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The Union Budget is the annual financial report of India; an estimate of income and expenditure of the government on a periodical basis. As per Article 112 of the Indian Constitution, it is a compulsory task of the government. [3]
The Ministry of Finance has proposed a 71% increase in funding to ₹13,104.50 crore for the manufacturing of chips and electronics in the 2024 Union budget of India. [104] In 2024, the Government of India has approved the establishment of four semiconductor manufacturing units in the country as part of the Semicon India Programme. Additionally ...
India has growing data centre industry. Data centres are used for national security, internet infrastructure, and economic output. As of 2024, India's data centre capacity is at 950 MW, which is expected to be 1800 MW by 2026. [1] The data centre industry is valued at US$1.2 billion in 2021, a 216% growth from $385 million in 2014.
Finance Minister Nirmala Sitharaman presented the Union Budget in the Lok Sabha on 1 February 2024 following the necessary approval from the President of India. During this presentation, the Finance Minister highlighted the crucial aspects of the document and justified the underlying thought process behind the proposed initiatives.
2–3 July – 2024 India-Bangladesh floods: At least sixteen people are killed by floods and landslides in Assam and Arunachal Pradesh, while over 300,000 more are displaced. [106] [107] 5 July – A victory parade is held in Mumbai by the Indian cricket team following their victory in the 2024 ICC Men's T20 World Cup. [108] [109]
The economy of India is a developing mixed economy with a notable public sector in strategic sectors. [5] It is the world's fifth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP); on a per capita income basis, India ranked 141th by GDP (nominal) and 125th by GDP (PPP). [58]
Expenditure State Budget (in crore rupees) FY Reference Andhra Pradesh ₹ 279,279 crore (US$32 billion) 2023-24 [1]Arunachal Pradesh ₹ 29,657 crore (US$3.4 billion) 2023-24
Composition of India's total production of foodgrains and commercial crops, in 2003–04, by weight. India ranks second worldwide in farm output. Agriculture and allied sectors like forestry, logging and fishing accounted for 18.6% of the GDP in 2005, employed 60% of the total workforce [13] and despite a steady decline of its share in the GDP, is still the largest economic sector and plays a ...