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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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Delhi deploys 25,000 personnel, installs CCTV cameras ahead of CJP march

More than 25,000 police and paramilitary personnel have been deployed in Delhi ahead of the CJP’s planned protest march at Connaught Place. Authorities have also imposed restrictions and stepped up CCTV surveillance.

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Delhi has stepped up security ahead of a planned protest march by the Cockroach Janta Party (CJP), with more than 25,000 police and paramilitary personnel deployed and additional surveillance measures introduced in parts of the national capital.

The planned “Lehra Do Tiranga” march is scheduled to take place at Central Park in Connaught Place on Friday, October 16. Authorities have also imposed prohibitory orders in Connaught Place and surrounding areas as part of the security arrangements.

Security tightened across Connaught Place

The security arrangements include the deployment of police and paramilitary personnel, along with the installation of additional CCTV cameras at Central Park and Rajiv Chowk Metro Station.

Prohibitory orders have been imposed under Section 163 of the Bharatiya Nagarik Suraksha Sanhita (BNSS) in Connaught Place and nearby areas. Central Park is also scheduled to remain closed for two days, with authorities advising the public to avoid the area during the arrangements.

A high-level meeting chaired by Delhi Police Commissioner Anurag Kumar, attended by senior police officers, was held on Thursday to review preparations ahead of the planned demonstration.

Why CJP is planning the march

The CJP has called the march to protest the arrest of its leaders Saurav Das and Ashutosh Ranka and to demand the resignation of Chief Election Commissioner Gyanesh Kumar over alleged irregularities in voter rolls.

The party’s protest is centred on its allegations concerning the electoral roll revision process. These are the protesters’ claims and should not be treated as independently established findings.

With Jantar Mantar no longer designated as a protest site, Central Park in Connaught Place has emerged as the proposed location for the fresh demonstration. The protest has also received support from the Aam Aadmi Party and the All India Students’ Association, according to the report.

Traders raise concerns over business disruptions

The heightened security measures have also prompted concerns among traders in the area.

Traders at Palika Bazaar have expressed concern about disruptions during the festive season, pointing to losses associated with previous protests. The concerns reflect the potential impact of repeated demonstrations and security restrictions on commercial activity in central Delhi.

Delhi Police has said it will facilitate peaceful demonstrators selectively while maintaining public order and protecting property.

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Mallikarjun Kharge’s ‘Your Friends’ jab at Rahul Gandhi over congress exits

Congress president Mallikarjun Kharge took a dig at Rahul Gandhi after the Leader of the Opposition reportedly described former party leaders Jyotiraditya Scindia and Ghulam Nabi Azad as among those who had left the Congress.

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Congress president Mallikarjun Kharge made a pointed remark about former Congress leaders after Rahul Gandhi reportedly described some of those who left the party as people who had been driven by personal interests or fear. The exchange took place during an informal interaction involving young Congress workers, according to a report published on October 15.

Rahul Gandhi, the Leader of the Opposition in the Lok Sabha, reportedly referred to former Congress leaders Jyotiraditya Scindia and Ghulam Nabi Azad while discussing people who had left the party. Kharge responded with a quip that drew attention to Rahul Gandhi’s earlier association with the leaders.

What Rahul Gandhi said about leaders who left Congress

During the interaction, Rahul Gandhi reportedly said that the Congress was now left with committed workers, describing those who remained in the party as ‘babbar sher’ or lions. He alleged that people who were greedy or afraid had left, citing Scindia and Azad as examples.

His reported remarks referred to people who, he suggested, had left because of the attraction of positions and security or fear of investigative agencies such as the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI).

These were Rahul Gandhi’s political characterisations of the leaders who left the Congress, rather than independently established explanations for their departures.

Kharge’s response to Rahul Gandhi

Reacting to Rahul Gandhi’s account, Kharge remarked, “They were all your friends.”

The comment referred to the association Rahul Gandhi had previously shared with some of the leaders who later left the Congress. Rahul Gandhi responded by saying that his sister, Priyanka Gandhi Vadra, was present and knew that Scindia was not his friend.

He subsequently reflected on the difficulty of identifying friends and opponents in politics, saying that people who appear to be friends may not necessarily be so, and the reverse may also be true.

