On Thursday, the money management firm INDmoney said that investors will now be able to instantly withdraw money from their stock trading accounts on the site using UPI.

By guaranteeing real-time transaction settlements, the feature increases liquidity by allowing customers to withdraw their money into savings accounts instantaneously, even if they are trading that same day. This solves a major issue for stock investors.

Investors can take out as much as Rs 1 lakh on the same day thanks to this facility. Regardless of their trading activity, investors will receive quick withdrawals into their bank accounts.

“Instant Withdrawals aligns with our commitment to simplifying financial management and ensuring our users have immediate access to their funds when they need it the most,” said Ashish Kashyap, Founder of INDmoney.

On trading days, the “Instant Withdrawal” service is first made available from 8 a.m. to 5 p.m. The business intends to expand this service to a 24-hour operation in the upcoming months.

Zerodha, an online brokerage platform, said in May that users would be able to instantaneously withdraw up to Rs 1 lakh per day, free of charge, between 9 a.m. and 4 p.m.

The government has been pushing UPI as a platform for international payments. In an effort to draw in Indian clients, businesses in the United Arab Emirates (UAE) are now taking payments via UPI in rupees.

One of the largest retailers in the United Arab Emirates, Lulu, has begun allowing its patrons to pay with UPI at all of its locations.

In the UAE, Point of Sale (POS) devices allow Indian nationals and residents to conveniently make payments using QR codes.

The number of Indian tourists visiting the Gulf Cooperation Council (GCC) is projected by the NPCI to reach 98 lakh by 2024. It is estimated that 53 lakh Indians will travel to the UAE alone.

Nepal, Sri Lanka, Mauritius, the United Arab Emirates, Singapore, France, and Bhutan all formally accept UPI.

In July, UPI-based transactions increased by 35% YoY (year over year), totaling Rs 20.64 lakh crore as opposed to Rs 20.07 lakh crore.

The horror comedy film ‘Stree 2’, starring Rajkummar Rao and Shraddha Kapoor, was released on August 15 by its makers. The creators took to social media and released a short, eerie movie with the word ‘Stree’ written in Hindi and red font. The message reads: “Fir se! #Stree2 in cinemas on this Independence Day.” Catch the #Stree2 teaser exclusively in cinemas with #Munjya starting today.”

The film sees the return of the successful horror comedy franchise ‘Stree’. Amar Kaushik directs, and Dinesh Vijan produces under the banners of Maddock Films and Jio Studios.The film also stars Pankaj Tripathi, Abhishek Banerjee, Aparshakti Khurana, and Varun Dhawan (in a cameo as ‘Bhediya’), with Tamannaah Bhatia making a special appearance.

Shraddha Kapoor reveals a new poster for ‘Stree 2’ that features Stree’s braid. Actress Shraddha Kapoor, who is excited for the premiere of her next horror-comedy flick ‘Stree 2′, unveiled a new poster on Tuesday. The poster depicts a hand clutching a braid in a firm grip, which is an important part in the film’s story.

Shraddha’s character hinted at her identity in the first part of the film, which was released in 2018, by wearing the Stree (the ghost) braid, which piqued viewers’ interest and left them wondering if she was a ghost. Shraddha said in the caption, “Ek badi suchna – O Stree aa rahi hai in barely two days. The #Stree2 trailer will be released in two days! The legend returns on Independence Day, August 15, 2024.”
Also She added on his status as “STREE 2 aa gayi hai theaters mein”.

“Aatank jab Chanderi par chhaya, tab sabko ek hi nara yaad aaya, O Stree Raksha Karna!” ‘Stree’, which was directed by debutant Amar Kaushik, also starred Rajkummar Rao, Flora Saini, Pankaj Tripathi, Aparshakti Khurana, and Abhishek Banerjee.

The plot is based on Karnataka’s urban legend Nale Ba (“Come Tomorrow”). Rajkummar, who played a tailor in ‘Stree’, learned to sew as part of his character preparation.

“Stree” is regarded as one of the best horror-comedy films in Hindi cinema, laying the groundwork for a supernatural realm. Other films in this universe are ‘Roohi’, ‘Bhediya’, and ‘Munjya’. ‘Stree 2’ will expand the cosmos even further. In a week, it grossed over 400 crore at the box office.

India’s captain Rohit Sharma won the ‘Men’s International Cricketer of the Year’ title, while former head coach Rahul Dravid received the ‘Lifetime Achievement title’ at the Ceat Cricket Rating Awards 2023-24 on Wednesday. India’s batting veteran Virat Kohli was crowned ‘Men’s ODI Batter of the Year,’ while Mohammed Shami was voted ‘ODI Bowler of the Year’. Shami’s amazing performance in the 2023 ODI World Cup, where he took the most wickets (24).

