Budget 2024 Updates: Nirmala Sitharaman prioritises affordable housing, Green growth, boosts capex

Budget 2024 Updates: Finance Minister Nirmala Sitharaman delivered her Budget speech, presenting the Interim Budget 2024-25 at Parliament on Thursday, February 1, a day after the commencement of the Budget Session.

Applauding the interim budget, PM Modi said investment for capital expenditure was taken to a historic high of ₹11,11,111 crore. Calling India's capex and infra spending situation to be on a ‘sweet spot’, PM Modi underlined the creation of enumerable job opportunities for youngsters in the coming years.

"This budget has a reflection of the young aspirations of a young India. Two important decisions were made within the Budget. For research and innovation, a fund of ₹1 Lakh Crore has been announced," said PM Modi.

Key Budget 2024-25 major announcements:

-FY25 gross borrowing is estimated at ₹14.13 trillion, achieving a reduction from that of FY24

- Research 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.

-FM Nirmala Sitharaman has raised outlay for infrastructure by 11% for FY 25 to ₹11,11,111 crore from ₹10,00,000 crore.

-FM has adopted an aggressive fiscal consolidation target. She has announced an FY25 fiscal deficit target of 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%.

-FM announces a scheme for housing for the middle class to those living in rented houses, slums, and unauthorised colonies to buy or build their own house.

-More medical colleges to be set up using existing infrastructure. Healthcare cover under Ayushman Bharat scheme to be extended to all Anganwadi workers, helpers

-Efforts to boost farmers' income will be stepped up. To reduce fertiliser imports and subsidies, the government will encourage faster adoption of nano DAP. Government to promote private investment in post-harvest activities

- The Finance Minister Sitharaman announced the withdrawal of outstanding disputed tax demands. The move is set to benefit 1 crore taxpayers.

- In a disappointment for the taxpayers, the FM chose to keep the tax rates unchanged in the interim Budget 2024, including import duty. However, certain benefits to start-ups and tax exemptions to certain IFSC units expiring in March will be extended to March 2025.

Read the latest news on Budget 2024 with our live coverage on the Income Tax Slab, Impact on Share Market, Budget Key Highlights, Corporate Reactions, and Funny Memes.

FAQs on the Interim Budget 2024:

Where to watch FM Nirmala Sitharaman’s speech?

Finance Minister Nirmala Sitharaman's Budget speech will be telecasted live on the official channel of Parliament Sansad TV and Doordarshan.

Where to read the Budget 2024 document?

The interim Budget 2024 can be accessed in a "paperless form" through the Union Budget Mobile App. The bilingual app, available in English and Hindi, can be downloaded on Android, iOS, or from the Union Budget Web Portal (www.indiabudget.gov.in). This Government of India app will provide all essential Budget documents, including the Annual Financial Statement, Demand for Grants, and the Finance Bill as mandated by the Constitution. Budget documents will be promptly available on the Mobile App following the conclusion of the Budget Speech.

What are the major tax reforms introduced by FM Sitharaman in Budget 2024?

Finance Minister Nirmala Sitharaman didn't announce any major income tax announcements. The tax rates were kept unchanged. The government has extended the deadline fortarget certain tax benefits to startups and exemptions to specific IFSC units to March 2025.

What is the fiscal deficit announcements for FY 2024-2025?

The fiscal deficit target for FY 25, was fixed by the FM as 5.1% as against the expectation of 5.3% levels.

What are the major announcement for the Railways sector?

In the interim budget, FM Sitharaman announced three major economic railway corridor programmes under are PM Gati Shakti: energy, mineral and cement corridors; port connectivity corridors, and high traffic density corridors.

Follow updates here:

2 Feb 2024, 07:39:23 PM IST

Budget 2024 Live: The key takeaways were not beyond expectations, considering that the main budget will be presented once the new government is sworn in at the center

Avinash G Singh, Executive Vice President, Investment Research and Advisory, Aranca, said, "India’s Finance Minister, Ms. Nirmala Sitharaman, presented the interim budget for 2024, coinciding with the upcoming General Elections scheduled to be held this year. The key takeaways were not beyond expectations, considering that the main budget will be presented once the new government is sworn in at the center. That said, the FM’s focus on tourism, air and road connectivity, affordable housing, and healthcare in her speech reflects the government's long-term plans to improve the quality of life for the middle class through multi-year initiatives.

