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New Delhi [India], July 21 (ANI): As the Union <keyword id="19956758" type="General" weightage="20" keywordseo="Finance-Minister" source="keywords">Finance Minister</keyword>, <keyword id="19916618" type="General" weightage="20" keywordseo="Nirmala-Sitharaman" source="keywords">Nirmala Sitharaman</keyword>, is set to present her seventh <keyword id="19908389" type="General" weightage="100" keywordseo="Union-Budget" source="keywords">Union Budget</keyword>, the <keyword id="21660910" type="General" weightage="20" keywordseo="Monsoon-Session" source="keywords">Monsoon Session</keyword> of Parliament will commence on July 22. With the presentation of this year's budget, Sitharaman will establish herself as the first Finance Minister to present seven consecutive budgets, breaking the record of Morarji Desai's six budget presentations. Desai, who was the country's Finance Minister from 1959 to 1964, presented a record six budgets for the country, of which five were full budgets and one was an interim budget. Like the previous few full Union Budgets, <keyword id="15478236" type="General" weightage="20" keywordseo="budget-2024" source="Orion">Budget 2024</keyword> will also be delivered in paperless form. An Interim Union Budget 2024 was presented on February 1, as the country was due for general elections. As part of the <keyword id="20321465" type="General" weightage="20" keywordseo="budget-preparation" source="keywords">budget preparation</keyword>, the Finance Ministry has completed several rounds of deliberations with different stakeholders of the economy. These meetings started on June 20, during which Sitharaman met representatives from trade unions, the education and health sectors, employment and skilling, MSMEs, trade and services, industry, economists, the financial sector and capital markets, as well as representatives from the infrastructure, energy, and urban sectors. During the meetings, economists discussed several critical issues, such as boosting capital expenditure and reducing the fiscal deficit. The group of economists suggested to the ministry that the focus should be on reducing the fiscal deficit in the upcoming budget, along with the need to generate employment growth. The industry body, the Confederation of Indian Industry (CII), suggested that the government increase capital expenditure in the upcoming budget. The economists also emphasised the need to enhance capital expenditure. Farmer associations urged the Finance Minister to enhance the budgetary allocation for the agriculture sector. Representatives from the skilling and employment sectors suggested ways to skill the youth for better utilization of the workforce. This year's Monsoon Session will have 19 sittings until August 12. The Modi government is expected to present six bills, among which the Aircraft Act and Parliament's nod for the budget of Jammu and Kashmir are prominent. The government will also present the Finance Bill after the announcement of the budget on July 23. Among the other bills, the disaster management law, the Bhartiya Vayuyan Vidheyak 2024, the Boilers Bill, the Coffee (Promotion and Development) Bill, and the Rubber (Promotion and Development) Bill will be tabled in this year's Monsoon Session. The Bhartiya Vayuyan Vidheyak 2024 will replace the Aircraft Act of 1934 and streamline regulations in the civil aviation sector, aiding industry players in the sector. The interim budget, tabled on February 1, addressed the financial needs of the intervening period until a government was formed after the Lok Sabha polls, after which a full budget was supposed to be presented by the new government in July. The Union Budget documents will be available on the "Union Budget Mobile App" for hassle-free access to budget documents by Members of Parliament (MPs) and the public. The app is bilingual (English and Hindi) and is available on both Android and iOS platforms. The app can also be downloaded from the Union Budget Web Portal (www.indiabudget.gov.in).

FM Sitharaman to present historic seventh consecutive Union Budget in paperless format

Union <keyword id="25455" type="General" weightage="50" keywordseo="finance" source="Orion">Finance</keyword> Minister <keyword id="129243" type="General" weightage="50" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword> will present the <keyword id="6360189" type="General" weightage="50" keywordseo="union-budget" source="Orion">Union Budget</keyword> for 2023-24 with a digital device instead of the traditional 'bahi-khata' in her hands. Wednesday's <keyword id="6358021" type="General" weightage="100" keywordseo="budget" source="Orion">Budget</keyword> will be <keyword id="679937" type="General" weightage="50" keywordseo="sitharaman" source="Orion">Sitharaman</keyword>'s fifth Budget presentation as Finance Minister. In 2019, the Union Budget was presented in a traditional 'bahi-khata' rather than a leather briefcase. It was the first time since independence that any Finance Minister had 'opted out' of a briefcase or a hardbound leather bag. The minister in 2019 not only garnered huge attention for carrying a 'bahi-khata', but also for implying the rich culture the country holds. A 'bahi-khata' holds prominence in Indian culture, tradition and history. For decades, the Indian way of managing accounts and keeping a record of bills was done in a 'bahi-khata'. Traders, merchants, sailors and even small shopkeepers have retained this way of preserving their data. However in 2021, due to the Covid-19 pandemic, the government had to take necessary steps to maintain the security and safety of everyone. The Finance Minister moved ahead with the first paperless Budget holding a digital tablet wrapped in a red-coloured cover with the national emblem emblazoned on it. The same year, the minister also launched the '<keyword id="10642681" type="General" weightage="50" keywordseo="union-budget-mobile-app" source="Orion">Union Budget Mobile App</keyword>' for hassle-free access of Budget documents by the parliamentarians and the general public. Following the same trend the next year, the Union Budget 2022 was also a paperless budget. On Wednesday, the Budget documents will be available on the 'Union Budget Mobile App' on both the <keyword id="6355645" type="General" weightage="50" keywordseo="android" source="Orion">Android</keyword> and Apple OS platforms after the completion of the Budget Speech by the Finance Minister. Like every year, the Finance Minister will first visit the North Block situated at Raisina Hill ahead of the Budget presentation on Wednesday. Following this, she will meet President Droupadi Murmu and will present the Union Budget 2023 at 11 AM in Parliament. Earlier on Tuesday, Sitharaman tabled the Economic Survey for the Financial Year 2022-23 in the <keyword id="6355187" type="General" weightage="50" keywordseo="lok-sabha" source="Orion">Lok Sabha</keyword>, stating that the economic recovery of India from the Covid-19 pandemic is complete and the economy is expected to grow in the range of 6 to 6.8 per cent in the coming financial year 2023-24. This is in comparison to the estimated 7 per cent this fiscal and 8.7 per cent in 2021-22. Budget 2023 is likely to be the last full Budget of the Modi government in its second term with the next Lok Sabha election due in April-May of 2024. A large section of people expect reduced taxes, loan rates, and reduced prices of essential commodities. The Budget Session of the Parliament began on Tuesday with President Droupadi Murmu's address to the joint session where she spoke about different topics during her maiden address after being elected to the topmost office of the country last year. Ahead of the Budget session of Parliament, Prime Minister <keyword id="6354477" type="General" weightage="50" keywordseo="narendra-modi" source="Orion">Narendra Modi</keyword> on Tuesday said, "India's Budget will attempt to meet the hopes and aspirations of the common citizens amid the unstable global economic situation." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/nirmala-sitharaman-arrives-at-north-block-ahead-of-union-budget-2023-today/articleshow/97510053.cms">Nirmala Sitharaman arrives at North Block ahead of Union Budget 2023 today</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/adani-enterprises-britannia-reliance-industries-among-stocks-in-focus/articleshow/97510050.cms">Sensex, Nifty50 likely to open higher ahead of Union Budget 2023: Adani Enterprises, Britannia, Reliance Industries among stocks in focus</a>