Yashasvi Jaiswal, a young sensation who scored 712 runs against England in the five-Test series earlier this year, was named the ‘Men’s Test Batter of the Year’. Jaiswal’s rise in Test cricket has been spectacular, with his outstanding performances earning much praise.

Ravichandran Ashwin, a veteran off-spinner, was voted the ‘Men’s Test Bowler of the Year’.

Jay Shah, the BCCI secretary, received the ‘Award for Excellence in Sports Administration’ in recognition of his contributions to Indian cricket.

Tamil Nadu skipper R Sai Kishore, who guided his team to the Ranji Trophy final last season, has been crowned the ‘Domestic Cricketer of the Year’.

New Zealand’s Tim Southee was named ‘Men’s T20I Bowler of the Year’, while England’s Phil Salt was named ‘Best Batter of the Year’ in the T20 format.

Harmanpreet Kaur, captain of India’s women’s team, was given with a souvenir for leading the country to the most T20I matches in history.

Her deputy, Smriti Mandhana, was crowned ‘Women’s Indian Batter of the Year’, while Deepti Sharma was chosen ‘Indian Bowler of the Year’.

Shafali Verma was presented with a memento for her incredible achievement of achieving the fastest double century in women’s Test cricket, which she completed in just 194 balls against South Africa in the Chennai Test earlier this year.

Shreyas Iyer, who guided the Kolkata Knight Riders to their third IPL triumph earlier this year, was awarded a memento for ‘Outstanding Leadership’.

A study conducted in the United States on Friday found that children who spend too much time on social media and technology may find it more difficult to build meaningful relationships. Based on a study of 1,146 parents, the results revealed that parents are worried about their kids’ excessive use of technology (50%) and bullying (30%) as well as the pandemic’s societal effects (22%). Approximately 19% of parents claim that their child’s inability to fit in at school is due to differences in their race, ethnicity, culture, financial situation, or gender identity.

“Connections foster a sense of belonging, which is essential for academic success and overall well-being,” said Dr. Ariana Hoet, executive clinical director of The Kids Mental Health Foundation and a paediatric psychologist at Nationwide Children’s Hospital.

“While technology has its pros and cons, parents should be mindful of warning signs that indicate their child’s tech usage might be affecting their real-world social interactions,” Hoet added.

Parents should look out for symptoms such as losing track of time, becoming engrossed in electronics, withdrawing from social interactions, being irritable, negative impacts on physical health, and adjustments in social relationships or academic achievement, according to Hoet.

These markers can assist parents in determining whether their child’s excessive screen use is harming their social interactions.

The poll also reveals other worries about relationships in the classroom, including fitting in (14%), making new friends in class (17%), experiencing bullying or exclusion (13%), and making friends in extracurricular activities and sports (5%).

Hoet emphasized the value of giving kids from underrepresented or marginalized groups a sense of community.

She advised parents and other caregivers to look for mentors who can serve as positive role models, locate environments where their child may feel comfortable, and follow up with their child on a regular basis to address any concerns about social interactions and internet experiences.

According to Hoet, “parents and teachers can play a significant role in fostering a sense of belonging.” However, it’s crucial to keep in mind that immigrant parents can find this more difficult because they may not be as familiar with the local customs and educational system.

Yashasvi Jaiswal’s smashing (30 off 15) and Hardik Pandya’s electrifying (22 off 9) helped India win the second T20I by seven wickets using the Duckworth-Lewis-Stern (DLS) method and take a commanding 2-0 lead in the three-match series against Sri Lanka at Pallekele International Cricket Stadium on Sunday. Chasing a revised goal of 78 runs in 8 overs, India crossed the line with nine balls remaining, clinching a comfortable win.

India won the toss and opted to bowl first, allowing Sri Lanka to dominate the opening half of their innings, accumulating 80 runs for the loss of only two wickets.

However, the Indian bowlers made a great recovery, restricting the hosts to 161/9 in their allotted 20 overs. Kusal Perera top-scored for Sri Lanka with a brisk 53 off 34 balls.

Ravi Bishnoi emerged as India’s best bowler, claiming three wickets for 26 runs. Axar Patel, who bowled the final over, finished with 2-30, while Arshdeep Singh and Hardik Pandya each took two wickets, demonstrating a balanced bowling performance.

The game took a dramatic turn when rain stopped India’s pursuit after only three balls. When play restarted, India faced a revised target of 78 runs from 8 overs.

