{"id":4434,"date":"2024-02-02T17:14:28","date_gmt":"2024-02-02T11:44:28","guid":{"rendered":"https:\/\/nishantverma.in\/staging\/4777\/?p=4434"},"modified":"2026-01-22T13:48:13","modified_gmt":"2026-01-22T08:18:13","slug":"budget-2024-key-highlights","status":"publish","type":"post","link":"https:\/\/nishantverma.in\/staging\/4777\/budget-2024-key-highlights\/","title":{"rendered":"Highlights of Budget 2024"},"content":{"rendered":"\n

Introduction:<\/h2>\n\n\n\n

The Budget is like a big financial plan for the country. Budget Day in India is a big deal, and this year’s Budget 2024<\/a><\/strong> has some key points, even though it’s an Interim Budget<\/a><\/strong>. Let’s break budget highlights<\/strong> down in simple language.<\/p>\n\n\n\n

This year, instead of a full Budget, we have an Interim Budget <\/strong>due to upcoming elections. The Finance Minister<\/strong>, Smt. Nirmala Sitharaman<\/strong> shared the plan called “Viksit Bharat Budget 2024<\/strong>,” focusing on Atma Nirbhar Bharat or India’s self-reliance and the well-being of people with low incomes, women, youth, and farmers.<\/p>\n\n\n\n

Interim Budget 2024 Direct Taxes:<\/strong><\/h2>\n\n\n\n

No Tax for Low Incomes:<\/strong> You won’t have to pay any income tax if you earn up to Rs. 7 lakh.<\/p>\n\n\n\n

Corporate Taxes:<\/strong> Companies will have a 22% tax rate, and new manufacturing companies will have 15%.<\/p>\n\n\n\n

Budget Highlights Goods and Services Tax (GST):<\/strong><\/h2>\n\n\n\n

More Money Collected:<\/strong> The government collected double the monthly GST compared to before.<\/p>\n\n\n\n

Customs Rates Stay the Same:<\/strong> The rates for customs, like import duties, will remain as they are.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Visit Bharat <\/a>2047:<\/strong><\/h2>\n\n\n\n
    \n
  1. Four Pillars:<\/strong> The Budget 2024 focused on improving the lives of low-income people, women, youth, and farmers.<\/li>\n\n\n\n
  2. Infrastructure Boost:<\/strong> Plans to develop physical, digital, and social infrastructure.<\/li>\n\n\n\n
  3. Financial Inclusion:<\/strong> A plan to include more people in the formal economy.<\/li>\n\n\n\n
  4. Inflation Management:<\/strong> Taking steps to control rising prices.<\/li>\n<\/ol>\n\n\n\n

    Garib Kalyan, Desh ka Kalyan:<\/strong><\/h2>\n\n\n\n
      \n
    1. Direct Benefit Transfer (DBT):<\/strong> It saved a lot of Money – Rs. 2.7 lakh crore.<\/li>\n\n\n\n
    2. Reducing Poverty:<\/strong> 25 crore people moved out of poverty.<\/li>\n\n\n\n
    3. Help for Street Vendors:<\/strong> 78 lakh street vendors got credit assistance.<\/li>\n<\/ol>\n\n\n\n

      Empowering <\/a>the Youth:<\/strong><\/h2>\n\n\n\n
        \n
      1. Skill Development:<\/strong> Trained 1.4 crore young people under the Skill India Mission.<\/li>\n\n\n\n
      2. Entrepreneurship:<\/strong> 43 crore loans given under PM Mudra Yojana.<\/li>\n\n\n\n
      3. Financial Support:<\/strong> Rs.1 lakh crore fund for tech-savvy youth.<\/li>\n<\/ol>\n\n\n\n

        Welfare of Farmers (Annadata):<\/strong><\/h2>\n\n\n\n
          \n
        1. Financial Aid:<\/strong> 11.8 crore farmers got direct financial assistance.<\/li>\n\n\n\n
        2. Crop Insurance:<\/strong> 4 crore farmers got insurance under PM Fasal Bima Yojana.<\/li>\n\n\n\n
        3. Market Integration:<\/strong> 1,361 mandis connected under eNAM.<\/li>\n<\/ol>\n\n\n\n

