lets recape the highlights of budget 2024, controversies and surprises as Budget 2024 packs economic shock therapies and populist measures to woo voters ahead of elections.
The government aims to reduce the fiscal deficit to 5.9% of GDP in 2023-24 and further to 5.1% in 2024-25.
The budget proposes a hike in capital expenditure by 37.8% to ₹10 lakh crore, aiming to boost infrastructure development and economic growth.
No major changes in individual income tax slabs or rates.
Focus on simplification and rationalization of taxes.
New taxation scheme for startups with lower tax rates.
Increased tax deduction for capital expenditure in MSME sector.
Taxation
Launch of a new scheme to support deserving middle-class families for owning houses.
Focus on natural farming and agricultural innovation.
Allocation of ₹1.57 lakh crore for the agriculture sector.
Agriculture
Increased focus on skill development and vocational training.
Launch of a digital university to provide access to quality education for all.
Allocation of ₹1.10 lakh crore for the education sector.
Education
Vaccination against cervical cancer for girls aged 9 to 14.
Increased allocation for health infrastructure and medical research.
Allocation of ₹86,208 crore for the healthcare sector.
Healthcare
Scheme to strengthen deep tech for the defense sector.
Focus on renewable energy and green initiatives.
Measures to promote digitization in various sectors.