Dasun Shanaka of Sri Lanka opened the bowling for the abbreviated game, allowing 10 runs in his first over. Maheesh Theekshana made an early breakthrough by dismissing Sanju Samson, who replaced an injured Shubman Gill, for a golden duck. However, captain Suryakumar Yadav swiftly gained control, attacking Theekshana and hitting three boundaries in his second over.

Suryakumar hit a quick 26 from 12 balls, laying the groundwork for the chase. Yashasvi Jaiswal provided solid support with 30 off 15 deliveries before being removed. Hardik Pandya then stepped in to finish the job, scoring the winning runs for India. Despite Theekshana, Matheesha Pathirana, and Wanindu Hasaranga taking one wicket each, it was unable to prevent India from winning.

Brief Scores:

Sri Lanka 161/9 in 20 overs (Kusal Perera 53, Pathum Nissanka 32; Ravi Bishnoi 3-26, Hardik Pandya 2-23, Arshdeep Singh 2-24, Axar Patel 2-30) lost to India 81/3 in 6.3 overs (Yashasvi Jaiswal 30, Suryakumar Yadav 26, Hardik Pandya 22 not out; Maheesh Theekshana 1-16) by seven wickets (DLS method).

Manu Bhaker made history on Sunday when she became the first Indian woman to win an Olympic medal in shooting in Paris. She earned a bronze medal in the 10m Air Pistol event, capping India’s 12-year wait for an Olympic medal in shooting.

After rewriting history, Manu dedicated her medal to the nation and stated that it is “for all” while discussing her preparation for the final.

PM Modi took to X, formerly Twitter, to congratulate Bhaker on becoming the first woman to win a medal in the shooting competition.. “A historic medal! Well done, @realmanubhaker, for winning India’s FIRST medal at #ParisOlympics2024! Congrats for the Bronze,” Modi said in a post on X.

“This success is even more special as she becomes the first woman to win a medal in shooting for India. An incredible achievement!” PM Modi added.

“I was looking forward to the finals as soon as the qualification round was complete, and I was like, ‘I didn’t know how things were going to go. I’ve worked so hard, and I’m not sure what will happen to me tomorrow. How difficult will it be tomorrow? Because I know everyone from India is here, and I’m overjoyed that so many people came to cheer for me. This medal is for everyone, not just me,” Manu said after winning the medal.

“It’s a teamwork always. And I’m really grateful that I was the medium to win this medal for India,” she added.

“To be honest, I wish India wins as many medals as possible since we have worked so hard to get this far. It is only in the present moment that we must exert all of our efforts while leaving the results to God. I don’t see it as an opportunity or anything. It’s as if India hasn’t won many medals yet. It’s a great sensation. I can’t convey how amazing I feel, but I still have a lot of matches to shoot. I’ll have another tomorrow, and then another the next day,” the shooter said.

Manu also praised her family, friends, and coach Jaspal Rana for their support throughout her journey. In her first reaction following her first victory, Manu Bhaker stated that having a strong belief in herself helped her pursue her objectives.

“Thank you so much for sticking with me during my difficult times; I truly owe it to all of you that I am standing here strong. I try my hardest in every single event, putting out my best effort every time since you make my life so easy. It’s not only the people. It’s not only my family and friends, but also my coach. Jaspal Sir..,” she concluded.

“I put in a lot of effort. This is a bronze medal, but I’m glad I might have won one for my nation. I read a lot of the Gita. “As Lord Krishna says, focus on karma, not the outcome of karma,” Bhaker told the reporters after earning the bronze medal.

“After Tokyo, I was disappointed, but I came back stronger. When asked what her strong performance in Paris meant for her, she answered, “Let the past be the past.”

Harshitha Samarawickrama hit 69 not out after captain Chamari Athapaththu hit a brilliant half-century (61 off 43) to help Sri Lanka Women defeat seven-time champions Indian Women by eight wickets in the final to win their first Women’s Asia Cup title on Sunday at the Rangiri Dambulla International Stadium.

After India reached 165/6 with to a half-century by opener Smriti Mandhana (60 off 47) and a cameo by Richa Ghosh (30 off 14), the hosts raced to 167/2 in 18.4 overs thanks to excellent efforts by Samarawickrama and Athapaththu.

Sri Lanka’s run chase began on a shaky note as Vishmi Gunaratne was run out early. However, the veteran Chamari Athapaththu and Harshitha Samarawickrama kept the ship afloat with an important 87-run partnership for the second wicket. Athapaththu, who scored over 300 runs in the competition, delivered a captain’s knock, hitting her half-century in just 32 balls. Her aggressive innings of 61 off 43 balls, which featured nine fours and two sixes, paved the way for the victorious chase.

