and-naidus-andhra-gets-for-being-key-allies-743362">Union Budget 2024: Here's what Nitish's Bihar and Naidu's Andhra gets for being key allies</a>

In addition, the partnership will seek to organize women-specific skilling programmes and promotion of market access for women SHG enterprises.

<h3>Skilling programmes</h3>

In a new-centrally sponsored scheme, as part of the 4th scheme under the Prime Minister's package, the Finance Minister announced a skilling programme in collaboration with state governments and Industry.&nbsp;

"20 lakh youth will be skilled over a 5-year period. 1,000 Industrial Training Institutes will be upgraded in the hub and spoke arrangements with outcome orientation. Course content and design will be aligned to the skill needs of the industry, and new courses will be introduced for emerging needs," said Sitharaman.&nbsp;

<h3>Pradhan Mantri Janjatiya Unnat Gram Abhiyan&nbsp;</h3>

To improve the socio-economic condition of tribal communities, the government will launch the Pradhan Mantri Janjatiya Unnat Gram Abhiyan by adopting saturation coverage for tribal families in tribal-majority villages and aspirational districts. This will cover 63,000 villages benefitting 5 crore tribal people, as per the Finance Minister's speech.&nbsp;

Also Read |&nbsp;<a href="https://www.wionews.com/india-news/union-budget-2024-fm-sitharaman-makes-big-announcement-on-income-tax-heres-all-you-need-to-know-743371">Union Budget 2024: FM Sitharaman makes big announcements on Income Tax. Here's all you need to know</a>

<h3>PM Surya Ghar Muft Bijli Yojana</h3>

In line with the announcement in the interim budget, PM Surya Ghar Muft Bijli Yojana has been launched to install rooftop solar plants to enable 1 crore households to obtain free electricity up to 300 units every month.&nbsp;

<h3>Skilling and Education Loans</h3>

The Model Skill Loan Scheme will be revised to facilitate loans up to Rs 7.5 lakh with a guarantee from&nbsp;government-promoted Fund. This measure is expected to help 25,000 students every year.

To help our youth who have not been eligible for any benefit under government schemes and policies, the government announced financial support for loans up to Rs 10 lakh for higher education in domestic institutions. E-vouchers for this purpose will be given directly to 1 lakh students every year for annual interest subvention of 3 per cent of the loan amount.&nbsp;

(With inputs from agencies)

Union Budget 2024: Finance Minister Nirmala Sitharaman presented the budget for fiscal year 2024-25 on Tuesday (Jul 23). The major focus of the entire budget this year was on job creation and how to ease the process of embracing more people into an organised workforce.

Union Budget 2024: Finance Minister Nirmala Sitharaman presented the budget for fiscal year 2024-25 on Tuesday (Jul 23). The major focus of the entire budget this year was on job creation and how to ease the process of embracing more people into an organised workforce. Given this, Sitharaman announced three schemes under employment-linked incentives and said the government will allocate Rs 2 lakh crore for job creation over the next five years. Scheme A: First timers The Finance Minister announced a Direct Benefit Transfer (DBT) of 1 month's salary in 3 instalments of up to Rs 15,000 to first-time employees registered in EPFO. Scheme B: Job creation in manufacturing sector The government will also create jobs in the manufacturing sector by providing incentives, as per Sitharaman’s speech. The manufacturing incentives will be provided directly to both employees and employers as per their EPFO contribution in the first four years of employment. Scheme C: Support of Employers Under this scheme, the government will provide reimbursement to employers up to 3,000 per month for 2 years towards their EPFO contribution for each additional employee. Also Read | India Budget 2024: Sitharaman allocates Rs 1.48 lakh crore for education, employment, & skilling Presenting the Budget in the Lok Sabha, Nirmala Sitharaman also announced ₹1.48 lakh crore for education, employment and skills in the country. She said the Budget 2024 focuses on employment, skilling, MSMEs and the middle class. “As mentioned in interim budget, we need to focus on the poor, women, youth and farmers,” Sitharaman said. Internship opportunities for youth In a major step towards increasing the skilled workforce, the government announces the launch of a scheme to provide internship opportunities to 1 crore youth in 500 top companies with a Rs 5,000 per month internship allowance and one-time assistance of Rs 6,000. Sitharaman announced, "An internship allowance of ` 5,000 per month along with a one-time assistance of ` 6,000 will be provided. Companies will be expected to bear the training cost and 10 per cent of the internship cost from their CSR funds." Women in workforce Sitharaman also emphasised on including more women into workforce through setting up working women hostels. "We will facilitate higher participation of women in the workforce through setting up of working women hostels in collaboration with industry, and establishing creches," said Finance Minister. Also Read | Union Budget 2024: Here's what Nitish's Bihar and Naidu's Andhra gets for being key allies In addition, the partnership will seek to organize women-specific skilling programmes and promotion of market access for women SHG enterprises. Skilling programmes In a new-centrally sponsored scheme, as part of the 4th scheme under the Prime Minister's package, the Finance Minister announced a skilling programme in collaboration with state governments and Industry. "20 lakh youth will be skilled over a 5-year period. 1,000 Industrial Training Institutes will be upgraded in the hub and spoke arrangements with outcome orientation. Course content and design will be aligned to the skill needs of the industry, and new courses will be introduced for emerging needs," said Sitharaman. Pradhan Mantri Janjatiya Unnat Gram Abhiyan To improve the socio-economic condition of tribal communities, the government will launch the Pradhan Mantri Janjatiya Unnat Gram Abhiyan by adopting saturation coverage for tribal families in tribal-majority villages and aspirational districts. This will cover 63,000 villages benefitting 5 crore tribal people, as per the Finance Minister's speech. Also Read | Union Budget 2024: FM Sitharaman makes big announcements on Income Tax. Here's all you need to know PM Surya Ghar Muft Bijli Yojana In line with the announcement in the interim budget, PM Surya Ghar Muft Bijli Yojana has been launched to install rooftop solar plants to enable 1 crore households to obtain free electricity up to 300 units every month. Skilling and Education Loans The Model Skill Loan Scheme will be revised to facilitate loans up to Rs 7.5 lakh with a guarantee from government-promoted Fund. This measure is expected to help 25,000 students every year. To help our youth who have not been eligible for any benefit under government schemes and policies, the government announced financial support for loans up to Rs 10 lakh for higher education in domestic institutions. E-vouchers for this purpose will be given directly to 1 lakh students every year for annual interest subvention of 3 per cent of the loan amount. (With inputs from agencies)

Budget 2024: Internship scheme, incentive for first-time employees- All top government schemes announced

Indian Finance Minister Nirmala Sitharaman on Tuesday (July 23) announced that five schemes will be introduced to provide employment that will benefit 4.1 crore youth with an outlay of Rs 2 lakh crores while presenting the 2024 Union Budget&nbsp;in the Parliament.&nbsp;

"I am happy to announce the Prime Minister's package of 5 schemes and initiatives to facilitate employment, skilling and other opportunities for 4.1 crore youth over 5 years with a central outlay of Rs 2 lakh crores. This year we have made a provision of Rs 1.48 lakh crores for education, employment and skilling," Sitharaman said.&nbsp;

"Our govt will implement three schemes for employment-linked incentives as part of the Prime Minister's package. These will be based on enrollment in the EPFO and focus on recognition of the first time employees and support to employees and employers," the finance minister added.&nbsp;

Also Read:&nbsp;<a href="https://www.wionews.com/india-news/union-budget-2024-nirmala-sitharamans-budget-already-set-a-record-heres-how-743295">Union Budget 2024: Nirmala Sitharaman's budget already set a record. Here's how.</a>

"One month wage to all persons newly entering the workplace in all formal sectors. Direct Benefit Transfer of one month salary in 3 instalments to first-time employees as registered in the EPFO will be up to Rs 15,000. The eligibility limit will be a salary of Rs 1 lakh per month. The scheme will benefit 210 lakh youth,"&nbsp;Sitharaman further said.&nbsp;

The FM&nbsp;also announced financial support for higher education loans.

