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Budget 2024-2025: Key takeaways from FM Nirmala Sitharaman’s interim budget speech

According to Sitharaman, India’s economy, which is the fastest growing among major nations, is experiencing significant transformation.

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The key takeaways from the Finance Minister Nirmala Sitharaman’s interim budget 2024-2025 speech are:

  1. The government aims to make the country Viksit Bharat by 2047. Our Government is working with an approach to development that is all-round, all-pervasive and all-inclusive, Sitharaman said.
  2. PM-SVANidhi has provided credit assistance to 78 lakh street vendors.  From that total, 2.3 lakh have received credit for the third time, she said.
  3. India’s economy, the fastest growing among major nations, is going through profound change, Sitharaman said.
  4. The government is focused on more comprehensive GDP, governance, development, and performance, Sitharaman said.
  5. The Finance Minister said PM-JANMAN Yojana reaches out to the particularly vulnerable tribal groups, who have remained outside the realm of development so far.
  6. The government has lifted 250 million people out of poverty in a decade. The crop insurance scheme aims to benefit 40 million farmers.
  7. PM-Vishwakarma Yojana provides end-to-end support to artisans and craftspeople engaged in 18 trades. The schemes for empowerment of Divyangs and Transgender persons reflect the firm resolve of our Government to leave no one behind, she said.
  8. According to Sitharaman, India’s economy, which is the fastest growing among major nations, is experiencing significant transformation.
  9. Sitharaman stated that the government is prioritizing a holistic GDP approach, encompassing governance, development, and performance.
  10. Tax reforms have widened the tax base and increased tax collections, Sitharaman said.
  11. The government will launch a new scheme to strengthen deep tech for defence purposes.
  12. The success of self-help groups empowered 1 crore women to become Lakhpati Didis, the government says while presenting Budget 2024.
  13. Tax benefits for startups and investments made by sovereign wealth and pension funds will be extended until March 2025, she said.
  14. Sitharaman said the government will focus on improving tourist infrastructure in the Union Territory of Lakshadweep.
  15. Finance Minister Nirmala Sitharaman announced in her interim Budget 2024 speech that the government will make substantial investments in the country’s tourism sector.
  16. Nirmala Sitharaman announced that the government will be building 20 million affordable houses in the next five years, alongside the 30 million houses already constructed.

India News

Ghaziabad schools, colleges to remain closed till August 12 for Kanwar Yatra

Ghaziabad has announced the closure of all schools, colleges and universities from August 4 to 12 due to the Kanwar Yatra. Scheduled examinations will continue as planned.

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The Ghaziabad district administration has ordered the closure of all schools, colleges, universities and technical institutions from August 4 to August 12 due to the heavy movement of Kanwar pilgrims during the ongoing Kanwar Yatra.

According to the official order issued on Monday, schools from Nursery to Class 12 across all education boards, including Basic Education Council, Secondary Education Council, CBSE, ICSE and Madrasa Board, will remain closed during the period. The decision has been taken to ensure the safety of students amid increased traffic and large gatherings associated with the annual pilgrimage.

The administration has clarified that while educational institutions will remain closed, examinations scheduled during this period will be conducted as per the existing timetable.

Shravan Shivratri to be observed on August 11

The District School Inspector, in an official circular, noted that the main festival of Shravan Shivratri will be celebrated in the district on August 11, 2026. With a large number of Kanwar pilgrims travelling through Ghaziabad since the beginning of the Shravan month on July 30, authorities have imposed the temporary closure as a precautionary measure.

The official order states that the closure applies to all government and private schools affiliated with various education boards across the district.

Colleges, universities also covered

The notification further states that all government and private colleges, universities and technical institutions in Ghaziabad will remain closed from August 4 to August 12. However, institutions conducting previously scheduled examinations have been permitted to hold them as per the announced examination schedule.

The administration has advised educational institutions to comply with the order and ensure the safety of students during the Kanwar Yatra period.

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Parliament panel seeks Zuckerberg’s apology over PM Modi video removal, questions Meta’s accountability

The Parliamentary Standing Committee on IT has sought an apology from Meta chief Mark Zuckerberg over the temporary removal of Prime Minister Narendra Modi’s Facebook video, while raising concerns over accountability, algorithmic bias and safe harbour protection.

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The Parliamentary Standing Committee on Information Technology has sought an apology from Meta chief Mark Zuckerberg over the temporary removal of Prime Minister Narendra Modi’s Facebook video, saying that a simple expression of regret would not be enough unless accountability is fixed.

The committee, chaired by BJP MP Nishikant Dubey, met representatives of Meta, Google, YouTube, senior officials from the Ministry of Electronics and Information Technology (MeitY), and the Union Home Ministry to discuss issues related to social media regulation, algorithmic transparency and platform accountability.

Panel demands accountability over PM Modi video removal

During the meeting, members questioned Meta over the removal of a Facebook video in which Prime Minister Narendra Modi addressed young people and promised strict action against exam paper leaks.