Additionally, the proposed provision of 300 units of free electricity for 10 million households under the new solar power policy also underscores the government's commitment to advancing investments and development within the renewable energy space.”

2 Feb 2024, 07:27:11 PM IST

Budget 2024 Live: Shruti Shibulal CEO & Director, Tamara Leisure Experiences Pvt. Ltd, analyzes the tourism sector

“The infrastructural support extended in the current budget (across air, water, railways and roads) will be an essential boon for tourism. In addition to this, I believe that promoting ‘Destination India’ would require us to look holistically at ensuring that our country can sustainably manage an uptick in tourism. This includes prioritising the wellbeing of native communities, protecting heritage sites, preserving natural ecosystems and promoting circular economies to secure responsible consumption and production chains. While advocating the promotion of iconic destinations, we can also look at increasing access to remote areas of the country where travellers can seek out unique experiences. I would also urge each of us to work collectively to mitigate the impact of tourism on people and the planet in accordance with global sustainability benchmarks. This can be done through various macro and micro initiatives in collaboration with public, private and non-governmental organisations across the industry.”

2 Feb 2024, 07:04:51 PM IST

Budget 2024 Live: Finance Minister announced to set up more medical colleges, utilising India’s existing hospital infrastructure under various departments

Rajit Mehta, MD & CEO, Antara Senior Care, Part of Max Group, said, “At Antara Senior Care, we are excited to witness a new era of progress in the Indian healthcare sector with the boost that the Union Budget 2024 provides. We applaud the Hon. Finance Minister’s announcement to set up more medical colleges, utilising India’s existing hospital infrastructure under various departments. This will also pave the path for delivering more effective and holistic geriatric care enabling the senior population to live with dignity and respect. This is a strong step in the right direction and by fostering greater collaboration between policymakers, industry stakeholders we can all better address the evolving health and lifecare needs of our seniors."

2 Feb 2024, 06:44:23 PM IST

Budget 2024 Live: The multi-modal connectivity will undoubtedly streamline the movement of goods

Mahendra Shah, Chairman and Managing Director, V-Trans, said, "The interim budget presents a positive outlook, showcasing significant strides in managing the fiscal deficit. For the fiscal year 2024, the deficit stands commendably at 5.8%, comfortably aligning with the budget, with a targeted reduction to 4.5% by fiscal year 2026.

We welcome the government's visionary approach towards infrastructure development as outlined in the Interim Budget 2024-25. In terms of the logistics sector, there are two notable highlights. Firstly, the emphasis on infrastructure development directly enhances logistical efficiency. The budget allocates a substantial increase of 11.1% in infrastructure spending compared to the previous year, totaling INR 11.11 Lakh Crore. The commitment to enhancing our country's logistics and transportation sector is evident through initiatives like the implementation of major railway corridor programs under PM Gati Shakti. This strategic move not only aims at improving logistics efficiency but also promises a significant reduction in costs. The multi-modal connectivity will undoubtedly streamline the movement of goods, benefitting not only the logistics industry but also contributing to the nation's economic growth.

Moreover, the government's focus on reducing logistics costs is a game-changer. As a logistics company, we recognize that this emphasis directly translates into improved services and reduced expenses, ultimately benefiting consumers. Lower logistics costs and associated taxes have a domino effect, leading to a decrease in the prices of goods and services. This budgetary commitment aligns seamlessly with our aim to provide efficient, cost-effective, and reliable logistics solutions.

In conclusion, Budget 2024 reflects a forward-looking approach, with its strategic emphasis on infrastructure development, PM Gati Shakti's initiatives, and reduction in logistics costs. As a logistic player, we are excited about the positive impact this will have on our operations and, more importantly, on our customers, fostering a more vibrant and competitive market for all."

2 Feb 2024, 06:30:16 PM IST

Budget 2024 Live: Budget will also bolster awareness about solar technology and its benefits across diverse customer segments

Kalyanram udathu, CEO, Enerparc Pvt. Ltd, said, "The Budget proposal for solarizing 1 crore households and providing up to 300 units of free electricity monthly is a significant step towards promoting renewable energy adoption in India. While the focus is on residential customers, it will also bolster awareness about solar technology and its benefits across diverse customer segments, thereby further accelerating the renewable energy adoption. As India progresses towards a cleaner and more sustainable energy trajectory, initiatives such as the Pradhanmantri Suryodaya Yojana are instrumental in fostering awareness and acceptance of solar energy solution,” said Kalyanram Udathu, CEO of Energy, Enerperc, a leading EPC and IPP company having portfolio of more than 4100 MW globally and specializes in solar energy solutions for corporate and industrial clients”