          Nari Shakti:<\/strong><\/h2>\n\n\n\n
            \n
          1. Women Entrepreneurs:<\/strong> 30 crore Mudra Yojana loans for women.<\/li>\n\n\n\n
          2. Education:<\/strong> More women in higher education and STEM courses.<\/li>\n\n\n\n
          3. Self-Help Groups:<\/strong> 83 lakh groups helping one crore women become financially independent.<\/li>\n<\/ol>\n\n\n\n

            Sustainable Development\/Green Energy:<\/strong><\/h2>\n\n\n\n
              \n
            1. Environment Focus:<\/strong> Plans for “Net Zero” by 2070.<\/li>\n\n\n\n
            2. Wind Energy Support:<\/strong> Funding for offshore wind energy.<\/li>\n\n\n\n
            3. Coal Alternatives:<\/strong> Plans for coal gasification and liquefaction.<\/li>\n\n\n\n
            4. Electricity for Homes:<\/strong> Rooftop solar power for one crore households.<\/li>\n<\/ol>\n\n\n\n

              Infrastructure and Investment:<\/strong><\/h2>\n\n\n\n
                \n
              1. Railway Development:<\/strong> Three major energy, mineral, and cement corridor programs.<\/li>\n\n\n\n
              2. Foreign Investment:<\/strong> Encouraging investments from other countries.<\/li>\n\n\n\n
              3. Urban Projects:<\/strong> Improving airports, metro rail, and urban development.<\/li>\n<\/ol>\n\n\n\n

                Inclusive Development:<\/strong><\/h2>\n\n\n\n
                  \n
                1. Aspirational District Program:<\/strong> Helping districts develop faster.<\/li>\n\n\n\n
                2. Healthcare:<\/strong> Vaccination for cervical cancer, improving Anganwadi centres.<\/li>\n\n\n\n
                3. Housing:<\/strong> More houses for rural areas and a scheme for middle-class housing.<\/li>\n\n\n\n
                4. Tourism:<\/strong> Developing tourist centres in states and providing loans.<\/li>\n<\/ol>\n\n\n\n

                  Agriculture and Food Processing:<\/strong><\/h2>\n\n\n\n
                    \n
                  1. Post-Harvest Investment:<\/strong> Promoting investment after harvesting crops.<\/li>\n\n\n\n
                  2. Dairy Development:<\/strong> A comprehensive program for dairy development.<\/li>\n\n\n\n
                  3. Aquaculture Boost:<\/strong> Strengthening fish farming with new aquaparks.<\/li>\n<\/ol>\n\n\n\n

                    Allocations for Ministries and Schemes:<\/strong><\/h2>\n\n\n\n
                      \n
                    1. Money for Rural Employment:<\/strong> Rs.86,000 crore for job schemes.<\/li>\n\n\n\n
                    2. Health Scheme Funds:<\/strong> Rs.7,500 crore for Ayushman Bharat.<\/li>\n\n\n\n
                    3. Tech Incentives:<\/strong> Rs.6,200 crore for semiconductor development.<\/li>\n\n\n\n
                    4. Green Energy Support:<\/strong> Rs.8,500 crore for solar power.<\/li>\n<\/ol>\n\n\n\n
                      \"\"<\/figure>\n\n\n\n

                      Interim Budget vs. Full Budget:<\/strong><\/h3>\n\n\n\n

                      An interim budget is like a temporary financial plan until a new government is formed. It focuses on routine expenses, and major changes are usually off the table due to election rules.<\/p>\n\n\n\n

                        \n
                      1. Temporary Budget:<\/strong> It’s a placeholder until a new government is formed.<\/li>\n\n\n\n
                      2. No Big Changes:<\/strong> No major policy changes because of election rules.<\/li>\n\n\n\n
                      3. Vote on Account:<\/strong> Government can use Money for essential things until a new government takes over.<\/li>\n<\/ol>\n\n\n\n

