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In Union Budget 2024-25, FM Nirmala Sitharaman sets the stage for a transformative year with a financial commitment to continuity, innovation, and sustainability. She confirmed the continuity of existing tax rates for direct and indirect taxes and export duties. Considering there has been an 11% increase in upcoming year capital expenditure, reaching ₹11.1 lakh core. The fiscal gap has been revised to 5.8% of GDP. The finance minister introduced a housing scheme for the deserving middle class, especially for those who live in rented houses, slums, chawls, or unauthorized colonies. Our Prime Minister, Narender Damodar Das Modi, emphasized that such an initiative will definitely support the middle-class segment in acquiring or constructing their homes. Moreover, the Interim budget 2024 comprises diverse announcements to benefit the Indian youth and impoverished women and farmers. The finance minister also extended Ayushman Bharat’s health care coverage to all ASHA and Anganwadi workers and helpers.
The interim 2024 budget key highlights showcase the government’s commitment towards socio-welfare and inclusive development, which promised to shape the Indian economic trajectory and address environmental challenges.
The union budget 2024-25 showcases a holistic approach towards inclusive growth, economic stability, and environmental sustainability. The government of India, under the Interim budget, highlights commitment to social welfare and infrastructure development towards a resilient and self-reliant India. As India navigates through the fiscal year 2024-25, the implementation of government initiatives will be closely monitored for its impact on the lives of Indian populations and the country’s overall development and progress.
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