Finance Minister Nirmala Sitharaman presented the Interim Budget 2024 in the Lok Sabha today. Earlier in the morning, the Union Cabinet met and gave the Budget their approval.
PM Modi emphasized the empowering nature of the budget, focusing on the four pillars of a developed India – the youth, poor, women, and farmers. He stated that this budget is a transformative step for India’s future, laying the groundwork for a ‘developed India by 2047’.
Highlighting key decisions, PM Modi mentioned the creation of a Rs. 1 lakh crore fund for research and innovation and tax exemptions for startups.
He also stressed the historic allocation of Rs. 11.11 lakh crore for capital expenditure, calling it a “sweet spot” that will not only enhance 21st-century infrastructure but also generate numerous jobs for the youth.
Addressing infrastructural aspects, PM Modi pointed out that the budget includes attaching 40,000 Vande Bharat bogies to regular trains, providing passengers with a comfortable journey on various routes.
For the poor, the government aims to build 2 crore additional houses in villages and urban areas, along with a promise to increase the number of Lakhpiti Didis to 3 crore.
PM Modi highlighted the budget’s focus on empowering the poor and the middle class, offering income-generation opportunities. He specifically noted key announcements benefiting farmers and the poor, such as Rooftop solarization providing free electricity to 1 crore families and the income tax remission scheme offering relief to 1 crore middle-class individuals.
Discussing agricultural measures, PM Modi pointed out significant initiatives like the utilization of NANO-DP, schemes for cattle, the expansion of PM Matsya Sampada Yojana, and the Atma Nirbhar Oil Seed Abhiyaan. These initiatives are aimed at increasing farmers’ income and reducing their expenses.
The Union Budget Mobile App offers access to the Budget 2024 in a “paperless format.” This bilingual app, which supports both English and Hindi, is downloadable on Android, iOS, or from the Union Budget Web Portal (www.indiabudget.gov.in). As per constitutional requirements, this Government of India app contains crucial Budget documents such as the Annual Financial Statement, Demand for Grants, and the Finance Bill.
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