Parliament News: Union Budget 2024 Presented, Heat From Oppn & More | Highlights

Union Agriculture Minister Shivraj Singh Chouhan on Tuesday lauded the Union Budget 2024-25 as a "boon" for the agriculture and rural sectors, asserting that it paves the way for a strong and self-reliant India.

Chouhan said the Budget presents a roadmap for India to achieve developed nation status by 2047. He emphasised that the financial plan would bolster efforts to increase farmers' income.

Union Minister of Commerce and Industry Piyush Goyal said, ""I think this is a budget for new India. It is taking India in the Amrit Kal rapidly, progressing towards a developed nation by 2047. It is not only impactful, it is both innovative and inclusive."

"If you ask me, this budget lays a clear roadmap, given the nine priorities on which the finance minister has focused, to set the country on a fast trajectory to help our youth through skill development and employment initiatives. Ensure that this becomes the third-largest economy in the world," he told news agency ANI.

"Make us more competitive both within the country and across the world, thereby promoting manufacturing, promoting the services sector, and promoting tourism. The thrust on infrastructure with its multiplier impact will hugely create jobs and business opportunities, and a balanced budget which will set the tone for Modi 3.0," Goyal added.

Union Minister Hardeep Singh Puri said, "Opposition's work is to not to be happy from the budget...I would recommend them to analyze the budget...They should have also done something (for Bihar)...Andhra Reorganisation Act was of 2012, it was their (opposition) work, now if we have done this, they should be happy."

Union Finance Minister Nirmala Sitharaman said, "It is not just because we have mentioned it in this budget but the attempt to widen the tax net is something which we have been repeatedly saying, that India's tax net will have to be widened - whether it is in the direct taxation or indirect."

"Second, there are also now PSU dividends which are improving because the valuations have gone up really high and their performance has also now substantially increased. So, revenue mobilisation is not just tax-based, you have non-tax revenue mobilisations which are also coming up," she said addressing a press conference.

"For three years now, we have been talking about asset monetisation, which is not selling of assets but optimum utilisation of those assets which are lying in the form of unutilised stadiums or land which is available with PSUs which can be utilised for better purposes," she added.

Former chief minister and leader of opposition Jairam Thakur on Tuesday hailed the union budget as a milestone in achieving the target of developed India and said that steps have been taken for the empowerment of poor, women, youth and farmers.

In a statement issued here, the BJP leader said that changes in the tax slab have come as a relief to the middle class. The budget would give wings to youth, increase agriculture production, and provide better infrastructure for the storage and marketing of agricultural products, and farmers would be able to sell their products on their own terms.

Rajasthan Congress chief Govind Singh Dotasra on Tuesday accused the centre of ignoring the state in the Union Budget.

"The central government is working only to save itself. It also took revenge for losing 11 Lok Sabha seats in Rajasthan. The government is not working for all sections," Dotasra told reporters here.

"Union budget disappointed Rajasthan. BJP lost 11 seats in Lok Sabha elections this year, and therefore, the central government has neglected Rajasthan in the budget," he alleged.

BRS Working President KT Rama Rao on Tuesday expressed disappointment with the Union Budget, alleging that Telangana received nothing.

Despite having a budget of more than Rs 48 lakh crores, only a few states received major benefits, he alleged.

Referring to BJP and Congress winning eight Lok Sabha seats each in Telangana (out of 17), Rama Rao said the people of the state should think as to what happened when they gave 16 seats to the two national parties. BRS drew a blank in the LS polls.

"It is disappointing that Telangana is not mentioned in the entire Budget. Once again, Telangana received nothing," he said in a statement.

The Centre has allocated Rs 5,958 crore for the Union Territory of Ladakh in the Union Budget 2024-25 announced on Tuesday, a massive 32 per cent rise from last year's allotment of Rs 4,500 crore.

The Ladakh UT, which was carved out of Jammu and Kashmir after the abrogation of Article 370 in 2019, has received Rs 2,035.49 crore for establishment expenditure of the Centre to meet its secretariat-related expenses and establishment of other departments and offices.

The Budget, announced by by Finance Minister Nirmala Sitharaman, has allocated to Ladakh Rs 3,922.51 crore for other Central sector expenditure, including agriculture and allied schemes, water supply and sanitation, rural development, power, forestry and wildlife, medical and public health, and education among other departments.

- PTI

In a post on X, LoP rahul Gandhi slammed the Centre calling the Union Budget an attempt to save their chair.

Gandhi wrote, "“Kursi Bachao” Budget. - Appease Allies: Hollow promises to them at the cost of other states. - Appease Cronies: Benefits to AA with no relief for the common Indian. - Copy and Paste: Congress manifesto and previous budgets."

