Union Budget 2024: Our government is working towards development which is all-round, all-inclusive and all-pervasive. It covers all castes and people at all levels. We are working towards making India a Viksit Bharat by 2047, Union Finance Minister Nirmala Sitharaman said while presenting the Interim Budget 2024-25 at Parliament on 1 February, 2024.
The country was facing enormous challenges when the current government assumed office in 2024, howeevr, with ‘Sabka Sath Sabka Vikas’ as its mantra, it overcame those challenges, she said.
FM added that the government continues to focus on four major groups — Poor, farmers, youth and women.
While highlighting the ‘Garib ka kalyan, desh ka kalyan’ slogan, FM said that, with the pursuit of Sabka Saath, the govt has assisted 25 crore people to get freedom from multidimensional poverty in last 10 years.
Here Are the ‘Top Budget 2024 Highlights”:
– On the Capex front, the outlay for next year increased by 11.1% to Rs 11.11 lakh crore.
– FY25 fiscal deficit budgeted at 5.1% of GDP. FY24 fiscal deficit pegged at 5.8% against the budgeted 5.9%.
– Direct Benefit Transfers of Rs 34 lakh crore from government using PM Jan Dhan accounts have led to savings of Rs 2.7 lakh crore. These savings have been realised through the avoidance of leakages prevalent earlier, said Sitharaman.The savings give us more funds for Garib Kalyan, she added.
– M Mudra Yojana has sanctioned 43 crore loans amounting to Rs. 22.5 lakh crore for the entrepreneurial aspirations of youth. Fund of Funds, Startup India and Startup Credit Guarantee Schemes are assisting the youth.
– Every year under PM Kisan Samman Yojana, Direct financial assistance is provided to 11.8 crore farmers, including marginal and small farmers. Crop insurance is given to 4 crore farmers under PM Fasal Bima Yojana
-Rs 34 cr Mudra Yojana loans been given to women entrepreneurs.
– Average income of people increased by 50%, says FM
– A corpus of Rs 1 lakh crore will be established with 50 year interest-free loan for tech-savvy growth.
– Over the last 10 years, tax collections have more than doubled.
– No changes in taxation. FM proposes to retain same tax rates for direct and indirect taxes including export duties.
The Budget Session of Parliament began yesterday with President Droupadi Murmu addressing the joint meeting of both Rajyya Sabha and Lok Sabha. The session will conclude on February 9.