FM Sitharaman to present Budget on digital device instead of 'bahi-khata'

<ul><li>Lok Sabha is soon going digital by adopting paperless policy from the next session. </li><li>Members of Parliaments will now use digital documents to write down questions. </li><li>Last year, the Ministry of Parliamentary Affairs introduced <keyword id="3860217" type="PERSON" weightage="20" keywordseo="neva">NeVA</keyword> (National eVidhan Application), a project worth ₹739 crore, to bring the legislature system on a digital platform.</li></ul>Lok Sabha is all set to go digital by going paperless from the next session. Lok Sabha Speaker Om Birla plans to cut down costs with this move, he <a href="https://economictimes.indiatimes.com/news/politics-and-nation/lok-sabha-to-become-paperless-from-next-session-speaker/articleshow/70472281.cms?from=mdr">said</a> on Wednesday. "This policy will be adopted when we will meet for the next session of Parliament after two or two-and-a-half months. Our aim is to save maximum money of Parliament," reported news agency IANS citing Om Birla. After the move, the Members of Parliaments will use digital documents to write down questions. <a href="https://www.worldatlas.com/articles/how-many-trees-does-it-take-to-make-1-ton-of-paper.html">And every unused tonne will save 24 trees</a> Cost of paper The Parliament and the state assemblies<a href="http://164.100.47.194/loksabha/FAQ.aspx"> use papers to raise questions and table bills.</a> Different colours are used to print different types of questions. Last year, the Government<a href="http://164.100.47.194/loksabha/FAQ.aspx"> said that both the houses </a>and 31 state legislatures will go paperless. There are more than 5000 thousands members in the legislature system in <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>. And these, members raise over 200,000 questions, and t<a href="http://164.100.47.194/loksabha/FAQ.aspx">ons of paper is used </a>to print them. Both Parliament and state assemblies submit over 500 committee reports, over 1,700 Bills and 25,000 notices every year. Hence<a href="http://164.100.47.194/loksabha/FAQ.aspx">, Parliament has to incur a </a>considerable amount of cost to support its paperwork. Last year, the Ministry of Parliamentary Affairs<a href="http://164.100.47.194/loksabha/FAQ.aspx"> introduced </a>NeVA (National eVidhan Application), a project worth ₹739 crore, to bring the legislature system on a digital platform. See also: <a href="https://www.businessinsider.in/iiit-bangalore-vit-vellore-manipal-university-and-others-saved-nearly-20-million-sheets-of-paper-with-paperless-exams/articleshow/70428104.cms">Paperless exams at 6 institutes saved 20 million sheets of paper, and can save more</a>

India's Parliament is going paperless and every unused tonne will save 24 trees

<keyword id="6358777" type="LOCATION" weightage="20" keywordseo="New-Delhi">New Delhi</keyword>, Prime Minister Narendra Modi will lay the <keyword id="6541422" type="UNKNOWN" weightage="20" keywordseo="Foundation-stone">foundation stone</keyword> for a <keyword id="7970095" type="UNKNOWN" weightage="20" keywordseo="new-parliament-building">new Parliament building</keyword> on December 10, Lok Sabha Speaker Om Birla said on Saturday. The new building will have an area of 64,500 square metres and is being built at an estimated cost of ₹971 crore, he said. "The existing temple of democracy is completing 100 years... It is a matter of pride for our countrymen that the new one will be built by our own people as a prime example of Aatmanirbhar Bharat," Birla said here announcing details of the new proposed building. "The new building will showcase the cultural diversity of the country. Hopefully, in the 75th year of independence, Parliament session will be held in the new building," he said. Birla said the new building will be earthquake resistant and 2000 people will be directly involved in the construction of the new building and 9,000 indirectly. He said as many as 1,224 MPs can sit together in the building, while a new office complex for all MPs of both the houses would be built at the site of the existing Shram Shakti Bhawan. The existing Parliament building will be conserved as it is an archaeological asset of the country, Birla said. He said the invitation will be extended to all political parties. While some would attend physically and others would attend virtually, Birla said, while adding that the ceremony would follow Covid-related guidelines. A formal invitation to Modi was extended by Lok Sabha Speaker Om Birla on Saturday. As per rules, the speaker of the lower house of parliament is also the custodian of the parliament building. Sufficient steps have been taken to control air and noise pollution during the construction work for the new parliament building, which will have separate offices for all MPs and those will be equipped with the latest digital interfaces as a step towards creating 'paperless offices'. The new building will also have a grand Constitution Hall to showcase India's democratic heritage, a lounge for members of Parliament, a library, multiple committee rooms, dining areas and ample parking space. In the new building, <keyword id="1806095" type="COMPANY" weightage="20" keywordseo="the-Lok-Sabha">the Lok Sabha</keyword> chamber will have a seating capacity for 888 members, while Rajya Sabha will have 384 seats for the upper house members. This has been done keeping in mind the future increase in the number of members for the two houses. At present, Lok Sabha has a sanctioned strength of 543 members and Rajya Sabha of 245. In September this year, Tata Projects Limited won the bid to construct the new parliament building at a cost of Rs 861.90 crore. The new building will be constructed close to the existing one under the Central Vista redevelopment project. The existing Parliament House building will be suitably retro-fitted to provide more functional spaces for parliamentary events, to ensure its usage along with the new building. The existing building is a massive circular edifice of 560 feet in diameter. The Parliament House Estate is enclosed by an ornamental red sandstone wall or iron grills with iron gates that can be closed when occasions demand. The building has twelve gates. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-ril-airtel-indigo-spicejet-sbi-bank-of-baroda-vodafone-idea-granules-india-and-others/articleshow/79557810.cms">Top stocks to watch — RIL, Airtel, IndiGo, SpiceJet, SBI, Bank of Baroda, Vodafone-Idea, Granules India, and others</a> <a href="https://www.businessinsider.in/business/corporates/news/ultratech-cements-5477-crore-expansion-plan-is-a-sign-that-birla-is-betting-on-a-faster-economic-recovery/articleshow/79549626.cms">UltraTech Cement's ₹5,477 crore expansion plan is a sign that Birla is betting on a faster economic recovery</a> <a href="https://www.businessinsider.in/tech/news/sbis-mobile-banking-app-is-down-for-the-third-time-in-last-30-days/articleshow/79548953.cms">SBI’s mobile banking app is down for the third time in 30 days — digital services take a hit for the 25th time this year</a>

