Budget live updates Till 11:25 am: In her Budget speech for 2024, Union Finance Minister Niramala Sitharaman emphasized the inclusive approach of the Prime Minister Narendra Modi-led NDA government. She highlighted the government's focus on prioritizing the needs of the poor, women, youth, and farmers.
Nirmala Sitharaman's Live Speech: Tweaks in specific income tax rates, particularly aimed at individuals at the lower end of the taxpayer spectrum, are anticipated.
There's an expectation of an increase in the standard deduction, along with a higher exemption limit, to encourage taxpayers to transition to the new income tax system.
Prior to the 2019 Lok Sabha elections, the then Finance Minister Piyush Goyal had suggested raising the standard deduction and the threshold for tax deduction at source.
"Our government's primary focus remains on the well-being of the less privileged sections of society. We are committed to uplifting the poor, empowering women, supporting the aspirations of our youth, and ensuring the welfare of our hardworking farmers," Sitharaman stated at the outset of her budget address.
She expressed optimism about the future of the country, citing its youthful population and their aspirations for a better tomorrow. Sitharaman also expressed confidence that the government's efforts would be recognized and supported by the people in the upcoming elections.
Overall, Sitharaman's Budget speech underscored the government's commitment to inclusive development and its dedication to addressing the needs of marginalized communities across India.
Live Updates: Budget 2024 Interim Budget Approved by Cabinet; Sitharaman Kicks off Speech