Interim Budget 2024: Key Takeaways From Nirmala Sitharaman’s Budget Speech | Economy News

New Delhi: Finance Minister Nirmala Sitharaman on Thursday unveiled her sixth budget in Parliament, marking it as an interim budget ahead of the Lok Sabha Elections. It’s noteworthy that the upcoming full-fledged budget will be presented by the new government after the Lok Sabha elections. The government’s primary focus lies on improving conditions for marginalized groups such as the poor, women, youth, and farmers, among other sectors.

Let’s have a quick look on the key takeaways from Nirmala Sitharaman’s Budget 2024

-In a span of 10 years, the government successfully lifted 250 million people out of poverty.

-The government is set to introduce a new initiative aimed at enhancing deep tech capabilities for defense applications.

-In her interim Budget 2024 speech, Finance Minister Nirmala Sitharaman announced a substantial government investment in the country’s tourism sector.

-Over the next five years, the government plans to construct an additional 20 million affordable houses, supplementing the existing 30 million homes already built. (Also Read: Defense Gets Rs 6.21 Lakh Crore In Interim Budget 2024-25)

-The extension of tax benefits for startups and the inclusion of investments from sovereign wealth and pension funds will now be applicable until March 2025.

-The government announced that the success of self-help groups has enabled one crore women to attain the title of “Lakhpati didis.”

-The government announced that there are no changes in taxation – both direct and indirect.

-The fiscal deficit for FY24 is anticipated to be below the target at 5.8% of GDP. It is projected to further decrease to 5.1% in FY25, with the objective of reducing it to 4.5% by FY26. (Also Read: Health Ministry Allocated Over Rs 90,658 Crore In interim Budget)

-The Railways gets an allocation of Rs 2.4 lakh crore. Three major economic railway corridors under the PM Gati Shakti to improve logistics efficiency and reduce cost.