Interim Budget 2024 Highlights: The desire for tax exemption remained in the heart, citing tradition the Finance Minister did not change the slab

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Interim Budget 2024 Highlights: Finance Minister Nirmala Sitharaman presented the interim budget 2024 in Parliament. This vote is on account before the Lok Sabha elections, so no special announcements are expected in it, but it is believed that the Finance Minister can make big announcements for women, farmers and youth.

New Delhi: Finance Minister Nirmala Sitharaman presented the Interim Budget 2024 in Parliament. He said that the government’s focus is on youth, farmers, women and the poor. These four are at the top of priority. This was the interim budget before the Lok Sabha elections. Citing tradition, the Finance Minister refrained from making any announcement related to tax. There has been no change of any kind in any kind of direct and indirect taxes and their slabs, including income tax.

Major points of the budget 2024 highlights

Finance Minister Nirmala Sitharaman on Thursday said the government will launch a housing scheme to help the eligible middle class buy or build their own homes. Presenting the interim budget ahead of the elections, Sitharaman said the government will also adopt an economic approach that facilitates sustainable growth and improves productivity. While presenting the budget, he also mentioned ‘rooftop solarization’ to ensure up to 300 units of free electricity per month to one crore houses, which will lead to household savings of Rs 15,000-18,000 annually.

  • The Finance Minister said the government will set up more medical colleges using the existing hospital infrastructure. He said that maximum attention will be given to the development of the eastern region and its people.
  • 517 new routes will be added under the UDAN scheme: Sitharaman.
  • Time taken to process tax returns has reduced from 93 days in 2014 to 10 days now, refunds made faster: Sitharaman.
  • Government will come out with a white paper on economic mismanagement of pre-2014 era: Sitharaman.
  • Government aims to reduce natural gas through coal ‘gasification’: Sitharaman.
  • Government’s special focus on infrastructural development to increase tourism in the entire country including Lakshadweep: Sitharaman
  • Expenditure on infrastructure sector will increase by 11 percent to Rs 11.11 lakh crore, which is 3.4 percent of GDP: Sitharaman
  • Provision of interest-free loan of Rs 75,000 crore for development in states: Sitharaman
  • Fiscal deficit is estimated to be 5.8 percent in the current financial year, the target is to bring it down to 5.1 percent in the next financial year.
  • Revised estimate of total receipts excluding borrowings for financial year 2023-24 to be Rs 27.56 lakh crore: Sitharaman.
  • Funding will be provided to make the project practical for one gigawatt offshore wind power capacity for net zero carbon emissions: Sitharaman.

All Asha and Anganwadi workers under the ambit of Ayushman Bharat

The Finance Minister announced to bring all Asha and Anganwadi workers under the ambit of health care under Ayushman Bharat. Ayushman Bharat Pradhan Mantri-Jan Arogya Yojana (AB-PMJAY) is the world’s largest publicly financed health insurance scheme, providing ‘coverage’ of Rs five lakh per family per year for secondary and tertiary care hospitalization. Till December 27 last year, 55 crore people from 12 crore families were covered under this scheme. Finance Minister Nirmala Sitharaman said that providing adequate and timely financing to Micro, Small and Medium Enterprises (MSMEs) is the government’s priority.

Budget 2024 Highlights

11.8 crore farmers benefited under PM Kisan Samman Nidhi

Finance Minister Nirmala Sitharaman said that under PM Kisan Yojana, financial assistance has been provided to 11.8 crore farmers. Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) is one of the largest Direct Benefit Transfer (DBT) schemes in the world. Under the PM-Kisan scheme, the government provides a financial benefit of Rs 6,000 per year in three equal monthly installments. This money is deposited in the bank accounts of farmer families across the country through ‘DBT’. This was announced in the interim budget in February 2019.

Under ‘Rooftop Solar’ project, 300 units of free electricity every month to one crore families: Sitharaman

Finance Minister Nirmala Sitharaman said on Thursday that food related worries of 80 crore people in the country have ended as they are getting free ration. Presenting the interim budget in the Lok Sabha, he said that when the Modi government came to power in 2014, India was facing huge challenges and the government overcame the challenges in the right manner. Prime Minister Narendra Modi had said in November last year that his government would extend the free ration scheme for the poor population for five years.

  • Nano urea will be used in various crops in agro-climatic zones: Sitharaman.
  • Government will come up with a special housing scheme for the middle class, there will be a scheme for people living in rented houses, slums and chawls: Sitharaman.
  • A committee will be formed to give suggestions on converting existing district hospitals into medical colleges: Sitharaman.
  • We are close to achieving the target of three crores under the Rural Housing Scheme; More than two crore houses will be constructed in the next five years: Sitharaman.
  • The country overcame the challenges of the Covid-19 pandemic, laid the foundation for a self-reliant India: Finance Minister
  • Panch Prana has laid a strong foundation for Amritkaal, working for a developed India by 2047: Finance Minister Sitharaman.
  • 78 lakh street vendors benefited from PM-Swanidhi, PM Vishwakarma Yojana also benefited: Sitharaman.
  • 25 crore people have been brought out of poverty in the country in 10 years, government is empowering the poor: Sitharaman
  • When the Modi government came to power in 2014, India was facing huge challenges; The government has truly controlled them: Finance Minister
  • Free ration has ended the food worries of 80 crore people: Sitharaman.
  • 4 crore youth of the country have benefited from Skill India Mission: Sitharaman
  • Rs 34 lakh crore transferred through Direct Benefit Transfer through Jan Dhan accounts, resulting in savings of Rs 2.7 lakh crore: Sitharaman.
  • The next five years will be a time of unprecedented growth for the country, paving the way for a developed India: Finance Minister Nirmala Sitharaman.
  • The reforms that have been made will bring unprecedented development in the next five years: Sitharaman
  • Despite the Covid pandemic, three crore houses were provided under PM Awas Yojana (Rural), two crore new houses will also be given to the families: Sitharaman.

25 crore people got freedom from multidimensional poverty in 10 years

Finance Minister Nirmala Sitharaman said that in the last 10 years, 25 crore people have been freed from multidimensional poverty. Presenting the interim budget 2024 in the Lok Sabha, she said that the previous governments’ approach to tackling poverty yielded very modest results. Sitharaman said that now the benefits are transferred to all eligible citizens on the basis of transparency. He said that transformative reforms are being initiated through the National Education Policy.

Loans worth Rs 22.5 lakh crore given under PM Mudra Yojana

While presenting the interim budget, the Finance Minister said that the government has given 43 crore loans worth a total of Rs 22.5 lakh crore under the PM Mudra Yojana.

Sitharaman said in her pre-poll budget that direct benefit transfer of Rs 34 lakh crore through Jan Dhan accounts has resulted in a saving of Rs 2.7 lakh crore. The Finance Minister said that in the last 10 years, 30 crore Mudra Yojana loans have been given to women. He said that the vision of bringing all eligible people within the ambit is the true and comprehensive achievement of social justice and this is active secularism. The Finance Minister said that there are 80 chess grandmasters in India today compared to 20 in 2010.

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