Union Budget 2024
Finance Minister Nirmala Sitharaman presented her seventh budget today. This was the first full budget of the Modi government after its victory in the Lok Sabha. Therefore, the citizens of the country had high expectations from this budget. Modi government has made important announcements for nine sectors. Let us see in detail what has been announced for which sector…
1. Productivity and resilience in agriculture
Sitharaman said that changes in agricultural research are necessary to increase productivity. A package of Rs 1.52 lakh crore has been announced for agriculture and allied sectors.
Minimum base price is announced for farmers. Sitharaman said that emphasis has been given in the budget for natural farming. Also PM Garib Kalyan Food Yojana has been extended for five years. He said that more than 80 crore people will benefit from it.
2. Employment and Skills
A package of Rs 2 lakh crore will be given to increase employment. Emphasis is placed on employment, skill training, MSMEs and the middle class. 5 schemes have been announced by the Modi government to provide employment, skill training and other opportunities to 4.1 crore youth over a period of 5 years. In the next five years, one crore youth will get an internship opportunity in top 500 companies.
3. Inclusive Human Resource Development and Social Justice
A fund of 2 lakh crores will be given for the development of rural areas. Pradhan Mantri Janjaatya Unnat Gram Abhiyaan will be launched for the improvement of social and economic condition of the tribal community. This scheme will be for tribal majority villages. 63 thousand villages will be covered under this. This will benefit 5 crore tribals.
– Houses will be built for 1 crore poor people in the city
Important announcements in the Finance Minister’s Budget
• Investors have been given relief. Angel tax has been abolished
• Reduced customs duty on gold and silver, thus making gold and silver cheaper
• Prices of mobile chargers reduced by 15 percent
•Products made from fish will be cheaper
• X-ray machines will be cheaper
• Electric vehicles will be cheaper
• Mobile, mobile spare parts will be spared
• Customs duty on 3 cancer drugs is going to be removed
• Cheap leather goods
• Lithium batteries will be cheaper
• Solar panels will be cheaper
• 5% tax from 3 to 7 lakhs
• No tax upto 3 lakhs
• 10 percent tax from 7 to 10 lakhs
• Even if TDS is not paid, no case will be registered
• Attempt to settle tax related disputes within 6 months
• Employees registering for the first time under EPFO, up to Rs 15,000 of a month’s salary will be released through direct benefit transfer in three installments.
• Both employer and employee will be directly encouraged under EPFO contribution during the first four years of employment.
केंद्रीय बजट 2024-25 प्रस्ताव:
✅ 30 लाख से अधिक आबादी वाले 14 बड़े शहरों में ट्रांजिट ओरिएंटेड डेवलपमेंट योजनाएं होंगी
✅ 1 करोड़ शहरी गरीब और मध्यमवर्गीय परिवारों को #PMWasYojana शहरी 2.0 के तहत कवर किया जाएगा
✅ चुनिंदा शहरों में 100 साप्ताहिक ‘हाट’ या स्ट्रीट फूड हब… pic.twitter.com/2JUigm2SA6
— Ministry of Finance (@FinMinIndia) July 23, 2024
Large provision for Andhra and Bihar
A fund of 15 thousand crores has been earmarked for Andhra Pradesh. 26 thousand crore rupees have been provided for Bihar. We will promote industrial development in Gaya, Bihar.
Patna-Purnia Expressway, Buxar-Bhagalpur Highway, Bodhgaya-Rajgir-Vaisali-Darbhanga and additional double deck bridge over river Ganga in Buxar. A new 2400 MW power plant will be set up at Peerpenty in Bihar. New airports, medical colleges and sports infrastructure will be built in Bihar. Bihar Government’s requests for external assistance from multilateral development banks will be processed expeditiously.
Also read this: Budget 2024-25: Big Boon for Consumers! Mobile Phones and Chargers Get Cheaper
Andhra Pradesh has also been given special attention by the government. The finance minister said that all the promises made during the restructuring will be fulfilled. A package of around 15 thousand crore rupees will be given for Andhra Pradesh. Nirmala Sitharaman has acknowledged the state’s need for capital in the Andhra Pradesh Reorganization Act. Funds will also be given for the development of the capital Amravati.
4. Products and Services
States will be given interest-free loans for 15 years. This will benefit the states. Mobiles and mobile accessories are going to get cheaper. Up to 200 units of electricity will be provided free of cost.
5. Urban development
Street marts will be started in 100 cities. Citizens will benefit from this. Awas scheme will be implemented for 1 crore poor in the city. Clean water scheme will be introduced in 1000 cities.
Also read this: Budget 2024: 1 Crore Middle-Class Families to Benefit from Urban Development Schemes
India has a long history. Employment and new opportunities can be provided through tourism. A comprehensive development plan will be rolled out in Bihar’s Rajgir and Nalanda. Odisha will be given priority in terms of tourism. Odisha attracts tourists for its natural beauty, temples, sculptures, wildlife, sanctuaries and sea beaches.
केंद्रीय बजट 2024-25 में हर साल 25,000 छात्रों की मदद के लिए मॉडल कौशल ऋण योजना में संशोधन का प्रस्ताव है ।
घरेलू संस्थानों में उच्च शिक्षा के लिए 10 लाख रुपये तक के ऋण के लिए ई-वाउचर हर साल 1 लाख छात्रों को सीधे ऋण राशि के 3% की वार्षिक ब्याज छूट के लिए दिए जाएंगे। pic.twitter.com/0wPxcmqrvf
— Ministry of Finance (@FinMinIndia) July 23, 2024
6. Energy conservation
Pradhan Mantri Suryaghar Yojana will be implemented. Funds will be made available for that. 1 crore will be accommodated under the Suryaghar Yojana.
7. Infrastructure
We support road connectivity. In line with this, we are going to construct Patna to Purnia Expressway, Bodhgaya-Rajgir-Vaishali-Darbanga Expressway, Buxar-Bagalpur Expressway. An additional two-lane bridge is to be constructed over the Ganges at Buxar. Nirmata Sitharaman said that 26 thousand crore rupees will be spent for this. 25 thousand villages will be connected by paved road.
Modi government will focus on infrastructure development. 11 lakh crore rupees for infrastructure development. 3.4 percent of GDP will be used for infrastructure.
– There is no special provision in the budget for the Ministry of Railways
8. Innovation, Research and Development
Natural farming scheme will be introduced for 1 crore farmers.
9. New generation improvements
1 crore youth will get internship opportunity in 500 leading companies. For this, you will get Rs 5000 per month tuition fee and Rs 6000 lump sum. 3 percent concession will be given in education loans.
Also read this:
• Unveiling the Budget-Making Process: From A Leather Bag to Nirmala Sitharaman’s Briefcase
