India Budget 2024 Highlights

Every year, the release of the national budget is a highly anticipated event that sets the financial direction for a country. In the context of India, the annual budget is a comprehensive document presented by the Finance Minister to the Parliament. It outlines the government's fiscal policies, revenue and expenditure projections, and key initiatives for the upcoming financial year . Budget 2024

Budget Highlights 2024

Budget 2024 Highlights

Extension in Tax-related benefits

The government has announced the extension (31-3-2025) of tax-related benefits , bringing relief to citizens. This move aims to continue to help individuals and businesses by preserving favorable tax conditions. The extension ensures that people continue to receive benefits and incentives, which contribute to economic stability and financial well-being.

Development of Tourist Centres

To improve visitor experiences, tourist attractions are constantly being upgraded. Infrastructure improvements, cultural attractions, and recreational facilities all help them grow. Local communities frequently benefit from increased economic opportunity and cultural exchange. These developments are intended to create appealing destinations, attract tourists, and promote sustainable tourism practices. Regular upgrades ensure that tourist attractions remain vibrant, accessible, and capable of providing memorable experiences in various islands. (Includes Lakshadweep)

Promoting Atmanirbharta in Defence

A new scheme will be launched  for strengthening of deep-tech and Promoting self-reliance in defense is critical to national security. Embracing Atmanirbharta in defense means prioritizing the development and production of critical military technologies in the country. This strategy increases autonomy, reduces reliance on external sources, and fortifies the defense sector. Nations that foster indigenous capabilities ensure a strong defense infrastructure, promoting self-sufficiency and resilience in protecting their borders.

Expanding Metro Rail and NaMo Bharat

India is taking significant steps to improve cities by expanding its Metro Rail networks. The "NaMo Bharat" vision aims to improve public transportation, reduce traffic congestion, and promote sustainable city living. The government, led by Prime Minister Narendra Modi, is actively working to establish a modern and efficient public transportation system. This will benefit both citizens and the country's overall progress.

CAPEX For Infrastructure Development

CAPEX, or capital expenditure, refers to the investment of money in important, long-term projects such as road and bridge construction. This financial commitment is critical for developing a country's infrastructure, promoting economic growth, and improving the well-being of citizens. Essentially, CAPEX is a key factor in advancing infrastructure development, playing an important role in the construction of critical structures that will benefit the nation and its people in the long run.The capital Expenditure Outlay for FY 2024-25 is being increased by 11.1%to Rs 11,11,111 Crore, This would be 3.4% of the GDP

Improving maternal and Child Health

Improving the health of mothers and children entails making healthcare services more accessible, educating communities about good nutrition and hygiene, and ensuring that pregnant and new mothers receive the care they require. 

Upgradation of Anganwadi Centeries  under 'saksham Anganwadi and Poshan 2.0 will be expedited

Making Travel Convenient

Streamlining travel for your convenience! Our service ensures convenience at every stage, from easy bookings to smooth journeys. Experience a stress-free environment with user-friendly interfaces, quick reservations, and dependable support. Your travels will be made simpler and more convenient. 40,000 normal rail bogies will be converted to the Vande Bharat Standards.

Rooftop Solarization & Free Electricity

Throught rooftop solarization ,1Cr households will be enabled to obtain up to 300Units free electricity every month and will result in savings up to Rs15000 to 18000 annually for housholds from free solar electricty. Will provide large number of opportunities for vendors and entrepreneurship for supply and installation

Boosting Research and innovation

A Corpus of 1lakhs Crore will be established with fifty year interest free loan and also encourage the public private sector to scale up research and innovation .The corpus  will provide  long term financing and long refinancing with long tenors with low intrest rates.

Promoting Green Growth

It's critical to promote green growth for a better future. This entails making environmentally friendly decisions, such as using renewable energy and caring for nature. When we do this, we ensure that our planet remains healthy. Let us look forward to a future in which we can make money while also caring for the Earth, allowing everyone to live in a happy and healthy world for a long time.

Commitment towards "Net Zero"

Coal gasification and liquefaction capacity of 100MT will be set up by 2030, this also helps in reducing imports of natural gas. Dedication to "Net Zero" entails attempting to balance the emissions produced with equal amounts of reduction or offset. It demonstrates a firm commitment to reducing environmental impact, promoting sustainability, and contributing to a healthier planet for present and future generations.

Improving Tax Payer Services 

benfit about a crore tax payers

A home for every middle class family

Empower to buy or built their own house

Charting a Financial Turnaround

4.5% by FY26

Free Electricity to Millions of Homes

1 crore housholds upto 300 Units

Crop Insurance 

Upto 4 Cr Farmers under PM Fasal Bima Yojna

Direct Financial assistance is provided to 11.8 Crore Farmers.

FAQs

What is the India Budget?

The India Budget is an annual financial plan presented by the government. It outlines revenue and expenditure, economic policies, and initiatives for the upcoming fiscal year.

Are there any changes in taxation?

The Budget may introduce changes in tax rates, exemptions, or other tax-related policies. Keep an eye out for updates on income tax, corporate tax, and indirect taxes.

What are the key highlights of the India Budget 2024?

The highlights of the India Budget 2024 include significant allocations, policy changes, and initiatives related to various sectors such as health, education, infrastructure, and more.