The Morning Standard - July 24, 2024![Add to My Favorites Add to Favorites](/static/icons/filled.svg)
![](/static/icons/sharenew.svg)
The Morning Standard - July 24, 2024![Add to My Favorites Add to Favorites](/static/icons/filled.svg)
![](/static/icons/sharenew.svg)
Go Unlimited with Magzter GOLD
Read The Morning Standard along with 9,000+ other magazines & newspapers with just one subscription View catalog
1 Month $9.99
1 Year$99.99
$8/month
Subscribe only to The Morning Standard
1 Year$356.40 $23.99
Buy this issue $0.99
In this issue
July 24, 2024
No change in allocation for national capital at ₹1,168 crore
THE Union Budget has not increased Delhi's fund allocation for 2024-25 as it made a provision of ₹1,168 crore for the Union Territory of Delhi.
1 min
Coalition compulsions in Andhra, Bihar bonanza
IN a generous display of coalition politics, the first Budget of Modi 3.0 handed out hefty financial packages for Bihar and Andhra Pradesh, ruled by its crucial allies, the Telugu Desam Party (TDP) and the JD (U).
1 min
PATH OF PRUDENCE, NOT POPULISM
WHEN Finance Minister Nirmala Sitharaman on Tuesday rose to present Budget and spelled out the key themes employment, skilling, MSMEs, and the middle class-there was high hope that she would open the purse strings and announce some generous measures for the middle class. It was not to be.
2 mins
SC: No NEET-UG retest as no proof of systemic breach
THE Supreme Court on Tuesday refused to cancel the NEET-UG exam, observing that there is no data to suggest a systemic breach or violation of its sanctity, following two localised leaks of question papers.
1 min
Standard deduction up, tax slab tweaked
THE Union Budget offered some relief for individual taxpayers, though not as much as expected.
![Standard deduction up, tax slab tweaked](https://reseuro.magzter.com/100x125/articles/20402/1775504/u0f5JiiLNjSWB4mLTwtsys/STANDARD-DEDUCTION-UP-TAX-SLAB-TWEAKED.jpg)
1 min
Not even a penny as share in taxes: Atishi
SLAMMING the Union Budget 2024 presented on Tuesday, INDIA bloc partners AAP and Congress said the BJP-led NDA government has dashed the hopes and aspirations of the people of Delhi.
1 min
Chandrawal water plant gets ₹200 cr
THE Chandrawal Water Treatment plant, one of the three water treatment plants through which the city gets its drinking water supply, was allocated ₹200 crore under the Additional Central Assistance for Externally Aided Projects in the Union Budget for 2024-25.
1 min
'Beaten, forced to sing national anthem': HC orders CBI investigation into death of man
THE Delhi High Court has directed the Central Bureau of Investigation (CBI) to take over the investigation into the death of Faizan, a 23-year-old man allegedly beaten by Delhi Police during the 2020 Delhi riots.
!['Beaten, forced to sing national anthem': HC orders CBI investigation into death of man](https://reseuro.magzter.com/100x125/articles/20402/1775504/9aA2FV0ftQ9zL6Q2H6jsys/BEATEN-FORCED-TO-SING-NATIONAL-ANTHEM-HC-ORDERS-CBI-INVESTIGATION-INTO-DEATH-OF-MAN.jpg)
1 min
Jobs, skilling in focus, central varsities get ₹4,000 cr more
UNION Finance Minister Nirmala Sitharaman proposed a ₹15,928 crore budget allocation for central universities, a ₹4,000 crore hike from last year.
1 min
Delhi Police gets ₹11,400 cr, for prison reforms ₹100 cr allotted
DELHI Police was allocated ₹11,400 crore in the Union Budget for the 2024-25 financial year, of which ₹270 crore will be spent on infrastructure development, such as office and residential building projects.
