Salient Features of IND-BUDGET 2024

The Finance Minister of India, Nirmala Sitharaman, presented an interim budget for FY 2024–2025 on February 1, 2024. The government has attempted to focus on every aspect. Let's see what are the highlights of Budget 2024-25.

1. Focus on four major groups: Finance Minister Nirmala Sitharaman stated that the government is focusing on four main groups — the poor, women, youth, and farmers.

2. Interest-free loans: The government would grant Rs 75,000 crore in 50-year interest-free loans to states. According to Finance Minister Sitharaman, the country has developed rapidly in the last four years.

3. Blue Economy: Finance Minister Nirmala Sitharaman said that aquaculture will also be encouraged. This will boost the country's blue economy. Also, the Pradhan Mantri Matsya Sampada Yojana will be carried forward.

4. No Tax up to 7 Lakh: According to FM, Nirmala Sitharaman, no tax will be payable on income up to seven lakhs. The current income tax slab has not changed.

5. Tax exemption for startups: The last date for certain tax exemptions to startups has been extended. The last date of tax exemption has been extended on investments made by IFSC units on behalf of sovereign wealth or pension funds The last date was 31 March 2024, which has now been extended to 31 March 2025.

6. Welfare of Farmers: Under the PM-Kisan scheme, 11.8 crore farmers including marginal small farmers will be given every year. Direct financial assistance is provided to the farmers.

7. Empowering Women: In the interim budget 3.1 lakh crore has been allocated for schemes and programs dealing with problems related to women. The Ministry of Women and Child Development has been allocated Rs 26,000 crore for 2024-25, 'Saksham Anganwadi and Poshan 2.0' (including Anganwadi services, Poshan Abhiyan. This is followed by Rs 3145.97 crore allocated for Mission Shakti (Mission for Safety and Empowerment of Women).

8. Free electricity: The government has also announced to provide 300 units of free electricity every month. The Government has also announced vaccination for cervical cancer. It has been said to promote research in new areas.

9. Emphasis on infrastructure development: The Central Government is also paying special attention to strengthening the infrastructure of the country. Under the budget, the government has said to spend 11% more.

10. Railway route: The start of three rail corridors is also announced in this FY budget. It will also include marine rail connectivity.

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