Interim Union Budget 2024-2025

Yesterday finance minister of India Smt. Nirmala Sitharaman presented interim Union Budget for 2024-2025.

Kotak Mutual Fund has created nice simplified easy to understand document explaining key point from the budget. This can also help investor in what they may do with their investments.

You can download your digital copy Interim Union Budget 2024-2025.

Major highlits of the Union Budget 2024-2025

• No Change in Personal Income Tax
• No changes in direct, indirect tax rates
• Viksit Bharat (Developed India by 2047) through social & geographical inclusivity, focusing on GYAN (Poor, Women, Youth and Farmers).
• FY24-25 capex target set at Rs 11.1 lakh crores, up 11.1% which is 3.4% of GDP.
• Revised estimate of fiscal deficit is 5.8% of GDP. The FY24-25 fiscal deficit target has been set at 5.1% of GDP & below 4.5 % by FY 2025-26.
• FY25 gross market borrowing pegged at Rs. 14.13 lakh crore, net borrowing at Rs. 11.75 lakh crores.
• Revised total expenditure for FY24 was pegged at ₹44.90 lakh crores.
• GIFT IFSC creating a robust gateway for global capital
• Rooftop solarization of 1 crore households will be enabled to get upto 300 units of free electricity per month leading to saving of Rs.15000-18000 savings per household per annum.
• Credit assistance to 78 lakhs street vendors under PM SVAnidhi.
• Ayushman Bharat scheme will be extended to ASHA and Anganwadi workers & helpers.
• Free cervical cancer vaccines for girls from 9-14 years of age

Source : https://www.indiabudget.gov.in