2 Feb 2024, 06:14:18 PM IST

Budget 2024 Live: Interim Budget announcements will also help in creating more employment opportunities across its ancillary industries

Deepak Patkar, MD & CEO, SMFG Grihashakti, said, “The announcements in the Interim Budget on the intention to launch a new scheme tailored for the deserving sections of the middle class is a step in the right direction towards ensuring universal homeownership. We are also happy to note the continued focus by the government on infrastructure development which will aid the real estate sector as well as the vision of extending PM Awas Yojana Grameen scheme to build another two crore homes over the next five years. These steps not only support the growth trajectory of the housing sector but it will also help in creating more employment opportunities across its ancillary industries. The government has also stated that they will pay attention to making the eastern region and its people powerful drivers of India’s growth, giving impetus to affordable housing development in the region”

2 Feb 2024, 05:55:25 PM IST

Budget 2024 Live: The budget commits to launching new retail destinations

Varun Tangri CEO and founder at QueueBuster POS, said, "Entering India's Interim Union Budget 2024, the spotlight on infrastructure and road development marks a pivotal moment for the Retail and Retail Technology industry. With an injection of 11 Lakh crore and the PM GatiShakti project, we witness a strategic push for economic corridors, opening doors for three new corridors that will strengthen and expand organized retail in newer cities.

Acknowledging the retail sector's key role in India's economy, the budget commits to launching new retail destinations, aligning seamlessly with our vision. Globally, our country has secured its place as the fourth-largest retail destination, driven by a surge in demand for lifestyle products. As India targets the third-largest consumer market by 2030, strategic investments in infrastructure promise substantial growth.

In a noteworthy move, the budget raises the presumptive taxation threshold for retail businesses to ₹3 crore, offering valuable support to SMEs in the sector. These initiatives will surely be instrumental in positioning India as the world's largest retail destination in the coming decades.”

2 Feb 2024, 05:25:33 PM IST

Budget 2024 Live: Budget has set a very promising goal on augmenting infrastructure capacities, viability funding for wind energy, the mega railway corridors and much more

Prof. Jayadev M, Chairperson, Centre for Capital Markets and Risk Management and Professor in the Finance & Accounting area, IIM Bangalore, said, “The Union Budget has set a very promising goal on augmenting infrastructure capacities, viability funding for wind energy, the mega railway corridors, new ports including Lakshadweep and improving the quality of urban infrastructure by going for metro transportations. The increase in capex by the government also increases the private investment both for capex and working capital and improves credit outflow. Capex increase will create new employment opportunities but the government to be cautious about inflation push in this process. While regarding the tax proposals the budget disappointing many middle-class taxpayers. Since last two years the prices of grains, pulses, milk, and other food commodities have increased substantially, post covid period health care cost and cost of education have also increased, thus overall increase in cost of living. By keeping the tax slabs unchanged, the middle class have hardly any residual money for savings. Data also substantiates overall reduction in household sector savings. With the increase in price levels and cost of living without any tax benefits, individuals are borrowing more, increased individual leverage may not be a healthy feature for the economy."

2 Feb 2024, 05:07:28 PM IST

Budget 2024 Live: There is a significant need for sustainable and economical last-mile connectivity

Prasan Firodia, Managing Director, Force Motors, said, "The Indian mobility needs are rapidly changing. With the growing urbanisation and consequent growth of public transport solutions in the cities, there is a significant need for sustainable and economical last-mile connectivity. Our focus aligns with the Indian Government’s focus on ensuring Safe, Adequate and Holistic Infrastructure (SAHI) for all our citizens. We are confident that our urban mobility solutions can play a vital role in decongesting roads through efficient mobility solutions and we are looking forward to offering our solutions to major urban centres where they can symbiotically enhance the connectivity from Public Transportation points.”

Force Motors was founded with the vision of providing affordable commercial transport for the masses by harnessing the best available technology and offering economical, reliable and efficient products. The three vehicles that we have displayed at the Bharat Mobility Expo not only stand true to that vision but also embody the company's commitment to innovation, sustainability, and performance, serving as a testament to Force Motors' dedication to shaping the future of urban mobility.”