"Government to provide financial support for loans up to Rs 10 lakhs for higher education in domestic institutions," she said.&nbsp;

<h2>FM Sitharaman highlights Modi 3.0 government's nine priority areas</h2>

FM Sitharaman&nbsp;said that&nbsp;the 2024 Union Budget&nbsp;will build the path for the future and emphasised the nine priority areas for the Modi 3.0 government.

These nine areas are: productivity and resilience in agriculture, employment and skilling, improved human resources, social justice, manufacturing and services, urban development, energy security, infrastructure, innovation, research and development, and next-gen reforms.

Watch:&nbsp;India Budget: Government's take in focus

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/india-budget-governments-take-in-focus-743224/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

"The Budget envisages sustained efforts on nine priority areas for generating ample opportunities for all. Future budgets will build on these priorities of the 2024 Budget," the finance minister said.

(With inputs from agencies)

Indian Finance Minister Nirmala Sitharaman on Tuesday (July 23) announced that five schemes will be introduced to provide employment that will benefit 4.1 crore youth with an outlay of Rs 2 lakh crores while presenting the 2024 Union Budget in the Parliament.

Indian Finance Minister Nirmala Sitharaman on Tuesday (July 23) announced that five schemes will be introduced to provide employment that will benefit 4.1 crore youth with an outlay of Rs 2 lakh crores while presenting the 2024 Union Budget in the Parliament. "I am happy to announce the Prime Minister's package of 5 schemes and initiatives to facilitate employment, skilling and other opportunities for 4.1 crore youth over 5 years with a central outlay of Rs 2 lakh crores. This year we have made a provision of Rs 1.48 lakh crores for education, employment and skilling," Sitharaman said. "Our govt will implement three schemes for employment-linked incentives as part of the Prime Minister's package. These will be based on enrollment in the EPFO and focus on recognition of the first time employees and support to employees and employers," the finance minister added. Also Read: Union Budget 2024: Nirmala Sitharaman's budget already set a record. Here's how. "One month wage to all persons newly entering the workplace in all formal sectors. Direct Benefit Transfer of one month salary in 3 instalments to first-time employees as registered in the EPFO will be up to Rs 15,000. The eligibility limit will be a salary of Rs 1 lakh per month. The scheme will benefit 210 lakh youth," Sitharaman further said. The FM also announced financial support for higher education loans. "Government to provide financial support for loans up to Rs 10 lakhs for higher education in domestic institutions," she said. FM Sitharaman highlights Modi 3.0 government's nine priority areas FM Sitharaman said that the 2024 Union Budget will build the path for the future and emphasised the nine priority areas for the Modi 3.0 government. These nine areas are: productivity and resilience in agriculture, employment and skilling, improved human resources, social justice, manufacturing and services, urban development, energy security, infrastructure, innovation, research and development, and next-gen reforms. Watch: India Budget: Government's take in focus "The Budget envisages sustained efforts on nine priority areas for generating ample opportunities for all. Future budgets will build on these priorities of the 2024 Budget," the finance minister said. (With inputs from agencies)

Union Budget 2024: Govt announces five schemes for employment and skilling, allocates Rs 2 lakh crores

Indian Finance Minister Nirmala Sitharaman is currently presenting the Union Budget in Lok Sabha. The Budget is being considered the action plan for the Modi 3.0 govt to outline a roadmap towards India's development in the next five years.

Budget 2024: Standard deductions for salaried employees raised to INR 75,000

Budget 2024: Religious tourism gets transformative promise from govt

Budget 2024 updates: TDS rates for e-commerce operators reduced

It's time for India's Union Budget presentation today as the country gears up for a pivotal moment in its economic roadmap. All eyes are on New Delhi as Finance Minister Nirmala Sitharaman presents the Union Budget of India.

India Budget: Government's take in focus for Union Budget 2024

Nirmala Sitharaman while presenting the Budget 2024 focussed on women development and said, 'Government will set up working women hostels to promote women participation in workforce. Government will allocate over Rs 3 lakh crore for schemes benefiting women, girls.'

Budget 2024: FM Sitharaman says 'govt to set up women hostels to promote participation in workforce'

Budget 2024: Coalition partners get a boost as special schemes announced for AP, Bihar

Indian Finance Minister Nirmala Sitharaman will on Monday (July 22) table the Economic Survey in Parliament- a day before she presents the full budget for the financial year 2024-25.

Indian Finance Minister Nirmala Sitharaman will on Monday (July 22) table the Economic Survey in Parliament- a day before she presents the full budget for the financial year 2024-25. The survey would give insights into the state of the economy and various indicators of the financial year 2023-24 (April 1 to March 31) and would share some outlook for the current year. All eyes will be on the major announcements made by the finance minister and the government's forward-looking guidance about the overall economy. The Economic Survey is prepared by the Economic Division of the Department of Economic Affairs in the Ministry of Finance and formulated under the supervision of the chief economic adviser (CEA). The timing of the survey presentation The survey 2023-24 will be presented in Lok Sabha at 1 pm and in Rajya Sabha at 2 pm, followed by a press conference by CEA Nageswaran. The first such survey came into existence in 1950-51, when it used to be a part of the budget documents. Also read | Union Budget 2024: Date, time, where to watch Nirmala Sitharaman’s full budget speech live | Complete guide In the 1960s, it was separated from the Budget documents and presented the day before the Union Budget. The most important feature that many will look out for is its central theme. Last year, the theme was "Recovery complete," when the economy staged a broad-based recovery from pandemic-induced contraction, the Russia-Ukraine war, and inflation, and ascended to the pre-pandemic growth path. Meanwhile. in 2022, the theme was "Agile Approach", which emphasised India's economic response to the COVID-19 pandemic shock. A look at Budget Day On Tuesday, Finance Minister Sitharaman will present the budget at 11 am. The budget speech will outline the government's fiscal policies, revenue and expenditure proposals, taxation reforms, and other significant announcements. Also watch | India Budget 2024: What are India's youth expecting? × The budget is then subjected to detailed debate and discussion in both houses of Parliament, allowing members to scrutinise its provisions, raise concerns, and propose amendments. On the morning of the budget day, Sitharaman will go to the North Block, where the finance ministry is housed. She will meet the secretaries of her ministry, and later, along with them, she will reach the President's residence to get permission before presenting the budget. Half an hour before the budget is presented, a Cabinet meeting headed by the Prime Minister is usually held, where ministers are briefed about the budget and Cabinet approval is taken. (With inputs from agencies)

India's Economic Survey to be tabled in Parliament today

The Indian economy continues to demonstrate resilience and stability despite global geopolitical challenges, according to the Economic Survey 2023-24. Presenting the 476-page Economic Survey in the Indian Parliament on Monday (July 22), Union Finance Minister Nirmala Sitharaman said that the Indian economy has successfully consolidated its post-Covid recovery.&nbsp;

As per the survey, both fiscal and monetary policymakers have played pivotal roles in ensuring economic and financial stability and have led to continued economic expansion.&nbsp;

However, the survey said that global market volatility means that for a country with high growth aspirations, change is the only constant.

