Budget 2024: The Key Takeaways

Finance Minister Nirmala Sitharaman presented the interim budget today. While the full budget for the next fiscal will be presented after the general election, Sitharaman made some key announcements and offered a glimpse of the government's road map for FY25, even if proposals may come during the year.

Fiscal Consolidation On Track

The Finance Minister said that FY24 fiscal deficit is estimated at 5.8% of GDP, below the budgeted 5.9%. She pegged the FY25 target at 5.1%, with an aim to reduce it to 4.5% by FY26.

You can read the full story here.

Positive Surprise On Borrowings

FY25 gross market borrowings have been pegged at Rs 14.13 lakh crore, lower than a number of Rs 15 lakh crore that economists had expected. Net borrowings seen at Rs 11.75 lakh crore.

For more on that, read this story.

New Innovation Fund

The government plans to set up a Rs 1 lakh crore corpus to back innovation. This includes 50-year interest-free loan, long-term financing or refinancing with long tenures with low or nil interest rates. The move is aimed at encouraging the private sector to scale up research and innovations "significantly in sunrise domains", Sitharaman said.

Read more here.

No Change In Taxes

You can also read other key highlights here.

Also, watch this video

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For all other in-depth coverage, analysis, and insights into what the #Budget2024 announcements signify tune in to www.ndtvprofit.com and stay tuned for our next edition!