PM Modi to lay foundation stone for new Parliament Building on December 10

The I-T department has developed a mobile app for paying taxes and tracking refunds and is considering issuing PANs on real time basis using Aadhaar biometric. 
 "Income Tax department is considering issuing of Permanent Account Number (PAN) on a real time basis using Aadhaar's e-KYC facility. The proposal is at an initial stage of consideration," Minister of State for <keyword id="25455" type="ORGANIZATION" weightage="20" keywordseo="finance">Finance</keyword> <keyword id="258592" type="PERSON" weightage="20" keywordseo="Santosh-Kumar-Gangwar">Santosh Kumar Gangwar</keyword> said in a written reply to the <keyword id="6355187" type="ORGANIZATION" weightage="20" keywordseo="Lok-Sabha">Lok Sabha</keyword> today. 
 
Besides, he said a mobile app "for paying taxes online has been developed. The mobile application has the functionality to pay taxes and track refunds". 
 
<a href="http://www.businessinsider.in/bloomsbury-unviels-the-harry-potter-and-the-prisoner-of-azkaban-illustrated-edition/articleshow/57539590.cms">ALSO READ: Bloomsbury unveils the Harry Potter and the Prisoner of Azkaban Illustrated Edition</a> 
 He said the PAN allotment system of the I-T department is integrated with the <keyword id="6376435" type="ORGANIZATION" weightage="20" keywordseo="Ministry-of-corporate-affairs">Ministry of Corporate Affairs</keyword>' portal for allotment at the time of incorporation of a company. 
 "A turn-around-time of 4 hours is prescribed for allotment of PAN after receipt of PAN application from <keyword id="6355225" type="COMPANY" weightage="20" keywordseo="MCA">MCA</keyword> portal to PAN service provider <keyword id="77072" type="ORGANIZATION" weightage="20" keywordseo="NSDL">NSDL</keyword> eGov portal," he said. 
 
<a href="http://www.businessinsider.in/heres-a-first-of-its-kind-startup-auctioning-a-weekend-yoga-retreat-with-shilpa-shetty/articleshow/57578049.cms">ALSO READ: Here's a first-of-its-kind startup auctioning 'A Weekend Yoga Retreat with Shilpa Shetty'</a> 
 Besides, the tax department has started online PAN application facility using digital signature certification or Aadhaar based e-signature. "Also, online paperless PAN application facility using Aadhaar based e-KYC and e-signature is available through the websites of PAN services providers NSDL eGov and UTIITSL. In this facility, Aadhaar data is used for allotment of PAN and there is no need to upload scanned copies of any document," <keyword id="388942" type="PERSON" weightage="20" keywordseo="gangwar">Gangwar</keyword> said. 
 
The aadhaar-based e-KYC facility would allow individuals or entities wanting to apply for PAN to verify details such as date of birth or address by way of biometric identification using thumb impressions. 
 
<a href="http://www.businessinsider.in/hyperloop-one-asks-indians-to-identify-the-first-busy-route-where-it-can-bring-ultra-fast-transportation-system/articleshow/57551789.cms">ALSO READ: Hyperloop One asks Indians to identify the first busy route where it can bring ultra-fast transportation system</a> 
 
So far, more than 111 crore Aadhar numbers have been issued. The unique identification number is being used for getting a new SIM card, for opening bank accounts, transfer of subsidies and also for biometric-based digital payments under Aadhaar Enabled Payment System. 
 
As per the government estimate, every year 2.5 crore people across the country apply for PAN cards. 
 
There are more than 25 crore PAN card holders in the country.

