Watch Budget 2024 Live: The Interim Budget for 2024 is scheduled to be presented in the Parliament by Union Finance Minister Nirmala Sitharaman on February 1. Sitharaman has indicated that the budget is unlikely to feature major announcements, considering it’s a vote-on-account ahead of the Lok Sabha elections.
As this is an interim budget, no Economic Survey was presented, and a full-fledged budget is expected to follow post the elections, likely in July, once the new government is formed.
Nirmala Sitharaman, who became India’s first full-time female finance minister in July 2019, is set to deliver her sixth consecutive budget, matching the record of Dr. Manmohan Singh. This surpasses her predecessors Arun Jaitley and Yashwant Sinha, both of whom presented five budgets in a row.
The budget speech can be watched live on India Today and Aaj Tak TV channels, as well as the YouTube channel of Business Today. Updates can also be followed through live blogs on Business Today, India Today, and Aaj Tak. Additionally, the speech will be broadcasted on Doordarshan (DD) News and the YouTube channel/website of the Press Information Bureau (PIB).
Despite being a vote-on-account, expectations from the budget include calls for a reduction in taxes, an increase in income-tax rebate thresholds, a revised capital gains tax system, additional benefits under the new tax regime, and the exclusion of goods and services tax (GST) from insurance policies.
The recruitment industry is keen on budgetary allocations for workforce development and skill enhancement, with a focus on regulatory frameworks for the gig economy and contingent workforce. Sectors are anticipating targeted incentives to boost investment, job creation, and industrial expansion.
Women entrepreneurs are hoping for increased budgetary allocations to improve their access to capital, emphasizing the need for more equity-based funding. The call is for a more inclusive and accessible financial ecosystem, acknowledging the crucial role women entrepreneurs play in fostering equity in the business landscape in India.