Hailing the Union Budget presented by FM Nirmala Sitharaman, PM Narendra Modi asserted, "This budget will empower every section of society."

PM Modi also added that the budget's stress on youth, says its measures will open many new opportunities for youngsters.

"This budget puts emphasis on manufacturing as well as infrastructure; will speed up growth," he added.

The Trinamool Congress on Tuesday launched a scathing attack on the BJP-led NDA government at the Centre and said the Union Budget reflected the fiscal and political bankruptcy of the regime.

In a social media post, the party dismissed the term 'Union Budget 2024', renaming it as the 'Andhra-Bihar Budget'.

Senior TMC leader Kunal Ghosh in a post on X said, "This budget should not be labeled as union budget. It is a budget to keep Andhra Pradesh and Bihar happy. To save one's chair and keeping some others in good humour."

Accusing the Modi government of neglecting West Bengal and replicating successful social welfare schemes pioneered by the Mamata Banerjee administration, Ghosh emphasised that the Budget failed to address the nation's core issues and merely manipulated statistics and rhetoric.

- PTI

In a long post on X, Defence Minister Rajnath Singh wrote, "As far as the allocation to Ministry of Defence is concerned, I thank the Finance Minister for giving the highest allocation to the tune of Rs 6,21,940.85 Crore, which is 12.9 % of total Budget of GoI for FY 2024-25."

He added, "The capital outlay of Rs 1,72,000 Crore will further strengthen the capabilities of Armed Forces. Earmarking of Rs, 1,05,518.43 Crore for domestic capital procurement will provide further impetus to Atmanibharta. I am pleased that Border Roads have been given 30% increase in allocation over the last budget under the capital head. This allocation of Rs 6,500 Crore to BRO will further accelerate our Border Infrastructure. To boost the startup ecosystem in Defence Industries, Rs 518 crore has been allocated to iDEX scheme to fund technological solutions given by startups, MSMEs and innovators."

In a post on X, HM Amit Shah stated, "The Budget 2024–25 not only exemplifies Bharat's newfound sense of purpose, hope and optimism under the PM Modi Ji -led NDA government but also fortifies them. Harnessing the power of Bharat's youth, Nari Shakti and farmers, the budget fuels the nation's pace on the path of emerging as a developed nation by ushering in a new era of employment and opportunities."

He further called the budget, 'pro-people and pro-development' and visionary.

In the aim to secure the rights of the farmers or “Annadaata”, Shiromani Akali Dal MP Harsimrat Badal has moved a Private Members Bill in parliament to make Minimum Support Price a legal guarantee on all crops.

In a post on X, Sukhbir Singh Badal said, "This is the need of the hour to save farmers from indebtedness. This should be done as per the Swaminathan Commission recommendations which calls for ensuring a 50 % profit on the comprehensive cost of production. Farmers across the country are suffering because they are receiving only 30 per cent of the price paid by consumers. I appeal to all political parties to support the Bill to provide financial security to farmers, stabilise their income and encourage sustainable agriculture practices."

Congress MP Shashi Tharoor highlighted that their was no mention of MNREGA, development of income among bottom 40 per cent.

He said, "There are many things missing. There was no mention of MNREGA. There was no mention of any serious measures to improve the income of the bottom 40 per cent of our population whose income have gone down. There was very little addressing of inequality in our country today”.

Congress MP Manish Tiwari said, "There is an English proverb which says that the tail wags the dog, and that's the political message of this Budget. It has political compulsions written all over it."

Madhya Pradesh Congress president Jitendra (Jitu) Patwari said, "The history of the Modi government shows that it came to power with the promise of 2 crore jobs... Narendra Modi's government is of 'double lies' instead of 'double engine'..."

Sensex tanks 1,266.17 points to 79,235.91 after FM hikes STT on F&O; Nifty tumbles 435.05 points to 24,074.20.

The Finance Minister also said that the government will support development of Bihar's Nalanda as tourist centre, adding that Odisha will also get assistance for development in the tourism sector.

In a post on X, Chidambaram has alleged that several schemes mentioned din the new Union Budget that Nirmala Sitharaman presented today were taken from the Congress Manifesto.

He wrote, "I am glad to know that the Hon'ble FM has read the Congress Manifesto LS 2024 after the election results. I am happy she has virtually adopted the Employment-linked incentive (ELI) outlined on page 30 of the Congress Manifesto. I am also happy that she has introduced the Apprenticeship scheme along with an allowance to every apprentice spelt out on page 11 of the Congress Manifesto. I wish the FM had copied some other ideas in the Congress Manifesto. I shall shortly list the missed opportunities."

