Highlights of the 2024 Union Budget: In her seventh consecutive budget, Finance Minister Nirmala Sitharaman outlined the government’s top priorities for 2024–2025. The nine priority areas she listed for the government are agriculture productivity and resilience, employment and skilling, inclusive human resource development and social justice, manufacturing and services, urban development, energy security, infrastructure, innovation, research and development, and next-generation reforms.
Highlights from Budget:
- Five schemes announced to focus on 4.1 crore youth over 5 years with outlay of ₹2 lakh crore
- Internship scheme for one crore youth in top companies over five years
- Employment-linked incentives, including one month’s wage support for first-time employees
- For MSMEs: Credit guarantee scheme and term loans for machinery purchase, technology support package for MSMEs
- SIDBI to open 24 new branches to serve MSME clusters
- Mudra loan limit increased from ₹10 lakh to ₹20 lakh
- Financial support for higher education loans up to ₹10 lakhs
- Provision for rural development at ₹2.66 lakh crore
- Special financial support of ₹15,000 crore for Andhra Pradesh
- New airports, medical facilities, and sports infrastructure for Bihar
- Inflation moving towards 4% target
- Over ₹3 lakh crore was allocated for schemes benefiting women and girls.
Live Budget 2024 Updates: Supriya Paul, the CEO and co-founder of Josh Talks, stated, “A major step towards Bharat’s development is represented by the Union Budget 2024–25.” As a significant step forward, removing the Angel Tax for all investors will guarantee that startups stay in India and grow there. A sizeable investment of ₹1.48 lakh crore has been made in employment, skills development, and education. By raising the standard of instruction and training, we are giving our children the tools they need to succeed.
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