Why Jyotiraditya Scindia and Ghulam Nabi Azad were mentioned

Jyotiraditya Scindia left the Congress in 2020 and joined the Bharatiya Janata Party (BJP). His departure was followed by a political crisis in Madhya Pradesh that resulted in the fall of the Congress government led by Kamal Nath.

Ghulam Nabi Azad, a veteran Congress leader, resigned from the party in August 2022. In his resignation letter, he criticised Rahul Gandhi’s leadership and the functioning of the party’s internal decision-making process.

Both leaders subsequently became prominent examples in political discussions about senior figures leaving the Congress, although their reasons and circumstances differed.

Rahul Gandhi’s message to young Congress workers

The interaction also focused on protests and political mobilisation. Rahul Gandhi reportedly told young Congress workers that demonstrations and struggles were part of their political training and encouraged them to explore new and creative ways of protesting.

He also suggested holding protests at Jantar Mantar, according to the report.

Congress president Kharge and Priyanka Gandhi Vadra were present during the interaction. Rahul Gandhi also claimed that the government led by Prime Minister Narendra Modi was dependent on the next eight to 10 months, though the report did not establish this as an independently verified assessment.

The exchange between Kharge and Rahul Gandhi offered a glimpse into the Congress leadership’s informal discussions, while bringing the departures of Scindia and Azad back into the political conversation.

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Delhi Police offers 11-person limit for CJP’s Connaught Place protest

Delhi Police has offered to facilitate a group of 11 people at Central Park in Connaught Place for the Cockroach Janata Party’s October 16 protest, while warning that violations of prohibitory orders could invite legal action.

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CJP protest to continue

Delhi Police has proposed allowing a group of 11 people to carry the national flag and sing the national anthem at Central Park in Connaught Place on October 16, ahead of a protest called by the Cockroach Janata Party (CJP) over alleged electoral fraud.

The police said it could facilitate the group at a suitable place in the park, while appealing to the public not to join the proposed gathering in large numbers. The offer comes amid prohibitory orders in Connaught Place and adjoining areas under Section 163 of the Bharatiya Nagarik Suraksha Sanhita (BNSS).

CJP founder Abhijeet Dipke has called on people to assemble at Central Park at 5 pm on Friday with the national flag. The proposed demonstration, named “Lehra Do Tiranga”, follows the detention of CJP members Saurav Das and Ashutosh Ranka during an earlier protest.

Why Delhi Police proposed limiting the gathering

In its statement, Delhi Police cited the prevailing security and law-and-order situation in the area. It also referred to information from the New Delhi Municipal Council (NDMC) that Central Park would remain closed on October 16 and 17 for administrative reasons.

Deputy Commissioner of Police Neha Yadav said the NDMC had informed the police about the closure and had asked that no gathering be allowed near the park.

The police also cited representations from trader and market associations in Connaught Place and surrounding areas. According to the police, the associations had raised concerns about unlawful assemblies and their impact on businesses, particularly during the festive season.

Police warned that violations of Section 163 BNSS would invite appropriate legal action. It also stressed that the national flag must be displayed and carried, and the national anthem sung, in the prescribed manner with due respect and dignity.

Delhi High Court declines to stop CJP protest

The proposed gathering reached the Delhi High Court after a vendor sought intervention over concerns about disruption to businesses and public movement in Connaught Place.

On Thursday, the court declined to restrain the CJP from holding the protest. It recorded the police’s assurance that all possible measures under the law would be taken to regulate the gathering and maintain peace.

The petition was filed by a vendor at Palika Bazar in Connaught Place, who raised concerns about the potential impact of the demonstration on traders and others working in the area.

Additional Solicitor General Chetan Sharma, appearing for the authorities, told the court that steps had already been taken to regulate the proposed protest.

CJP’s protest call follows detention of party members

Dipke’s October 16 protest call follows earlier demonstrations over alleged electoral fraud. CJP members Saurav Das and Ashutosh Ranka are in jail on trespass charges after raising the national flag at Jantar Mantar earlier this week, according to the report.

The party has been protesting over alleged electoral fraud and has raised questions about the Election Commission.

Dipke has urged people to gather at Central Park with the national flag, arguing that raising the Tricolour should not be treated as a crime.

The police’s proposal to facilitate a group of 11 people came as the authorities sought to prevent a larger gathering at the site. The CJP’s response to the police’s offer was still awaited in the report published on October 15.

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