Also read |&nbsp;<a href="https://www.wionews.com/india-news/budget-session-of-indian-parliament-modi-asks-all-political-parties-to-rise-above-party-lines-742974">Budget session of Indian Parliament: Modi urges political parties to rise above party lines</a>

<h2>Investment momentum</h2>

As per the Survey document, for a sustained recovery, "there has to be heavy lifting".

"For the recovery to be sustained, there has to be heavy lifting on the domestic front because the environment has become extraordinarily difficult to reach agreements on key global issues such as trade, investment and climate," read the Survey.

"Public investment has sustained capital formation in the last several years even as the private sector shed its balance sheet blues and began investing in FY22. Now, it has to receive the baton from the public sector and sustain the investment momentum in the economy," it added.

Also read |&nbsp;<a href="https://www.wionews.com/india-news/indias-economic-survey-to-be-tabled-in-parliament-today-742963">India's Economic Survey to be tabled in Parliament today</a>

"The signs are encouraging," the survey notes, citing the robust economic growth rates of 9.7 per cent and 7.0 per cent in the previous two financial years leading up to FY24.

The survey report adds that the headline inflation rate remains largely under control, even as specific food items have seen elevated inflation rates. The trade deficit in FY24 was lower compared to FY23, and the current account deficit stands at approximately 0.7 per cent of GDP. Additionally, the current account registered a surplus in the last quarter of the financial year, and foreign exchange reserves have been deemed ample.

(With inputs from agencies)

The Indian economy continues to demonstrate resilience and stability despite global geopolitical challenges, according to the Economic Survey 2023-24. Presenting the 476-page Economic Survey in the Indian Parliament on Monday (July 22), Union Finance Minister Nirmala Sitharaman said that the Indian economy has successfully consolidated its post-Covid recovery.

The Indian economy continues to demonstrate resilience and stability despite global geopolitical challenges, according to the Economic Survey 2023-24. Presenting the 476-page Economic Survey in the Indian Parliament on Monday (July 22), Union Finance Minister Nirmala Sitharaman said that the Indian economy has successfully consolidated its post-Covid recovery. As per the survey, both fiscal and monetary policymakers have played pivotal roles in ensuring economic and financial stability and have led to continued economic expansion. However, the survey said that global market volatility means that for a country with high growth aspirations, change is the only constant. Also read | Budget session of Indian Parliament: Modi urges political parties to rise above party lines Investment momentum As per the Survey document, for a sustained recovery, "there has to be heavy lifting". "For the recovery to be sustained, there has to be heavy lifting on the domestic front because the environment has become extraordinarily difficult to reach agreements on key global issues such as trade, investment and climate," read the Survey. "Public investment has sustained capital formation in the last several years even as the private sector shed its balance sheet blues and began investing in FY22. Now, it has to receive the baton from the public sector and sustain the investment momentum in the economy," it added. Also read | India's Economic Survey to be tabled in Parliament today "The signs are encouraging," the survey notes, citing the robust economic growth rates of 9.7 per cent and 7.0 per cent in the previous two financial years leading up to FY24. The survey report adds that the headline inflation rate remains largely under control, even as specific food items have seen elevated inflation rates. The trade deficit in FY24 was lower compared to FY23, and the current account deficit stands at approximately 0.7 per cent of GDP. Additionally, the current account registered a surplus in the last quarter of the financial year, and foreign exchange reserves have been deemed ample. (With inputs from agencies)

Economic Survey 2023-24: Indian economy demonstrates resilience and stability amid global challenges

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 urban-rural consumption gap narrows

India's Union Finance Minister Nirmala Sitharaman will be presenting the Economy Survey on Monday (Jul 22) - a day before presenting the Union Budget for the first time (seventh overall) under the third term of Prime Minister Narendra Modi.&nbsp;

<h2>What is Economic Survey?</h2>

The Economic Survey is an exhaustive and detailed annual report analysing the performance of the Indian economy over the past year and detailing insights.&nbsp;The pre-budget document is typically presented by the Chief Economic Adviser (CEA).&nbsp;

Usually, the Economic Survey is tabled on January 31, a day before the Budget is presented in the parliament on February 1. However, owing to the 2024 Lok Sabha elections, the process was postponed and instead, a report titled "Indian Economy – A Review" was released.&nbsp;

Who prepares the Economic Survey?

The Economic Survey is prepared by the Economic Division of the Department of Economic Affairs in the Ministry of Finance.

When will the Economic Survey be presented?&nbsp;

The Economic Survey will be tabled on Monday (Jul 22) at 2:30 pm Indian Standard Time (IST) by Union finance minister Nirmala Sitharaman.&nbsp;Chief Economic Adviser Anantha Nageswaran will be holding a press conference after the survey is presented.&nbsp;

When was the first Economic Survey presented?&nbsp;

The first economic survey reportedly came into existence in 1950-51, when it used to be a part of the budget documents. However, in the 1960s, the survey was separated from the Budget documents and presented a day before the Union Budget.

<a href="https://www.wionews.com/videos/india-budget-indias-growth-map-to-a-developed-economy-741916">Watch |&nbsp;India Budget: India's growth map to a developed economy</a>

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/india-budget-indias-growth-map-to-a-developed-economy-741916/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

What to expect from Economic Survey?

The Economy Survey document may give some idea about the tone and texture of the actual Budget for 2024-25, to be presented on Tuesday (Jul 23).&nbsp;

What were the themes of previous Economic Surveys?

Last year, the key theme of the Economic Survey was 'Recovery Complete' as India was looking to bounce back after the COVID-19 pandemic while manoeuvring the international economy in the backdrop of Russia-Ukraine war.&nbsp;

In 2022. the central theme was 'Agile Approach' that focused on the country's economic response to COVID-19 pandemic.&nbsp;

<a href="https://www.wionews.com/india-news/union-budget-2024-date-time-where-to-watch-nirmala-sitharamans-full-budget-speech-live-complete-guide-741609">Also read |&nbsp;Union Budget 2024: Date, time, where to watch Nirmala Sitharaman’s full budget speech live | Complete guide</a>

Where to watch the Economic Survey?

The Economic Survey and its presentation will be broadcast&nbsp;live on Doordarshan, Sansad TV and their respective&nbsp;YouTube channels while the Press Information Bureau (PIB) India will live-stream it.&nbsp;

WION will be carrying the live presentation as well. <a href="https://www.wionews.com/live-tv">Click here to watch.&nbsp;&nbsp;</a>

India's Union Finance Minister Nirmala Sitharaman will be presenting the Economy Survey on Monday (Jul 22) - a day before presenting the Union Budget for the first time (seventh overall) under the third term of Prime Minister Narendra Modi.

