Budget 2024 is already announced by Finance Minister Nirmala Sitharaman on 23rd of July 2024. Here are 10 major big announcements for the common man of India. Tap to checkout!
Finance minister announced changes in new tax regime. One has to pay zero tax up to 0-3 lakh income. While above this, there are different slabs that people have to follow.
Sitharaman introduced a PM package with five schemes that aim to boost employment and skilling. This initiative aims to benefit 2.1 lakh youth.
The budget prioritised women's participation, with over ₹3 lakh crore allocated for benefiting women and girls, including setting up hostels and creating women-specific skilling programs.
FM announced that ₹1.52 crore will be allocated to the agriculture sector and ₹2.66 lakh crore will be given to rural development.
The budget also includes development plans for Bihar like airports, medical facilities, sports, and highway infrastructure. ₹26,000 crore are given to Bihar & ₹ 15,000 crore given to Madhya Pradesh.
Sitharaman also introduced a new scheme to facilitate Loans for MSMEs to purchase machinery equipment. ₹100 crore was allotted for the manufacturing sector.
The limits for mudra loans will be increased to ₹20 lakh from 10 lakh. Financial support For higher education will be provided. A tech platform will be created to improve bankruptcy.
Talking about the country's infrastructure, ₹26,000 crore will be allocated to road projects. The mission of recycling and affordable housing is in plan. ₹10 lakh crore will be invested to address 1 crore urban poor and middle-class families.
FM also announced that the government will partner with the private sector to research and develop nuclear energy and new technology. They invest ₹1000 crore for this project.
Few things that will be cheaper such as gold, silver, leather, clothes, electric vehicles, mobile phones, solar panels, x-ray machines, etc. Cigarettes, plane tickets, plastic things, and petrochemicals will be expensive.
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