Deepti Sharma gave India the lead by bowling Athapaththu around her legs, but the Sri Lankan captain had already established the tone for the game. With 72 runs needed from the last eight overs, Harshitha took charge, scoring an unbroken 69-run knock to lead Sri Lanka to victory. Her cool under pressure was matched by Kavisha Dilhari, who scored 30 off 16 balls to help the hosts reach the mark comfortably with eight balls remaining.

India opted to bat first and struck a good 165/6 in their 20 overs. Smriti Mandhana led the way with a stunning knock of 60 off 47 balls, including 10 fours. Despite setbacks in the middle order, where Uma Chetry and Harmanpreet Kaur failed to capitalize, Jemimah Rodrigues and Richa Ghosh ensured India maintained momentum. Rodrigues scored 29 off 16 balls, while Ghosh’s explosive 30 off 14 balls provided the necessary late surge.

Among the Sri Lankan bowlers, Kavisha Dilhari stood out with figures of 4-0-36-2. Udeshika Prabodhani, Sachini Nisansala, and Chamari Athapaththu all took wickets, keeping India’s formidable batting order under check.

Brief Scores:

India Women 165/6 in 20 overs (Smriti Mandhan 60, Richa Ghosh 30; Kavisha Dilhari 2-36, Sachini Nisansala 1-20) lost to Sri Lanka Women 167/2 in 18.4 overs (Harshitha Samarawickrama 69 not out, Chamari Athapaththu 61; Deepti Sharma 1-30) by eight wickets.

The success story of Raghav Juyal is all about “thodi si mehnat, thoda sa ashirwad.” The “king of slow motion,” Raghav Juyal, rose to prominence not only for his appearances on dance reality shows but also for his impressive acting abilities. He attributes his success to his dedication as well as the blessings and assistance of those around him. Subsequent to charming crowds with his negative job in the film ‘Kill’, Raghav is currently good to go to play a cop in ‘Gyaarah.’

Kritika Kamra, who has appeared in shows like “Kitani Mohabbat Hai” and “Kuch Toh Log Kahenge” and the web series “Tandav,” will play a police officer in the show “Gyaarah Gyaarah.” She described her participation in this show as “a dream come true.”

On the premiere of the series “Gyaarah Gyaarah” took place in Mumbai. Raghav Juyal, Kritika Kamra, Guneet Monga, Dhairya Karwa, and director Umesh Bist attended. Kritika was questioned about her belief in the magic of 11:11 at the press conference, to which she responded, “I believe in it now.” For me, being a part of this show and being here is a dream come true. A wish has been realized as I sit here among such talented people. Coming from where I was, I never would have imagined becoming an actor and being able to do all of this and collaborate with such amazing people from whom I am learning so much. It feels really mysterious.”

Raghav was asked at the press conference, “Thodi si mehnat, thoda sa ashirwad,” how he manages to keep everything in order. It is, in my opinion, the result of a little bit of luck and a little bit of hard work. In addition, I am blessed to have had the support of some amazing people in my life. I consider this is going on a direct result of that.”

“After portraying a morally dubious gangster-like character, I was drawn to playing an upright cop,” Kritika said about her decision to accept the role. The opportunity to learn from talented people was equally important to me. The charming walkie-talkie second in the content enamored me. I was drawn to this position due to the combination of these factors.” A walkie-talkie that comes to life every day at 11:11 p.m. connects two police officers across time in “Gyaarah Gyaarah.” The world around them is forever altered as the two collaborate to solve cases.

“I don’t believe in dwelling on the past,” Raghav added when asked what changes he would make if he could go back in time. I live in the now and try to be present in everything. Also, I wouldn’t want to change anything that has happened to me in the past because everything that is happening to me right now is because of my experiences in the past.

“Gyaarah Gyaarah,” directed by Umesh Bist, was co-written by Puja Banerjee and Sunjoy Shekhar. It is bankrolled by Karan Johar, Apoorva Mehta, Guneet Monga Kapoor, and Achin Jain. Featuring Raghav Juyal, Kritika Kamra and Dhairya Karwa, it will deliver on Zee5 on August 9.

Neeraj Chopra’s first Olympic gold medal in athletics from Tokyo 2020 is the one major difference that has occurred: athletes now dare to dream and, more crucially, are confidence in their ability to win them. Chopra’s gold medal in the men’s javelin throw, the first ever won by an Indian athlete in the Olympics, spurred other athletes to start aiming high, which led to the transformation of Indian athletics.

With a renewed sense of self-assurance, Indian athletes will head to the Olympic Games in Paris with the goal of building on the success of Chopra’s maiden gold medal and winning additional medals to realize their objective of making their 1.4 billion-person nation a formidable force in the world of athletics.