2 Feb 2024, 04:45:29 PM IST

Budget 2024 Live: Interim Budget 2024-25 focuses on major pillars of our society – ‘Poor’, ‘Women’, ‘Youth’ and ‘Farmer’

Amit Gainda, Managing Director & CEO, Avanse Financial Services, said, "The Interim Budget 2024 was extremely progressive and high on intent. It prioritised four major pillars of our society – ‘Poor’, ‘Women’, ‘Youth’ and ‘Farmer’. We would like to congratulate the Government of India for achieving milestones in youth training and educational expansion as a part of their Skill India Mission. It’s a proud moment for India as Skill India Mission has successfully trained 1.4 crore youth, upskilled and re-skilled 54 lakh youth, and established 3,000 new ITIs.

The Budget announcement also highlighted that female enrolment in higher education has increased by 28% in the last ten years. In STEM courses, girls and women constitute 43% of enrollment, one of the world’s highest. We are ecstatic about this development and aspire to contribute in our own way to increase this number in our journey to democratise education and education financing in India. We at Avanse Financial Services have always focused on creating robust platforms to motivate female aspirants to pursue their higher education dreams. As of H1FY24, more than one-third of the total students funded by Avanse are women. We strongly believe that educating women results in empowered families, stronger societies, a knowledgeable economy and, ultimately, a prosperous nation. Thus, we will continue encouraging women to pursue their academic aspirations and fortify their journey towards upward mobility.

This Interim Budget highlighted and captured all the crucial parameters required to build on the vision of ‘Viksit Bharat’. We believe that the next Budget will focus more on the implementation aspect of the same. Team Avanse Financial Services promises to stand by the youth to assist them in accessing quality education, educational infrastructure, and various schemes planned for them to become Atmanirbhar."

2 Feb 2024, 04:21:55 PM IST

Budget 2024 Live: Ram Iyer, Founder & CEO of Vayana, analyzes the infrastructure development

“The priority given to infrastructure development and the utilization of Digital Public Infrastructure is poised to continue to yield favourable outcomes and offer MSMEs more avenues to access formal financing. This aligns with our vision at Vayana, where the convergence of technology and finance is pivotal in enabling low-cost capital to MSMEs. The budget, characterized by continuity, upholds the government’s commitment to maintaining the consistency of existing policies. As anticipated for an interim budget, the government has laid the foundation for a more detailed financial roadmap to be unveiled in July.”

2 Feb 2024, 03:53:41 PM IST

Budget 2024 Live: Sustainable energy policies to pave the way for economic growth of the nation

Aditi Bhosale Walunj, Founder and CVO at Repos Energy, said, “The Indian Economy is expected to have steady growth, as predicted by multiple agencies. But we have to keep on emphasising on structural reforms, and one of the key factors in that is Energy security. So it is great to see that the Govt. of India is taking active steps in this direction with the Nation Green Hydrogen Mission. This is a progressive step towards sustained future growth as it would ensure an uninterrupted supply of clean energy to all the stakeholders. The technological applications may also benefit us in the efficient and optimal use of currently available fuels. 24/7 easy access to energy shall drive domestic production. This emphasis on sustainable energy policies coupled with fundamental infrastructural developments will for sure drive the economic growth of the nation.”

2 Feb 2024, 03:32:19 PM IST

Budget 2024 Live: Government's commitment to promoting sustainable mobility is a welcome step towards a greener future

Devndra Chawla, MD and CEO, GreenCell Mobility, said, " We commend the major announcements made by Finance Minister Smt. Nirmala Sitharaman in the Interim Budget 2024. The government's commitment to promoting sustainable mobility is a welcome step towards a greener future. Focusing on increased usage of e-buses for public transport networks is a noteworthy initiative. As a green mobility firm, we applaud this effort for its potential to greatly cut carbon emissions and improve the overall efficiency of public transit networks. This decision is completely aligned with our aim to promote ecologically friendly urban mobility alternatives.

Furthermore, encouraging states to undertake the entire development of renowned tourist destinations and sell them worldwide is a smart decision. This not only benefits the tourism industry, but it also presents opportunity for sustainable transportation solutions in these places. We look forward to contributing to such projects with our environmentally friendly mobility solutions.

The commitment to a significant FY25 capex spend of 3.4% of GDP and a capex target of ₹11.1 trillion, an 11.1% increase, is very bold and forward looking step. It demonstrates the Government's commitment to infrastructure development. The assistance for the production and manufacture of electric mobility is well aligned with our main business. We applaud the Government's measures in promotion of sustainable mobility which plays a crucial role in creating a cleaner and greener world.

