Hard Copies of Budget arrive at Parliament

Defence Minister Rajnath Singh arrives at Parliament complex for the interim Budget

Union Cabinet meets in Parliament, ahead of the presentation of the interim Budget

"They (BJP government) cannot make any policy announcement in this budget. It (interim budget) is a routine thing, and only after the new government takes charge, they will present a fresh budget," says DMK leader TKS Elangovan.

Ahead of the presentation of the Union Interim Budget, Congress MP Manickam Tagore says, "...Hope that Nirmala Sitharaman delivers on the promises which they admitted. Instead of diverting from the real issues, let them address unemployment, the farmers' pain, MSME sector's problems and the price rise. We hope that the Interim Budget addresses these important issues, instead of only helping the friends like Adani and other business houses on whose pillars the Modi government is running."

Union Minister of Finance and Corporate Affairs Nirmala Sitharaman along with Ministers of State Dr Bhagwat Kishanrao Karad and Pankaj Chaudhary and senior officials of the Ministry of Finance called on President Droupadi Murmu at Rashtrapati Bhavan before presenting the Union Budget

Nation is 30 minutes away from the Interim Budget 2024-25

Union Cabinet meeting ends; Budget accepted by Cabinet 

Ahead of NDA govt's interim Budget, Union minister Anupriya Patel says, "I hope the provisions of this budget will be to fulfil the aims of becoming Viksit Bharat and a 5 trillion dollar economy."

Congress Parliamentary Party Chairperson Sonia Gandhi arrives at the Parliament.

Union Minister Nirmala Sitharaman presents the Union Interim Budget 2024-25 at the Parliament.

"...Our young country has high aspirations, pride in its present and hope and confidence for a bright future. We expect that our govt based on its stupendous work will be blessed again by the people with a resounding mandate."

Indian economy has witnessed profound transformation in last 10 years In 2014, the country was facing enormous challenges, the government overcame those challenges and undertook structural reforms, pro people reforms were undertaken, conditions for jobs and entrepreneurship were set in, fruits of development started reaching people at scale, country got a sense of new purpose and hope: FM

In second term, the government strengthened its mantra and our development philosophy covered all elements of inclusivity, namely social and geographical With a whole of nation approach, the country overcame challenges of the COVID-19 pandemic, took long strides towards Aatma Nirbhar Bharat and laid solid foundations for Amrit Kaal: FM Sitharaman

"When we assumed office in 2014, the country was facing enormous challenges. With 'Sabka Sath Sabka Vikas' as its mantra, the government overcame those challenges," says Union Finance Minister

"We need to focus on - Garib, Mahilayen, Yuva and Annadata; Their needs and aspirations are our highest priorities," says Finance Minister Nirmala Sitharaman in her interim Budget speech.

"Minimum Support Prices for the produce of annadata are periodically increased appropriately and the provision of basic necessities have enhanced real income in the rural areas," says Nirmala Sitharaman.

"Social justice: Our government is working with an approach to development that is all-round, all pervasive and all inclusive," says Finance Minister Nirmala Sitharaman.

The earlier approach of tackling poverty resulted in very modest outcomes When the poor became empowered partners in development process, government's power to assist them increases manifold In the last 10 years, the government has assisted 25 crore people to get freedom from multidimensional poverty: FM

'Direct Benefit Transfer of Rs. 34 lakh crore using PM Jan Dhan accounts has led to huge savings for the government This has been realized through avoidance of leakages, savings have helped in providing more funds for welfare of the poor'

We need to focus on the poor, women, youth and farmers / Anna Data Their needs and aspirations and welfare are our highest priority All four require and receive government support, their empowerment and well being will drive the country forward, says Finance Minister

"PM Vishwakarma Yojana provides end-to-end support to artisans and crafts people engaged in 18 trades. The schemes for empowerment of divyangs and transgender persons reflect firm resolve of our our government to leave no one behind. Every year, under PM Kisan Samman Yojana, direct financial assistance is provided to 11.8 crore farmers, including marginal and small farmers," says Union Finance Minister

On 'Nari Shakti, FM Sitharaman says, "Female enrolment in higher education up by 28% in 10 years, in STEM courses, girls & women make 43% of enrolment, one of the highest in the world. All these steps are reflected in the increasing participation of women in the workforce. Making triple talaq illegal, reservation of 1/3 seats for women in Parliament and state assemblies, over 70 % houses under PM Awas Yojana to women have increased their dignity."

