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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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Case registered against Mamata Banerjee over controversial 2025 religion remark

A formal police case has been registered against Trinamool Congress supremo Mamata Banerjee in Siliguri, West Bengal. The complaint alleges that her 2025 “Ganda Dharm” remark targeted Hinduism and hurt the religious sentiments of the community.

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Mamata Banerjee

A formal police complaint has been lodged against Trinamool Congress (TMC) chief Mamata Banerjee in West Bengal’s Siliguri. The legal action stems from an alleged derogatory remark regarding Hinduism made during an Eid congregation in Kolkata in 2025.

The case was registered following a complaint filed by a local lawyer, Rinki Chatterjee, who alleged that the former Chief Minister’s comments deeply hurt the religious sentiments of Hindus globally.

Legal charges and complaint details

The police have invoked multiple sections under the Bharatiya Nyaya Sanhita (BNS) against Banerjee, including Section 351(1) for criminal intimidation, Section 352 for intentional insult with intent to provoke breach of peace, and Section 353 for promoting feelings of enmity, hatred, or ill will between different communities.

According to the complaint, the controversy traces back to an Eid event organized on Kolkata’s iconic Red Road in 2025. While delivering a speech targeting the Bharatiya Janata Party (BJP), Banerjee purportedly referred to the version of Hinduism championed by the political rival as “Ganda Dharm” (filthy religion).

Chatterjee stated in her complaint that labeling Sanatan Dharma in such a manner at a religious gathering was “absolutely unacceptable”. The complainant also pointed to other instances where senior TMC leaders allegedly targeted Hinduism, adding that Banerjee made indirect threats to the Hindu community during the 2026 West Bengal Assembly election campaign to influence voters through intimidation.

Political responses to the FIR

The reported statements had previously drawn sharp criticism from the state BJP leadership last year, including strong objections from current Chief Minister Suvendu Adhikari. However, this FIR represents the first formal legal action taken regarding the speech.

When approached for a response, Atri Sharma, a lawyer and general secretary of the TMC’s Darjeeling unit, declined to comment officially as a party spokesperson. However, he noted that many within the party internal circles found the remarks inappropriate at the time they were spoken. Sharma acknowledged that holding a high public office required restraint and affirmed that every individual holds the moral right to pursue legal remedies.

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Enforcement Directorate raids former Kerala Chief Minister Pinarayi Vijayan’s residence in money laundering probe

The Enforcement Directorate on Wednesday carried out searches at the Thiruvananthapuram residence of former Kerala Chief Minister Pinarayi Vijayan and 11 other locations in connection with a money-laundering probe registered in 2024.

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The Enforcement Directorate on Wednesday conducted extensive searches at the Thiruvananthapuram residence of former Kerala Chief Minister Pinarayi Vijayan. The action comes as part of an ongoing money-laundering investigation, with the central probe agency executing simultaneous raids at 12 separate locations across the state under the Prevention of Money Laundering Act (PMLA).

Broad Crackdown in Financial Probe

The central agency’s operations focused significantly on Vijayan’s rented residence in the state capital, alongside eleven other locations, including premises in Kochi, Kozhikode, Kannur, and Bengaluru. This major enforcement action was initiated shortly after the Kerala High Court dismissed a petition on Tuesday, which had been filed by Cochin Minerals And Rutile Ltd (CMRL) seeking to quash the ongoing ED proceedings.

The roots of the financial investigation trace back to a PMLA case registered in 2024. The core allegation involves an estimated illegal payment of ₹1.72 crore made between 2017 and 2019 by a private entity, Cochin Minerals And Rutile Ltd (CMRL), to Exalogic Solutions, an IT firm owned by Vijayan’s daughter, T Veena.

According to investigators, the financial transactions took place despite the IT firm allegedly rendering no services to the private company. Apart from the financial probe agency’s scrutiny, the Serious Fraud Investigation Office (SFIO) is also independently conducting an inquiry into the wider financial transactions of the matter.