1 min
Stalin to 'boycott' Niti Aayog meet to protest neglect to state
COMING down heavily on the BJPled central government for 'totally ignoring' Tamil Nadu in the union budget for 2024-25, Chief Minister MK Stalin on Tuesday announced that as a mark of protest, he would be boycotting the Niti Ayog meeting on July 27 to be chaired by Prime Minister Narendra Modi.
1 min
Tax share rises 13%, but central transfers hit a historic low
IN financial year 2024-25, Kerala will get ₹24,008.82 crore as its share from union taxes and duties, showed the Union Budget Estimates.
1 min
Union budget pro-development: Majhi
CHIEF Minister Mohan Charan Majhi hailed the Union Budget presented by Finance Minister Nirmala Sitharaman on Tuesday as pro-development and visionary.
1 min
No loan waiver, MSP guarantee; farmers vexed
WHILE farmers have welcomed the budget announcement that one crore farmers will be initiated into natural farming in the next two years, they, however, have expressed their dissatisfaction as there is no announcement on loan waiver or guaranteed minimum support price for their produce.
1 min
'Disappointing & anti-people': Siddaramaiah
CHIEF Minister Siddaramaiah on Tuesday termed the Union Budget \"disappointing\" and \"anti-people\".
1 min
FM coins new acronym-EMPLOYMENT
FINANCE Minister Nirmala Sitharaman on Tuesday emphasized the government's commitment to job creation and youth skilling initiatives by introducing a new acronym 'EMPLOYMENT'.
2 mins
Derivatives, capital gains tax rate hike bring markets down
THE Budget, which otherwise ticked all the boxes despite its heavy political tone and doles, has left stock market investors in disarray as the Finance Minister Nirmala Sitharaman has tweaked the tax rates for market assets-a fivefold increase in the securities transaction tax to 0.1% and a 2.5 percentage points hike in the long term capital gains tax to 12.5%.
1 min
Electronics sector gets biggest PLI allocation
IN the Budget, the finance minister has allocated ₹12,493.02 crore for the Production Linked Incentive (PLI) scheme across different sectors for this financial year.
![Electronics sector gets biggest PLI allocation](https://reseuro.magzter.com/100x125/articles/20402/1775504/thgtqS7D5ioMxDGmyxQsys/ELECTRONICS-SECTOR-GETS-BIGGEST-PLI-ALLOCATION.jpg)
1 min
Govt sets 4.9% deficit target on fiscal correction path
EVEN though political imperatives vastly dominated the first Budget of the PM Modi-led NDA government's third term, Finance Minister Nirmala Sitharaman has walked the talk on her commitment to fiscal prudencemostly due to the whopping 2.11 trillion (2.11 lakh cr) windfall received from the Reserve Bankand has lowered the fiscal deficit target more than anticipated to 4.9% for this year and to 4.5% for the next.
![Govt sets 4.9% deficit target on fiscal correction path](https://reseuro.magzter.com/100x125/articles/20402/1775504/zyso86QIzRknc483zVEsys/GOVT-SETS-49-DEFICIT-TARGET-ON-FISCAL-CORRECTION-PATH.jpg)
2 mins
FM STRIKES BALANCE ON FISCAL PRUDENCE AND SOCIAL DEMANDS
FOR any new government, life actually begins with the first budget.
2 mins
PICKING UP IDEAS FROM THE OTHER SIDE OF AISLE
THE day after the Congress released its election manifesto this April, Prime Minister Narendra Modi said the document had the \"stamp of the Muslim League'.
![PICKING UP IDEAS FROM THE OTHER SIDE OF AISLE](https://reseuro.magzter.com/100x125/articles/20402/1775504/Kg2audDta1721783040250/PICKING-UP-IDEAS-FROM-THE-OTHER-SIDE-OF-AISLE.jpg)
3 mins
THIS BUDGET IS A LONG, ARDUOUS MARCH OF HOPE
The govt skirted minefields of populism and opted for a structural approach on many demands. The moves will be deemed transformative only when they hit the ground
![THIS BUDGET IS A LONG, ARDUOUS MARCH OF HOPE](https://reseuro.magzter.com/100x125/articles/20402/1775504/VkAnGTHDBsBHqzO7eAisys/THIS-BUDGET-IS-A-LONG-ARDUOUS-MARCH-OF-HOPE.jpg)
4 mins
HARRIS IN RACE AGAINST TIME & TRUMP TO BREAK HIGHEST GLASS CEILING
ORN the year the US outlawed discrimination based on race, religion, sex and national origin, Kamala Harris has finally come within touching distance of realising the loftiest American dream-that the child of an immigrant can rise to the highest office.
