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Finance Minister Nirmala Sitharaman on Tuesday announced nine priorities in the Union Budget 2024-25 for generating ample opportunities in the economy. The nine priorities include productivity, jobs, social justice, urban development, energy security, infrastructure, innovation and reforms.
The government on Tuesday announced a new centrally-sponsored scheme for skilling 20 lakh youth over the next five years. The announcement was made by Finance Minister Nirmala Sitharaman in the Union Budget 2024-25. The minister said that model skilling loan scheme will be revised to facilitate loans up to Rs 7.5 lakh.
"If she wins by using my name, it means I am a great man. At least my name has enough power to help her sail through," he said.
Former deputy chief minister Muzaffar Hussain Baig was among the 24 candidates in Baramulla constituency whose deposits were forfeited.
Eight out of 10 ministers under the Nayab Singh Saini government faced defeat in the Haryana assembly polls.
The government on Tuesday announced that it will undertake a comprehensive review of the Income Tax Act to make it easy to read. Presenting the Union Budget for 2024-25, Finance Minister Nirmala Sitharaman also said the government will come out with SoP (standard operating procedure) for TDS defaults and simplify and rationalise compounding of such offences.
Exit polls, which had given a clear majority to the Congress in Haryana and an edge to National Conference in Jammu and Kashmir, appear to have failed to feel the pulse of the voters once again.
However, the Bharatiya Janata Party which had emerged victorious on 29 seats have 28 Hindus and one Sikh member as none of its Muslim candidates, including two former ministers, managed to win.
The government will come out with a credit guarantee scheme for MSMEs to facilitate term loans without collateral or third party guarantee, Finance Minister Nirmala Sitharaman said on Tuesday. Presenting her seventh straight Union Budget, she also said that public sector banks to build in-house capability for credit assessment of MSMEs.
The BJP received 39.94 percent votes, while the Congress managed 39.09 percent in the assembly polls.
The results of assembly elections in the Kashmir Valley have culminated in a significant rejection of separatist candidates, including those from Engineer Rashid-led Awami Ittehad Party and Jamaat-e-Islami, who failed to make a meaningful impact in the polls.
Voters in Muslim-dominated Nuh in Haryana have made the Congress victorious in all three assembly seats in the district, with one of the contestants registering the highest victory margin.
Iltija said the PDP suffered defeat and could manage only three seats in the valley because there was an "assault" on the party.
Three women, including former minister Sakeena Masood (National Conference), won elections on Tuesday to enter the male-dominated assembly in Jammu and Kashmir.
Ahead of assembly polls, Shiv Sena-Uddhav Balasahev Thackeray president Uddhav Thackeray on Tuesday declared he will support any chief ministerial candidate announced by allies Congress or Nationalist Congress Party-Sharadchandra Pawar to 'save' Maharashtra, repeating a demand for the second time since August.
National Conference (NC) vice president Omar Abdullah Tuesday asserted that there should be no "fiddling" with the mandate of people in Jammu and Kashmir, and the Centre and the Raj Bhavan must not indulge in any "machinations".
The government on Tuesday announced certain incentives as part of efforts to boost maintenance, repair and overhaul activities in the country's aviation and shipping sectors. India is one of the fastest growing domestic aviation markets in the world.
Securing an impressive victory in Budgam and leading in Ganderbal -- the two seats that he contested -- the third-generation politician is set to become the next Jammu and Kashmir chief minister and carry on his family's legacy.
As the Bharatiya Janata Party looks set to retain Haryana, the Congress' poll campaign, which was built around various issues including unemployment, farmers' plight and Agnipath scheme, appeared to have failed to click with a majority of the voters.
Congress leaders were seen giving media bytes at various places at the headquarters, arguing that the trends would change by 1 PM but it did not happen.
The government will provide Rs 11.11 lakh crore for capital expenditure for 2024-25 and introduce viability gap funding to spur private investment in infrastructure, Finance Minister Nirmala Sitharaman said on Tuesday. Presenting the Union Budget for FY2024-25, she said that the government will endeavour to maintain strong fiscal support for infrastructure over the next five years, in conjunction with imperatives of other priorities and fiscal consolidation.
The Congress was fighting the elections in a pre-poll alliance with National Conference and had fielded 32 candidates, mostly in Jammu region, compared to 51 by the regional party.
Jannayak Janta Party, which had emerged as the kingmaker last assembly polls, was decimated this time round, while the Indian National Lok Dal also failed to create much impact, with prominent leaders of both outfits Dushyant Chautala and Abhay Singh Chautala losing their seats.
