HIGHLIGHTS OF UNION BUDGET – 2024

 

HIGHLIGHTS OF UNION BUDGET – 2024

1. Rs. 1.52 lakh crore for Agriculture and allied sectors

2. 3 new schemes for job creation in manufacturing

3. 20 lakh youth will be skilled over 5 years

4. 1,000 training institute will be updated to the skills needs of the industries

5. Skilling loans will be revised loans upto Rs. 7.5 lakh rupee will help 25,000 students every year

6. Educational loans upto 10 lakhs for higher education in domestic institutions.

7. Annual interest subvention of 3% of loan amount

8. 1 month wages for person entering formal job sector will be supported by government

9. Highways in Bihar worth Rs. 26,000 crore to be made

10. Rs. 15,000 crore for Andhra Pradesh

11. 3 crore houses under PM Awas Yojana

12. 3 lakh crore for benefitting women’s and girls

13. Rs. 2.66 lakh crore for Rural Development

14. Mudra loans to Rs. 20 lakhs from Rs. 10 lakhs

15. Credit Guarantee schemes for MSME extended to Rs. 100 crore

16. Setting of 100 food and safety labs

17. 28000 cases disposed off before submission to NCLT

18. Rs. 2.2 lakh crore towards URBAN support central assistance

19. Rs. 11 lakh crore for CAPEX expense which is 3.4% of GDP

20. Urban housing outlay plan of Rs 10 lakh crore

21. State capex loan at Rs. 1.5 lakh crore

22. 50 year interest free loans to state

23. 1000 crore fund for venture capital for Space Economy

24. New Economic Policy Framework for Land, Labour, Capital and Entrepreneur

25. Land records for urban areas will be digitized

26. Financial sector vision and strategy to be framed

27. Fiscal deficit is estimated 4.9% of the GDP

28. Gross and net market borrowing at 14.01 lakh core and 11 lakh crore both less than 2023-24

29. Fiscal deficit to be less than 4.5% next year 2025

30. NPS for minors with contribution from Parents

31. Custom duty on mobile phone and charger to be reduced to15%

32. Receipts at 32 lakh crore and expenditure 48 lakh crore

33. Custom duty on gold and silver reduced to 6%

34. TDS one commerce reduced from 1% to 0.1%

35. LTCG hiked to 12.5% from 10%

36. STCG hiked to 20% from 15%

37. Angel tax abolished for all investors

38. Corporate tax on foreign companies reduced to 25% from 40%

39. New tax regime standard deduction 50k to 75 k

40. 15k to 25k new tax regime

41. STT also increased 0.02% and 0.1%

42. New tax regime will save RS. 17,500 in income tax