According to sources, committee members asked who was responsible for taking down the video and why it was removed while other objectionable content remained on the platform. Meta reportedly expressed regret over the incident and offered an apology.

However, members of the panel maintained that the matter should not end with an apology alone. They said responsibility for the lapse must be established and legal action should be considered wherever required.

The committee also questioned what safeguards ordinary Indian users have if the Prime Minister’s content could be removed in such a manner.

Nishikant Dubey warns over safe harbour protection

Speaking after the meeting, Nishikant Dubey said Mark Zuckerberg should personally apologise for the incident.

He also warned that if such an apology is not forthcoming, Meta’s “safe harbour” protection could come under scrutiny. Safe harbour provisions protect online platforms from liability for third-party content, provided they comply with due diligence requirements under Indian law.

Dubey further claimed that the Prime Minister’s video remained unavailable for around five hours and described the matter as serious.

Panel raises concerns over algorithms and child safety

Apart from the video controversy, the committee also questioned Meta over alleged algorithmic bias and the way content is promoted on social media platforms.

Dubey said the committee unanimously discussed concerns regarding algorithm-driven reach and claimed that newer or unregistered groups were receiving greater visibility than recognised political parties. He said understanding how platforms determine content reach was important for the country.

The meeting also included discussions on child sexual abuse material (CSAM) and the responsibilities of social media companies in preventing such content from appearing on their platforms.

MeitY had earlier questioned Meta’s explanation

Last week, MeitY had summoned Meta’s global team over issues related to algorithmic bias, platform processes and their potential impact on public order.

Meta had attributed the temporary removal of the Prime Minister’s video to a technical glitch. However, according to sources, the ministry considered the explanation inadequate.

Separately, Hyderabad Cyber Crime Police have registered cases against Meta India head Arun Srinivas and certain Facebook and Instagram accounts over allegedly morphed and AI-generated posts targeting Prime Minister Narendra Modi.

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Prashant Kishor wins Bankipur bypoll, secures first electoral victory in BJP bastion

Prashant Kishor won the Bankipur Assembly bypoll in Bihar by defeating BJP candidate Neeraj Kumar by 19,324 votes. The victory marks Kishor’s first electoral success and Jan Suraaj’s maiden Assembly seat.

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Jan Suraaj chief Prashant Kishore

Jan Suraaj Party (JSP) founder Prashant Kishor has registered his maiden electoral victory by winning the Bankipur Assembly bypoll in Bihar, ending the BJP’s long dominance in the constituency. The former election strategist defeated BJP candidate Neeraj Kumar by a margin of 19,324 votes, marking the first Assembly seat won by both Kishor and his party.

According to Election Commission data, Kishor secured 64,151 votes, while Neeraj Kumar polled 44,827 votes. Rashtriya Janata Dal (RJD) candidate Rekha Kumari finished third with 14,273 votes.

Prashant Kishor promises visible changes in Bankipur

After the victory, Prashant Kishor thanked the voters and assured them that development work would begin immediately.

Addressing reporters, he said people would witness visible changes in Bankipur within three months and requested residents to give him that time. He also said his office would remain open not only for the people of Bankipur but for everyone in Bihar.

Kishor described the victory as significant, saying his party had managed to end what he called the BJP’s three-decade hold over the constituency in just 30 days of campaigning.

Says Bihar voters have sent a message to BJP

Speaking after the results, Kishor said the people of Bihar had conveyed a message to the BJP’s central leadership that the state needed a chief minister focused on improving education and creating employment opportunities. He also said voters wanted leadership with a clean public image.

Bihar Chief Minister congratulates Kishor

Bihar Chief Minister Samrat Choudhary congratulated Prashant Kishor on his victory through a post on X.

He said the people had chosen Jan Suraaj in the Bankipur Assembly by-election and extended his congratulations while respecting the democratic verdict.

Why the Bankipur bypoll drew national attention

The Bankipur by-election attracted national attention for several reasons. The constituency has long been considered a BJP stronghold and was represented for multiple terms by senior BJP leader Nitin Nabin, who vacated the seat after moving to the Rajya Sabha.

The contest also gained prominence after Prashant Kishor entered the fray and came in the backdrop of nationwide student protests centred around education-related issues. Political observers had closely watched whether young voters would influence the outcome in the urban Patna constituency.

The BJP also witnessed a last-minute change in candidate after Abhishek Kumar Sinha withdrew before filing his nomination, following which the party fielded youth wing leader Neeraj Kumar. The RJD nominated Rekha Kumari.

Jan Suraaj opens its electoral account

The victory marks a milestone for the Jan Suraaj Party, which had failed to win any seats in the 2025 Bihar Assembly election. Kishor himself had not contested that election.

With the Bankipur result, Jan Suraaj has opened its electoral account, while Kishor has entered the Bihar Assembly for the first time.

Reacting to the outcome, Jan Suraaj’s Bihar chief Manoj Bharti said the people of Bankipur had voted for change. He claimed the party received support across different sections of society and thanked what he described as the party’s “silent voters” for helping secure the victory.

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