Tax dept app to track refunds; plans issuing PAN in real time

New Delhi [India], July 23 (ANI): <keyword id="19956758" type="General" weightage="20" keywordseo="Finance-Minister" source="keywords">Finance Minister</keyword> <keyword id="19916618" type="General" weightage="20" keywordseo="Nirmala-Sitharaman" source="keywords">Nirmala Sitharaman</keyword> is set to present the <keyword id="15626720" type="General" weightage="20" keywordseo="Union-Budget-2024" source="Orion">Union Budget 2024</keyword> in Parliament today, marking her seventh consecutive budget and eclipsing the late Moraji Desai's record of six consecutive budgets, which is likely to focus on changes in the income tax structure and improving the ease of doing business in India. At 11 am today, the much-awaited full budget for 2024-25, the first under the Modi 3.0 government, will be presented on the floor of the Parliament. All eyes will be on the major announcements made by the finance minister and the government's forward-looking guidance about the overall economy. Sitharaman will lay on the table a statement (in English and Hindi) of the estimated receipts and expenditures of the government for the year 2024-25 in the Rajya Sabha. <div type="Article" hostid="261" msid="111946291" title="Union Budget 2024-25: Focus on employment, skilling, MSME and middle class" mstype="2" mssubtype="0"></div>She will table the budget one hour after the conclusion of the presentation of the <keyword id="19908389" type="General" weightage="20" keywordseo="Union-Budget" source="keywords">Union Budget</keyword> 2024-25 in the Lok Sabha. The Finance Minister also lay on the table, under subsection (1) of Section 3 of the Fiscal Responsibility and Budget Management Act, 2003, a copy each (in English and Hindi) of the following papers: medium-term fiscal policy strategy statement and macro-economic framework statement. The Finance Minister will further lay on the table statements (in English and Hindi) of the estimated receipts and expenditures (2024-25) of the Union Territory of Jammu and Kashmir (with the legislature). The interim budget, tabled on February 1, took care of the financial needs of the intervening period until a government was formed after the Lok Sabha polls, after which a full budget was to be presented by the new government. With this upcoming budget presentation, Finance Minister Nirmala Sitharaman will surpass the record set by former Prime Minister Morarji Desai, who presented five annual budgets and one interim budget between 1959 and 1964 as finance minister. The <keyword id="105431" type="General" weightage="20" keywordseo="budget-session" source="Orion">budget session</keyword> of Parliament began on July 22 and, according to schedule, will end on August 12. Before presenting the Budget, the finance minister will go to the North Block, where the Ministry of Finance is housed. She will meet the secretaries of her ministry, and later, along with them, she will reach the President's residence to get permission before presenting the Budget. About half an hour before the budget is presented, a Cabinet meeting headed by the prime minister is usually held, where ministers are briefed about the budget and Cabinet approval is taken. Putting aside the details of the upcoming budget, let us review the budget-making process and sequence of events typically followed. The Ministry of Finance typically issues circulars to all ministries, Union territories, States, and autonomous entities to send their demands and recommendations for the Union budget around September-October, with budgets typically tabled on February 1. Another key event before the budget presentation is the 'halwa ceremony'. A few days before the budget is presented, the government has a tradition of conducting a 'halwa ceremony', marking the start of budget document printing. The Halwa ceremony is significant as it also marks the beginning of a lockdown at the finance ministry, meaning no official is allowed to leave the ministry compound. Everyone on the budget team is allowed to leave only after the financial document is presented in Parliament. The printing of the Union Budget inside the basement located in the North Block has been a permanent feature since 1980. A day before the budget is scheduled to be tabled, the government typically releases its Economic Survey. This year, too, the same norms were followed. The Economic Survey serves as a crucial input for budget formulation. It is prepared by the Chief Economic Advisor and provides an overview of the country's economic performance, prospects, and policy recommendations, including future outlook. India is poised to remain the fastest-growing major economy in 2024-25, Chief Economic Adviser V Anantha Nageswaran said in a press conference after the tabling of the Economic Survey. The Economic Survey tabled projected India to grow at 6.5-7.0 percent in 2024-25. As per the Economic Survey 2023-24 tabled by Finance Minister Nirmala Sitharaman, the Indian economy is on a strong and stable footing, demonstrating resilience in the face of geopolitical challenges. The first Economic Survey reportedly came into existence in 1950-51, when it used to be a part of the budget documents. In the 1960s, it was separated from the budget documents and presented a day before the Union Budget. The budget, once it is presented, is then subjected to detailed debate and discussion in both houses of Parliament, allowing members to scrutinise its provisions, raise concerns, and propose amendments. Following its presentation and approval by Parliament, the Union Budget sets in motion a series of post-budget activities aimed at implementing its provisions and achieving the outlined objectives. Like the previous few full Union budgets, the Budget 2024 will also be delivered in paperless form. An Interim Union Budget 2024 was presented on February 1, as the country was due for general elections later in the year. All the Union Budget documents, including the Annual Financial Statement (commonly known as the Budget), Demand for Grants (DG), and Finance Bill, as prescribed by the Constitution, will be available on the "Union Budget Mobile App" for hassle-free access to budget documents by Members of Parliament (MPs) and the public. The app is bilingual (English and Hindi) and available on both Android and iOS platforms. The app can also be downloaded from the Union Budget Web Portal (www.indiabudget.gov.in). SEE ALSO: <a href="https://www.businessinsider.in/budget/news/union-budget-2024-live-updates-finance-minister-nirmala-sitharaman-key-announcements-23-july/liveblog/111942008.cms" data-type="tilCustomLink" target="_blank">Union Budget 2024 Live Updates: PM Modi arrives in Parliament ahead of Budget 2024 presentation</a> <a href="https://www.businessinsider.in/budget/news/why-did-the-latest-economic-survey-of-india-heavily-shun-the-western-ways-of-climate-action/articleshow/111947230.cms" data-type="tilCustomLink" target="_blank">Why did the latest Economic Survey of India heavily shun the ‘Western ways’ of climate action?</a>

Here's a quick overview of PM Modi 3.0 government's first budget, to be presented by FM Nirmala Sitharaman today

