UNION BUDGET 2024 : Key Highlights

India's Finance Minister, Nirmala Sitharaman, presented the Interim Budget for the upcoming fiscal year starting April 1, 2024. Aligning with expectations for fiscal prudence, New Delhi maintained existing tax slabs and refrained from major announcements as the Modi government aims for a third term post the Lok Sabha elections in April-May.




Key Points from Interim Budget 2024

  • Fiscal deficit target for FY25 set at 5.1%, FY24 aim revised to 5.8% from 5.9%.
  • Capex outlay of Rs 11.11 lakh crore.
  • Tax receipts for 2024-25 are projected at Rs 26.02 lakh crore.
  • Divestment target of Rs 50,000 crore for FY25.
  • Railways to get Rs 2.55 lakh crore, up from the previous year's high of Rs 2.4 lakh crore.
  • Gross market borrowing target for FY25 pegged at Rs 14.13 lakh crore.
  • Nominal GDP growth seen at 10.5%.
  • PLI scheme gets Rs 6,200 crore.
  • Health sector to get Rs 90,170 crore, 13.8% higher than RE of Rs 79,220 crore for 2023/24.
  • The education budget for 2024/25 seen at Rs 1.25 lakh crore.

Income Tax Slabs - What you've been waiting for

No income tax slab benefits for you Direct and indirect tax including import tax rates left unchanged All outstanding disputed direct tax demands up to Rs 25,000 withdrawn


Housing Scheme - Pride of your own home

  • Middle class to get a new housing scheme
  • Govt to build 2 crore houses under PM Aavas Yojana
  • 10 million houses to get free electricity via rooftop solar programme

Capex Target - That's crucial for India's growth

  • Capex target raised by 11.1% to Rs 11.11 lakh crore.
  • On-year jump in capex target down from 37% spike in last Budget, as government restricted public spending.

Tax Targets - Govt needs to earn for our development

  • Total revenue receipts for FY25 are estimated at 30 lakh crore rupees, up from revised estimate of 26.99 lakh crore rupees in FY24.

Tourism - Plan a trip to Lakshwadeep

  • Interest-free loans to states to promote tourism
  • Funds will be provided for the development of tourism in Lakshadweep

Defence - Securing our borders

  • Defence budget up by 4% to Rs 6.2 lakh crore from Rs 5.94 lakh crore

Healthcare - Because health is wealth

  • Healthcare facilities under Ayushman Bharat will be extended to all Aasha workers, Aanganwadi workers.
  • The government plans to set up hospitals in all districts.
  • Vaccination of 9-14-year-old girls for cervical cancer.

Aviation Plan - More Indians want to fly

  • 517 new routes to be launched under the Udan Scheme
  • Defence allocation increased by nearly 20 per cent to Rs 6.22 lakh crore

Allocation for schemes - Some welfare work

  • The government has hiked allocations for at least five major schemes for FY25
  • MNREGA - Allocation hiked by 43.3% to Rs 86,000 crore
  • Ayushman Bharat-PMJAY - Allocation up 4.2% to Rs 7,500 crore
  • PLI Schemes - Allocation hiked by 33.5% to Rs 6,200 crore




Location: 44WQ+V2 Posari, Maharashtra, India

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