Once a trusted lieutenant of the former National Conference president Omar Abdullah and his political advisor during his tenure as chief minister, Rana holds considerable sway among Muslims, particularly the Gujjar community in Jammu.
Moody's Ratings on Tuesday projected general government debt to stabilise above 80 per cent of GDP over the next three years, down from 89.3 per cent in 2020-21. "General government interest payments to fall to around 24 per cent of general government revenue over the next two years from over 28 per cent in fiscal 2020-21, although this remains much higher than the median 8.7 per cent recorded by Baa-rated peers," Moody's Ratings associate managing director Gene Fang said in a post-Budget reaction.
The government on Tuesday proposed to launch a mission to give fillip to the domestic output of critical minerals like copper and lithium, their recycling as well as acquisition of such assets abroad. Presenting Union Budget for 2024-25, Finance Minister Nirmala Sitharaman also said the government will launch the auction of the first round of offshore mining blocks.
Months before the Haryana assembly polls, the Bharatiya Janata Party replaced its strongman Manohar Lal Khattar as chief minister with low-profile OBC leader Nayab Singh Saini, a decision that surprised many.
The BJP has emerged the second largest party by winning 29 constituencies in the maiden assembly polls post abrogation of Article 370 in Jammu and Kashmir, improving its all-time high tally of 25 seats recorded in 2014 elections.
The results for the Andhra Pradesh and Odisha assembly elections were declared on Tuesday.
A blame game began in the Congress on Tuesday as it failed in its bid to come back to power in Haryana after 10 years, with senior party leader Kumari Selja saying the party high command should assess all reasons that led to the disappointing result and identify the people responsible.
The Congress on Tuesday said it cannot accept the Haryana assembly polls verdict as there were 'serious issues' about the integrity of the counting process and functioning of the EVMs in some districts, and asserted that it would take up the matter with the Election Commission.
In sops for the middle class, Finance Minister Nirmala Sitharaman on Tuesday hiked standard deduction by 50 per cent to Rs 75,000 and tweaked tax slabs under the new income tax regime to provide more money in the hands of salaried class with a view to boost consumption. She said salaried employees in the new tax regime could save up to Rs 17,500 in income tax annually following the changes announced in the Budget. The standard deduction for salaried employees is proposed to be increased from Rs 50,000 to Rs 75,000 annually.
The government on Tuesday announced central assistance of Rs 2.2 lakh crore over the next five years to meet housing requirement of 1 crore urban poor and middle class families under the Pradhan Mantri Awas Yojana-Urban and proposed interest subsidy to provide loans at affordable rates. In her Budget speech, Finance Minister Nirmala Sitharaman said, "Under the PM Awas Yojana Urban 2.0, housing needs of 1 crore urban poor and middle-class families will be addressed with an investment of Rs 10 lakh crore." "This will include the central assistance of Rs 2.2 lakh crore in the next 5 years," she added.
The Haryana victory will be a morale booster for the Bharatiya Janata Party and increase its bargaining power in the Mahayuti's seat-sharing talks for the upcoming Maharashtra assembly elections, according to political analysts.
The income tax department on Wednesday issued FAQs on changes in the capital gains tax saying the idea behind it was to simplify the tax structure and promote ease of compliance. The holding period for various asset classes for the purpose of short- and long-term capital gains tax has been rationalised. The holding period of all listed assets will be now one year for the purpose of long-term capital gains tax (LTCG).
Finance Minister Nirmala Sitharaman on Tuesday announced the doubling of the upper limit of Mudra loans to Rs 20 lakh to promote entrepreneurship in the country. "The limit of Mudra loans will be enhanced to Rs 20 lakh from the current Rs 10 lakh for those entrepreneurs who have availed and successfully repaid previous loans under the 'Tarun category', she said while presenting the Budget in the Lok Sabha.
Union Finance Minister Nirmala Sitharaman on Tuesday announced that comprehensive development of Vishnupad Temple corridor at Gaya and Mahabodhi Temple at Bodh Gaya in Bihar will be supported by the government to transform them into world-class pilgrim and tourist destinations. These corridors will be modelled on the successful Kashi Vishwanath Temple Corridor, she said. Vishnupad Temple is one of the most ancient Hindu shrines located next to the Falgu river, while the Mahabodhi Temple is a UNESCO World Heritage Site.
As the results for the Lok Sabha elections 2024 were declared on Tuesday, here is how some of the big faces fared in the contest.
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