Many people are likely to write off Indian athletes’ aspirations to dominate track and field events at the highest level as unrealistic, given that they have only won one gold medal in more than 100 years of Olympic competition – the two silver medals won by Englishman Norman Pritchard in 1900 in Paris are the only medals that Indian athletes have won.

Adille Sumariwalla and other supporters of Indian athletics, however, contend that the country has advanced significantly in athletics since Tokyo. This was never more evident than in the 2023 World Championship in Budapest, where three Indians were among the top 10 in the men’s javelin throw. Additionally, it’s clear from the fact that the athletics team is the largest in the Indian Contingent.

According to Sumariwalla, the Indian team would perform with noticeable and noticeable progress even if they don’t take home any medals from the Olympics in Paris. There will be the greatest number of athletes representing the nation at the quadrennial Games -29 – at the Olympic Games in Paris.

And leading India’s campaign in Paris will be none other than Neeraj Chopra, who is expected to win both the gold and silver medals at the Olympics. Chopra has won gold in the Diamond League Final in 2023, silver and gold in the World Championships, and gold in the Asian Games in Hangzhou since the Tokyo Olympics.

However, the 26-year-old Chopra has also battled injuries that have slowed his development and forced him to bide his time till the moment he would surpass the 90-meter mark. Chopra threw his season’s best of 88.88 meters in Hangzhou, China, in October 2023, after setting a personal best of 89.94 meters in Stockholm in 2022. After recovering from a minor illness, he traveled to Paris and competed solely in the Paavo Nurmi Games 2024 in Turku, Finland, where he took home the gold with a moderate throw of 85.97 meters.

In addition to Chopra, Kishore Kumar Jena will be a big hope for India in the men’s javelin throw. With a personal best of 87.54 meters, the athlete from Odisha finished second behind Chopra in Hangzhou, earning a silver medal.

Along with Asian record-holder Tajinderpal Singh Toor, the shot putter, and the men’s 4x400m relay team, who had given the United States a run for their money in the heats at the World Relays 2024 in the Bahamas, Avinash Sable, the national record holder in men’s 3000m steeplechase, is another athlete from whom the nation has high hopes.

Given that four race walkers – two in each of the men’s and women’s categories—have qualified for both the men’s and women’s divisions, India is also anticipating strong results from these athletes.

The current budget marks Finance Minister Sitharaman’s seventh consecutive year in office and the Modi government’s thirteenth consecutive year in office since 2014. In addition, she breaks the record set by former Prime Minister Morarji Desai, who presented six straight budget speeches from 1959 to 1964, by becoming the first finance minister to deliver seven straight budget addresses.

Tuesday, President Droupadi Murmu and Finance Minister Nirmala Sitharaman met at Rashtrapati Bhawan before the latter’s presentation of the Union Budget in Parliament. The President gave her “dahi-cheeni,” an Indian custom in which elders bless their family members with good fortune before they take on significant undertakings.

FM Sitharaman and her group took a typical group photo outside the Finance Ministry earlier in the day. Her saree was off-white in color with a magenta border, and she wore the red ‘bahi-khata’ tablet with the national emblem.

Some of the Highlights of Union Budget 2024-25

Budget significantly boosts the farm industry

In the Budget 2024–25, Finance Minister Niramala Sitharaman planned a spending of Rs 1.52 lakh crore to increase resilience and productivity in the agriculture and related industries.

Utilizing digital public infrastructure, ‘atmanirbharta’ for oil seeds, large-scale vegetable production clusters, and financial support for the network of Nucleus Breeding Centers for shrimp broodstock are some of the strategies revealed to improve productivity and resilience in the agriculture industry.

Referring to “Annadata” (farmers) as one of the four main castes that require attention, the minister stated that the government had raised Minimum Support Prices for all key crops a month prior, fulfilling its pledge to provide at least a 50% profit margin over costs.

Encouraged by the pilot project’s success, the federal government and the states will work together to expedite the adoption of digital public infrastructure (DPI) in agriculture, which will encompass farmers’ holdings and their operations in three years.

According to the Minister of Finance, 400 districts will participate in a digital crop survey for Kharif this year utilizing DPI. The farmer and land registries would contain information on six crore farmers and their holdings. Five states will allow the issuing of Kisan Credit Cards based on Jan Samarth.

According to Sitharaman, a plan is in place to help oil seeds including mustard, peanut, sesame, soybean, and sunflower reach “atmanirbharta.” The government will improve their marketing, warehousing, and production.