Political Developments

The searches also covered locations linked to other political and executive figures associated with the matter, including premises connected to senior CMRL executives. While the ruling party has previously described the investigations as politically motivated, the central agency has intensified its probe following the high court’s refusal to grant interim relief to the private firm. The case has sparked intense political debate, with opposition parties using the findings to allege financial irregularities, while local party leaders maintain that the transactions were part of a legitimate business arrangement.

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IPL 2026 Qualifier 1: Rajat Patidar, Virat Kohli shatter playoff records as RCB crush GT to reach final

Defending champions Royal Challengers Bengaluru advanced to their second consecutive IPL final after a historic 92-run demolition of Gujarat Titans in Qualifier 1, powered by Rajat Patidar’s breathtaking 93*

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Defending champions Royal Challengers Bengaluru (RCB) created history in the Indian Premier League (IPL) 2026 Qualifier 1 against Gujarat Titans (GT), sealing their spot in a second consecutive final with a clinical 92-run victory on Tuesday.

Riding on captain Rajat Patidar’s blistering, unbeaten 93 off just 33 balls, Bengaluru piled up a colossal 254 for 5 in their 20 overs after being asked to bat first at the scenic Dharamsala stadium. The monumental total surpassed the previous playoff benchmark of 233 for 3, set by GT against Mumbai Indians in 2023, making it the highest-ever score in IPL playoff history. In response, a ruthless RCB bowling assault dismantled the Gujarat Titans batting line-up, bowling them out for 162 in 19.3 overs.

Patidar blitzkrieg anchors historic RCB innings

After GT skipper Shubman Gill won the toss and opted to field, RCB’s top order asserted early dominance by racing to 76 for 1 within the powerplay. Venkatesh Iyer provided a quickfire 19 off seven balls, while Devdutt Padikkal struck 30 off 19 deliveries to set a brisk tempo.

The foundation allowed Virat Kohli to maintain the middle-order momentum with a fluent 43 off 25 balls. With this knock, Kohli carved out another historic milestone, becoming the first player in IPL history to accumulate over 600 runs in four consecutive seasons. Jason Holder briefly checked RCB’s charge by removing both Kohli and Padikkal in the 10th over to leave them at 99 for 3.

However, skipper Rajat Patidar took complete control from there on. Surviving two dropped catches early on, Patidar launched a brutal counter-attack, smashing five fours and nine towering sixes at an astonishing strike rate of 281.81. He combined forces with Krunal Pandya, who played a crucial anchoring role with 43 off 28 balls, putting together a blistering 90-run partnership. Patidar turned particularly merciless in the death overs, hammering a massive over from Kulwant Khejroliya as RCB finished their death overs on an absolute high.

Gujarat Titans collapse under scoreboard pressure

Faced with a steep mountain to climb, the Gujarat Titans chase imploded right from the start, losing five wickets inside the powerplay against a lethal pace battery. Openers Sai Sudharsan and skipper Shubman Gill were dismissed in the third and fourth overs respectively.

Sudharsan, the tournament’s leading run-scorer, suffered a bizarre and unfortunate dismissal when his bat slipped during a cut shot, knocking back his own stumps to be out hit-wicket off Jacob Duffy. Gill followed shortly after, cleaned up by an excellent delivery from Bhuvneshwar Kumar.

Jos Buttler offered a brief, aggressive resistance by hitting four boundaries and two sixes in a quick 29, but Australian pacer Josh Hazlewood exacted quick revenge by clean-bowling him in the fifth over. From a precarious position, the Titans slipped further as Jacob Duffy tore through the middle order, dismissing Washington Sundar and Rashid Khan.

Rahul Tewatia was the lone warrior for the Titans, waging a solitary battle to smash a fighting 68. His aggressive hitting brought up the team’s hundred in the 13th over and dragged the side past the 150-mark. However, the target proved far too distant. Krunal Pandya claimed the final wicket in the final over, dismissing GT’s tailender Mohammed Siraj—who was caught by Tim David—to bundle out GT for 162, securing the second-largest victory margin in IPL playoff history for RCB.

While RCB marches straight into the grand finale with ultimate momentum, Gujarat Titans remain alive in the tournament. They will get another opportunity to reach the final when they play the winner of the Eliminator clash between Sunrisers Hyderabad and Rajasthan Royals in Qualifier 2.

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