The Government proposes to create a corpus of Rupees One Lakh Crore to boost private investment in sunrise technologies. While presenting the Interim Budget 2024-25 in Parliament, the Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman said that this will mark a golden era for our tech savvy youth.
Union Finance Minister said that "Capital Expenditure outlay for 2024-25 is being increased by 11.1 % to 11 lakh, 11 thousand, 100 and 11 crore rupees (₹ 11,11,111 crore)". This amounts to 3.4 % of GDP. In addition, she mentioned that the massive tripling of the CapEx over the last 4 years is resulting in huge multiplier impact on economic growth and employment creatin.
Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman laid down the strategy for ‘Amrit Kaal’. In Parliament, the Minister said, “It is an important policy priority for our government to ensure timely and adequate finances, relevant technologies and appropriate training for the Micro, Small and Medium Enterprise (MSME) to grow and also compete globally.
Farmer’s welfare and boosting rural demand is one of the main highlights of interim budget 2024-25 presented by Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman in Parliament. Terming Farmers as our ‘Annadata’, Smt. Sitharaman stated that Minimum support prices for the produce of ‘Annadata’ are periodically increased appropriately.
While presenting the Interim Budget 2024-25 in Parliament, Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman announced that the Government will launch a scheme to help deserving sections of the middle class “living in rented houses, or slums, or chawls and unauthorized colonies” to buy or build their own houses.
While enunciating the approach of government towards an all-round, all-pervasive and all-inclusive (सर्वांगीण, सर्वस्पर्शी और सर्वसमावेशी) development, the Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, announced a slew of measures for the promotion of green growth and renewable energy, while tabling the Interim Budget 2024-2025.
Union Minister for Finance and Corporate Affairs, Smt Nirmala Sitharaman, while presenting the Interim Budget 2024-25 in Parliament, laid emphasis on comprehensive development of tourist centers for achieving the vision of ‘Viksit Bharat’ by 2047.
While presenting the Interim Budget 2024-25 in Parliament, Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman announced that it has been decided to enhance the target for Lakhpati Didi from 2 crore to 3 crore. The Union Minister said that 83 lakh SHGs with 9 crore women are transforming rural socio-economic landscape with empowerment and self-reliance.
In a bid to boost Fisheries sector, Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman has said that five integrated aquaparks will be setup. While presenting the Interim Budget 2024-25 in Parliament today, the Minister said, “It was our Government which set up a separate Department for Fisheries realizing the importance of assisting fishermen.
Finance Minister Nirmala Sitharaman set a target for raising Rs 50,000 crore through divestment receipts and monetisation of public assets in the financial year 2024-25.
However, the government, for the first time, did not reveal the specific target for divestment for the next fiscal year.
In terms of allocations, the Ministry of Defence received the highest amount at ₹6.2 lakh crore followed by the Ministry of Road Transport and Highways at ₹2.78 lakh crore. On the other hand, the Agriculture Ministry got the lowest amount at ₹1.27 lakh crore.
The Interim Budget allocated ₹80,671 crore for the Pradhan Mantri Awas Yojana (PMAY), which provides 'pucca' houses with basic amenities to all eligible urban beneficiaries, including slum dwellers. In the Union Budget 2023-24, the Centre had allocated ₹79,590 crore for the scheme, which was later revised to ₹54,103 crore.
No changes in the income tax slabs for the upcoming financial year, 2024-25 (April 1, 2024-March 31, 2025), have been made in the interim budget 2024 by the finance minister Nirmala Sitharaman. This would mean that individuals will calculate the income tax payable on their incomes same as they are doing it for current financial year 2023-24 (April 1, 2023-March 31, 2024).
The recently announced India-Middle East-Europe Economic Corridor is a strategic and economic game changer for India and others. The Minister said that the Foreign Direct Investment (FDI) inflow during 2014-23 was USD 596 billion marking a golden era. She highlighted that it is twice the inflow during 2005-14.