Budget 2024 Summary India Budget 2024 PDF Download key points of budget 2024

Budget 2024 Budget 2024 Key Points Summary India Budget 2024 PDF Download

Budget 2024 PDF Download

The government recently presented the Interim Union Budget for the financial year 2024-25 in Parliament. This marks the sixth budget under Finance Minister Nirmala Sitharaman and the last one before the end of Prime Minister Narendra Modi’s second term.

The full budget will come in July, once the new government forms after the Lok Sabha Elections. The budget focused on managing money, building things like roads and farms, growing renewable energy, and making trains better. However, there were no changes to how much tax people pay, which made some people who work for a salary unhappy.

The government aims to spend money carefully while making sure there’s enough for important things like schools and hospitals. The target for how much money the government will spend compared to how much it earns, called the fiscal deficit, is set at 5.1 percent of the money the country makes. Also, the plan for spending on things like building roads and schools is increased by 11.1 percent to ₹11.1 lakh crore.

Finance Minister Sitharaman said, “India has improved a lot in the last 10 years. In 2014, we faced many problems, but with everyone’s help, we overcame them.” She believes the next 5 years will bring big changes and wants India to become a developed country by 2047.

Experts think this budget meets their expectations. Pradeep Gupta from Anand Rathi Group said, “The government continues to focus on making India better by investing in things like roads, farms, and tourism. Keeping our spending in check also makes investors happy.”

Here are 14 key points from the Budget 2024:

1. Income Tax: Tax rates remain the same. Tax collections have doubled in the last 10 years, and the time it takes to process tax returns is now shorter.
2. Infrastructure Development: The government plans to spend more money on building things like roads and schools.
3. Railways: Many regular train cars will be changed to better ones, improving safety and comfort. New railway lines will be built in important areas.
4. Lakhpati Didi Scheme: More women in villages will be given money to help them become financially independent.
5. Electricity: More households will get free solar power, which will save them money.
6. Green Energy: Plans are made to use more wind energy and reduce the need for imported natural gas.
7. Electric Vehicles: The government will support making more electric cars and trucks, and make it easier to charge them.
8. Tourism: States will improve popular tourist spots and get loans to make them better. This will create more jobs.
9. Promoting Investments: The government wants more foreign companies to invest in India. They are working on agreements to make this happen.
10. Technology: New technology will be encouraged, and money will be given to businesses to do more research.
11. Ayushman Bharat: More healthcare benefits will be given to people who work in community health centers.
12. PM Awas Yojana (Grameen): More houses will be built for people who need them.
13. MSME: Small businesses will get help to grow and compete globally.
14. Agriculture and Food Processing: Farmers will get support to increase their income, and food processing will be improved.

The government also shared some important financial numbers:

• The fiscal deficit target for FY25 is 5.1 percent of GDP.
• Capital spending for FY25 is set at ₹11.1 lakh crore.
• The government plans to spend ₹30.80 lakh crore in FY25.
• It expects to collect ₹26.02 lakh crore in taxes in FY25.
• These numbers show how the government plans to spend and earn money in the coming year.

budget 2024 tax relief

Tax rates remain the same. Tax collections have doubled in the last 10 years, and the time it takes to process tax returns is now shorter.

budget 2024 summary India

• Income Tax: Rates unchanged, collections doubled in 10 years, quicker returns.
• Infrastructure: More spending on roads and schools.
• Railways: Upgrading trains, new lines in key areas.
• Lakhpati Didi Scheme: Empowering rural women financially.
• Electricity: More households to get free solar power.
• Green Energy: Promoting wind energy, reducing gas imports.
• Electric Vehicles: Supporting electric vehicle production and charging.
• Tourism: Improving tourist spots for job creation.
• Investments: Encouraging foreign investments.
• Technology: Supporting innovation and research.
• Ayushman Bharat: Extending healthcare benefits.
• PM Awas Yojana: Building more houses for those in need.
• MSME: Helping small businesses compete globally.
• Agriculture: Supporting farmers and improving food processing.

Budget 2024 pdf download

Pdf download here

Budget 2024 for salaried employees

Tax rates remain the same. Tax collections have doubled in the last 10 years, and the time it takes to process tax returns is now shorter. budget highlights for salaried employees

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