FM Nirmala Sitharaman said that salaried employee in new tax regime can save up to 17500 in income tax

Revised Tax Structure -

Annual Income | Percentage Of Tax

0-3 lakh : nil

3-7 lakh: 5%

7-10 lakh: 10%

10-12 lakh: 15%

12-15: 20%

above 15lakh -30%

The Centre on Tuesday proposed an outlay of Rs 26,000 crore for various road projects in Bihar.

In her Budget for 2024-25, Finance Minister Nirmala Sitharaman said the Union government will arrange financial assistance to Bihar through aid from multilateral development agencies.

The government will also set up airports, medical colleges and sports infrastructure in Bihar, she said.

The Centre will also formulate plan 'Purvodaya' for all-round development of Bihar, Jharkhand, West Bengal, Odisha, and Andhra Pradesh.

This comes after Centre's refusal to grant special status to Bihar.

FM Nirmala Sitharaman during Budget speech announced that the Centre will support development of corridors at Vishnupad Temple and Mahabodhi Temple in line with Kashi Vishwanath Temple.

Several Congress leaders participated in a meeting at party's Parliamentary Chairperson Sonia Gandhi's office during Budget announcement.

Financial Minister Nirmala Sitharaman says the Prime Minister Narendra Modi government will focus on 4 sections and they are - the poor, women, youth and farmers.

• Presenting the Union Budget for 2024-25 in the Lok Sabha, Sitharaman said this signals the government's commitment in enhancing women's role in economic development.

• The government will set up working women hostels to promote the participation of women in the workforce.

• FM Nirmala Sitharaman said, "We will facilitate higher participation of women in workforce by setting up of working women hostels in collaboration with industries and establishment of creches in addition the partnership will seek to organise women specific skilling programmes and promotion of market access for women SHG enterprises."

• Govt allocates over Rs 3 lakh crore for schemes benefiting women, girls.

Finance Minister Nirmala Sitharaman announced nine priorities in the Union Budget 2024-25 for generating ample opportunities in the economy.

The nine priorities are -

• productivity

• jobs

• social justice

• urban development

• energy security

• infrastructure

• innovation

• reforms

The Union Budget has accommodated Backward region grant for 3 districts of Andhra Pradesh.

FM Sitharaman added that the Central government will facilitate special financial support - Rs 15,000 cr arrangement in this fiscal and in future years for development of capital city in Andhra Pradesh.

Sitharaman further said under the AP Reorganisation Act, for promoting industrial developments, funds will be provided for essential infrastructure such as water, power, railways, and roads and also grants for backward regions of Rayalaseema, Prakasam North coastal Andhra Pradesh, as stated in the Act will be provided.

The 9 priorities of the Union Budget include productivity, jobs, social justice, urban development, energy security, infrastructure, and reforms, said FM Nirmala Sitharaman.

She also added that India's inflation continues to be stable and moving towards 4 per cent target; core inflation stands at 3.1 per cent.

FM said that the Centre will launch three employment-linked schemes and also provide incentive to 30 lakh youth entering job market by providing 1 month PF contribution.

"New centrally-sponsored scheme for skilling in collaboration with states, industry; 20 lakh youth to be skilled over 5 years," added Sitharaman.

Union FM said, "People have given unique opportunity to our govt to take India on path of strong development, all round prosperity" during her Budget speech which is also the first one since the third term of the PM-Modi led government.

This comes after the Lok Sabha election results which reduced the percentage of BJP-led NDA allies in Parliament.

PM Garib Kalyan Ann Yojna was extended for 5 years benefiting 80 crore people.

Union FM said, "As mentioned in interim-budget, we need to focus on poor, women, youth and farmers."

She also added, "Budget to focus on employment, skilling, MSME and middle class."

Finance Minister Nirmala Sitharaman began her Budget address saying, "People of India have reinforced their faith in govt led by Modi and re-elected it for third term."

She mentioned, "Global economy is still in the grip of policy uncertainty."

"India's inflation continues to be stable and moving towards 4 pc target; core inflation stands at 3.1 pc," she added.

Union Finance Minister Nirmala Sitharaman begins to present the first Union Budget of Modi government 3.0 after Prime Minister Narendra Modi-led Union Cabinet cleared it.

Aam Aadmi Party leader Sanjay Singh speaking to reporters on Monday ahead of the Budget presentation in Parliament said, "The people of India are bearing the pain of inflation for the last 10 years. The people are waiting to see if the Budget will bring MSP for farmers. The youth will wait to see if there will be any facilities for the 'Agniveers'."