India's Union Finance Minister Nirmala Sitharaman will be presenting the Economy Survey on Monday (Jul 22) - a day before presenting the Union Budget for the first time (seventh overall) under the third term of Prime Minister Narendra Modi. What is Economic Survey? The Economic Survey is an exhaustive and detailed annual report analysing the performance of the Indian economy over the past year and detailing insights. The pre-budget document is typically presented by the Chief Economic Adviser (CEA). Usually, the Economic Survey is tabled on January 31, a day before the Budget is presented in the parliament on February 1. However, owing to the 2024 Lok Sabha elections, the process was postponed and instead, a report titled "Indian Economy – A Review" was released. Who prepares the Economic Survey? The Economic Survey is prepared by the Economic Division of the Department of Economic Affairs in the Ministry of Finance. When will the Economic Survey be presented? The Economic Survey will be tabled on Monday (Jul 22) at 2:30 pm Indian Standard Time (IST) by Union finance minister Nirmala Sitharaman. Chief Economic Adviser Anantha Nageswaran will be holding a press conference after the survey is presented. When was the first Economic Survey presented? The first economic survey reportedly came into existence in 1950-51, when it used to be a part of the budget documents. However, in the 1960s, the survey was separated from the Budget documents and presented a day before the Union Budget. Watch | India Budget: India's growth map to a developed economy × What to expect from Economic Survey? The Economy Survey document may give some idea about the tone and texture of the actual Budget for 2024-25, to be presented on Tuesday (Jul 23). What were the themes of previous Economic Surveys? Last year, the key theme of the Economic Survey was 'Recovery Complete' as India was looking to bounce back after the COVID-19 pandemic while manoeuvring the international economy in the backdrop of Russia-Ukraine war. In 2022. the central theme was 'Agile Approach' that focused on the country's economic response to COVID-19 pandemic. Also read | Union Budget 2024: Date, time, where to watch Nirmala Sitharaman’s full budget speech live | Complete guide Where to watch the Economic Survey? The Economic Survey and its presentation will be broadcast live on Doordarshan, Sansad TV and their respective YouTube channels while the Press Information Bureau (PIB) India will live-stream it. WION will be carrying the live presentation as well. Click here to watch.

Economic Survey to be tabled in Indian Parliament. What is it? When, where and how to watch

Union Budget 2024: The countdown has begun for the Modi 3.0 era Union Budget, which will be presented by Finance Minister Nirmala Sitharaman on Tuesday (Jul 23) at 11:00 am IST. Meanwhile, the Monsoon Session of the Parliament is also expected to begin soon on July 22.&nbsp;

The Union Budget is one of the key financial statements of the government’s finances that is an estimation of revenue and expenditure for the upcoming fiscal year. In 2024, the budget was announced twice due to Lok Sabha elections- one an interim budget, presented on February 1 and the other will be the union budget, yet to be presented this month.

Also Read |&nbsp;<a href="https://www.wionews.com/business-economy/imf-raises-indias-gdp-forecast-to-7-for-2024-25-741460">IMF raises India's GDP forecast to 7% for 2024-25</a>

Nirmala Sitharaman will become the first finance minister to present seven consecutive Union Budgets, surpassing Morarji Desai, who presented six in a row. &nbsp;&nbsp;

Recently, the 'halwa' ceremony was held, which marks the final stage for preparation of the Union Budget 2024-25. Ahead of the Budget presentation, 'halwa' is prepared and served to officials and staff members of the finance ministry who are involved in the preparation of the document.

The ceremony is organised in the basement of North Block, which houses the ministry in the national capital and is attended by the finance minister and other high-ranking officials.

<h2>Union Budget 2024: Date and time</h2>

The Budget Session of Parliament will commence on July 22, as per the official notification. Sitharaman will present the Union Budget on July 23, Minister of Parliamentary Affairs Kiren Rijiju confirmed. The Budget Session will conclude on August 12, Rijiju added.

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet">
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) <a href="https://twitter.com/KirenRijiju/status/1809529286744739908?ref_src=twsrc%5Etfw">July 6, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

<h2>Union Budget 2024: Where to watch full Union Budget speech?</h2>

The budget address will be broadcast live on Parliament’s official channels, Sansad TV and Doordarshan, as well as on each channels'&nbsp;own official YouTube page.&nbsp;

Also Read |&nbsp;<a href="https://www.wionews.com/india-news/four-key-leaders-resign-from-ajit-pawars-party-following-electoral-defeat-741595">Four key leaders resign from Ajit Pawar's party following electoral defeat</a>

<h2>Union Budget 2024: How to download Union Budget PDF and full documents?</h2>

The Union Budget Web Portal (www.indiabudget.gov.in), which is available in English and Hindi, also provides digital access to the Budget 2024 papers. This contains budget papers such as the yearly financial statement, grant requests, and finance bills specified by the Constitution.

(With inputs from agencies)

Union Budget 2024: The countdown has begun for the Modi 3.0 era Union Budget, which will be presented by Finance Minister Nirmala Sitharaman on Tuesday (Jul 23) at 11:00 am IST.

Union Budget 2024: The countdown has begun for the Modi 3.0 era Union Budget, which will be presented by Finance Minister Nirmala Sitharaman on Tuesday (Jul 23) at 11:00 am IST. Meanwhile, the Monsoon Session of the Parliament is also expected to begin soon on July 22. The Union Budget is one of the key financial statements of the government’s finances that is an estimation of revenue and expenditure for the upcoming fiscal year. In 2024, the budget was announced twice due to Lok Sabha elections- one an interim budget, presented on February 1 and the other will be the union budget, yet to be presented this month. Also Read | IMF raises India's GDP forecast to 7% for 2024-25 Nirmala Sitharaman will become the first finance minister to present seven consecutive Union Budgets, surpassing Morarji Desai, who presented six in a row. Recently, the 'halwa' ceremony was held, which marks the final stage for preparation of the Union Budget 2024-25. Ahead of the Budget presentation, 'halwa' is prepared and served to officials and staff members of the finance ministry who are involved in the preparation of the document. The ceremony is organised in the basement of North Block, which houses the ministry in the national capital and is attended by the finance minister and other high-ranking officials. Union Budget 2024: Date and time The Budget Session of Parliament will commence on July 22, as per the official notification. Sitharaman will present the Union Budget on July 23, Minister of Parliamentary Affairs Kiren Rijiju confirmed. The Budget Session will conclude on August 12, Rijiju added. 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 × Union Budget 2024: Where to watch full Union Budget speech? The budget address will be broadcast live on Parliament’s official channels, Sansad TV and Doordarshan, as well as on each channels' own official YouTube page. Also Read | Four key leaders resign from Ajit Pawar's party following electoral defeat Union Budget 2024: How to download Union Budget PDF and full documents? The Union Budget Web Portal (www.indiabudget.gov.in), which is available in English and Hindi, also provides digital access to the Budget 2024 papers. This contains budget papers such as the yearly financial statement, grant requests, and finance bills specified by the Constitution. (With inputs from agencies)

Union Budget 2024: Date, time, where to watch Nirmala Sitharaman’s full budget speech live | Complete guide

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?

India's upcoming Budget&nbsp;is all set to have certain&nbsp;implications for the insurance sector, most notably from a consumer point of view.

Experts and industry leaders are looking at a few&nbsp;reforms that are likely to render insurance within reach and affordable for most people across the nation.

The top wish list is tax reforms.

The current tax structure, which recently waived off life insurance product exemptions, can be improved further.&nbsp;

Experts believe that the&nbsp;attractiveness of life insurance as an investment avenue will increase even further.&nbsp;

This would align it more with other financial instruments that receive beneficial tax treatment.

In addition, many sections, such as 80c and 80d sections of the Income Tax Act, request to raise the tax exemption limits. This change is required&nbsp;because more people will be inclined to invest in insurance-related policy matters.

This will, in turn, lead to a surge in the adoption of insurance policies between the different demographics. 
For consumers, the changes brought forth will make insurance products simple and less costly.

It could help to ease the financial burden for policyholders by lowering the GST, for instance, on health insurance premiums.

The burden, especially on middle-income and senior citizens, has been quite heavy with rising healthcare costs.

