Monsoon Session Updates: The discussion over budget is expected to start in the second half of the day.
New Delhi:
Lok Sabha and Rajya Sabha will hold a discussion on Union Budget today, day after Finance Minister Nirmala Sitharaman presented the Union Budget in Parliament.
A general discussion on the budget for the Union Territory of Jammu and Kashmir for the fiscal year 2024-25 will be also held in the Rajya Sabha today.
The discussion is crucial as both the budgets shape the financial direction of the country and the Union Territory, respectively.
Here are the live updates on Monsoon Session of Parliament:
INDIA parties’ leaders protest against ‘discriminatory’ Union Budget 2024, in Parliament
#WATCH | Delhi | INDIA parties’ leaders protest against ‘discriminatory’ Union Budget 2024, in Parliament pic.twitter.com/qTJkyiePIE
– ANI (@ANI) July 24, 2024
Union Home Minister Amit Shah reaches Parliament.
The first budget of the third term of Narendra Modi government bore a clear imprint of the recent Lok Sabha election, in which the BJP failed to gain majority on its own and had to depend on allies to form government. The reaction went beyond the special packages for Nitish Kumar’s Bihar and Chandrababu Naidu’s Andhra Pradesh – a compensatory gesture for the blocked special category status that both states had demanded.
The biggest focus of this budget was employment for the country’s young people — across all sectors and including the opportunity for apprenticeship in private companies. The government is also providing a month’s salary upto ₹ 15,000 to the new recruits through Direct Benefit Transfer.
The deal is sweetened for employers with subsidy on their share of Provident Fund Payments.
Congress’ Mallikarjun Kharge hails 1991 budget by Manmohan Singh, stresses on the need for middle class
Emphasizing the necessity for a budget that addresses the needs of the middle class and the underprivileged, Congress President Mallikarjun Kharge praised the 1991 budget presented by former Finance Minister Manmohan Singh, noting that it spurred India’s growth trajectory.
“July 1991 marked a watershed moment in India’s history, as the Liberalisation Budget, spearheaded by then Prime Minister P.V.Narasimha Rao and Finance Minister Dr. Manmohan Singh, ushered in a new era of economic reforms. This visionary move revolutionised the country, empowering the middle class and uplifting millions from poverty and marginalisation. The Congress party takes immense pride in this groundbreaking achievement, which catalysed India’s growth trajectory and continues to inspire progress and prosperity,” Congress leader Mallikarjun Kharge wrote in a post on X.
Rajya Sabha to hold general discussion on Union Budget, Jammu and Kashmir Budget
A general discussion on the Union Budget and the budget for the Union Territory of Jammu and Kashmir for the fiscal year 2024-25 will be held in the Rajya Sabha later on Wednesday.
Finance Minister Nirmala Sitharaman presented both the Union Budget and the Jammu and Kashmir Budget in the House on July 23. The discussion is crucial as both the budgets shape the financial direction of the country and the Union Territory, respectively.
The Union Budget outlines the government’s revenue and expenditure plans for the upcoming fiscal year, while the budget for the Union Territory of Jammu and Kashmir is a significant event considering the developmental needs.
As per the list of businesses of the Rajya Sabha, the discussion on these two budgets will be convened later in the day.
The discussion over these two budgets is expected to start in the second half of the day.
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