Union Budget 2024 Key Highlights

馃搳 Fiscal Deficit Target

路 Revised fiscal deficit for 2023-24 is 5.8% of GDP. 路 FY25 target: 5.1% of GDP. 路 Aim to reduce fiscal deficit below 4.5% in 2025-26.

馃挵 Income Tax

No changes to income tax slabs

馃搮 Tax Relief

路 Govt withdraws direct tax demands up to Rs 25,000 (up to FY 2009-10) and up to Rs 10,000 (FY 2010-11 to 2014-15). 路 Tax filers increased 2.4 times, and tax collection tripled since 2014.

馃殌 Start-up Support

Tax exemptions for start-ups extended till March 31, 2025.

馃殕 Railway Corridor Programs

路 Three major economic railway corridor programs announced. 路 Aims to improve logistics efficiency and reduce costs.

馃彔 Housing

2 crore more houses under Pradhan Mantri Awas Yojana 鈥 Gramin (PMAY-G).

馃捇 Tech Innovation

路 Rs 1 lakh crore corpus with a 50-year interest-free loan for tech innovation. 路 Focus on research and innovation in sunrise domains.

馃彌锔 Medical Colleges

Plans to set up more medical colleges using existing hospital infrastructure.

馃尀 Renewable Energy

路 Rooftop solarisation to enable 1 crore households to get 300 units of free electricity monthly. 路 Government aims for 'net zero' by 2070.

馃實 Tourism Boost

Long-term interest-free loans to states for tourism development.

馃搱 Economic Transformation

Positive transformation in the Indian economy in the last 10 years.

馃寪 Vision for India

路 Focus on 'Viksit Bharat' by 2047. 路 Emphasis on "Sabka Sath, Sabka Vikas." 路 Government's focus on GDP: Governance, Development, and Performance.