Even for individual tax benefits, this could be extended for various categories: cyber insurance and insurance against electric vehicles, for example.

Overall, the union budget 2024 presents an opportunity for the government to address longstanding demands of the insurance sector, aiming to broaden coverage and improve financial security for all citizens.&nbsp;

These potential reforms are poised to create a more favourable environment for insurers and consumers. They will also foster growth and resilience in India's insurance industry. But, will Finance Minister Nirmala Sitharaman address the wishlist from the insurance sector?

These questions shall be answered in the budget on July 23.

India's upcoming Budget is all set to have certain implications for the insurance sector, most notably from a consumer point of view. Experts and industry leaders are looking at a few reforms that are likely to render insurance within reach and affordable for most people across the nation.

India's upcoming Budget is all set to have certain implications for the insurance sector, most notably from a consumer point of view. Experts and industry leaders are looking at a few reforms that are likely to render insurance within reach and affordable for most people across the nation. The top wish list is tax reforms. The current tax structure, which recently waived off life insurance product exemptions, can be improved further. Experts believe that the attractiveness of life insurance as an investment avenue will increase even further. This would align it more with other financial instruments that receive beneficial tax treatment. In addition, many sections, such as 80c and 80d sections of the Income Tax Act, request to raise the tax exemption limits. This change is required because more people will be inclined to invest in insurance-related policy matters. This will, in turn, lead to a surge in the adoption of insurance policies between the different demographics. For consumers, the changes brought forth will make insurance products simple and less costly. It could help to ease the financial burden for policyholders by lowering the GST, for instance, on health insurance premiums. The burden, especially on middle-income and senior citizens, has been quite heavy with rising healthcare costs. Even for individual tax benefits, this could be extended for various categories: cyber insurance and insurance against electric vehicles, for example. Overall, the union budget 2024 presents an opportunity for the government to address longstanding demands of the insurance sector, aiming to broaden coverage and improve financial security for all citizens. These potential reforms are poised to create a more favourable environment for insurers and consumers. They will also foster growth and resilience in India's insurance industry. But, will Finance Minister Nirmala Sitharaman address the wishlist from the insurance sector? These questions shall be answered in the budget on July 23.

India budget 2024: wishlist of the insurance sector

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

Let's turn our attention to the expectations from the budget. India's new budget is poised to significantly impact india's real estate industry, particularly in the realm of affordable housing.

India budget 2024-25: Real estate's wishlist for budget

As India gears up for its upcoming budget, a key sector – the Auto industry – is buzzing with anticipation. Let's take a look at what the budget might hold for automakers and most importantly, for you, the consumer.

India budget 2024: What's in the budget for the auto sector?

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.”

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet">
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) <a href="https://twitter.com/KirenRijiju/status/1809529286744739908?ref_src=twsrc%5Etfw">July 6, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

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

As India prepares for the upcoming budget in July, Re-elected Finance Minister Nirmala Sitharaman chaired the 53rd Goods and Services Tax (GST) Council meeting on Saturday. Rates on many items, including accommodation or students and railway tickets, witnessed exemptions in the latest rules. Similarly, no GST will be levied on intra-railway services. Milk cans and Solar cookers will observe a uniform 12 per cent rate.

The council has recommended rolling out the biometric-based Aadhaar authentication of applicants on a pan-India basis. This is to check fraud tax claims &amp; counter tax evasion.

Sitharaman expressed the intention to include Petrol and Diesel under the GST umbrella while leaving the final decision to states regarding implementation. Interestingly, 5 commodities, including crude oil, natural gas, petrol, diesel, and aviation turbine fuel (ATF), were part of the GST law when it was first implemented in 2017. Later, it was decided to tax it at a later date.

The GST council has also recommended a waiver of interest on tax penalties issued in the first 3 years of GST rollout.

Talking about the potential benefits of this GST revamp, Smita Singh, partner at S&amp;A law offices, said, 'Many welcome recommendations have been announced to provide relief to the taxpayer in the 53rd GST Council Meeting held today. It is evident that the new Government is moving ahead with importance to ease of doing business which includes recommendations like waiver of interest and penalty for Notices issued under Section 73 for FY 2017-18 to FY 2019-20. This benefit can be taken by tax payers accepting demand and willing to pay the contended tax.'

She added, 'Another important decision is that no interest is payable where the amount of &nbsp;tax was deposited in electronic cash ledger of the taxpayer while filing GSTR 3B. This will help taxpayers undergoing potential litigation. Further, the GST Council also recommended to reduce the maximum amount of pre-deposit for filing appeal before the appellate authority from 25 crores to 20 crores.'

As India prepares for the upcoming budget in July, Re-elected Finance Minister Nirmala Sitharaman chaired the 53rd Goods and Services Tax (GST) Council meeting on Saturday.

As India prepares for the upcoming budget in July, Re-elected Finance Minister Nirmala Sitharaman chaired the 53rd Goods and Services Tax (GST) Council meeting on Saturday. Rates on many items, including accommodation or students and railway tickets, witnessed exemptions in the latest rules. Similarly, no GST will be levied on intra-railway services. Milk cans and Solar cookers will observe a uniform 12 per cent rate. The council has recommended rolling out the biometric-based Aadhaar authentication of applicants on a pan-India basis. This is to check fraud tax claims & counter tax evasion. Sitharaman expressed the intention to include Petrol and Diesel under the GST umbrella while leaving the final decision to states regarding implementation. Interestingly, 5 commodities, including crude oil, natural gas, petrol, diesel, and aviation turbine fuel (ATF), were part of the GST law when it was first implemented in 2017. Later, it was decided to tax it at a later date. The GST council has also recommended a waiver of interest on tax penalties issued in the first 3 years of GST rollout. Talking about the potential benefits of this GST revamp, Smita Singh, partner at S&A law offices, said, 'Many welcome recommendations have been announced to provide relief to the taxpayer in the 53rd GST Council Meeting held today. It is evident that the new Government is moving ahead with importance to ease of doing business which includes recommendations like waiver of interest and penalty for Notices issued under Section 73 for FY 2017-18 to FY 2019-20. This benefit can be taken by tax payers accepting demand and willing to pay the contended tax.' She added, 'Another important decision is that no interest is payable where the amount of tax was deposited in electronic cash ledger of the taxpayer while filing GSTR 3B. This will help taxpayers undergoing potential litigation. Further, the GST Council also recommended to reduce the maximum amount of pre-deposit for filing appeal before the appellate authority from 25 crores to 20 crores.'

India's GST Reforms: Nirmala Sitharaman announces rate tweaks and fee waivers

Budget 2024-25: Ahead of presenting the national budget in the parliament, Union Finance Minister Nirmala Sitharaman chaired pre-budget consultations with the finance ministers of states and union territories to build consensus on matters of contention. The meeting was followed by the 53rd meeting of the Goods and Services Tax (GST) on Saturday (June 22).

The GST council exempted services by way of hostel accommodation outside educational institutions up to ₹20,000 ($239) per person per month. But the student must have stayed in the hostel for a continuous period of 90 days.&nbsp;

<h2>53rd GST council meet: Top points</h2>

1. Railway tickets and payments for waiting room and cloak room have been exempted from GST.&nbsp;

2. No GST will be levied on intra-railway services as well as the services provided like battery-operated vehicles.

3. "There is going to be a rolling out of biometric-based Aadhaar authentication on an all-India basis. This will help us to combat fraudulent input tax credit claims made through fake invoices in the cases," the finance minister announced at the briefing after the 53rd GST Council meet.