Additionally, she stated that large-scale vegetable production clusters will be established in closer proximity to important centers of consumption. For vegetable supply chains, including for product collection, storage, and marketing, the government will support Farmer-Producer Organizations, cooperatives, and start-ups. She said that funding will be made available to establish a network of Nucleus Breeding Centers for shrimp broodstocks. NABARD will assist the financing of shrimp growing, processing, and export.

She said that farmers will be able to cultivate an additional 109 new, high-yielding, climate-resilient varieties of 32 field and horticultural crops. The Minister of Finance additionally declared that one crore farmers nationwide will be introduced to natural farming within the next two years, with certification and branding providing support.

The budget increases defense spending by 4.79 percent to Rs 6.22 lakh crore.

The Ministry of Defence (MoD) has received the largest allocation of all the ministries in the Union Budget 2024–25, totaling Rs 6.22 lakh crore. The funding is intended to support “Aatmanirbharta” in defense technology and production, provide the armed services with cutting-edge equipment and weaponry, and open up employment prospects for young people.

The government has allocated an additional expenditure of Rs 400 crore on innovation in defense through the Acing Development of Innovative Technologies with iDEX (ADITI) scheme, in the Union Budget, which Finance Minister Nirmala Sitharaman presented on Monday. This is in addition to the allocation made to the MoD during the interim Budget.

Through the program, the Defence Ministry can collaborate with entrepreneurs, MSMEs, and creatives to create Def-Tech solutions and provide the Indian military with cutting-edge, homegrown technology. The defense forces’ absolute budgetary allocation for FY 2024–25 under the capital head is Rs 1.72 lakh crore, which is 9.40 percent more than the FY 2023–24 Revised Allocation and 20.33 percent more than the actual expenditure for FY 2022–23.

According to the Defense Ministry, the increased budgetary allocation will satisfy the annual cash outlay requirement for planned capital acquisitions that will outfit the armed forces with cutting-edge specialized technology, deadly weaponry, fighter aircraft, ships, submarines, platforms, unmanned aerial vehicles, drones, specialized vehicles, etc. He said that it will significantly contribute to India’s economy growing to $5 trillion by 2027.

In addition, Rajnath Singh expressed confidence that the Rs 1,72,000 crore capital expenditure would enhance the military’s capabilities. He also expressed hope that the Rs 1,05,518.43 crore set aside for domestic capital procurement would boost “Aatmanibharta” in the defense industry.

The Center maintains capex at Rs 11.11 lakh crore, or 3.4 percent of GDP

The Interim Budget from February set India’s FY25 capital expenditure at Rs 11.11 lakh crore, which Finance Minister Nirmala Sitharaman maintained on Tuesday. This is more than the revised estimate of Rs 9.5 lakh crore from the previous year. According to the Finance Minister, the government will ultimately spend 3.4% of the budget on capital expenditures (capex), which is nearly twice as much as it did five years ago and 3.2% of the budget this year.

The government spent 2.8 times as much on capital projects in FY24 as it did in FY20, totaling Rs 9.5 lakh crore, a YoY increase of 28.2%. According to the Economic Survey, private enterprises increased their capital spending in the fiscal year that ended in March of this year when compared to FY23. The increasing proportion of Gross Fixed Capital Formation (GFCF) to nominal GDP suggests that GFCF is still a significant economic engine.

FM Sitharaman gives Andhra Rs. 15,000 crore and gives Bihar two expressways

In addition to announcing historic projects and funding allocations in Bihar and Andhra Pradesh, the states whose ruling parties are allies with the BJP at the federal level, Finance Minister Nirmala Sitharaman presented her eighth straight budget on Tuesday. She declared the construction of the Patna-Purnia Expressway and the Buxar-Bhagalpur Expressway as two of Bihar’s main expressways. In the Buxar District, two land bridges spanning the Ganga River will also be built. FM Sitharaman also declared that Bihar will get new sports facilities, medical schools, and airports built.

“We will work with multilateral development agencies to arrange special financial assistance. The Finance Minister stated that further funding will be spent in subsequent years in addition to the Rs 15,000 crore that will be set aside in the current fiscal year. FM Sitharaman added that the Polavaram project is Andhra Pradesh’s lifeblood, and the government is firmly committed to funding its early completion since this will improve the nation’s food security. FM Sitharaman continued, “Grants for underprivileged areas of north-coastal Andhra Pradesh will also be provided.”