<ul><li>Integrated platform to be set up under insolvency and bankruptcy board to benefit stakeholders</li><li>IBC has recovered Rs 3.3. lakh crore for creditors, 28 cases worth Rs 10 lakh crore also dismissed </li><li>Additional tribunals will be notified</li></ul><keyword id="19912360" type="General" weightage="20" keywordseo="Finance-Minister-Nirmala-Sitharaman" source="keywords">Finance Minister Nirmala Sitharaman</keyword> is set to present the Union <keyword id="15478236" type="General" weightage="20" keywordseo="budget-2024" source="Orion">Budget 2024</keyword> in the parliament at 11 am today and has arrived at the parliament with the paperless Bahi-Khata, a practice first followed by the minister while presenting the <keyword id="6360189" type="General" weightage="20" keywordseo="union-budget" source="Orion">Union budget</keyword> for 2021-22. This will be the seventh time FM Sitharaman will be presenting the <keyword id="6358021" type="General" weightage="20" keywordseo="budget" source="Orion">budget</keyword>, inching past the record of former <keyword id="19956758" type="General" weightage="20" keywordseo="Finance-Minister" source="keywords" meta.keywordsubtype="org" meta.entityname="Finance Minister" meta.hostid="261" meta.entityid="Finance Minister">finance minister</keyword> Morarji Desai, who had 5 full-fledged and 1 interim budget presentation to his credit. President <keyword id="20109163" type="General" weightage="20" keywordseo="draupadi-murmu" source="keywords">Draupadi Murmu</keyword> had described this budget as historic, in terms of the reforms and announcements it will lay forth. Earlier in the day, the FM had met the president with a copy of the budget. The budget will set forth the tone for Modi's third tenure, and will be an important cornerstone for his vision for India's Amritkal, leading India towards becoming a developed nation, or Viksit Bharat. Sitharaman will begin her budget speech at 11 am in the Lok Sabha. You can watch the presentation live on the official Youtube channels of the government. After her speech, all budget-related documents will be available at indiabudget.gov.in <h2>FM Sitharaman tables <keyword id="20387181" type="General" weightage="20" keywordseo="Union-Budget-2024-25" source="keywords">Union Budget 2024-25</keyword></h2>FM Sitharaman, "India's inflation continues to be low, stable, moving towards 4% target. We need to focus on Gareeb, Mahila, Yuva and Annadata (Poor, Women, Youth and Farmers). Budget to focus on employment, skilling, MSME and middle class. Allocations of Rs 1.48 lakh crore have been made for education and skilling in this budget". Productivity and Resilience in Agriculture <ul><li>Aim to develop climate resilient crop varieties. Over next 2 years, 1 crore farmers will be initiated into natural farming through structural support. 10,000 need based bio-resource centers will be established. </li><li>Financing for shrimp farming, processing and export will be facilitated through NABARD </li><li>Rs 1.25 lakh crore set aside for agriculture and allied activities. </li></ul> Employment and Skilling <ul><li>Scheme A: One month wage to all those entering the formal workforce across all sectors. The scheme is expected to benefit 210 lakh youngsters</li><li>Job creation in manufacturing: Incentives given to both employee and employer in the first 4 years of the employment, basis their EPFO contribution.</li><li>Support to employers: The govt. will reimburse Rs 3,000 per month for 2 years for each additional employee hired by employer. The scheme is expected to benefit 50 lakh people</li><li>Establish working women hostels and creches to facilitate women participation in workforce</li></ul>Infrastructure Development <ul><li>Bihar and Andhra Pradesh to receive additional monetary support in the current financial year. Development of new airports, roadways and sports infrastructure to be undertaken in Bihar.</li><li>Grants for backward regions in Andhra Pradesh will be provided</li><li>3 crore additional houses in rural and urban India have been made under PM Aawas Yojana.</li><li>Women led development schemes have received an allocation of over Rs 3 lakh crore.</li><li>Credit support to MSMEs during stress periods</li><li>SIDBI to open new branches in MSME clusters within 3 years and offer direct credit to them. 24 new branches to be opened this year, covering 168 MSME clusters</li><li>To enable MSMEs and artisans to sell products in international markets, hubs to be set up under public-private partnership model. </li><li>Encourage moderation of stamp duties, also consider lowering duties for properties purchased by women.</li><li>Infra investment in economy to stand at 3.4% of GDP</li></ul>Tourism <ul><li>Development of Vishnu Path, Mahabodhi temple corridor</li><li>Support development of Nalanda as a tourist center</li><li>Development of Orissa as a popular tourist destination.</li></ul>Research, Innovation and New Gen reforms <ul><li>Expanding space economy by 5x in the next 10 years via a venture fund of Rs 1,000 crore</li><li>Land management and urban planning to incentivised for timely completion</li><li>Digitisation of terrestial maps will be undertaken</li><li>Establishing land registry and linking to farmer registry as well </li><li>E-shram portal to be integrated with other relevant portals for seamless services </li><li>Shram Suvidha and Samadhan portal will be revamped to enhance ease of compliance</li></ul>Investments Introduction of NPS Vatsalya: Investments can be made on behalf of child. Once they turn 18, this can be converted into a normal NPS account. Budget Estimates 2024-25 Total receipts (sans borrowings) Rs 32.07 lakh crore Tax receipts; Rs 25.83 lakh crore Fiscal deficit at 4.9% of GDP Solar Energy Increase in list of exempted capital goods used for manufacturing solar products No extension in exemption of custom duty for foreign products used for solar manufacturing Income Tax A comprehensive review of the Income Tax Act, of 1961 is in order Merger of two exemptions for charities of donations TDS rate on e-commerce operations to reduce to 0.1% Provisions for reassessment to be simplified. Also read: <a href="https://www.businessinsider.in/budget/news/budget-2024-25-changes-to-tax-slabs-increased-standard-deduction-and-other-changes-to-direct-taxation/articleshow/111951205.cms" data-type="tilCustomLink" target="_blank">Budget 2024-25: Changes to tax slabs, increased standard deduction and other changes to direct taxation</a> Simplification of capital gains STCG on specified financial assets to be at 20% Other financial and non-financial assets to be taxed at applicable rates Long term capital Gains on financial and non-financial assets to be at 12.5% Annual limit on exemption raised from Rs 1,00,000 Rs 1,25,000 Listed financial assets will be considered long-term if held for more than 12 months. Other taxation highlights Angel Tax to be scraped away Simpler tax regime for foreign shipping companies Security transaction rates on trading in future and options to be increased Standard deduction to increase to Rs 75,000 from Rs 50,000 under new tax regime Deduction for pensioners enhanced from Rs 15,ooo to Rs 25,000 Tax slabs under new regime revised. Employee can save up to Rs 17,500 in income taxes annually. Total revenue foregone is about Rs 8 lakh crore.

