Finance Minister Nirmala Sitharaman presents Union Budget 2024 || Updates

Finance Minister Nirmala Sitharaman present the last budget of the Modi 2.0 government before the upcoming general elections due in April and May.

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• No changes in Income Tax rates, Union Finance Minister Nirmala Sitharaman presents Interim Budget 2024-25
• After concluding the interim Budget speech, Finance Minister Nirmala Sitharaman introduces the Finance Bill 2024 in Lok Sabha.
• The fiscal deficit in 2024-25 is estimated to be 5.1% of GDP,” says Union Finance Minister Nirmala Sitharaman.
• I propose to retain the same tax rates for direct and indirect taxes including import duties, says FM.
• The revised estimate of the fiscal deficit is 5.8% of GDP, improving on the budget estimate notwithstanding moderation in the nominal growth estimates.
• Union Finance Minister Nirmala Sitharaman says, “In the full budget in July, our Government will present a detailed roadmap for our pursuit of Viksit Bharat.
• FDI is ‘First Develop India’… FDI inflow during 2014 to 2023 was Rs 596 billion US dollars, marking a golden era, says FM
• Many growth and development-enabling reforms are needed in the state for realising the vision of Viksit Bharat. A provision of Rs 75,000 Crores as a 50-year interest-free loan is proposed this year to support those milestone-linked reforms by the state governments.
• To address fervour for domestic tourism, projects for port connectivity, tourism infra & amenities will be taken on our islands including Lakshadweep, says FM Sitharaman
• The outlay for infrastructure has been increased to Rs 11.11 lakh crores in FY25, says FM Sitharaman.
• For our tech-savvy youth, this will be a golden era. A corpus of Rs 1 lakh crore will be established with 50-year interest-free loan provided. It will be for long-term financing or re-financing with low or nil interest rates.
• Our government plans to set up more medical colleges by utilising the existing hospital infrastructure under various departments. A committee for this purpose will be set up to examine the issues and make relevant recomendations.
• A new scheme will be launched for strengthening deep-tech technologies for defence purposes and expediting self-reliance, says FM Sitharaman.
• Through roof-top solarisation, 1 crore households will be enabled to obtain up to 300 units of free electricity every month. This scheme follows the resolve of the Prime Minister on the historic day of the consecration of Shri Ram Mandir in Ayodhya.
• For further growth of agriculture sector, the government to further promote public & private investment in post-harvest activities.
• Despite the challenges due to COVID, implementation of PM Awas Yojana Rural continued and we are close to achieving the target of 3 crore houses. 2 crore more houses will be taken up in the next 5 years to meet the requirement arising from increase in the number of families
• The health cover under the Ayushman Bharat scheme will be extended to all ASHA and Anganwadi workers and helpers.
• The next five years will be the years of unprecedented development, says FM Nirmala Sitharaman
• Our government will adopt economic policies that foster and sustain growth, facilitate inclusive and sustainable development, improve productivity, create opportunities for all, help them enhance their capabilities and contribute to generation of resources to power investments and fulfill aspirations.
• The economy is doing well. Inflation is moderate, says FM Sitharaman.
• The government is equally focused on GDP – Governance, Development and Performance.
• On ‘Nari Shakti, FM Sitharaman says, Female enrolment in higher education up by 28% in 10 years, in STEM courses, girls & women make 43% of enrolment, one of the highest in the world. All these steps are reflected in the increasing participation of women in the workforce. Making triple talaq illegal, reservation of 1/3 seats for women in Parliament and state assemblies, over 70 % houses under PM Awas Yojana to women have increased their dignity.
• The Skill India Mission has trained 1.4 crore youth, upskilled and re-skilled 54 lakh youth, and established 3000 new ITIs. A large number of institutional higher learning, namely 7 IITs, 16 IIITs, 7 IIMs, 15 AIIMS and 390 Universities have been set up.
• We need to focus on – Garib, Mahilayen, Yuva and Annadata; Their needs and aspirations are our highest priorities, says Finance Minister Nirmala Sitharaman in her interim Budget speech.
• The Indian economy has witnessed a profound positive transformation in the last 10 years, The people of India are looking ahead to the future with hope and optimism. With the blessings of the people, when our government – under the leadership of PM Narendra Modi – assumed office in 2014, the country was facing enormous challenges with Sabka Saath, Sabka Vikas as its mantra. The Government overcame those challenges in right earnest.
• Our young country has high aspirations, pride in its present and hope and confidence for a bright future. We expect that our govt based on its stupendous work will be blessed again by the people with a resounding mandate.”