- By Aditya Pratap Singh
- Fri, 02 Feb 2024 03:23 PM (IST)
- Source:JND
Budget 2024: As expected Interim Budget 2024 did not make any major announcements, but the Modi government continued its focus on infrastructure renovation and connectivity across the nation. Finance Minister Nirmala Sitharaman delivered her sixth consecutive Budget and made some relief for the middle class before the general elections.
Rooftop solar and free electricity
Sitharaman announced that one crore households nationwide will benefit from rooftop solarisation, which provides up to 300 units of free electricity per month. This will lead to savings of up to Rs. 15,000 - Rs. 18,000. Sitharaman said it will allow selling surplus electricity to discoms.
House for the middle class
As it was an interim budget, everyone was sure of not getting any heavy welfare schemes. The Finance Minister did adhere to the same expectations, but she did not miss a chance to woo the middle class ahead of the general elections. She proposed a scheme to help people living in rented accommodations or slums acquire their own homes.
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PM Awas Yojana (Gramin)
While appreciating her government efforts to provide homes to poor families in the last 10 years, she announced to building of 2 crore more houses for the poor living in rural areas in the next five years. The houses will be made under the continuing PM Awas Yojana (Grameen).
She said that despite challenges, the Modi government built close to 3 crore houses and now we aim to build 2 crore more houses in the next five years.
Tax benefits for start-ups
To extend tax benefits to startups for another year, the finance minister proposed a tax incentive for startups and investments made by sovereign wealth till March 2025.
No Change In Income tax
Presenting the interim Budget for 2024-25, Nirmala Sitharaman decided not to change income tax rates for individuals and corporations. She did not propose to change customs duty as well.