Hit or Miss? Decoding 7 Key Announcements of Interim Budget 2024

By Editorji News Desk
Published on | Feb 02, 2024

Union Budget 2024

FM Sitharaman presented her sixth consecutive Budget on Feb 1, 2024, ahead of Parliamentary elections. Here are some key highlights

FM trims Fiscal deficit

FM announced a fiscal deficit of 5.1% for 2024-25, down from 5.8% in the current year, with tax receipts projected at Rs 26.02 lakh crores

Tax rates unchanged

Finance Minister Nirmala Sitharaman made no changes in tax rates for direct and indirect taxes, including import duties

Green energy

FM Nirmala Sitharaman unveils financial aid for biomass-to-CBG conversion and mandates blending with natural gas, aiming to enhance energy security

Free cancer vaccination

In the interim budget, FM Nirmala Sitharaman announces a 3-year free cervical cancer vaccination drive for girls aged 9-14 against HPV

Houses to middle-class

Sitharaman also unveils a scheme to aid middle-class individuals in rented or slum dwellings to own a house. Plans to build 2 crore rural homes

Rooftop solar scheme

FM highlighted Pradhanmantri Suryodaya Yojana, offering one crore families up to 300 units of free electricity monthly, saving Rs 18,000 annually

Capital Expenditure hiked

FM Nirmala Sitharaman raised next fiscal's capital expenditure by 11% to Rs 11.11 lakh crore to sustain robust economic growth

6th Budget in a row

FM Sitharaman presented her 6th consecutive Budget ahead of elections, matching former PM Desai's record. Full Budget expected in July post new govt