4. "In order to help small taxpayers, the Council recommended extending the time limit to furnish the detail and the returns in the form GSTR 4 from 30th April, the council has recommended that it be extended to 30th June. This will apply for returns for the Financial Year 2024- 25 onwards," the minister added.&nbsp;

Also watch |&nbsp;Online gaming: Navigating the GST burden | The India Story

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/online-gaming-navigating-the-gst-burden-the-india-story-618269/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

5. "Today, the 53rd GST Council Meeting has taken a lot of decisions on trade facilitation, easing compliance burden and giving relief to tax taxpayers in terms of compliance easing out. So this will benefit the traders, MSMEs and taxpayers,"&nbsp;Sitharaman said at a briefing after the 53rd GST Council meeting.&nbsp;

6. "The time limit to avail input tax credit in respect of any invoice or debit note under section 16(4) of the CGST Act filed up to the 30-11-2021 for the financial years 17-18, 18-19, 19-20 and 20-21 may be deemed to be 2011 to 2021. So for the same requisite amendment retrospectively with effect from 1 July 2017, the council has made a recommendation," said the finance minister.

7. Sitharaman added, "The Council has also recommended that the maximum amount for pre-deposit for filing appeal before the appellate authority shall be reduced from ₹25 Crores CGST and 25 Crores SGST to ₹20 Crore CGST and ₹20 SGST and that is the maximum amount of pre-deposit for filing appeals before the appellate authority."

Budget 2024-25: Ahead of presenting the national budget in the parliament, Union Finance Minister Nirmala Sitharaman chaired pre-budget consultations with the finance ministers of states and union territories to build consensus on matters of contention.

Budget 2024-25: Ahead of presenting the national budget in the parliament, Union Finance Minister Nirmala Sitharaman chaired pre-budget consultations with the finance ministers of states and union territories to build consensus on matters of contention. The meeting was followed by the 53rd meeting of the Goods and Services Tax (GST) on Saturday (June 22). The GST council exempted services by way of hostel accommodation outside educational institutions up to ₹20,000 ($239) per person per month. But the student must have stayed in the hostel for a continuous period of 90 days. 53rd GST council meet: Top points 1. Railway tickets and payments for waiting room and cloak room have been exempted from GST. 2. No GST will be levied on intra-railway services as well as the services provided like battery-operated vehicles. 3. "There is going to be a rolling out of biometric-based Aadhaar authentication on an all-India basis. This will help us to combat fraudulent input tax credit claims made through fake invoices in the cases," the finance minister announced at the briefing after the 53rd GST Council meet. 4. "In order to help small taxpayers, the Council recommended extending the time limit to furnish the detail and the returns in the form GSTR 4 from 30th April, the council has recommended that it be extended to 30th June. This will apply for returns for the Financial Year 2024- 25 onwards," the minister added. Also watch | Online gaming: Navigating the GST burden | The India Story × 5. "Today, the 53rd GST Council Meeting has taken a lot of decisions on trade facilitation, easing compliance burden and giving relief to tax taxpayers in terms of compliance easing out. So this will benefit the traders, MSMEs and taxpayers," Sitharaman said at a briefing after the 53rd GST Council meeting. 6. "The time limit to avail input tax credit in respect of any invoice or debit note under section 16(4) of the CGST Act filed up to the 30-11-2021 for the financial years 17-18, 18-19, 19-20 and 20-21 may be deemed to be 2011 to 2021. So for the same requisite amendment retrospectively with effect from 1 July 2017, the council has made a recommendation," said the finance minister. 7. Sitharaman added, "The Council has also recommended that the maximum amount for pre-deposit for filing appeal before the appellate authority shall be reduced from ₹25 Crores CGST and 25 Crores SGST to ₹20 Crore CGST and ₹20 SGST and that is the maximum amount of pre-deposit for filing appeals before the appellate authority."

Nirmala Sitharaman gets good news for hostel goers, railway services: Top points of GST council meet

India's economic growth continues to expand despite a global slowdown. The HSBC's flash India Composite Purchasing Managers' Index (PMI) rose to 60.9 in June from last month's 60.5. This marks a faster expansion owing to growth in manufacturing and services sectors.

But what's more exciting is the pace of job creation. The survey showed that the job creation was at its strongest in over 18 years. This comes as a welcome boost for the newly elected government. When the country is growing by over 8 per cent, it's critical to ensure a robust inflow of jobs in the market. Despite the optimistic numbers, ensuring that jobs continue to grow is paramount.

India's export orders also registered substantial gains, marking the 22nd consecutive month of growth in June. The pace, however, slightly eased after record growth last month.

Coming to India's price pressures, price increases eased since May, pointing out an improving retail inflation outlook. Service input costs also eased to a 4-month low.

Although business confidence has weakened in the short term, the outlook for the year remains positive. Companies expect gains based on recent proposals, efficiency boosts, &amp; forecasts for favourable exchange rates. This comes as India registers a fall in its <a href="https://www.wionews.com/business-economy/indias-forex-reserves-fall-from-record-highs-733909">forex reserves</a> from the record-high of $656 billion.

All eyes are on the upcoming budget. Finance Minister Nirmala Sitharaman recently convened a high-level meeting with leading economists to chart the economic roadmap. The emphasis is expected to be on policy continuity across key sectors and fiscal discipline.

India's economic growth continues to expand despite a global slowdown. The HSBC's flash India Composite Purchasing Managers' Index (PMI) rose to 60.9 in June from last month's 60.

India's economic growth continues to expand despite a global slowdown. The HSBC's flash India Composite Purchasing Managers' Index (PMI) rose to 60.9 in June from last month's 60.5. This marks a faster expansion owing to growth in manufacturing and services sectors. But what's more exciting is the pace of job creation. The survey showed that the job creation was at its strongest in over 18 years. This comes as a welcome boost for the newly elected government. When the country is growing by over 8 per cent, it's critical to ensure a robust inflow of jobs in the market. Despite the optimistic numbers, ensuring that jobs continue to grow is paramount. India's export orders also registered substantial gains, marking the 22nd consecutive month of growth in June. The pace, however, slightly eased after record growth last month. Coming to India's price pressures, price increases eased since May, pointing out an improving retail inflation outlook. Service input costs also eased to a 4-month low. Although business confidence has weakened in the short term, the outlook for the year remains positive. Companies expect gains based on recent proposals, efficiency boosts, & forecasts for favourable exchange rates. This comes as India registers a fall in its forex reserves from the record-high of $656 billion. All eyes are on the upcoming budget. Finance Minister Nirmala Sitharaman recently convened a high-level meeting with leading economists to chart the economic roadmap. The emphasis is expected to be on policy continuity across key sectors and fiscal discipline.

India's economy gains momentum: Business activity jumps, job creation at 18-year high

Nirmala Sitharaman has been reappointed as India's finance minister in prime minister Narendra Modi's new coalition government. Despite the Bharatiya Janata Party failing to secure a majority in the recent elections, key portfolios have remained with Modi’s party.

Modi 3.0 Cabinet : Nirmala Sitharaman to continue as India's finance minister

Nirmala Sitharaman reappointed as finance minister in Modi's coalition

Modi 3.0 Cabinet : Nirmala Sitharaman reappointed as India's finance minister

Nirmala Sitharaman has been re-appointed as India’s finance minister in Prime Minister Narendra Modi’s new coalition government.&nbsp;

Despite failing to win a majority in the recent elections, the BJP has managed to retain key portfolios.&nbsp;

Sitharaman, who will also be in charge of corporate affairs, faces the challenge of balancing fiscal demands in the new coalition environment.&nbsp;

Economists point out that government spending may need to rise to maintain support, which could mark a shift from the conservative fiscal outlook of the past.

