Budget 2024

Congress' P Chidambaram took cognizance of the event and targeted the govt for taking so long to abolish the so-called tax. He said that the Congress had pleaded for the abolition of the angel tax and finally the Finance Minister announced it today. Ironically, it was Congress who had made changes in the Income Tax Act to introduce the Angel Tax.

The revised tax slabs is as follows - Rs 0-3 lakh – nil, Rs 3 - 7 lakh - 5%, Rs 7-10 lakh- 10% , Rs10-12 lakh - 15%, Rs 12-15 lakh - 20% Above Rs 15 lakh - 30%.

DK Suresh, who is the brother of Karnataka Deputy CM DK Shivakumar, said in response to the budget that the money collected through from Southern states are being used in Northern states.

Taking a jibe at the Congress-led UPA govt, the Finance Minister said that the Modi government is working with an approach to development that is "all round, all-pervasive and all-inclusive".

Finance Minister announced white paper on economy and committee to study poopulation explosion

The budget projects savings of up to Rs 15,000 to 18,000 annually for households from free solar electricity and selling the surplus to distribution companies.

Ms Sitharaman lauded the role of Self Help Groups (SHGs) who are positively impacting the lives of crores of women in the rural areas making 'Lakhpati Didi' scheme a success.

"Indian economy witnessed profound positive transformation in the last 10 years," said Sitharaman, while presenting Budget 2024 in the Parliament

The Indian economy under Prime Minister Narendra Modi has witnessed a profound transformation in the last 10 years when the government took several pro-people reforms that were structural, Union Finance Minister Nirmala Sitharaman said on Thursday, as she rose to present the interim Budget for 2024-25. 

The interim budget will take care of the financial needs of the intervening period until a government is formed after the Lok Sabha polls. A full budget will be presented by the new government.