Finance Minister Nirmala Sitharaman presented the Interim Budget 2024 on February 1. Here are the key highlights and takeaways from her speech.
Sitharaman said that the government will not make any changes in the income tax slabs, rates, or exemptions for the next fiscal year. She also said that the GST rates will remain unchanged and the GST Council will continue to work on simplifying the tax system.
Sitharaman said that the government has pegged the fiscal deficit target at 5.1% of GDP for the financial year 2024-25, down from 6.8% in the current year. She said that the government will focus on fiscal consolidation and debt management in the medium term..
Sitharaman said that the government has pegged the fiscal deficit target at 5.1% of GDP for the financial year 2024-25, down from 6.8% in the current year. She said that the government will focus on fiscal consolidation and debt management in the medium term..
Sitharaman said that the government will continue to implement various welfare schemes for the women, farmers, and the poor sections of the society. She said that the government will increase the annual payments to female landowning farmers, extend the federal housing scheme, and provide free health insurance to the eligible beneficiaries..
Sitharaman said that the government will increase the capital expenditure target by 11.1% to Rs 11.11 lakh crore for the next fiscal year. She said that the government will also launch a scheme to promote innovation and research in various sectors, such as biotechnology, nanotechnology, and artificial intelligence..
Sitharaman concluded her speech by saying that the Interim Budget 2024 is a blueprint of the government’s intent and vision for the future.
She said that she expects the BJP government to come back with a resounding mandate in the upcoming elections. She urged the people to support the government and its policies.