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Budget 2024-25: Finance Minister Nirmala Sitharaman bets on social security schemes, no change in tax slabs

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With the Narendra Modi government’s second term coming to an end, Finance Minister Nirmala Sitharaman presented her sixth budget, albeit an interim one at that. The government has focused on people’s welfare, extension of social security schemes for the poor, women, youth and farmers. She said she hoped the people of the country will vote the party back to power in the Lok Sabha polls.

The Finance Minister said the BJP-led government is working to make India ‘Viksit Bharat’. She said the government was keen on governance, development and performance, GDP. The government has raised 25 crore people from below the poverty line over the 10 years. As expected, there was no change in tax slabs, though the FM spoke of increasing tax exempt income from Rs 2.5 lakh in 2013-14 to Rs 7 lakh last year, though under the new tax regime.

Keeping rural India firmly in mind, she said 2 crore (20 million) houses will be built under the PM Awaas Yojana Grameen over the next five years. Analysts had expected a similar plan for urban areas. Similarly, the Ayushman Bharat scheme has been extended to all ASHA and Anganwadi workers which would enable them to avail free medical treatment at primary health centres and government facilities.

A long-term financing corpus will be set up with 50-year interest free loan for longer tenures for development of tech industries. The government will also launch schemes to strengthen deep tech for defence purposes.

The bigger announcement was on the plan to limit the fiscal deficit below 5% in 2026 despite the push for greater infrastructure thrust. The deficit for 2024-25 is expected to stay at 5.8% of the GDP.

The government has also cancelled direct tax demands for some 1 crore taxpayers. The greater push for increasing solarisation among households via rooftop solarisation targeting 300 free units per month is a hat-tip to the free power schemes introduced by the Aam Aadmi Party.

Finance Minister completes interim budget presentation

Union Finance Minister Nirmala Sitharaman concluded her interim budget presentation.

Tax benefits extended to March 2025

The tax benefits for startups, investments made by sovereign wealth, pension funds are to be extended to March 2025

3 railway economic corridors programmes to be implemented

The railway economic corridor programmes for energy, minerals and cement as well as port connectivity and heavy will be put into effect. The Finance Minister stated that PM Gati Shakti has designated the projects that will enable multi-modal connectivity and will lower costs and increase the effectiveness of logistics

Nirmala Sitharaman push for enhancement in tech sector

During the budged presentation, the Finance Minister said that a corpus of Rs1 lakh crore will be established with 50-year interest free loan to provide long term financing with loang tenure with no or less interest rates. She added that a new technology will be launched to strengthen deeep tech for defence purpose.

FDI inflow during FY 14-25 was USD 596 bn

Finance Minister Nirmala Sitharaman asserted that the Foreign Direct Investment during the financial year 14-20 was USD 596 billion.

Union Finance Minister Sitharaman on PM Modi’s roof-top solarisation scheme

According to Nirmala Sitharaman, rooftop solarisation will provide 300 units of free electricity per month to 1 crore families.

Ayushman Bharat cover to be extended

Union Finance Minister Nirmala Sitharaman has said all Asha and Anganwadi workers will be included in the Ayushmann Bharat initiative.

FM announces 2 crore more houses under PMYA-G

Two crore more houses would be constructed under the Pradhan Mantri Awas Yojana – Gramin, according to the Union Finance Minister.

Nirmala Sitharaman explains government focus for the interim budget

Finance Minister Nirmala Sitharaman stated that the central government is focusing on four major groups namely poor, women, youth and the farmers.

Finance Minister begins interim budget presentation

Union Finance Minister Nirmala Sitharam commences to present the interim budget 2024-25, setting the stage for Lok Sabha Election 2024. In this budget, the Finance Minister is likely to focus on social welfare schemes, farmers, women and job creation.

Growth rate to stay above 6%

Ahead of the budget, the Economic Review had pegged the growth rate at 7%, the IMF has forecast GDP growth rate for India at 6.5%

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Centre reassures farmers as India-US trade deal nears completion

The Centre has assured farmers that the upcoming India-US trade deal will not harm agriculture or dairy, while creating new export opportunities for India.

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farmer

As India and the United States move closer to finalising a major bilateral trade agreement, the Centre has sought to reassure farmers that their interests remain fully protected. Senior ministers on Wednesday said the proposed pact does not compromise sensitive sectors such as agriculture and dairy, while opening new avenues for Indian exports.

Union Minister for Agriculture and Farmers’ Welfare Shivraj Singh Chouhan dismissed opposition allegations that the deal could adversely affect domestic farmers. Speaking to the media in New Delhi, he said the agreement poses no risk to staple food grains, millets, fruits or dairy products.

“Farmers’ interests are paramount and non-negotiable,” Chouhan said, asserting that the government has ensured no provision allows sudden or disruptive entry of foreign agricultural products into Indian markets. He added that safeguards for both small and large farmers remain firmly in place.

Chouhan underlined that key agricultural commodities continue to be protected and that existing measures shielding Indian farmers from unfair competition will remain unchanged. According to him, the agreement has been shaped under the leadership of Prime Minister Narendra Modi, with a clear focus on development and national interest.

