The INDIA Budget : 2024 - 2025

The India Budget 2024-2025, presented by Finance Minister Nirmala Sitharaman, focuses on several key areas to promote economic growth, social justice, and sustainability. Here are some highlights and key initiatives from the budget:

🔴 Economic Growth and Fiscal Measures : ☆ Fiscal Deficit Reduction: The budget projects a fiscal deficit reduction to 5.1% of GDP for 2024-25, with a goal of reducing it further below 4.5% by 2025-26 https://pib.gov.in/PressReleaseIframePage.aspx?PRID=2001130. ☆ Tax Reforms: The standard deduction for taxpayers has been increased from ₹50,000 to ₹75,000. The income limit for the 5% tax rate has been raised from ₹5 lakh to ₹7 lakh, providing significant relief to the middle class and boostingconsumption. ☆ Corporate Taxation: The corporate tax rate for existing domestic companies is set at 22%, and at 15% for new manufacturing companies, promoting industrial growth and investment. 🔴 Agriculture and Rural Development : ☆ Agricultural Initiatives: A budget allocation of ₹1.52 lakh crore aims to enhance agricultural productivity through the introduction of high-yielding and climate-resilient crop varieties, promotion of natural farming, and digital public infrastructure for agriculture. This includes support for farmer cooperceives and startups. ☆ PM-KISAN Scheme: Continued support for 11.8 crore farmers through financial assistance. The Electronic National Agriculture Market (e-NAM) has been expanded to 1,361 mandis, aiding 1.8 crore farmers in trading. 🔴 Infrastructure and Employment : ☆ Capital Expenditure: The capital expenditure outlay has been increased by 11.1% to ₹11.11 lakh crore, focusing on infrastructure projects including roads, railways, and rural development. ☆ Job Creation and Skill Development: An allocation of ₹1.48 lakh crore for employment and skill development aims to boost job creation, particularly in sectors such as hospitality and tourism, which are expected to benefit from new religious tourism circuits and infrastructure development.

🔴 Social Justice and Women's Empowerment : ☆ Support for Vulnerable Groups: Programs like PM-JANMAN Yojana for tribal groups and PM-Vishwakarma Yojana for artisans provide end-to-end support, including credit assistance and market access. ☆ Women's Empowerment: Initiatives under Mudra Yojana have provided loans to 30 crore women entrepreneurs, and over 70% of houses under the PM Awas Yojana have been allocated to women in rural areas. Female enrolment in higher education has increased significantly, with 43% in STEM courses. 🔴 Digital and Technological Advancements : ☆ Digital Public Infrastructure: Emphasis on developing digital infrastructure across various sectors to promote efficiency and innovation. This includes expanding the digital footprint in agriculture and rural areas, and enhancing financial inclusion through digital means. Overall, the India Budget 2024-2025 aims to balance economic growth with social equity, focusing on tax reforms, agricultural advancement, infrastructure development, job creation, and digital innovation. These measures are designed to build a resilient and inclusive economy. 💗 https://www.livemint.com/economy/budget-2024-key-highlights-live-updates-nirmala-sitharaman-infrastructure-defence-income-tax-modi-budget-23-july-11721654502862.html. 💗 https://pib.gov.in/PressReleaseIframePage.aspx?PRID=2001130 https://prsindia.org/files/budget/budget_parliament/2024/Interim_Union_Budget_Analysis-2024-25.pdf#:~:text=URL%3A%20https%3A%2F%2Fprsindia.org%2Ffiles%2Fbudget%2Fbudget_parliament%2F2024%2FInterim_Union_Budget_Analysis.