Union Budget: Increased Mudra loan limit from Rs 10 lakh to Rs 20 lakh

In addition to raising Mudra loans to Rs 20 lakh from Rs 10 lakh, the government on Tuesday unveiled a number of initiatives aimed at improving the mood of MSMEs and the non-farming business community.
The government’s flagship programme, the Pradhan Mantri Mudra Yojana (PMMY), enables microcredit/loans up to Rs 10 lakh to revenue-generating microenterprises operating in the manufacturing, trading, or service sectors, as well as in industries related to agriculture like dairy, beekeeping, and poultry. Through the program, member lending institutions offer financial support to micro and small businesses that generate revenue from non-farm, non-corporate sources.
The Finance Minister unveiled a credit guarantee program for MSMEs operating in the manufacturing sector, which allows term loans for the acquisition of machinery and offers a range of financing options to support MSMEs in their technological endeavors.

Encouragement of youth empowerment and women’s employment

Among other things, Union Finance Minister Nirmala Sitharaman outlined the government’s plans for youth empowerment when she unveiled her seventh budget on Tuesday. One of the budget’s features is the provision of a month’s salary as a Provident Fund contribution to newly hired employees.
Additionally, youth will be encouraged to apply for internships in 500 well-established companies. The Finance Minister added that the internship programme will also provide a one-time assistance of Rs 6,000 and an internship allowance of Rs 5000. “The program is intended for anyone starting a career in any industry. 210 lakh adolescents will profit from it, according to Nirmala Sitharaman.

The government has announced plans worth over Rs 3 lakh crore to help women and girls

The government on Tuesday pledged more than Rs 3 lakh crore for programmes benefiting women and girls, with a focus on women-led development. During the presentation of her seventh Budget, Union Finance Minister Nirmala Sitharaman declared, “Increasing the participation of women in the workforce will be a priority.”

“This will be facilitated by setting up hostels and creating partnerships to organise women-specific skilling programmes and promotion of market access for women Self Help Group enterprises,” she stated. She stated, “We need to focus on the poor, women, youth and farmers.”

In addition, there was a 218.8% increase in funding for women’s welfare and empowerment between FY14 and FY25.

Angel tax eliminated for entrepreneurs to encourage domestic innovation

The government stated on Tuesday that it will remove the angel tax in an effort to better support local talent and innovation, which is a huge relief for the startup sector. In an effort to promote creativity among startups, the industry has pushed for the rationalization of the Angel Tax by eliminating Section 56(2)(viib). They said that doing away with this provision would “greatly aid in capital formation” for the startup sector.

According to JSA Advocates & Solicitors Partner Raj Ramachandran, the much-awaited change in the Budget 2024 is the elimination of the angel tax. “Since introduction, it has created discomfort and confusion for all players alike, and is certainly one change that will be a welcome one for all,” she said.

As stated in its most recent assessment of the Indian economy, the Finance Ministry stated that over 1.14 lakh startups had so far generated over 12 lakh jobs in India. The new standards did not apply to startups that were registered with the DPIIT. The administration emphasized that more than 80,000 entrepreneurs will profit from the exemption.

Budget provides 4 crore salaried people with income tax relief

With the release of the 2024–25 budget, Finance Minister Nirmala Sitharaman promised a fiscal feast for four crore salaried workers and pensioners. FM Sitharaman made two announcements regarding Personal Income Tax Rates for individuals choosing to use the new tax structure.

First, it is suggested to raise the standard deduction for paid workers from Rs 50,000 to Rs 75,000. In a same vein, it is suggested that pensioners’ family pension deduction be increased from Rs 15,000 to Rs 25,000. The Finance Minister stated that around four crore salaried people and pensioners will benefit from this.

The tax rate structure will be updated in the new tax regime in the following ways:

• 0-3 lakh rupee – Zero
•  3-7 lakh – 5 per cent
• 7-10 lakh – 10 per cent
• 10-12 lakh – 15 per cent
• 12-15 lakh – 20 per cent
• 15 lakh and above – 30 per cent

The Finance Minister declared, “Salaried employees in the new tax regime will save up to Rs 17,500 in income tax.” More than two-thirds have benefited from the new personal income tax regime, according to data that is currently available for the most recent fiscal year, she added.

One crore homes for urban poor are announced by the center

Nirmala Sitharaman, the Union Finance Minister, suggested on Tuesday allocating Rs 2.2 lakh crore for urban housing in addition to a Rs 10 lakh crore interest subsidy program under the popular Pradhan Mantri Awas Yojana (PMAY) initiative. This will strengthen the government’s initiative to provide affordable housing.

In her Budget Speech in Parliament, FM Sitharaman stated, “Housing needs of one crore urban poor and middle-class families to be addressed with an investment of Rs 10 lakh crore, including the Central assistance of Rs 2.2 lakh crore over the next five years.” She also brought up the first Cabinet decision of the Modi 3.0 term, stating that PMAY will enable the construction of three crore more dwellings, of which two crore will be in rural regions (Grameen).