Addressing concerns sparked by a recent social media post from a US official regarding greater access for American farm products, the Agriculture Minister said the matter had already been clarified in Parliament by Commerce Minister Piyush Goyal. He reiterated that India has not opened its markets in a way that would put pressure on domestic producers.

At the same time, the government highlighted potential gains for Indian exports. Reduced tariffs under the agreement are expected to benefit sectors such as rice, spices and textiles. Chouhan pointed out that India already exports rice to multiple countries, including the US, with shipments valued at around Rs 63,000 crore. Increased textile exports, he added, would directly support cotton-growing farmers and allied industries.

External Affairs Minister S Jaishankar also indicated that the trade agreement is now in its final stages. In a post on X following his visit to the United States, he described the negotiations as productive and said the deal would mark a new phase in bilateral relations. He noted progress in areas such as critical minerals, while signalling deeper engagement in defence, energy and strategic cooperation.

Officials view the agreement as part of a broader effort to strengthen India-US economic and strategic ties amid global uncertainty. While detailed provisions are yet to be made public, the Centre has reiterated that farmer welfare remains at the heart of the negotiations.

In an emotional appeal, Chouhan referred to farmers as the nation’s “Annadata” and said serving them was equivalent to worship. He assured that the government would continue to stand firmly with farmers as India charts a new course in its trade relationship with the United States.

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India News

Punjab AAP leader Lucky Oberoi shot dead in daylight attack in Jalandhar

AAP leader Lucky Oberoi was killed in a daylight shooting in Punjab’s Jalandhar after attackers fired multiple bullets at him while he was inside his car.

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AAP LEADER Lucky oberoi

AAP leader Lucky Oberoi was shot dead in a broad daylight attack in Punjab’s Jalandhar on Friday after unidentified assailants opened fire at him near a gurdwara in the city.

According to initial information, Oberoi was inside his car near the Gurdwara Sahib in the Model Town area when attackers arrived on a two-wheeler and fired multiple rounds at him. Five bullets reportedly hit him during the attack.

He was rushed to a private hospital immediately after the shooting, but doctors declared him dead due to the severity of his injuries.

Attack near gurdwara, police launch investigation

As per preliminary details, Oberoi was parking his vehicle outside the gurdwara when the attackers struck. The shooting triggered panic in the area, prompting an immediate response from the local police.

A police team reached the spot soon after receiving information and has launched an investigation into the incident. Efforts are underway to identify the attackers and determine the motive behind the killing.

Political reactions after killing

Following the incident, Leader of Opposition in the Punjab Legislative Assembly, Partap Singh Bajwa, strongly criticised the state government, alleging a collapse of law and order in Punjab.

In a post on X, Bajwa said the daylight killing of an AAP leader outside a gurdwara reflected the deteriorating security situation in the state. He questioned the government’s ability to protect citizens, claiming that fear and gang violence were gripping Punjab under the current administration.

Background

Lucky Oberoi was associated with the Aam Aadmi Party in Punjab. His wife had earlier contested municipal elections as an AAP candidate but did not win.

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Pariksha Pe Charcha 2026: PM Modi to interact with students at 10 am today

PM Modi will address students across India at 10 am today as part of Pariksha Pe Charcha 2026, focusing on stress-free examinations and learning.

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Pariksha pe charcha

Prime Minister Narendra Modi will interact with students from across the country on Friday at 10 am as part of the annual Pariksha Pe Charcha (PPC) programme. The 2026 edition continues the initiative’s focus on reducing exam-related stress and encouraging students to prioritise learning over pressure.

In a message shared on X, the Prime Minister invited students, parents and teachers to watch Pariksha Pe Charcha 2026, noting that this year’s discussions will cover topics related to examinations, the importance of staying stress-free and maintaining focus on learning. He described the programme as a platform he enjoys, as it allows him to engage directly with young minds from different parts of the country.

Aligned with NEP 2020 vision

The Pariksha Pe Charcha initiative aligns with the National Education Policy 2020, which emphasises holistic development, mental well-being and a supportive learning environment. The programme seeks to transform how examinations are perceived by fostering confidence, positivity and celebrating the exam season as a learning festival rather than a source of anxiety.

According to an official release from the Ministry of Education, the Prime Minister has also shared his views on examinations and student well-being in his book Exam Warriors. Available in multiple languages as well as Braille, the book highlights the importance of self-belief and open conversations around stress so that children can enjoy a balanced and fulfilling childhood.

Student participation in pre-event activities

Conceptualised by the Prime Minister, Pariksha Pe Charcha introduces new and engaging elements every year. In the lead-up to the 2026 edition, several student-focused activities were organised across schools nationwide. These included the Swadeshi Sankalp Daud, a student-led run or walk promoting the spirit of self-reliance, along with quiz and writing competitions conducted at selected Kendriya Vidyalayas on Parakram Diwas.

The Ministry of Education stated that approximately 4.81 crore students participated in these pre-event activities, reflecting the scale and reach of the initiative.

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