Interim Budget 2024-25 Highlights: Complete Details

Finance Minister of India Nirmala Sitharaman presented the Interim Union Budget 2024-25 for the financial year 2024-25 in Parliament on 1 February 2024 at 11 am. This is the last budget of the second term of the Modi Government. The Union Budget 2024-25 session will run from January 31 to February 9, 2024. The budget session of Parliament began with the address of President Draupadi Murmu. On Wednesday, the President addressed both the houses of Parliament, Lok Sabha and Rajya Sabha.

Budget Session 2024-25 of Parliament

Finance Minister Nirmala Sitharaman presented the 6th budget of her tenure on 1 February 2024. Like last year, this budget is also going to be paperless. After the presentation in Parliament, the PDF of Budget 2024 is also available on the Union Budget mobile app. The Budget 2024-25 presented by FinGet Daily Current Affairs for UPSCance Minister Nirmala Sitharaman focuses on health and farmers. However, no change was made in the income tax slab. Lok Sabha elections are to be held this year, hence the interim budget 2024 has been released.

Highlights of Finance Minister Nirmala Sitharaman’s Speech

• Union Finance Minister Nirmala Sitharaman on Thursday said the Indian economy has undergone a profound transformation in the last 10 years under the leadership of Prime Minister Narendra Modi when the government introduced several pro-people reforms that were structural.
• In 2014 the country was facing major challenges, the government overcame those challenges and carried out structural reforms. Pro-people reforms were carried out, conditions for jobs were established, and the country gained a new sense of purpose and hope.
• The Finance Minister said that the government strengthened its mantra in the second term. By overcoming the challenges of the COVID-19 pandemic, we took a long step towards self-reliant India and laid the solid foundation of Amrit Kaal.
• India’s aspirations are high, it is proud of its present and it has hope and faith in its bright future. Development programs provided housing for all, water for every household, electricity for all, and cooking gas for all
• The government is working towards all-round, all-inclusive and omnipresent development. We are working towards making India a developed India by 2047.

While presenting the budget, Nirmala Sitharaman said

• The work of building 3 crore houses under PM Awas Yojana (Rural) was completed. 2 crore more houses will be built in the next 5 years.
• 4 crore farmers have benefited from the PM Fasal Yojana.
• No change in income tax.
• 1 crore taxpayers will get the benefit.
• Nano DAP will be used on different crops in agro-climatic zones.
• For the safety, convenience and comfort of passengers, 40,000 ordinary railway bogies will be converted to Vande Bharat standards.
• Under Pradhan Mantri Awas Yojana, two crore more houses will be built in rural areas in the next 5 years.
• Every month 300 units of electricity will be provided for free.
• Three rail corridors will be started.
• 40 thousand ordinary railway coaches will be changed to Vande Bharat.
• Women’s entrepreneurship increased by 28%.
• More than 1000 new aircraft were ordered in the country.
• 4 crore farmers got the benefits of Crop Insurance.
• Girls of 9-14 years of age will be vaccinated to prevent Cervical Cancer.
• Now all Asha workers and Anganwadi workers will get the benefits of Ayushman Bharat.
• We believe in empowering the poor. Poverty has been reduced due to government schemes.
• Farmers are our food providers. Financial assistance is given under Kisan Samman Yojana. Many types of assistance are being provided to the farmers.
• Empowering the youth. There has been a change in the National Education Policy. To provide a good education for the development of children.
• With the mantra of Sabka Saath, Sabka Vikas, the government overcame the challenges and the economy got new strength – Finance Minister.
• 11.8 crore farmers have benefited from PM Kisan Samman Nidhi Yojana.
• More than 4 crore farmers have benefited from the crop insurance scheme. 38 lakh farmers benefited from the PM Kisan Sampada Yojana.
• The goal of develop India by 2047.

All-party meeting before the budget session of Parliament

Before the budget session of Parliament, an all-party meeting was called under the chairmanship of Parliamentary Affairs Minister Pralhad Joshi. The budget session will begin on Wednesday with President Draupadi Murmu’s address and is likely to end on February 9. The Union Finance Minister Nirmala Sitharaman will present the interim Union Budget on Thursday. The interim budget is generally presented keeping in mind the financial needs of the period between the Lok Sabha elections and government formation. These include meeting the disinvestment target and setting a three-year program for disinvestment.

India Budget 2024-25 Release Result Outline

Must Watch this Video

Must Read:

• India-Russia Relations: Economical, Political and Energy Relations
• Top 21 landmark Judgements of the Supreme Court (SC) of India