The Interim Budget 2024-25

 The Interim Budget 2024-25 was presented by India's Finance Minister Nirmala Sitharaman on February 1, 2024. This budget serves as a provisional financial plan for the first few months of the fiscal year, extending until the new government forms after the general elections. Key highlights from the budget include:


1. Fiscal Deficit & Borrowing: The fiscal deficit target for FY2024 is set at 5.8% of GDP, with a significant borrowing plan of ₹14.3 lakh crore for the coming fiscal year​​​​.



2. Capital Expenditure Focus: There is a 11.1% increase in capital expenditure, totaling ₹11.11 lakh crore (3.4% of GDP), highlighting the government's commitment to boosting infrastructure and development projects​​.



3. Taxation: While tax slabs remain unchanged, several tax exemptions were extended, such as incentives for startups and sovereign wealth funds, aiming to foster entrepreneurship and foreign investments​​.



4. Welfare Measures: Continuing the focus on inclusive growth, the budget allocates funds for food security and PM Kisan Yojana, benefiting millions of farmers. Social welfare schemes like the PM Awas Yojana (housing for all) also received support​​.



5. Infrastructure & Green Energy: The budget emphasizes investments in railway corridors, green energy initiatives, and projects that support tourism, housing, and the renewable energy sector​​.




The government's vision aligns with the goal of achieving a "Viksit Bharat" (Developed India) by 2047, focusing on infrastructure, energy security, and economic self-reliance.


For detailed insights and full budget analysis, you can visit the official announcements from the Ministry of Finance or follow detailed reports from Hindustan Times and Business Standard​​.


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