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Legislative Corner

2024 Budget Highlights: A glance at FM Nirmala Sitharaman's speech

By Mahima Katal      Feb 01, 2024      0 Comments
2024 Budget Highlights: A glance at FM Nirmala Sitharaman's speech

New Delhi: Finance Minister Nirmala Sitharaman on February 1 presented the country's interim Budget. While presenting the Union Interim Budget 2024-25 at the Parliament, FM Nirmala Sitharaman said that the Indian economy witnessed a profound positive transformation in the last ten years.

Here are key highlights of the Budget speech: 
- No changes were introduced to tax slabs.

- “Through roof-top solarisation, 1 crore households will be enabled to obtain up to 300 units of free electricity every month. This scheme follows the resolve of the Prime Minister on the historic day of the consecration of Shri Ram Mandir in Ayodhya.”

- Finance Minister announced 2 crore more houses under the Pradhan Mantri Awas Yojana - Gramin ( PMAY-G).

- “For our tech-savvy youth, this will be a golden era. A corpus of Rs 1 lakh crore will be established with 50-year interest free loan provided. The corpus will provide long term financing and re-financing with long tenures at low or nil interest rates. This will encourage the private sector to scale up research and innovation significantly in sunrise domains,” Finance Minister Sitharaman highlighted.

- "In the full Budget in July, our government will present a detailed roadmap for our pursuit of 'Viksit Bharat'. Revised estimates of 2023-24: The revised estimates of the total receipts other than borrowings Rs 27. 56 lakh crore of which the tax receipts are Rs 23.24 lakh crore," Finance Minister Sitharaman said. 
- Ministry of Finance projected that the Indian economy is likely to grow at over 7 per cent in the coming years and is expected to become the third-largest economy in the world in the next three years, with a GDP of $5 trillion.

- Our government is ready to assist states in the faster development of aspirational districts and blocks.

Notably, this is Nirmala Sitharaman's sixth Union Budget. The full-fledged budget will be presented by the new government that comes to power after the elections.

The Budget Session began on January 31st with President Droupadi Murmu addressing the joint meeting of both Rajyya Sabha and Lok Sabha. The session will conclude on February 9.

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