2 mins
'Kursi Bachao Budget no good to commoner': Rahul ups ante
COMING down heavily on the first Budget presented by the Modi 3.0 government, the Opposition parties termed it a budget driven by political compulsions and claimed that it ignored opposition-ruled states.
1 min
Edu loans up via e-vouchers, UGC budget cut
UNION Finance Minister Nirmala Sitharaman announced an allocation of 1.20 lakh crore for education in the Union Budget for 2024-25.
1 min
Oppn CMs decide to boycott NITI Aayog July 27 meeting
THE Chief Ministers of the Opposition states have decided to boycott the NITI Aayog meeting scheduled for 27th July over the 'discriminatory' Budget.
1 min
Visionary Budget to uplift society: Modi
PRIME Minister Narendra Modi said on Tuesday that the Union Budget was aimed at realizing 'Viksit-Bharat', asserting that the Budget proposals belonged to every section of society with a potential to herald \"better growth and a bright future' in the country.
1 min
MUDRA loan limit hike, credit guarantee scheme for MSMEs
IN their efforts to revitalise the ailing MSME sector, the backbone of the Indian economy and creator of crores of jobs, the NDA government has come up with a slew of reforms.
1 min
E-com export hubs to help small vendors
THE government will set up Ecommerce Export Hubs in publicprivate-partnership model in order to enable MSMEs to sell their products in international markets.
![E-com export hubs to help small vendors](https://reseuro.magzter.com/100x125/articles/20402/1775504/GH4bux3JdQrZ0ooToGDsys/ECOM-EXPORT-HUBS-TO-HELP-SMALL-VENDORS.jpg)
1 min
India Inc gives thumbs up to growth focus
THE captains of India Inc have given a big thumbs up to the Union Budget of FY2024-25 as they believe it would play an important role in keeping the nation's growth rate intact and foster employment.
1 min
Massive ₹2L cr outlay for jobs, skilling
FINANCE Minister Nirmala Sitharaman on Tuesday announced an outlay of ₹2 lakh crore for five schemes and initiatives that will facilitate employment and skilling opportunities for ₹4.1 crore youth over five years.
1 min
Pvt players for N-sector soon, energy transition on fast track
THE government is planning to release a policy document on appropriate energy transition pathways that balance the imperatives of employment, growth, and environmental sustainability, finance minister Nirmala Sitharaman said on Tuesday.
![Pvt players for N-sector soon, energy transition on fast track](https://reseuro.magzter.com/100x125/articles/20402/1775504/q2cnDIexZgSkmZUL2w5sys/PVT-PLAYERS-FOR-NSECTOR-SOON-ENERGY-TRANSITION-ON-FAST-TRACK.jpg)
1 min
₹26K cr for better road connectivity
BIHAR will get four road projects for better connectivity; PatnaPurnea Expressway, Buxar3 Bhagalpur Expressway, Bodhgaya, Rajgir, Vaishali and Darbhanga spurs, and additional two-lane bridge over the Ganga at Buxar.
1 min
No hike in rural job scheme, static at ₹86K cr
THE flagship scheme for rural employment, Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) has been allocated ₹86,000 crore in FY25 same as the revised estimate for FY24 and ₹20,000 crore more than the budget estimate in FY24.
1 min
Capital gains tax shocker for real estate
THE real estate sector was in for a shock as the government on Tuesday removed the indexation benefit on long term capital gains on unlisted assets including real estate.
