Budget 2024: Finance Minister announced 24 major changes

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Finance Minister Nirmala Sitharaman has presented the interim budget for 2024 in Parliament. In this interim budget, the government has made several announcements that will directly impact the common people’s pockets. However, there is disappointment among people on many fronts, such as taxes. Here are some key points mentioned by the Finance Minister during her budget speech:

1. Disappointment for Taxpayers: – Relief for income tax defaulters. Those with outstanding amounts up to 25,000 until 2009-10 will be forgiven. – Outstanding amounts up to 10,000 from 2010 to 2015 will be forgiven. – Faster processing for tax refunds. The tax refund process will now take 10 days instead of 93 days. – No changes in direct taxes. No relief for taxpayers under section 80C. No changes in income tax rates.

2. Expansion of Metro Connectivity: – The scope of metro and Namo Bharat (an initiative) will increase. Expansion of connectivity to cities around major metropolitan areas. Assistance in reducing traffic on roads.

3. Increased Expenditure on Infrastructure: – Increased spending on the basic framework sector. Infrastructure spending will increase by 11%, totaling 11.11 lakh crores. – Infrastructure development will boost the economy. Help in attracting foreign investments.

4. Major Announcements in the Budget: – A total budget of Rs 47.60 lakh crore, an increase of Rs 2.57 lakh crore from the previous year. – Anticipation of reducing the fiscal deficit. – Development of EV infrastructure in the country. – 517 new routes under the Udaan scheme. – Expansion of the Lakhpati Didi scheme. – Strategy for self-reliance in the Tilhan sector. – Conversion of 40,000 general rail coaches to Vande Bharat Standard. – Construction of three new rail corridors. – Initiation of the Cervical Cancer Vaccination Mission. – Establishment of medical colleges in existing district hospitals. – Scheme for dairy farmers. – Special housing scheme for the middle class. – Continuation of the PM housing scheme in rural areas. – Emphasis on rural development. – Expansion of the Ayushman Bharat scheme. – Installation of rooftop solar plants on homes. – Continuation of the rural development scheme. – Construction of 3 crore new houses, with a target of 2 crore houses in the next five years.