Union Budget 2024-25 key highlights: Angel tax to be scraped

<ul><li>Union Finance Minister <keyword id="129243" type="General" weightage="50" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword> has arrived at the Ministry of Finance in the North Block ahead of the <keyword id="6358021" type="General" weightage="100" keywordseo="budget" source="Orion">Budget</keyword> presentation today.</li><li>The Finance Minister will table the Union Budget 2023-24 at 11 am in Lok Sabha today, following which she will address the House.</li><li>The government will present the Union Budget in paperless form like the previous two ones.</li></ul> Union Finance Minister Nirmala Sitharaman on Wednesday morning arrived at the Ministry of Finance in the North Block in the Central Secretariat building ahead of the Budget presentation today in Parliament. This Budget marks the last Budget of Prime Minister <keyword id="6354477" type="General" weightage="50" keywordseo="narendra-modi" source="Orion">Narendra Modi</keyword> government in the Parliament of this term. The Finance Minister will table the Union Budget 2023-24 at 11 am in Lok Sabha today, following which she will address the House. The government will present the Union Budget in paperless form like the previous two ones. The government had presented the first paperless budget in 2021. On Tuesday, Sitharaman tabled the Economic Survey for the Financial Year 2022-23 in Lok Sabha, which said that India's economic recovery from the Covid pandemic is complete and the economy is expected to grow in the range of 6 per cent to 6.8 per cent in the coming financial year 2023-24. This is in comparison to 7 per cent this fiscal and 8.7 per cent in 2021-22. In view of the upcoming budget, top business leaders of the country have also put forward their suggestions for Nirmala Sitharaman. Arihant Infrastructures, CMD, Ashok Chhajer told on Monday that the government should focus on reducing home loan rates. "The government should reduce home loan rates. The affordable housing segment, which is capped at Rs 45 lakh, should be changed to Rs 60-75 lakh which is the average cost of a house in Metro cities and 2-tier cities," said Chhajer. Hiranandani Group MD, Niranjan Hiranandani said the Budget should focus on further investments in roads, railways, ports, airports and highways, as well as slum rehabilitation schemes. "There should be more focus on further investments in roads, railways, ports, airports and highways. The focus must also be on the slum rehabilitation schemes to make India a slum-free country," said Hiranandani. The Budget Session of the Parliament began on January 31 with President Droupadi Murmu's Address to the joint session of both houses. The President touched upon various subjects during her inaugural address, which was her first one after being elected to the topmost office of the country last year. She mentioned women empowerment, India's defence exports, and Aatmanirbhar Bharat by 2047 among others. Ahead of the President's Address, Prime Minister Narendra Modi addressed the media outside the Parliament. Prime Minister Modi said that India's Budget will attempt to meet the hopes and aspirations of the common citizens amid the unstable global economic situation. "Our Finance Minister will present one more Budget before the country tomorrow. In today's global circumstances, not only India but the entire world is looking at India's budget," PM Modi said. The Prime Minister firmly exuded confidence that Union Finance Minister Nirmala Sitharaman will make efforts to meet the expectations. "Amid the unstable global economic situation, India's budget will attempt to meet the hopes and aspirations of the common citizens. The ray of hope being seen by the world grows brighter-for this, I firmly believe that Nirmala Sitharaman will make all efforts to meet those aspirations," PM Modi said while addressing the media. The Prime Minister cited the "credible voices from the world of economy" and said that they have brought a positive message ahead of the session. "Today, the Budget Session is commencing. Credible voices from the world of economy, have brought in a positive message, a ray of hope and a beginning of enthusiasm," he said. The budget session that began on Tuesday with the President's address will take place in 27 sittings till April 6 with a month-long recess to examine the budget papers. The first part of the session will conclude on February 13. Parliament will reconvene on March 12 for the second part of the Budget Session and will conclude on April 6. SEE ALSO: <a href="https://www.businessinsider.in/budget/news/budget-2023-expectations-india-will-need-talent-in-quality-and-quantity-to-fuel-growth/articleshow/97438062.cms">India budget expectations: Reform in ESOP taxes, allocations needed to address skill gaps</a> <a href="https://www.businessinsider.in/budget/news/budget-2023-funding-support-liberal-tax-regime-and-other-things-fintechs-expect-from-the-government/articleshow/97373905.cms">Budget 2023: Funding support, liberal tax regime and other things fintechs expect from the government</a> <a href="https://www.businessinsider.in/budget/news/budgeting-for-climate-change/articleshow/97378027.cms">Budgeting for the fifth C</a>