1 min
Kashi Vishwanath model for Gaya, Bodh Gaya temples soon
THE Centre has planned comprehensive development of four significant religious sites in Bihar associated with Hinduism, Buddhism, and Jainism with an aim to stimulate investment and unlock economic opportunities.
1 min
FM keeps capital expenditure unchanged at ₹11.11L crore
CONTRARY to expectations, Finance Minister Nirmala Sitharaman on Tuesday kept the capital expenditure (capex) unchanged at ₹11.11 lakh crore in the Union Budget.
2 mins
Jewellery prices to come down by 9% due to duty cut
THERE is every reason for women to smile and even laugh out louder as their favourite ornaments are going to get cheaper by at least 9% with finance minister Nirmala Sitharaman slashing Customs duty on gold to 6% from 10% (effective cut including in the cess is 9 percentage points from 15% to 6%).
1 min
FM hikes tax on derivatives trade five times to 0.1%
AS feared by the markets, finance minister Nirmala Sitharaman has proposed to raise the tax rate on derivatives trade in the budget five times from 0.02% to 0.1%, spooking the market pulling it down by over 1.5% intra-day and sending the rupee, which has been plumbing new lows to a new record low of 83.69 to the dollar, inching past the previous lifetime low of 83.67.
![FM hikes tax on derivatives trade five times to 0.1%](https://reseuro.magzter.com/100x125/articles/20402/1775504/eDxfCAXHP5RBcdqDTfysys/FM-HIKES-TAX-ON-DERIVATIVES-TRADE-FIVE-TIMES-TO-01.jpg)
1 min
Angel tax axed, startups say cheers
IN a move to boost investments in the start-up ecosystem, Finance Minister Nirmala Sitharaman has announced that angel tax will be abolished for all investor classes.
1 min
Concession for foreign firms, no digital tax
FINANCE minister Nirmala Sitharamana on Tuesday while presenting the Union Budget for 202425 proposed to reduce the corporate tax rate on foreign companies from 40% to 35% to attract foreign capital for India's development needs.
1 min
Cancer drugs, cellphones to be cheaper
FINANCE minister Nirmala Sitharaman announced significant reductions in Basic Customs Duty(BCD) across various sectors including precious metals, electronics, critical minerals, other metals, marine products, agriculture, chemicals, petrochemicals, drugs, textiles, and leather.
![Cancer drugs, cellphones to be cheaper](https://reseuro.magzter.com/100x125/articles/20402/1775504/tMyTrL1oX5lKno9H8hXsys/CANCER-DRUGS-CELLPHONES-TO-BE-CHEAPER.jpg)
1 min
On HC order, 12 J'khand sub-inspectors demoted as constables after 26 yrs
IN a move by Jharkhand police, the 12 police constables given out of term promotion and made Sub-inspectors for showing indomitable courage and bravery during an encounter with CPI (Maoists) in 2008, were again demoted to constables after 26 years following the order of Jharkhand High Court.
1 min
Yogi goes for RSS event even as BJP plans meet on UP in Delhi
AMID the ongoing wranglings within the BJP involving both the state government and the organisation, Chief Minister Yogi Adityanath attended an event Guru Dakshina (offerings to the Guru)-convened by the Rashtriya Swayamsewak Sangh (RSS), here on Tuesday.
1 min
Mamata increases Durga puja sops
CHIEF Minister Mamata Banerjee has announced that doles for the 43,000 Durga puja committees will be increased from ₹70,000 to ₹85,000 this year.