Nirmala Sitharaman says, "The Skill India Mission has trained 1.4 crore youth, upskilled and re-skilled 54 lakh youth, and established 3000 new ITIs. A large number of institutional higher learning, namely 7 IITs, 16 IIITs, 7 IIMs, 15 AIIMS and 390 Universities have been set up."

PM SVANIDHI has provided credit assistance to 78 lakh street vendors, from that total, 2.3 lakh have received credit for the third time PM JANMAN Yojana reaches out Particularly Vulnerable Tribal Groups PM Vishakarma Yojana provides end to end support to artisans and craftspeople Scheme for empowerment of Divyang and transgender people reflects our resolve to leave no one behind: FM

There is transparency and assurance that benefits are received to all eligible people, all regardless of their social standing get access to opportunities We are addressing systemic inequalities which have plagued our society, our focus is on outcomes and not on outlays so that socioeconomic transformation is achieved: Sitharaman in her Budget speech

Sitharaman says, "The government is equally focused on GDP - Governance, Development and Performance."

Nirmala Sitharaman says, "The country is proud of our youth scaling new heights in sports. The highest-ever medal tally in Asian Games and Asian Para games in 2023 reflects a high confidence level. Chess prodigy and our no.1 ranked player Praggnanandhaa up a stiff fight against the reigning world champion Magnus Carlsen in 2023. Today, India has over 80 Chess Grandmasters compared to a little over 20 in 2010."

Saturation approach of covering all eligible people is the true and comprehensive achievement of social justice, this is secularism in action, reduces corruption, prevents nepotism. Our government is working towards development which is all round, all inclusive and all pervasive. It covers all castes and people at all levels. We are working towards making India a Viksit Bharat by 2047: FM

Union Finance Minister Nirmala Sitharaman says, "Despite the challenges due to COVID, implementation of PM Awas Yojana Rural continued and we are close to achieving the target of 3 crore houses. 2 crore more houses will be taken up in the next 5 years to meet the requirement arising from increase in the number of families."

"The health cover under the Ayushman Bharat scheme will be extended to all ASHA and Anganwadi workers and helpers."

The next five years will be the years of unprecedented development, says FM Nirmala Sitharaman

Nirmala Sitharaman lists out 'strategy for Amrit Kaal'.

"Our government will adopt economic policies that foster and sustain growth, facilitate inclusive and sustainable development, improve productivity, create opportunities for all, help them enhance their capabilities and contribute to generation of resources to power investments and fulfuill aspirations..."

PM Mudra Yojana has sanctioned 43 crore loans amounting to Rs. 22.5 lakh crore for entrepreneurial aspirations of our youth. Fund of Funds, Startup India and Startup Credit Guarantee Schemes are assisting our youth: FM

Every year under PM Kisan Samman Yojana, Direct financial assistance is provided to 11.8 crore farmers, including marginal and small farmers. Crop insurance is given to 4 crore farmers under PM Fasal Bima Yojana. These are assisting farmers in producing food for the country and for the world, says Nirmala in her speech

"A new scheme will be launched for strengthening deep-tech technologies for defence purposes and expediting self-reliance, says FM Sitharaman.

Union Finance Minister Nirmala Sitharaman says, "Our government plans to set up more medical colleges by utilising the existing hospital infrastructure under various departments. A committee for this purpose will be set up to examine the issues and make relevant recomendations."

For the youth, FM Sitharaman says, "For our tech-savvy youth, this will be a golden era. A corpus of Rs 1 lakh crore will be established with 50-year interest-free loan provided. It will be for long-term financing or re-financing with low or nil interest rates."

