Interim Budget 2024: Key announcements made by FM Nirmala Sitharaman
Nirmala Sitharaman made several announcements during her speech in Parliament.
Interim Budget 2024 Key announcements by FM Nirmala Sitharaman: Union Finance Minister Nirmala Sitharaman on Thursday presented the Interim Budget 2024-25. She made several announcements during her speech in Parliament that included a decision on changes in the tax slab as well.
To note, there will be no changes in Income Tax rates, said Union Finance Minister Nirmala Sitharaman presenting Interim Budget 2024-25. "The fiscal deficit in 2024-25 is estimated to be 5.1% of GDP," she said, adding "In the full budget in July, our Government will present a detailed roadmap for our pursuit of Viksit Bharat."
"FDI is 'First Develop India'... FDI inflow during 2014 to 2023 was Rs 596 billion US dollars, marking a golden era. This was twice the FDI inflow between 2005 to 2014. For sustained FDI, we are negotiating bilateral investment treaties with foreign partners," the Finance Minister said.
Union Finance Minister Nirmala Sitharaman further said, "Many growth and development-enabling reforms are needed in the state for realizing the vision of Viksit Bharat. A provision of Rs 75,000 Crores as a 50-year interest-free loan is proposed this year to support those milestone-linked reforms by the state governments."
She added, "The outlay for infrastructure has been increased to Rs 11.11 lakh crores in FY25. To address fervor for domestic tourism, projects for port connectivity, tourism infra & amenities will be taken on our islands including Lakshadweep."
For the youth, FM Sitharaman said, "For our tech-savvy youth, this will be a golden era. A corpus of Rs 1 lakh crore will be established with a 50-year interest-free loan provided. It will be for long-term financing or re-financing with low or nil interest rates."
Union Finance Minister also said, "Our government plans to set up more medical colleges by utilizing the existing hospital infrastructure under various departments. A committee for this purpose will be set up to examine the issues and make relevant recommendations."
"A new scheme will be launched for strengthening deep-tech technologies for defense purposes and expediting self-reliance," she added.
Moreover, Union Finance Minister Nirmala Sitharaman said, "Through roof-top solarisation, 1 crore households will be enabled to obtain up to 300 units of free electricity every month. This scheme follows the resolve of the Prime Minister on the historic day of the consecration of Shri Ram Mandir in Ayodhya."
Finance Minister Nirmala Sitharaman also stated that "For further growth of agriculture sector, the government to further promote public & private investment in post-harvest activities." She also announced, "The health cover under the Ayushman Bharat scheme will be extended to all ASHA and Anganwadi workers and helpers."