![Mamata increases Durga puja sops](https://reseuro.magzter.com/100x125/articles/20402/1775504/oUDCEwz2Olj81vK9CuHsys/MAMATA-INCREASES-DURGA-PUJA-SOPS.jpg)
1 min
Terrorists gun down Army jawan in Poonch; Kupwara encounter on
Troops foil infiltration attempt, use drones & copters for surveillance as tension mounts
![Terrorists gun down Army jawan in Poonch; Kupwara encounter on](https://reseuro.magzter.com/100x125/articles/20402/1775504/vrKq2FTyFKeZMFvkuTgsys/TERRORISTS-GUN-DOWN-ARMY-JAWAN-IN-POONCH-KUPWARA-ENCOUNTER-ON.jpg)
2 mins
Kamala secures delegates for nomination, hits campaign trail
KAMALA Harris hits the US campaign trail on Tuesday after effectively clinching the Democratic presidential nomination, heading to the battleground state of Wisconsin to renew her attacks on Republican candidate Donald Trump.
![Kamala secures delegates for nomination, hits campaign trail](https://reseuro.magzter.com/100x125/articles/20402/1775504/0ghsvQjGggN6NirPQSesys/KAMALA-SECURES-DELEGATES-FOR-NOMINATION-HITS-CAMPAIGN-TRAIL.jpg)
1 min
Yemen govt, Houthis reach deal on bank control: UN
YEMEN's government and the Iran-backed Houthi rebels have agreed to halt tit-for-tat banking sanctions as they wrestle for control of the country's financial institutions, the United Nations said on Tuesday.
1 min
Hamas pact with 12 rivals to rule Gaza after war
China plays mediator with Fatah and other Palestinian outfits; Egypt envoy present at event
![Hamas pact with 12 rivals to rule Gaza after war](https://reseuro.magzter.com/100x125/articles/20402/1775504/bN53VmlpJBTHsJe6yVhsys/HAMAS-PACT-WITH-12-RIVALS-TO-RULE-GAZA-AFTER-WAR.jpg)
2 mins
Deadliest Ethiopian landslide kills 229
USING shovels or their bare hands, local residents on Tuesday searched desperately for survivors after a landslide in a remote area of southern Ethiopia killed at least 229 people, the deadliest such disaster recorded in the Horn of Africa nation.
![Deadliest Ethiopian landslide kills 229](https://reseuro.magzter.com/100x125/articles/20402/1775504/kS2emO9PoCQKPobmqNMsys/DEADLIEST-ETHIOPIAN-LANDSLIDE-KILLS-229.jpg)
1 min
Netanyahu signals hope for truce, to send team for talks
ISRAELI Prime Minister Benjamin Netanyahu signaled that a ceasefire deal that would free dozens of hostages in Gaza could be taking shape.
![Netanyahu signals hope for truce, to send team for talks](https://reseuro.magzter.com/100x125/articles/20402/1775504/zHDUeWtiG1721785300306/NETANYAHU-SIGNALS-HOPE-FOR-TRUCE-TO-SEND-TEAM-FOR-TALKS.jpg)
1 min
Horses take to the air with passports ahead of equestrian eventing
WELCOME aboard, hope you are standing comfortably.
![Horses take to the air with passports ahead of equestrian eventing](https://reseuro.magzter.com/100x125/articles/20402/1775504/BJfpmSFd9wvdngPHzWasys/HORSES-TAKE-TO-THE-AIR-WITH-PASSPORTS-AHEAD-OF-EQUESTRIAN-EVENTING.jpg)
2 mins
The Morning Standard Newspaper Description:
Publisher: Express Network Private Limited
Category: Newspaper
Language: English
Frequency: Daily
The Morning Standard is an English-language newspaper published by Express Network Private Limited in India. The newspaper is published in six Indian cities: New Delhi, Mumbai, Bengaluru, Kolkata, Chennai, and Hyderabad.
The Morning Standard covers a wide range of news and topics, including:
* National and international news: The newspaper covers the latest news from India and around the world, including politics, business, sports, and entertainment.
* Opinion and analysis: The newspaper features opinion pieces and analysis from leading experts on a variety of topics.
* Features: The newspaper also features features on a variety of topics, such as lifestyle, culture, and travel.
The Morning Standard is known for its in-depth reporting and insightful analysis. It is a valuable resource for anyone who wants to stay informed about the latest news and events from India and around the world.
Cancel Anytime [ No Commitments ]
Digital Only