The announcement highlights the promotion of charging infrastructure for electric vehicles and increased adoption of e-buses in public transport networks. This will be facilitated through a payment security mechanism. The government's initiative not only drives electric vehicle adoption but also creates entrepreneurial opportunities for vendors involved in the supply and installation of EV chargers. This approach contributes to employment generation, particularly for skilled youth, aligning with our vision of promoting sustainability and fostering economic growth.

Lastly, the focus on solar energy and the rooftop solarisation scheme is a forward-looking initiative. It not only aims to provide free electricity to households but also acts as a catalyst for the growth of the electric vehicle charging ecosystem. We appreciate the holistic approach towards sustainable development, which not only considers the end-users but also fosters entrepreneurship and employment opportunities across the value chain.

At last, the Interim Budget 2024 sets an optimistic tone for the future. We believe that the next few years will indeed be filled with golden moments as the nation progresses toward a more sustainable and resilient future. We eagerly look forward to contributing to and benefiting from these positive changes in the mobility and energy sector."

2 Feb 2024, 03:14:35 PM IST

Budget 2024 Live: The Interim Budget 2024-25 included initiatives to eliminate sickle cell anaemia by 2047

Raj Gore, CEO, HealthCare Global Enterprises Ltd said, "I appreciate the government’s push for a comprehensive health development for women in this budget. The emphasis on promoting cervical cancer vaccination for girls aged 9-14 is a pivotal step towards raising awareness and taking preventive measures to reduce cervical cancer burden in India. The budget announced other initiatives such as comprehensive programs for maternal and child healthcare schemes, mission to eliminate sickle cell anaemia by 2047, and setting up more medical colleges by utilizing existing hospitals. These steps will help in improving overall national health indicators in future. It is also important to recognize the significance of universal healthcare in ensuring equitable access to quality healthcare services for all citizens. However, I strongly recommend an increased allocation to the healthcare sector in the upcoming post-election budget."

2 Feb 2024, 02:35:32 PM IST

Budget 2024 Live: Paving the Way for Greener Growth with Renewables, Agri-Support, and Youth Entrepreneurship

Ranjit Barthakur, Founder of Balipara Foundation, commends the strides in Budget 2024 towards renewable energy, agri-support systems, and youth entrepreneurship, steering India toward a greener economic trajectory. The focus on reaching a 49GW annual renewable energy capacity, coupled with schemes for rooftop solar and offshore wind installation, reflects a commitment to sustainable energy growth.

Emphasizing the role of youth in driving green entrepreneurship, the budget aligns with the transition towards a green economy. The incentivization of biofuels, while promising, necessitates careful regulations to prevent ecological imbalance, especially in regions like the North East. The focus on value addition processes for farming addresses post-harvest losses, with a keen eye on incentivizing investment in the post-harvest value chain, storage capacity, and accessible market transport for small and marginal farmers. The budget aims at not only economic growth but also ensuring sustainability and inclusivity in India's development.

2 Feb 2024, 02:34:35 PM IST

Budget 2024 Live: Interim Budget Propels Technological Progress, Embracing the Digital Revolution and Deep Tech for Defense Advancement

Vaibhav, CTO at PrivEzi, analyzes the 2024 budget, identifying a significant impetus for technological progress. The budget's emphasis on digital infrastructure showcases the government's commitment to accelerating the ongoing digital revolution. Notably, the recognition of deep tech's role in driving defense activities underscores a dedication to technological advancement.

As we step into this digital era, the transformative impact of technological strides extends beyond the economy, creating opportunities for individuals through the development of Digital Public Infrastructure. The budget's provisions for additional AI interventions and the development of data centers signal a path forward marked by continued growth and innovation.

2 Feb 2024, 02:33:18 PM IST

Budget 2024 Live: Jayesh Jain, Group CFO of Balanchero India, Applauds Transformative Path of Interim Budget Towards 'Viksit Bharat' by 2047

Jayesh Jain, Group CFO of Balanchero India, lauds the Interim Budget for charting a transformative path towards 'Viksit Bharat' by 2047, envisioning India as the world's third-largest economy. The notable 50% rise in average real income is seen as a catalyst for economic empowerment for millions.

