THE INTERIM UNION BUDGET 2024–25

OVERVIEW OF THE INTERIM UNION BUDGET 2024–25 

7.3 PERCENT GROWTH IS PROJECTED FOR INDIA'S REAL GDP IN FY 2023–2024



The interim union budget for 2024–2025 is presented in parliament by SMT Nirmala Sitharaman, Minister of Finance and Corporate Affairs.



The amount allocated for capital expenditures in the upcoming year has been increased by 11.1 percent to RS 11,11,111 crore, or 3.4 percent of GDP.



It is projected that the fiscal deficit in 2024–2025 will be 5.1% of GDP.



FDI was twice as high in 2014–23 as it was in 2005–14, totaling USD 596 billion.



The government's top priority is the elevation of "GARIB" (poor), "MAHILAYEN" (WOMEN), "YUVA" (YOUTH), and "ANNADATA" (FARMER).



There will be an establishment of a CORPUS OF RUPEES ONE LAKH CRORE WITH A FIFTY-YEAR LOAN WITH NO INTEREST FOR YOUTH



This year, a 50-year interest-free loan scheme for capital expenditures to the states would be carried out, with a total outlay of RS 1.3 lakh crore.



THE GOVERNMENT IS USING AN ALL-ROUND, ALL-PERVASIVE, AND ALL-INCLUSIVE DEVELOPMENT APPROACH (सर्वांगीण, सर्वस्पर्शी और सर्वसमवेशी).



Several announcements and strategies outlining the direction and development approach for India's transformation into Viksit Bharat by 2047 are contained in the budget.



TO MAKE THE EASTERN REGION AND ITS PEOPLE A POWERFUL DRIVER OF INDIA'S GROWTH, THE GOVERNMENT WILL PAY THE MOST ATTENTION



A HIGH-POWERED COMMITTEE WILL BE FORMED BY THE GOVERNMENT TO CONSIDER THE DIFFICULTIES ARISING FROM RAPID POPULATION GROWTH AND DEMOGRAPHIC CHANGES IN DETAIL.



INTERIM BUDGET: NO CHANGE PROPOSED IN TAX RATES.



ABOUT ONE CRORE TAXPAYERS ARGUED TO GET BENEFITS FROM CERTAIN PETTY AND DISPUTED DIRECT TAX DEMANDS BEING WITHDRAWN.



NOW AND THEN, THE GOVERNMENT WILL LAY WHITE PAPER ON THE INDIAN ECONOMY