                        Budget 2024 Expectations:<\/strong><\/h3>\n\n\n\n

                        Finance Minister<\/strong> Smt. Nirmala Sitharaman<\/strong> has kept expectations low, focusing on essential expenses. Some anticipated changes include ESOP taxation, home loan interest limits, medical insurance deductions, and more.<\/p>\n\n\n\n

                          \n
                        1. ESOP Tax Relaxation:<\/strong> Possible tax changes for employee stock options.<\/li>\n\n\n\n
                        2. Home Loan Limits:<\/strong> An increase in the limit for home loan interest deduction is possible.<\/li>\n\n\n\n
                        3. Medical Insurance Deduction:<\/strong> Including medical insurance in new tax rules.<\/li>\n\n\n\n
                        4. GST Return Revision:<\/strong> Possibly allowing changes in filed GST returns.<\/li>\n\n\n\n
                        5. E-Invoicing for B2C Transactions:<\/strong> Extending e-invoicing to business-to-customer transactions.<\/li>\n<\/ol>\n\n\n\n

                          Budget Highlights 2023: Recap<\/strong><\/h4>\n\n\n\n

                          The 2023 budget aimed for inclusive development, with growth in various sectors, new tax slabs, increased allocations for railways, defence, and initiatives for sustainable development.<\/p>\n\n\n\n

                          \"\"<\/figure>\n\n\n\n

                          Conclusion<\/strong><\/h4>\n\n\n\n

                          Budget 2024<\/strong> might not be a game-changer<\/a>, but it gives insights into the country’s finances and plans.<\/p>\n\n\n\n

                          In simpler words, the budget 2024 talks about taxes, development, support for farmers and women, youth empowerment, and plans for sustainable and inclusive growth. It’s like a roadmap for the country’s finances and future projects.<\/p>\n\n\n\n

                          This interim Budget 2024 gives us a snapshot of where the country’s Money is going and what the plans are. The real deal, the full Budget for 2024-25, will come after the elections with new ideas and goals. Stay tuned for the next chapter in India’s economic story after the elections, reflecting the new government’s vision.<\/p>\n","protected":false},"excerpt":{"rendered":"

                          Introduction: The Budget is like a big financial plan for the country. Budget Day in India is a big deal, and this year’s Budget 2024 has some key points, even though it’s an Interim Budget. Let’s break budget highlights down in simple language. This year, instead of a full Budget, we have an Interim Budget […]<\/p>\n","protected":false},"author":1,"featured_media":4436,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[59,49],"tags":[850,846,845,848,849,847],"class_list":["post-4434","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-beyond-news","category-news","tag-budget","tag-budget-2024","tag-budget-highlights","tag-finance-minister","tag-interim-budget","tag-nirmala-sitharaman"],"_links":{"self":[{"href":"https:\/\/nishantverma.in\/staging\/4777\/wp-json\/wp\/v2\/posts\/4434","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nishantverma.in\/staging\/4777\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nishantverma.in\/staging\/4777\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nishantverma.in\/staging\/4777\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nishantverma.in\/staging\/4777\/wp-json\/wp\/v2\/comments?post=4434"}],"version-history":[{"count":3,"href":"https:\/\/nishantverma.in\/staging\/4777\/wp-json\/wp\/v2\/posts\/4434\/revisions"}],"predecessor-version":[{"id":28070,"href":"https:\/\/nishantverma.in\/staging\/4777\/wp-json\/wp\/v2\/posts\/4434\/revisions\/28070"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nishantverma.in\/staging\/4777\/wp-json\/wp\/v2\/media\/4436"}],"wp:attachment":[{"href":"https:\/\/nishantverma.in\/staging\/4777\/wp-json\/wp\/v2\/media?parent=4434"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nishantverma.in\/staging\/4777\/wp-json\/wp\/v2\/categories?post=4434"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nishantverma.in\/staging\/4777\/wp-json\/wp\/v2\/tags?post=4434"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}