Highlighting the government's resolute commitment to innovation and digital transformation, Jain points to a ₹1 lakh crore corpus and a 50-year interest-free loan for tech initiatives. He expresses confidence in the sector's potential, citing expanded schemes like Mudra Yojana and robust gateways through the International Financial Services Centres Authority (IFSCA).

The extension of tax benefits until March 31, 2025, for startups, investments by sovereign wealth or pension funds, and certain IFSC unit incomes, reflects the government's promise to foster entrepreneurial endeavors and promote sustainable growth. Jain emphasizes that this budget seamlessly aligns with Balanchero India's vision of serving the next billion while creating a digitally inclusive India. He expresses trust that their efforts will leverage these opportunities to drive financial inclusion, empower individuals, and propel the nation towards economic prosperity.

2 Feb 2024, 01:57:26 PM IST

Budget 2024 Live: Dheeraj Arora, HRIPL's Managing Director & CEO, Applauds Budget's Emphasis on Growth and Sustainable Development

Dheeraj Arora, Managing Director & CEO of HRIPL, expresses satisfaction at the substantial emphasis placed on achieving a harmonious blend of economic growth and sustainable development in the budget speech. Arora commends the focus on embracing new-age technologies, innovation, and entrepreneurship as the foundational pillars of the budget.

2 Feb 2024, 01:56:31 PM IST

Budget 2024 Live: Kalyanram Udathu, CEO of Enerparc Pvt. Ltd., Applauds Budget's Milestone Initiative for Solar Energy Adoption

Kalyanram Udathu, CEO of Enerparc Pvt. Ltd., praises the Budget's groundbreaking proposal to solarize 1 crore households and provide up to 300 units of free electricity monthly. This significant step not only focuses on residential customers but also aims to raise awareness about solar technology and its benefits across diverse customer segments. Udathu believes this approach will further accelerate the adoption of renewable energy in India.

2 Feb 2024, 01:55:34 PM IST

Budget 2024 Live: Naveen Tewari, InMobi Group's Founder & CEO, Applauds Government's Visionary Budget and Tech-Focused Initiatives

Naveen Tewari, Founder & CEO of InMobi Group, extends commendation to the government for its forward-looking budget, emphasizing research, innovation, and sustainable technology. The allocation of a one lakh crore corpus for long-term financing in innovation aligns seamlessly with InMobi and Glance's commitment to developing cutting-edge technologies in India.

Tewari notes the significance of the introduced 50-year interest-free loans, heralding a golden era for the tech-savvy youth. He underscores the foundational impact on sectors such as consumer-tech, semiconductor design and production, quantum computing, and emerging technologies like AI. Tewari anticipates future budgets to delve deeper into AI development and research.

2 Feb 2024, 01:54:27 PM IST

Budget 2024 Live: Felix Kim, Redrob's Co-founder & CEO, Commends Government's Forward-Thinking Approach in Interim Budget

Reflecting on the Interim Budget presented by Finance Minister Sitharaman, Felix Kim, Co-founder & CEO of Redrob, expresses appreciation for the government's commitment to economic growth and the vision for 'Viksit Bharat.' Notable highlights include the withdrawal of outstanding direct tax demands up to Rs. 25,000 and the extension of tax exemptions for startups, showcasing a proactive stance towards taxpayer services and fostering innovation.

2 Feb 2024, 01:52:21 PM IST

Budget 2024 Live: Paving way for long-term impact and innovation, says Shubham Jhuria, CFO & Partner at Aeravti Ventures

Shubham Jhuria, CFO & Partner at Aeravti Ventures, provides insights into the recently unveiled Interim Budget, highlighting key initiatives with profound long-term implications. The government's strategic move towards promoting DeepTech growth in the Defence sector is poised to unlock opportunities, breaking the traditional barriers that safeguarded this industry. Simultaneously, it is anticipated to foster India-centric innovations.

Jhuria emphasizes the significance of the government's focus on Research and Development (R&D), particularly through the provision of interest-free loans. This move is expected to bridge the gap between theoretical concepts in laboratories and their real-world applications, fostering a conducive environment for innovation.

2 Feb 2024, 01:50:15 PM IST

Budget 2024 Live: Abdul Hameed, Finance Area Chair at Alliance University, Highlights Emphasis on Empowerment and Fiscal Responsibility

Abdul Hameed, Finance Area Chair at Alliance University, delves into the nuances of the recently unveiled Interim Budget for 2024. The budget, he note