One of the most ambitious programs of the Modi administration is the Pradhan Mantri Awas Yojana (PMAY). In the most recent budget announcement, the Pradhan Mantri Awas Yojana-Urban (PMAY-U) was significantly expanded in terms of allocation.

FM promises to designate ULPIN for all rural land

A number of land-related reforms and action initiatives were announced by FM Nirmala Sitharaman, one of which was the assignment of a Unique Land Parcel Identification Number (ULPIN) to every piece of land in rural areas. As part of the Digital India Land Records Modernization Programme (DILRMP), each land parcel is assigned a 14-digit Unique Land Parcel Identification Number, which is determined by the coordinates of its longitude and latitude.
Georeferenced cadastral maps and thorough surveys are necessary for its allocation.

In order to provide Integrated Land Services to the public and all stakeholders, the Department of Land Resources (DOLR), which is part of the Ministry of Rural Development, claims that ULPIN is a single, reliable source of information about any piece of land or property.

Accurate land accounting and statistics via ULPIN will support the growth of land banks. The Integrated Land Information Management System (ILIMS) will be the end result of it. The DOLR claims that this would enhance disaster preparedness and response activities, ease real estate transfers, and assist in resolving property taxes concerns.

It would also lessen border conflicts and make it possible to determine the eligibility of beneficiaries of schemes that are based on the amount of land possessed. ULPIN would prove to be a significant turning point for the government’s 2022 Geospatial Policy,” the agency continues.

ULPIN has currently been implemented in 29 states, and the Andaman & Nicobar Islands, Puducherry, Telangana, Manipur, and other areas have all participated in pilot testing. Certain union territories (UTs) like Jammu, Ladakh, and Madhya Pradesh and Kashmir are also using ULPIN in Survey of Villages Abadi and Mapping with Improvised Technology in Village Areas (SVAMITVA).

The government will waive customs duties on three more cancer medications

Union Finance Minister Nirmala Sitharaman waived customs duties on three cancer medications at the presentation of the Union Budget 2024, providing a significant respite to cancer patients. Osimertinib, Durvalumab, and Trastuzumab Deruxtecan are the three medications. Those fighting the fatal illness may find their financial burden lessened as a result of the customs duty reduction.

The Union Minister also demanded exemptions from customs taxes for flat panel detectors and X-ray tubes in her eighth budget statement. “I also propose changes in the BCD (Basic Customs Duty), X-ray tubes, and flat panel detectors for use in medical X-ray machines under the phased manufacturing programme to synchronise them with domestic capacity addition,” stated FM Sitharaman.

Customs duty on smartphones and component parts is lowered to 15% by the center; industry optimism

The government said on Tuesday that the existing 20% basic customs tax (BCD) will be reduced to 15% for mobile phones, printed circuit board assemblies (PCBAs), and mobile chargers.
Over the past six years, the Indian mobile phone sector has grown, with its domestic manufacturing of mobile phones increasing threefold and its exports rising about 100fold.

Presenting the Union Budget 2024–2025, Nirmala Sitharaman stated, “I now propose to reduce the BCD on mobile phones, mobile PCBA, and mobile chargers to 15% in the interest of consumers.” India is currently producing 99 percent of its smartphones domestically, having greatly decreased its reliance on imports.

Rs 1.48 lakh crore for youth employment, education, and skill development

For young employment, education, and skill development, the Center has allocated Rs 1.48 lakh crore, which is 30% more than the prior amount of Rs 1.13 lakh crore. Finance Minister Nirmala Sitharaman said, “We particularly focus on employment, skilling, MSMEs, and the middle class in this Budget,” during the Tuesday presentation of the Union Budget 2024–25 in Parliament.

The Finance Minister unveiled a bundle of five programs and initiatives from the Prime Minister, carrying on the subject of the first full-year Budget of the recently elected administration. With a central budget of Rs 2 lakh crore, the package promises to encourage employment, skilling, and other possibilities for 4.1 crore youngsters during a 5-year period.”I have allocated Rs 1.48 lakh crore for education, employment, and skill development this year,” the speaker continued.

Going into more depth about the announcement, Sitharaman said that as part of the Prime Minister’s package, the government will execute the following three “Employment Linked Incentive” programs. According to her, they would be determined by enrollment in the EPFO and will center on supporting employers and employees as well as recognizing first-time workers.

In five years, 20 lakh young people will be skilled, according to the Finance Minister. Additionally, the government would contribute up to Rs 10 lakh toward higher education at local universities.
1,000 Industrial Training Institutes will be updated in a hub-and-spoke configuration as part of the program.