In Pictures | Key features of Budget 2024-2025
As mentioned in the interim budget, the budget focuses on four major castes, namely 'Garib' (Poor), 'Mahilayen' (Women), 'Yuva' (Youth), and 'Annadata' (Farmer).
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Finance Minister Nirmala Sitharaman said it will focus on employment, skilling, MSMEs and the middle class.
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The Finance Minister also announced that the government will conduct a thorough review of the agricultural research system to boost productivity and create climate-resilient crop varieties.
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Sitharaman also unveiled Rs 2 lakh crore package for youth; focus on jobs, skilling and education.
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While presenting the Union Budget for 2024-25 in the Lok Sabha, Finance Minister stated that a social justice saturation approach would be implemented to ensure inclusive human resource development.
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To support MSMEs further, the budget proposes an increase in MUDRA loan limits, raising it from Rs 10 lakh to Rs 20 lakh under the 'Tarun' category.
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As India's urbanisation continues to rise, the Budget aims to further this progress by supporting urban development and leveraging cities as growth engines. The government also plans to expand the Pradhan Mantri Awas Yojana (PMAY) by making provision for 3 crore more houses under the scheme.
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For energy security, Sitharaman said that the government has received more than 1.28 crore registrations and 14 lakh applications under PM Surya Ghar Muft Bijli Yojana.
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Finance Minister Nirmala Sitharaman unveiled a substantial financial support plan of Rs 11,500 crore to improve flood control measures and irrigation projects in multiple states.
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The government has dedicated funds for the development of the Vishnupad Temple Corridor and the Mahabodhi Temple Corridor in Bihar along with developing tourism in Odisha.
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Sitharaman also announced that rural land-related procedures will now be assigned a unique land parcel identification number and a land registry will be established.
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Charts depicting robust economic foundations.
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Pursuing the agenda of simplifying taxation, Sitharaman outlined several measures in her Budget speech.
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Finance Minister Nirmala Sitharaman revises tax slabs, allowing salaried employees to save up to ₹17,500 in income taxes.
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In her seventh Union Budget presentation, Finance Minister Nirmala Sitharaman revealed a major cut in the defence budget, allocating Rs 4.54 lakh crore for FY25.
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Changes in allocations for major schemes.
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