Delhi Minister and AAP leader Atishi stated, "We are hoping that Rs 20,000 crore from the tax share will be given to the Delhi government. Delhi people should receive 10 per cent of the Rs 2 lakh crore income tax and Rs 25,000 crore central share of GST that they pay."

The Union Cabinet headed by Prime Minister Narendra Modi on Tuesday approved the full budget for 2024-25.

Following this, Finance Minister Nirmala Sitharaman will present her seventh budget in the Lok Sabha.

Prime Minister Narendra Modi in Parliament ahead of the presentation of the Union Budget by Finance Minister Nirmala Sitharaman

Finance Minister Nirmala Sitharaman on Tuesday called on President Droupadi Murmu before presenting the full Budget for 2024-25.

As per established tradition, the finance minister met the President at the Rashtrapati Bhavan before heading to Parliament.

President Murmu offered 'dahi-chini' (curd-sugar), considered auspicious, to Sitharaman before she left for Parliament to present the Union Budget.

Union Home Minister Amit Shah and Defence Minister Rajnath Singh reached Parliament.

Union Minister Pralhad Josh after reaching Parliament told PTI, "The economic progress witnessed under the leadership of Narendra Modi will continue further. As India is the fastest growing economy in the world, the Budget will be according to that."

Union Finance Minister along with MoS Finance Pankaj Chaudhary and her team reached Parliament ahead of the Budget session.

Union Ministers Giriraj Singh and Dharmendra Pradhan have also reached Parliament.

“There is excitement. An aspirational Budget will be presented to take the country forward,” said Union Minister Jayant Chaudhary upon reaching Parliament.

Stock markets climbed in early trade on Tuesday, with the Sensex climbing over 264 points, ahead of the Union Budget presentation later in the day as investors' sentiment turned buoyant amid foreign fund inflows and a rally in the US peers.

The 30-share BSE Sensex climbed 264.33 points to 80,766.41 in early trade. The NSE Nifty went up 73.3 points to 24,582.55.

- PTI

Congress MP Pramod Tiwari poses few questions ahead of the Union Budget which will be presented by the Finance Minister today.

He said, "The farmer is distressed and middle class is connected to the farmer. Will MSP be assured to farmers? Will anything be done for employment and small businesses? The middle class should get further rebate in income tax slabs."

Jammu and Kashmir budget copies have arrived in Parliament ahead of Union Finance Minister Nirmala Sitharaman presenting the estimated receipts and expenditure (2024-25) of the Union Territory of Jammu and Kashmir (with legislature) in Parliament today.

The Congress on Sunday had asserted at an all-party meeting that issues such as the NEET 'scam', the Uttar Pradesh government's order to eateries and internal security situation in Jammu and Manipur, be taken up for discussion during the Budget session of Parliament.

The party is also expected to raise issues such as "challenges" on the borders with China and environmental concerns arising out of floods and natural disasters, deforestation and pollution.

The Lok Sabha on Monday took up a discussion on India's preparedness for the Paris Olympics with opposition members questioning the timing of the debate on the games that begin later this week.

During the course of the discussion, Congress member Deepender Hooda raked up the issue of alleged sexual harassment by former BJP MP Brij Bhushan Sharan Singh. Though he did not name Singh, Hooda said a situation should not come when players have to fight their own government and the system.

Parliamentary Affairs Minister Kiren Rijiju, who had earlier held charge of the sports ministry, intervened to say that members should avoid raising "federation fights" in the House.

- PTI

The Centre has ruled out any plans for special status for Bihar, which was one of the core demands of NDA ally - Janata Dal United.

In a written response to the Lok Sabha, Minister of State for Finance Pankaj Chaudhary said "case for Special Category Status for Bihar is not made out".

Special status for the state of Bihar was one of the core demands made by the JD(U) led by Nitish Kumar. Nitish Kumar and the JD(U) joined hands with the BJP after the Lok Sabha Elections to form the new NDA government at the Centre.

India saw a massive 280 per cent increase in the number of projects recommended in wildlife sanctuaries and national parks in 2023-24 as compared to 2022-23, according to the data presented in Parliament on Monday.

Union Minister of State for Environment Kirti Vardhan Singh also informed the Lok Sabha that a total of 957.25 square kilometers or 95,724.99 hectares of forest area has been diverted for non-forestry use under the Van (Sanrakshan Evam Samvardhan) Adhiniyam, 1980 over five years starting from April 2019.

The minister said that 71 project proposals were approved in national parks and wildlife sanctuaries across the country in 2019-20. The numbers stood at 85 in 2020-21, 154 in 2021-22, 150 in 2022-23, and surged to 421 in 2023-24.