With a recent surge in tax revenues and a record $25 billion payment from the central bank, the economic outlook looks promising.&nbsp;

Additionally, S&amp;P has indicated the possibility of a credit rating upgrade, indicating India’s improved economic condition.&nbsp;

The economy, one of the fastest growing economies in the world, expanded by more than 8 per cent in the last financial year, and the central bank projects a 7.2 per cent growth for the current year&nbsp;

Despite these positive indicators, unemployment and rising cost of living emerged as major concerns for voters, affecting support for the BJP during the elections.

Looking ahead, the Modi government will face crucial state elections in Maharashtra, Haryana and Delhi.&nbsp;

This politics can lead the government to use strategies aimed at the poor, women and youth to gain support.&nbsp;

Nirmala Sitharaman has earlier focused on reducing infrastructure spending and fiscal deficit.&nbsp;

Experts predict that the upcoming budget will focus on increasing funding for rural development and housing while maintaining fiscal discipline.

Nirmala Sitharaman has been re-appointed as India’s finance minister in Prime Minister Narendra Modi’s new coalition government. Despite failing to win a majority in the recent elections, the BJP has managed to retain key portfolios.

Nirmala Sitharaman has been re-appointed as India’s finance minister in Prime Minister Narendra Modi’s new coalition government. Despite failing to win a majority in the recent elections, the BJP has managed to retain key portfolios. Sitharaman, who will also be in charge of corporate affairs, faces the challenge of balancing fiscal demands in the new coalition environment. Economists point out that government spending may need to rise to maintain support, which could mark a shift from the conservative fiscal outlook of the past. With a recent surge in tax revenues and a record $25 billion payment from the central bank, the economic outlook looks promising. Additionally, S&P has indicated the possibility of a credit rating upgrade, indicating India’s improved economic condition. The economy, one of the fastest growing economies in the world, expanded by more than 8 per cent in the last financial year, and the central bank projects a 7.2 per cent growth for the current year Despite these positive indicators, unemployment and rising cost of living emerged as major concerns for voters, affecting support for the BJP during the elections. Looking ahead, the Modi government will face crucial state elections in Maharashtra, Haryana and Delhi. This politics can lead the government to use strategies aimed at the poor, women and youth to gain support. Nirmala Sitharaman has earlier focused on reducing infrastructure spending and fiscal deficit. Experts predict that the upcoming budget will focus on increasing funding for rural development and housing while maintaining fiscal discipline.

Nirmala Sitharaman, a prominent Indian politician and a senior leader of the Bharatiya Janata Party (BJP) was&nbsp;sworn in as the Union Minister in Prime Minister Narendra Modi's new cabinet on Sunday (June 9).&nbsp;

She has held several key positions within the Indian government. Among the key positions held by her in the past were - Minister of Finance and Corporate Affairs from 2019 - till June 2024.&nbsp;

As the first full-time female Finance Minister of India, Sitharaman oversaw the economic policies and financial management of the country, especially during the COVID-19 pandemic in India.&nbsp;

She has also been instrumental in crafting the Union Budget and navigating the economy through challenges such as the COVID-19 pandemic. In those turbulent times she was appointed to lead the COVID-19 Economic Response Task Force.&nbsp;

Also Read |&nbsp;<a href="https://www.wionews.com/india-news/shivraj-singh-chouhan-ram-mohan-naidu-and-more-who-all-are-first-timers-in-modi-30-cabinet-730344">Shivraj Singh Chouhan, Ram Mohan Naidu and more: Who all are first-timers in Modi 3.0 Cabinet?</a>

Sitharaman also served as the Minister of Defence from 2017 to 2019. She became the second woman to hold the position of Defence Minister of India, after Indira Gandhi. She also served as the Minister of State for Finance and Corporate Affairs from 2014 - 2017.&nbsp;

As part of the Narendra Modi-led government, she played a crucial role in financial policy-making and corporate governance.

Also Read |&nbsp;<a href="https://www.wionews.com/india-news/check-out-full-list-of-pm-modis-council-of-ministers-for-his-3rd-term-in-power-730318">India's new coalition government: Full list of Modi's Council of Ministers</a>

She also served as the Minister of State (Independent Charge) for Commerce and Industry from 2014 to 2017. She was responsible for trade negotiations and improving the ease of doing business in India.

<section>
Watch |&nbsp;<a href="https://www.wionews.com/videos/modi-30-pm-modi-takes-oath-for-third-term-jp-nadda-shivraj-singh-chouhan-get-cabinet-berths-730325">Modi 3.0: PM Modi takes oath for third term, JP Nadda, Shivraj Singh Chouhan get cabinet berths</a>

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/modi-30-pm-modi-takes-oath-for-third-term-jp-nadda-shivraj-singh-chouhan-get-cabinet-berths-730325/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

Before holding ministerial positions, Sitharaman served as the national spokesperson for the BJP, where she gained recognition for her articulate defence of the party’s policies and ideologies.
</section>

Before entering politics, Nirmala Sitharaman worked in various capacities, including as an assistant to an economist in the Agricultural Engineers Association in the UK, and later in the corporate sector in India. She also served as a member of the National Commission for Women.

Nirmala Sitharaman is married to Parakala Prabhakar, an economist and political commentator. They have&nbsp;a&nbsp;daughter.

(With inputs from agencies)

Nirmala Sitharaman, a prominent Indian politician and a senior leader of the Bharatiya Janata Party (BJP) was sworn in as the Union Minister in Prime Minister Narendra Modi's new cabinet on Sunday (June 9).

Nirmala Sitharaman, a prominent Indian politician and a senior leader of the Bharatiya Janata Party (BJP) was sworn in as the Union Minister in Prime Minister Narendra Modi's new cabinet on Sunday (June 9). She has held several key positions within the Indian government. Among the key positions held by her in the past were - Minister of Finance and Corporate Affairs from 2019 - till June 2024. As the first full-time female Finance Minister of India, Sitharaman oversaw the economic policies and financial management of the country, especially during the COVID-19 pandemic in India. She has also been instrumental in crafting the Union Budget and navigating the economy through challenges such as the COVID-19 pandemic. In those turbulent times she was appointed to lead the COVID-19 Economic Response Task Force. Also Read | Shivraj Singh Chouhan, Ram Mohan Naidu and more: Who all are first-timers in Modi 3.0 Cabinet? Sitharaman also served as the Minister of Defence from 2017 to 2019. She became the second woman to hold the position of Defence Minister of India, after Indira Gandhi. She also served as the Minister of State for Finance and Corporate Affairs from 2014 - 2017. As part of the Narendra Modi-led government, she played a crucial role in financial policy-making and corporate governance. Also Read | India's new coalition government: Full list of Modi's Council of Ministers She also served as the Minister of State (Independent Charge) for Commerce and Industry from 2014 to 2017. She was responsible for trade negotiations and improving the ease of doing business in India. Watch | Modi 3.0: PM Modi takes oath for third term, JP Nadda, Shivraj Singh Chouhan get cabinet berths × Before holding ministerial positions, Sitharaman served as the national spokesperson for the BJP, where she gained recognition for her articulate defence of the party’s policies and ideologies. Before entering politics, Nirmala Sitharaman worked in various capacities, including as an assistant to an economist in the Agricultural Engineers Association in the UK, and later in the corporate sector in India. She also served as a member of the National Commission for Women. Nirmala Sitharaman is married to Parakala Prabhakar, an economist and political commentator. They have a daughter. (With inputs from agencies)

Meet Nirmala Sitharaman, BJP leader reappointed as union minister in Modi's new cabinet

Union Minister Nirmala Sitharaman took to her social media and shared a handwritten note by Indian Prime Minister Narendra Modi after he completed his meditation session at the Vivekananda Rock Memorial in Kanyakumari in the southern state of Tamil Nadu on Saturday (June 1).&nbsp;

He was on a spiritual sojourn from May 30 to June 1.

