In her 2024-25 Union Budget speech, Finance Minister Nirmala Sitharaman announced a fiscal deficit estimate of 4.9% of GDP, an improvement from the 5.1% projected in the interim budget. The reduction aligns with market expectations and reflects the government's commitment to fiscal consolidation. Sitharaman aims to lower the deficit to 4.5% by 2025-26 and maintain a declining debt-to-GDP ratio beyond 2026-27. The budget includes expected borrowings of ₹14.01 lakh crore gross and ₹11.63 lakh crore net. Sitharaman, presenting her seventh consecutive budget, emphasized ongoing fiscal discipline.

Finance Minister Nirmala Sitharaman has announced changes to the new tax regime in the 2024 Union Budget. The standard deduction has been increased from ₹50,000 to ₹75,000. Revised tax slabs will also benefit salaried employees, with potential savings of up to ₹17,500. Additionally, the family pension deduction for pensioners has been raised from ₹15,000 to ₹25,000. These changes will benefit around four crore salaried individuals and pensioners. The old tax slabs remain unchanged. These updates aim to provide tax relief to eligible individuals, effective from the current financial year.

In Budget 2024, Finance Minister Nirmala Sitharaman announced significant investments for Bihar and Andhra Pradesh. Bihar will receive Rs 26,000 crore for road projects, airports, medical colleges, and sports facilities. A new 'Purvodaya' plan will enhance development in several eastern states. Andhra Pradesh will benefit from Rs 15,000 crore for the Pollavaram irrigation project and additional funds for capital development. Special financial support will be provided through multilateral agencies. These measures aim to foster economic growth and infrastructure development in these key states.

Bihar allocated Rs 26,000 crore for road projects in Union Budget 2024. Projects include Patna-Purnea expressway, Buxar-Bhagalpur highway, and additional two-lane bridge over Ganga in Buxar. Government to formulate "Purvodaya" plan for Bihar, Jharkhand, West Bengal, Odisha, and Andhra Pradesh's development. Industrial node at Gaya to be supported under Amritsar-Kolkata industrial corridor. Finance Minister Nirmala Sitharaman announced these initiatives to boost connectivity and infrastructure in Bihar, despite no special category status. These projects aim to catalyze development in the eastern region.

Finance Minister Nirmala Sitharaman announced a new scheme in the 2024 budget, providing one month's salary as a Provident Fund contribution for all new employees entering the workforce. This initiative aims to benefit 210 lakh youths across various sectors. The move comes in response to dissatisfaction over job opportunities, which affected the BJP's performance in the recent general elections. The scheme is part of the government's efforts to address employment challenges and support young job seekers.

Finance Minister Nirmala Sitharaman presents her seventh Budget, with middle-class Indians eagerly awaiting tax relief. Despite 8.2% economic growth, private consumption lagged at 4%. To boost spending, the government may cut personal income tax for high-propensity spenders, benefiting individuals earning ₹5-15 lakh annually, who currently face 5-20% tax rates. This move could stimulate consumer spending, a key driver of India's GDP. The budget is expected to address this slowdown, with tax reforms aimed at putting more money in people's pockets to revive consumption and drive economic growth.

Finance Minister Nirmala Sitharaman met President Droupadi Murmu ahead of presenting the Union Budget 2024, briefing her on the budget's provisions. As per tradition, President Murmu offered Sitharaman "curd and sugar" for good luck. The Union Cabinet, led by PM Narendra Modi, also met to approve the budget. Sitharaman is set to present her 7th consecutive budget at 11 am, marking a significant event in the Modi 3.0 government. This meeting marks a customary tradition before the budget presentation, ensuring the President's awareness and approval of the financial plans.

The Karnataka Cabinet has approved the Greater Bengaluru Governance Bill, 2024, aimed at revamping Bengaluru's civic administration. The bill proposes dividing the city into five zones under the Greater Bengaluru Authority (GBA), with a three-tier structure led by the Chief Minister. The GBA will have enhanced planning and financial powers. The move aims to improve governance in the Greater Bengaluru Area through a more structured and efficient system. The bill is set to be tabled in the state Assembly during the Monsoon Session starting Tuesday. Experts see this as a significant step towards addressing the city's governance challenges.

The Indian Army prevented an infiltration attempt in the Battal sector of Jammu and Kashmir in the early hours today. The incident occurred at 3 am, resulting in an exchange of fire that injured one soldier. This is the second terror-related incident in the Jammu region within 48 hours. The Army's XVI Corps, also known as the White Knight Corps, confirmed the incident and stated that operations are ongoing. The incident highlights the continued security threats in the region, with the Army remaining vigilant and taking prompt action to neutralize infiltration attempts.

Finance Minister Nirmala Sitharaman is set to present the Modi 3.0 government's first budget today. The budget is expected to focus on income tax relief, infrastructure development, job creation, and increasing farmers' income. Experts predict a balance between populist measures and fiscal discipline. The government aims to boost middle-class consumption while maintaining economic growth. Key areas of attention include tax reforms, infrastructure investment, and initiatives to support farmers and job creation. The budget will have significant implications for the economy and citizens' lives, shaping India's financial trajectory for the year ahead. Fiscal responsibility is expected to be a top priority.