Budget 2024-25 Live Updates: Check what's Costly and what's Cheaper!

1. FY25 gross borrowing is estimated at ₹14.13 lakh crore, achieving a reduction from ₹15.43 lakh crore of FY24.
2. Research has led the growth and development of indigenous oilseeds like mustard, groundnut and sesame to make India self-sufficient. Currently, India imports about 60% of its cooking oil spending over ₹1.5 trillion in a year.
3. Outlay for infrastructure is increased by 11% for FY25 to ₹11,11,111 crore from ₹10,00,000 crore.
4. An aggressive fiscal consolidation target: FY25 fiscal deficit target is 5.1% as against the expectation of 5.3% levels. In FY24 the fiscal deficit target of 5.8% has been achieved thanks to better revenue mobilization as against the target of 5.9%.
5. Withdrawal of income tax demands up to ₹25,000 (till 2009-10) and ₹10,000 from 2010-11 to 2014-15. This will benefit about 1 crore taxpayers.
6. A scheme to help middle class living in rented houses to buy or build their own houses will be launched
7. Tax rates (Direct & Indirect) and Import duty will be same. Tax payers expected a reduction but didn't happen.
8. Tax benefits to start-ups and investments made by sovereign wealth or pension funds extended by 1 year till March 31, 2025.
9. Gross tax revenue target for FY25 hiked 11.46% to ₹38.31-lakh crore, from ₹34.37 lakh crore in FY24.
10. Direct tax collection target set at ₹21.99-lakh crore, while that of indirect tax is at ₹16.22-lakh crore.
11. Nominal GDP growth for FY25 is projected at 10.5%
12. The government will release a white paper on mismanagement of economy prior to 2014
13. Govt to form high-powered panel to address population growth challenges and demographic changes
14. Next generation reforms will be unveiled in consultation with States and stakeholders
15. Extension of Ayushman Bharat healthcare coverage to all ASHA and Anganwadi workers and helpers.

Union Finance Minister Nirmala Sitharaman with Ministers of State for Finance Pankaj Chaudhary and Bhagwat Kishanrao Karad at the post-Budget 2024-25 press conference

PM Narendra Modi on Budget 2024-25 :-

Investment for capital expenditure is taken to a historic high of ₹11,11,111 crore. India's capex and infra spending situation is going to be on a ‘sweet spot’. There will be creation of enumerable job opportunities for youngsters in the coming years. This budget has a reflection of the young aspirations of a young India. For research and innovation, a fund of ₹1 Lakh Crore will be given.

PM Narendra Modi applauding during Budget 2024-25 session on 1st Feb

NBCC shares boomed 7.41% to a high of Rs 139 against the previous close of Rs 129.40 on BSE after our FM said, "2 crore houses will be built up in the next five years". She also promised a housing scheme for middle-class public.

Market cap of NBCC rose to Rs 23,895 crore. The PSU stock has gained 193% in six months and risen 272% in a year. 

In the current session, total 53.24 lakh shares of the firm changed hands amounting to a turnover of Rs 72.04 crore on BSE. NBCC shares have a beta of 0.6, indicating very low volatility in a year.

PM Awas Yojna (Gramin) is nearing the 3 crore houses target. In the next 5 years it will target more 2 crore houses so that required people can get a proper roof for their families.

More medical colleges will be set-up by utilizing existing hospital infrastructure. A committee will be formed to manage the same.

Farmer Incomes will be boosted as The PM Sampada Yojana has benefited 38 lakh farmers and The PM Formalisation of Micro Food Processing Enterprises has assisted 2.4 lakh SHGs.

Blending of compressed biogas in compressed natural gas for transport and Piped natural gas for domestic purposes will be mandated.

Program for supporting dairy farmers will be formulated and efforts are already on to defeat the Foot and Mouth Disease. India is the largest dairy producer in the world but with low productivity of milch.

83 lakh SHGs (self help groups) with 9 crore women have transformed the rural social economic landscape. Thus, amount has been raised from 2 crore to 3 crore for Lakhpati Didis.

1 crore houses will get upto 300 units of free electricity per month through rooftop solar tech. Electricity savings will be ₹15,000 to ₹18,000 per year. They will also earn by selling surplus electricity to Discoms.

Total receipts other than borrowings: Rs. 30.80 lakh crores

Total expenditure: Rs. 47.66 lakh crores

Tax receipts: Rs. 26.02 lakh crores

Scheme of 50-year interest free loans for capital expenditure, to states will be continued with outlay of Rs. 1.3 lakh crores.

Fiscal deficit in 2024-25 is estimated to be 5.1% of GDP, adhering to the path of fiscal consolidation.

No liability for those earning upto Rs. 7 lakh a year. The threshold for presumptive taxation for retail businesses is increased from Rs. 2 crore to Rs. 3 crore.

Corporate tax rate is decreased from 30% to 22% for existing companies and 15% for certain new manufacturing industries.

Filing tax returns will now take only 10 days. Refunds will also get faster!

G20 events across 60 cities have boosted Domestic Tourism. Long-term interest free loans will be provided to states so that more Middle-Class public can afford Travel.

New Housing Scheme for deserving Middle-Class who are staying in slums, chawls, or unauthorized colonies. It will enable them to buy or build a new house.

E-Vehicles will get more manufacturing facilities along with more E-Charging units across the country. 40,000 normal rail bogeys will be converted to Vande Bharat standards.

Private sectors into Technology will get Rs. 1 lakh crore budget with 50 year interest free loans via long tenors and low or nil interest rates. This will help scale up Research and Innovation in the sunrise domains.