Indian Union Budget 2024 Highlights

Created By: Aspioneer

How the Latest Budget Will Boost Your Investment and Savings Opportunities

Historic Milestone:

FM Nirmala Sitharaman makes history with her seventh consecutive Union Budget presentation.

Image Credit: Thedailyguardian

New Tax Slabs:

Enjoy lower tax rates with ₹0-3 lakh at nil, ₹3-7 lakh at 5%, ₹7-10 lakh at 10%, ₹10-12 lakh at 15%, ₹12-15 lakh at 20% and above ₹15 lakh at 30%.

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Big Spender:

FY25 Capex set at ₹11.1 lakh crore, maintaining a robust infrastructure investment

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Youth Power:

₹2 lakh crore allocated for five schemes benefiting 4.1 crore youth, including a new internship program.

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Women Empowerment:

Special skilling programs and increased support to boost women's participation in the workforce.

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MSME Growth:

Enhanced credit guarantee schemes, term loans for machinery, and new SIDBI branches to support MSMEs.

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Loan Boost:

Mudra loan limits doubled to ₹20 lakh and financial aid for higher education loans up to ₹10 lakhs.

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Rural Revamp:

₹2.66 lakh crore for rural development and a focus on climate-resilient crop varieties.

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Farmer Friendly:

Plan to introduce 1 crore farmers to natural farming over the next two years.

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Regional Support:

₹15,000 crore for Andhra Pradesh, plus new infrastructure projects like airports and medical facilities for Bihar.

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Inflation Target:

Inflation trends toward a 4% target, while India’s growth shines as an economic “exception.”

Image Credit: AIER

Job Creation:

Emphasis on job creation and consumer spending to boost sectors like real estate and autos.

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Priority Areas:

Focus on agriculture, employment, manufacturing, urban development, Energy, Innovation, R&D and more.

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Women’s Schemes:

Over ₹3 lakh crore allocated for initiatives benefiting women and girls.

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Tech Innovations:

Development of Digital Public Infrastructure (DPI) for enhanced credit, e-commerce, and governance.

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Social Welfare:

Extension of PMGKAY for five years, benefiting over 80 crore people.

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