Nirmala Sitharaman arrives at North Block ahead of Union Budget 2023 today

<ul><li>The Finance Minister Nirmala Sitharaman will present the budget at 11 am today (February 1).</li><li>This would be FM Sitharaman’s third budget under the National Democratic Alliance (NDA) government led by Prime Minister Narendra Modi.</li><li>In a historic move, the upcoming budget will be paperless as the Finance Ministry has decided not to print the budget documents amid the pandemic.</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/budget">Budget Insider</a>.</li></ul>While the Indian economy was already reeling under the slowdown, the coronavirus blow just made it worse. And, now all eyes are eagerly waiting for the Finance Minister Nirmala Sitharaman on February 1, as she tables the budget for the next fiscal year in the Lok Sabha. The country has high hopes from the first budget that will come up immediately after a pandemic-induced nationwide lockdown that brought economic activity in the country to a grinding halt forcing the GDP to contract for the very first time in many, many years. Also, a first would be an acute recession that the country stares at and severe unemployment levels that turned from bad to worse post the lockdown. <div type="Article" hostid="261" msid="80596702" title="India’s travel and tourism sector is hoping that the Budget won’t leave them behind" mstype="2" mssubtype="0"></div> With all segments of the Indian economy eagerly waiting to see if their concerns are addressed in the <keyword id="10270141" type="UNKNOWN" weightage="20" keywordseo="Union-Budget-2021">union budget 2021</keyword>, the FM has a challenging task on her table. Though not for the first time, the Budget 2021-22 also faces severe challenges to do a tough balancing act to revive growth in the economy amidst shrinking revenue streams and need to balance expenditure and come back on the path of fiscal consolidation. The Finance Minister herself said that her third budget would be "unprecedented" as the country looks to rebuild after a pandemic-hit year. WATCH: Union Budget 2021-22: Live from Parliament <div type="Youtube" id="Q9wNIyLdZLo" title="Union Budget 2021-22: Live from Parliament" thumbUrl="https://i.ytimg.com/vi/Q9wNIyLdZLo/mqdefault_live.jpg"></div> Schedule of budget 2021 The Finance Minister Nirmala Sitharaman will present the budget at 11 am on February 1, 2021, which happens to be a Monday. Ahead of the budget session, India's chief economic advisor, Krishnamurthy Subramanian <a href="https://www.businessinsider.in/budget/news/highlights-from-indias-annual-economic-survey-ahead-of-budget-2021/slidelist/80574947.cms">presented the economic survey on Friday</a>. This would be FM Sitharaman’s third budget under the National Democratic Alliance (NDA) government led by Prime Minister Narendra Modi. During the first tenure of the Modi government, it was decided that the union budget would be presented on the first working day of February instead of the last working day of February, which will mean the budget sessions have been advanced by a month. Since the move, the tradition has continued till date through all the government's subsequent budgets. The advancing of the date of the union budget was to ensure that the budgeting process starts in February will be completed before the end of March and the spending exercise for the next fiscal year could start on April 1. <div type="Article" hostid="261" msid="80476759" title="A playbook for Budget 2021 to boost electronics manufacturing in India" mstype="2" mssubtype="0"></div> Where to watch the budget session 2021 live? Here is a list of some channels where you can watch the budget session 2020 live at 11 hours on Saturday, February 1, 2020: <a href="https://loksabhatv.nic.in/">Lok Sabha Television</a>, <a href="https://webcast.gov.in/lstvlive/">Lok Sabha live webcast</a>, <a href="https://www.timesnownews.com/livetv/timesnow/video">Times Now</a>, <a href="https://www.timesnownews.com/livetv/etnow/video">ET Now</a>, <a href="https://aajtak.intoday.in/">Aaj Tak</a>. One can also follow <a href="https://www.businessinsider.in/">Business Insider India’s live blog</a> for the latest updates. A paperless budget The upcoming budget scheduled for February 1 will go paperless as the Finance Ministry has decided not to print the budget documents amid the pandemic. This is a historic move as it will be for the first time in the history of independent India that the budget papers will not be printed. For the first time, there has been no lockdown in the finance ministry before the Budget presentation as the paperless exercise avoids the need for secrecy associated with printed documents. Usually, when the printing starts, printing staffers stay inside the press until the budget presentation. Only a few high-ranked officials are allowed access and that too on the basis of a special identity card. The special security forces man the entire facility, loading-unloading and transportation. This is not the first time that there would be a change in tradition in the presentation of the budget under Finance Minister Nirmala Sitharaman. Last year, she did away with a colonial-era tradition of carrying Budget papers in a briefcase and introduced the Budget 'Bahi Khata' or a ledger, enclosed in a red cloth folder and tied with a string. SEE ALSO: <a href="https://www.businessinsider.in/budget/news/do-not-panic-when-finance-minister-nirmala-sitharaman-reads-out-the-revised-estimates/articleshow/80400869.cms" data-type="tilCustomLink">Do not panic when Finance Minister Nirmala Sitharaman reads out the revised estimates</a> <a href="https://www.businessinsider.in/budget/news/here-are-the-major-changes-that-could-reportedly-come-up-with-the-union-budget-2021-by-nirmala-sitharaman/articleshow/80325146.cms" data-type="tilCustomLink">Budget 2021: From Income Tax deductions to creating jobs and boosting healthcare – Here’s all that could be in Nirmala Sitharaman’s fiscal plans</a>

Union Budget 2021: Date, time, schedule and other details you should know

(Eds: With more reax) New Delhi/Kolkata, Feb 1 () The TMC lashed out at the Centre over the Union Budget on Monday, saying it was 100 per cent "visionless" and its theme was "sell India". The remarks came after Finance Minister Nirmala Sitharaman read out the Union Budget speech in the Lok Sabha. "India's first paperless budget is also a 100% visionless budget. Theme of the fake budget is Sell India!" TMC spokesperson Derek O'Brien said. "Railways: sold, Airports: sold, Ports: sold, Insurance: sold PSUs: 23 sold!" O'Brien claimed common people and farmers were ignored, adding that the Budget would make the rich richer and the poor poorer, while the middle class got "nothing". The Rajya Sabha MP also highlighted statistics to show how West Bengal had developed rural roads. "Rural roads: 39,705 km rural roads till 2011. 88,841 km rural roads developed between 2011-20," he said, adding that the state was No. 1 in rural roads. "What Bengal did yesterday, Centre only talks today: Budget 2021 promise 625 km roads in Bengal. Bengal government (2018-19) New roads of 5111 km, top performer in country. additional 1165 km constructed in 2019-20," he said. Speaking on similar lines, party leader and MP Sukhendu Sekhar Roy termed it a "useless budget" that will aggravate the economic crisis instead of resolving issues. "This budget is a complete hoax. It will not solve the problem of unemployment as it has got no roadmap to increase jobs," Roy said. About the proposal to increase foreign direct investment (FDI) limit in the insurance sector to 74 per cent, he said it will only help crony capitalists. "It will help them, not the middle class or those from the lower income groups. They are implementing cess, but the revenues generated from it is not shared with the states," Roy said. Finance Minister Nirmala Sitharaman on Monday presented the Budget for 2021-22 in the Lok Sabha. ASG PNT RBT RBT

