Interim Budget 2024 : Finance Minister Nirmala Sitharaman has today presented the final budget of the second term of the Modi government. This was an interim budget since it was an election year. Let us know in 10 points what was special in this Interim budget 2024.
10 Key Points of the Interim Budget 2024:
Fiscal Consolidation: Revised fiscal deficit target for FY24 down to 5.8%, aiming for financial stability.
Increased Capital Expenditure: 25% hike to Rs 11.11 lakh crore, prioritizing infrastructure development for economic growth.
Extension of Startup Tax Holiday: Encourages entrepreneurship by extending tax benefits for startups until March 31, 2025.
Boost for Tourism: Interest-free loans for states and development funds for specific destinations like Lakshadweep aim to revive the sector.
Focus on Rural Development: Over 70% of PM Awas Yojana houses in rural areas allocated to women, promoting inclusion and ownership.
No Change in Tax Rates: Provides stability for businesses and individuals by maintaining existing tax structures.
Investment in Research & Innovation: Establishment of a Rs 1 lakh crore corpus emphasizes long-term commitment to technological advancement.
Reiterating Women Empowerment: Highlights achievements like making triple talaq illegal and reserving seats in legislatures.
Interim Nature: Serves as a placeholder until the full budget after elections, offering insights into current priorities.
Unanswered Questions: Long-term impact of increased infrastructure spending and effectiveness of targeted schemes remain to be seen.
Bonus Point:
Full Budget After Elections: Likely to bring significant changes and provide a clearer picture of the government’s long-term vision.
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