In the note, PM Modi wrote, "It is my fortune that today, after so many years, as India embodies the values and ideals of Swami Vivekananda, I too have had the opportunity to meditate at this sacred place."

"My meditation at this 'Shila Smarak' is one of the unforgettable moments of my life. Sitting at the feet of 'Ma Bharati', I once again reaffirm my resolve that every moment of my life and every particle of my body will always be dedicated to the service of the nation," he wrote.

"With wishes for the progress of the nation and the welfare of its citizens, I offer my utmost reverence to 'Ma Bharati'," he added.

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet">
On completing his meditation on the Vivekananda Rock Memorial PM <a href="https://twitter.com/narendramodi?ref_src=twsrc%5Etfw">@narendramodi</a> writes: 
 
“Visiting the 'Vivekananda Rock Memorial' at Kanyakumari, the southernmost tip of India, I feel a divine energy. 
 
It is on this rock that Mother Parvati and Swami Vivekananda had meditated.… <a href="https://t.co/R9WJXb2Zps">pic.twitter.com/R9WJXb2Zps</a>
— Nirmala Sitharaman (Modi Ka Parivar) (@nsitharaman) <a href="https://twitter.com/nsitharaman/status/1796891213653770528?ref_src=twsrc%5Etfw">June 1, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

&nbsp;

The Indian prime minister ended his meditation after nearly 45 hours and will now return to Delhi and await the results of the Lok Sabha elections.

Also read:&nbsp;<a href="https://www.wionews.com/india-news/pm-modi-completes-his-two-day-meditation-at-kanniyakumari-as-poll-comes-to-an-end-727803">PM Modi completes 2-day meditation at Kanniyakumari, to return to Delhi as Lok Sabha polls end</a>

He also paid floral tributes to the Tamil saint-poet Thiruvalluvar.&nbsp;

PM Modi meditated through the entire day and night at the same place where Swami Vivekananda had meditated. This place is also called the Dhyan Mandapam.&nbsp;

It is believed that Vivekananda had a divine vision about 'Bharat Mata' while he was meditating at the Dhyan Mandapam.

The prime minister's visit coincides with the last and final stage of the 2024 Lok Sabha polls, which concluded with a 59.45 per cent voter turnout.

PM Modi, who is seeking a third term in the general elections, concluded his election campaign in Punjab's Hoshiarpur on Thursday (May 30).

(With input from agencies)

Union Minister Nirmala Sitharaman took to her social media and shared a handwritten note by Indian Prime Minister Narendra Modi after he completed his meditation session at the Vivekananda Rock Memorial in Kanyakumari in the southern state of Tamil Nadu on Saturday (June 1).

Union Minister Nirmala Sitharaman took to her social media and shared a handwritten note by Indian Prime Minister Narendra Modi after he completed his meditation session at the Vivekananda Rock Memorial in Kanyakumari in the southern state of Tamil Nadu on Saturday (June 1). He was on a spiritual sojourn from May 30 to June 1. In the note, PM Modi wrote, "It is my fortune that today, after so many years, as India embodies the values and ideals of Swami Vivekananda, I too have had the opportunity to meditate at this sacred place." "My meditation at this 'Shila Smarak' is one of the unforgettable moments of my life. Sitting at the feet of 'Ma Bharati', I once again reaffirm my resolve that every moment of my life and every particle of my body will always be dedicated to the service of the nation," he wrote. "With wishes for the progress of the nation and the welfare of its citizens, I offer my utmost reverence to 'Ma Bharati'," he added. On completing his meditation on the Vivekananda Rock Memorial PM @narendramodi writes: “Visiting the 'Vivekananda Rock Memorial' at Kanyakumari, the southernmost tip of India, I feel a divine energy. It is on this rock that Mother Parvati and Swami Vivekananda had meditated.… pic.twitter.com/R9WJXb2Zps — Nirmala Sitharaman (Modi Ka Parivar) (@nsitharaman) June 1, 2024 × The Indian prime minister ended his meditation after nearly 45 hours and will now return to Delhi and await the results of the Lok Sabha elections. Also read: PM Modi completes 2-day meditation at Kanniyakumari, to return to Delhi as Lok Sabha polls end He also paid floral tributes to the Tamil saint-poet Thiruvalluvar. PM Modi meditated through the entire day and night at the same place where Swami Vivekananda had meditated. This place is also called the Dhyan Mandapam. It is believed that Vivekananda had a divine vision about 'Bharat Mata' while he was meditating at the Dhyan Mandapam. The prime minister's visit coincides with the last and final stage of the 2024 Lok Sabha polls, which concluded with a 59.45 per cent voter turnout. PM Modi, who is seeking a third term in the general elections, concluded his election campaign in Punjab's Hoshiarpur on Thursday (May 30). (With input from agencies)

PM Modi pens note after meditation at Kanniyakumari; ‘life dedicated to nation’s service’

India's finance minister Nirmala Sitharaman has said that she rejected her party, the BJP's offer to fight polls, as ‘doesn’t have the kind of money’.

Gravitas: India's FM Nirmala Sitharaman decides against fighting polls, says 'Don't have money'

nirmala-sitharaman

Nirmala Sitharaman, News on Nirmala Sitharaman, stories on Nirmala Sitharaman, articles on Nirmala Sitharaman, Nirmala Sitharaman stories at Wion, Nirmala Sitharaman news, Nirmala Sitharaman latest news

nirmala sitharaman

Budget 2024 highlights: Focus on taxes, jobs and consumer products

Budget 2024: Internship scheme, incentive for first-time employees- All top government schemes announced

Union Budget 2024: Govt announces five schemes for employment and skilling, allocates Rs 2 lakh crores

Budget 2024: Standard deductions for salaried employees raised to INR 75,000

Budget 2024: Religious tourism gets transformative promise from govt

Budget 2024 updates: TDS rates for e-commerce operators reduced

India Budget: Government's take in focus for Union Budget 2024

Budget 2024: FM Sitharaman says 'govt to set up women hostels to promote participation in workforce'

Budget 2024: Coalition partners get a boost as special schemes announced for AP, Bihar

India's Economic Survey to be tabled in Parliament today

Economic Survey 2023-24: Indian economy demonstrates resilience and stability amid global challenges

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

Economic Survey to be tabled in Indian Parliament. What is it? When, where and how to watch

Economic Survey to be tabled in Indian Parliament. What is it? When, where and how to watch

Union Budget 2024: Date, time, where to watch Nirmala Sitharaman’s full budget speech live | Complete guide

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

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

India budget 2024: wishlist of the insurance sector

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

India budget 2024-25: Real estate's wishlist for budget

India budget 2024: What's in the budget for the auto sector?

Indian Finance Minister Nirmala Sitharaman to present budget on July 23

India's GST Reforms: Nirmala Sitharaman announces rate tweaks and fee waivers

Nirmala Sitharaman gets good news for hostel goers, railway services: Top points of GST council meet