The outlay for infrastructure has been increased to Rs 11.11 lakh crores in FY25, says FM Sitharaman.

"Goods and Services Tax (GST) has enabled one nation, one market, one tax. Tax reforms have led to deepening and widening of tax base. Strengthening of the financial sector has helped in making savings, credit and investments more efficient," says Union Finance Minister

"India as a G20 host showed forward way and built consensus for solutions for problems being faced by the world:" FM

Sitharaman says, "Many growth and development-enabling reforms are needed in the state for realising the vision of Viksit Bharat. A provision of Rs 75,000 crores as a 50-year interest-free loan is proposed this year to support those milestone-linked reforms by the state governments."

"To address fervour for domestic tourism, projects for port connectivity, tourism infra & amenities will be taken on our islands including Lakshadweep," says FM

"Railways: Three major Railway economic corridors programmes will be implemented. These are energy, mineral and cement corridor; port connectivity corridors and high traffic density corridors. The projects have been identified under the PM Gati Shakti for enabling multi-modal connectivity. They will improve logistics efficiency and reduce cost," says Finance Minister Nirmala Sitharaman.

Every year under PM Kisan Samman Yojana, Direct financial assistance is provided to 11.8 crore farmers, including marginal and small farmers Crop insurance is given to 4 crore farmers under PM Fasal Bima Yojana These are assisting farmers in producing food for the country and for the world: Finance Minister

Union Finance Minister Nirmala Sitharaman says, "In the full budget in July, our Government will present a detailed roadmap for our pursuit of Viksit Bharat."

"FDI is 'First Develop India'... FDI inflow during 2014 to 2023 was Rs 596 billion US dollars, marking a golden era. This was twice the FDI inflow between 2005 to 2014. For sustained FDI, we are negotiating bilateral investment treaties with foreign partners," adds Nirmala

Lakhpati Didi: "83 lakh SHGs with nine crore women are transforming rural socio-economic landscape with empowerment and self-reliance. Their success has assisted nearly 1 crore women to become lakhpati didi already. Buoyed by the success, it has been decided to enhance the target of lakhpati didi from 2 crore to 3 crore," says Union Finance Minister

'Empowerment of Women through entrepreneurship, ease of living and dignity has gained momentum in last 10 years 30 crore MUDRA Yojana loans have been given to woman entrepreneurs Female enrollment in higher education has gone up by 28% in 10 years In STEM courses, girls and women constitute 43% of enrollment, one of the highest in the world'

"To address fervour for domestic tourism, projects for port connectivity, tourism infra & amenities will be taken on our islands including Lakshadweep," says FM Sitharaman

Finance Minister Nirmala Sitharaman says, "...The revised estimate of the fiscal deficit is 5.8% of GDP, improving on the budget estimate notwithstanding moderation in the nominal growth estimates."

Maternal and child health care Various schemes under maternal and child health care to be brought under one comprehensive programme for synergy in implementation Upgradation of Anganwadi centres under Saksham Anganwadi and Poshan 2.0 will be expedited for improved nutrition delivery, early childhood care and development Newly designed U-Win platform for managing immunization and intensified efforts of Mission Indradhanush will be rolled out: FM

Pradhan Mantri Kisan Sampada Yojana has benefited 38 lakh farmers and generated 10 lakh jobs PM Formalization of Micro Food Processing Enterprises Yojana has assisted 2.4 lakh SHGs and 60,000 individuals with credit linkages Other schemes are helping reduce post harvest losses and improving productivity and incomes: Finance Minister

"I propose to retain the same tax rates for direct and indirect taxes including import duties," says FM.

"The fiscal deficit in 2024-25 is estimated to be 5.1% of GDP," says Union Finance Minister Nirmala Sitharaman.

After concluding the interim Budget speech, Finance Minister Nirmala Sitharaman introduces the Finance Bill 2024 in Lok Sabha

Lok Sabha passes Finance Bill 2024

House adjourned to meet again at 1100 hours on 2nd February