Budget 2024: Enabling the Nation's Possibility.

Budget 2024 reflects a comprehensive approach to economic management, focusing on long-term growth, social equity, and environmental sustainability.

Finance Minister Nirmala Sitharaman has unveiled the Union Budget for 2024, a forward-looking blueprint designed to drive economic growth and social advancement in India. Despite global uncertainties, India continues to demonstrate remarkable resilience, characterized by robust economic growth and controlled inflation.

Social Justice and Inclusion:

·???????? Continued focus on uplifting the marginalized, including the poor, women, youth, and farmers.

·???????? Financial assistance and support schemes like PM-KISAN, PM Awas Yojana, and PM-Vishwakarma Yojana were emphasized for economic empowerment.

Infrastructure and Development:

·???????? The capital expenditure outlay increased by 11.1% to ?11.11 lakh crore, focusing on infrastructure projects like the expansion of the rail network, including converting 40,000 bogies to Vande Bharat trains.

·???????? Expansion of airports and introduction of new flight routes were planned to enhance connectivity.

Economic and Fiscal Policies:

·???????? The fiscal deficit target was set at 5.1% of GDP for FY25, with a long-term goal of reducing it to 4.5% by FY26.

·???????? No changes were made to the tax rates for direct and indirect taxes, maintaining stability in the tax regime.

Support for Women and Rural Development:

·???????? The 'Lakhpati Didi' scheme aims to empower rural women, enhancing the target from 2 crore to 3 crore beneficiaries.

·???????? The budget also highlighted the government's efforts to promote female education and entrepreneurship.

Green Initiatives:

·???????? Continued support for electric vehicles and renewable energy projects to promote sustainable development.

Tax and Compliance:

·???????? Significant improvements in tax administration, including faster processing of tax returns and reduced compliance burdens under GST.