About Union Budget 2024
The budget concentrated on fiscal consolidation, infrastructure, agriculture, green growth, and railways. However, there were no increases to tax rates, which disappointed salaried individuals. The fiscal deficit target for FY25 was set at 5.1 percent of GDP, which was better than expected, but the FY24 objective was reduced to 5.8 percent. In FY25, the capex target was increased by 11.1% to ₹11.1 lakh crore.
The Indian economy has undergone a positive transition over the previous ten years. People are optimistic about the future. In 2014, the country faced huge challenges. In her budget address, Finance Minister Sitharaman stated that the Narendra Modi-led government overcame these issues through Sabka Saath and Sabka Vikaas. She also added that ‘We are working towards making India a Viksit Bharat by 2047’.
Key Highlights of Union Budget 2024-25
Key Highlights of Union Budget 2024-25: The Interim Union Budget for 2024-25 was presented in the Parliament on 1st February 2024. Finance Minister Nirmala Sitharaman submitted the Union Budget in Parliament earlier today. This was the sixth budget given by the current Finance Minister and the final one of Prime Minister Narendra Modi’s second term. The comprehensive budget will be delivered in July of 2024 after the new government is formed following the Lok Sabha elections.
In this article, we will look into the important highlights and analysis of the Union Budget 2024-25 in detail.