Union Budget 100 per cent visionless, complete hoax: TMC

New Delhi, As all eyes across the country are set to witness the <keyword id="6358021" type="COMPANY" weightage="20" keywordseo="budget">Budget</keyword> 2021 to be presented in Parliament very soon, Finance Minister <keyword id="129243" type="PERSON" weightage="20" keywordseo="Nirmala-Sitharaman">Nirmala Sitharaman</keyword> on Monday moved for the House. The Budget comes at a time when India has been battling with the coronavirus or <keyword id="8902449" type="UNKNOWN" weightage="20" keywordseo="covid-19-pandemic">Covid-19 pandemic</keyword> and the <keyword id="34412" type="ORGANIZATION" weightage="20" keywordseo="economy">economy</keyword> is reeling under the aftereffects of the <keyword id="91743" type="PERSON" weightage="20" keywordseo="lockdown">lockdown</keyword>. Sitharaman will present the Budget at 11 a.m. in the Lok Sabha. The Budget is in a series of three-four mini Budgets presented during <keyword id="1799114" type="PERSON" weightage="20" keywordseo="last-year">last year</keyword> considering the pandemic. This would be Sitharaman's third Budget under the National Democratic Alliance (NDA) government led by Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword>. Breaking the tradition, this year's Budget will be unique as it will be paperless. At the beginning of the joint session of Parliament on Friday, Modi had also said that the Finance Minister had already announced 3-4 mini budgets and that the 2021-22 Budget would be a historic. After an estimated 7.7 per cent contraction in 2020-21, the Economic Survey presented by Sitharaman on Friday has projected that India's real GDP would record a growth of 11 per cent in 2021-22. The nominal GDP growth has been estimated at 15.4 per cent, implying an assumption of 4.4 per cent inflation during the year. Sitharaman had then asserted that this year's Budget will "be a Budget like never before." It is expected that the Budget will help in revival by various sectors like agriculture, infrastructure, healthcare, rural economy and MSMEs sectors that faced the worst impact of the Covid-19 pandemic and lockdown restrictions. SEE ALSO: <a href="https://www.businessinsider.in/travel/article/the-many-marvels-of-satpura-biosphere-reserve/articleshow/80598269.cms">The many marvels of Satpura Biosphere Reserve in Madhya Pradesh</a> <a href="https://www.businessinsider.in/budget/news/india-travel-and-tourism-sector-is-hoping-that-the-budget-2021-wont-leave-them-behind/articleshow/80596702.cms">India’s travel and tourism sector is hoping that the Budget won’t leave them behind</a>

Finance Minister reaches Parliament to present Budget 2021

New Delhi, In a significant change amid digitalisation, <keyword id="7706673" type="UNKNOWN" weightage="20" keywordseo="finance-minister-nirmala-sitharaman">Finance Minister Nirmala Sitharaman</keyword> this year unveiled a 'Made in India' tablet replacing the traditional briefcase before presenting <keyword id="6358021" type="COMPANY" weightage="20" keywordseo="budget">Budget</keyword> 2021. With the move aimed at a paperless Budget, now 'bahi khata' (a ledger wrapped in a red cloth) has been completely removed from this year -- a move to reinforce Prime Minister Narendra Modi's ambitious '<keyword id="50691" type="COMPANY" weightage="20" keywordseo="Digital">Digital</keyword> India' mission. In 1947, India's first Finance Minister R. K. Shanmukham Chetty carried a leather portfolio to present the first Budget. In January, the Central government also launched '<keyword id="6360189" type="COMPANY" weightage="20" keywordseo="union-budget">Union Budget</keyword> Mobile App' on the occasion of the Halwa ceremony to enable MPs and people to access Budget documents digitally. It was launched as no budget papers will be printed this year in the wake of the <keyword id="8902449" type="UNKNOWN" weightage="20" keywordseo="covid-19-pandemic">Covid-19 pandemic</keyword>. Sitharaman, who will present the Budget for the third time, is expected to lift and give an impetus to the Indian economy that has been battered due to the pandemic and subsequent lockdown. The Budget comes at a time when India has been battling with the Covid-19 pandemic and the economy is reeling under the aftereffects of the lockdown. Sitharaman will present the Budget at 11 a.m. in the Lok Sabha. This is in a series of three-four mini Budgets presented during last year considering the pandemic. This would be Sitharaman's third Budget under the <keyword id="105903" type="COMPANY" weightage="20" keywordseo="National-Democratic-Alliance">National Democratic Alliance</keyword> (NDA) government led by Prime Minister Narendra Modi. At the beginning of the joint session of Parliament on Friday, Prime Minister Narendra Modi had also said that the Finance Minister had already announced 3-4 mini Budgets and that the 2021-22 Budget would be historic. It is expected that the Budget will help in the revival by various sectors like agriculture, infrastructure, healthcare, rural economy and MSMEs sectors that faced the worst impact of the Covid-19 pandemic and lockdown restrictions. SEE ALSO: <a href="https://www.businessinsider.in/budget/news/india-union-budget-2021-live-news-and-highlights/liveblog/80621593.cms">Budget 2021 Live Updates : Finance Minister Nirmala Sitharaman to present the first-ever digital Union Budget today</a>

Digital Budget 2021: 'Made in India' tablet replaces 'bahi-khata'

An unreserved train ticket for travelling upto 199 km distance will no longer be valid after three hours of purchase of the ticket as railways has formulated a new rule to be effective from March 1, Lok Sabha was told today. 
 <keyword id="427004" type="UNKNOWN" weightage="100" keywordseo="unreserved-tickets">Unreserved tickets</keyword> for distances upto 199 km, the journey has to be started from the originating station within three hours of the issue of tickets or upto the departure of first train for the destination whichever is later, Minister of State for Railways <keyword id="6357016" type="PERSON" weightage="100" keywordseo="Manoj-Sinha">Manoj Sinha</keyword> said in a written reply. 
 
He said the return journey facility for distance upto 199 km for unreserved tickets has been withdrawn. 
 
Image credit: Indiatimes 
 
Sinha said the facility for issuing paperless platform tickets through mobile phones is already available on 29 stations.

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