- PTI

Union Finance Minister Nirmala Sitharaman arrived at Finance Ministry, North Block. She is set to table the Budget later today.

Jal Shakti Minister C R Patil on Monday said the slow progress in the implementation of the Har Ghar Jal initiative under the Jal Jeevan Mission in some parts of the country was due to the "states' own reasons".

Responding during Question Hour in Rajya Sabha, Patil said the Centre has reviewed the progress of the project and offered required support to the states.

The tap water supply under the Har Ghar Jal initiative has reached 6.6 crore rural households in the last two years, he informed the House.

The minister emphasised that while the Centre provides funding and technical support, the onus of implementation is with the state governments.

"There has been slow progress in some parts of the country due to the states' own reasons," Patil noted.

"Not only Maharashtra, we held a review meeting with all state chief ministers and officials and offered required support to them," the ministry said replying to a supplementary query.

- PTI

Union MoS Pankaj Chaudhary arrived at Ministry of Finance, North Block ahead of the second day of Monsoon session in Parliament.

Education Minister Dharmendra Pradhan in response to LoP Rahul Gandhi's comment on the NEET-UG row, said it was unfortunate that the examination system had been described as rubbish.

Further the minister claimed, "There is no evidence of paper leaks in the last seven years in any numbers."

Congress member Manickam Tagore had alleged that there have been 70 paper leaks in seven years during the session on Monday.

Rahul Gandhi, Leader of Opposition in Lok Sabha, said it is obvious to the whole country that there is a very serious problem in the examination system, not just in NEET but in all major examinations.

"The minister has blamed everybody except himself. I don't even think he understands the fundamentals of what is going on here... the issue is there are millions of students in this country who are extremely concerned about what is going on and who are convinced that the Indian examination system is a fraud," he said.

If you are rich and have money, you can buy the Indian examination system, Gandhi alleged.

"As this is a systemic issue, what exactly are you doing to fix this issue at the systemic level?" he asked Pradhan, who was responding to queries during Question Hour.

The Economic Survey, tabled by Finance Minister Nirmala Sitharaman in Parliament, projected a 6.5 per cent to 7 per cent GDP growth rate in the current fiscal year that started in April.

The Survey also flagged the need for creating more jobs in the economy and backed more Chinese direct investments to boost exports.

Prime Minister Narendra Modi on the first day on Monsoon session stated, "It is a matter of immense pride for me personally as well as for all of our colleagues that after nearly 60 years a government has come back for the third time and has got the privilege of presenting the first budget of the third term. The country is seeing this as a very proud event in the glorious journey of Indian democracy."

Establishing the importance of the budget for the next five years of his third term, PM Modi said, We are moving ahead with the aim of gradually realising the guarantees that I have been giving to the people of the country. This budget is an important budget of Amrit Kaal. We have got an opportunity of five years and this budget will determine the direction of our work for those five years and also lay a strong foundation for fulfilling our dream of a 'Viksit Bharat' in 2047, when we will celebrate 100 years of independence."

Finance Minister Nirmala Sitharaman tabled the Economic Survey document in Parliament on Monday, July 22. "India’s real GDP grew by 8.2 per cent in FY24, posting growth of over 7 per cent for a third consecutive year, driven by stable consumption demand and steadily improving investment demand," said the survey.

According to experts, the Union Budget is expected to remain a growth-oriented budget and investors are exercising caution. Sectors like railway, infrastructure, energy, oil, power, auto, and banking are likely to be in focus.

The Centre has listed six new bills for introduction for the Monsoon session of the Parliament that commenced on July 22 and they are -

• Replacing the Aircraft Act of 1934

• Finance Bill

• 'The Disaster Management (Amendment) Bill'

• Boilers Bill

• Coffee (Promotion and Development) Bill

• Rubber (Promotion and Development) Bill

The Opposition put pressure on the NDA government over several important matters as the Budget session of Parliament began on Monday. Finance Minister Nirmala Sitharaman presented the Economic Survey 2023-24. Prime Minister Narendra Modi spoke to the media before the session but did not answer any questions. The issues raised included the NEET paper leak and railway safety.

Union Finance Minister Nirmala Sitharaman continues to be the first woman in the role to present the Union Budget for seven consecutive years.

Lok Sabha and Rajya Sabha are each likely to have a 20-hour discussion on the Union budget, which Finance Minister Nirmala Sitharaman will present on Tuesday, with the Lower House expected to have separate debates covering ministries of railways, education, health, MSME and food processing.

In Rajya Sabha, sources said, a discussion for eight hours is likely to be scheduled on the appropriation and finance bills, and a four-hour debate each on four ministries, which are yet to be identified.

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