Budget 2024: will show a new direction for the Indian market
Budget 2024: Finance Minister Nirmala Sitharaman presented the first budget of the third term of the Modi government in Parliament.
Budget 2024: Finance Minister Nirmala Sitharaman presented the first and seventh consecutive Union Budgets for the third term of the Modi government during the monsoon session of Parliament. Many important announcements have been made in this budget, but no major policy changes or new benefits have been seen for the middle class. The Finance Minister said that first-time entrepreneurs will be given a one-month salary with DBT of up to Rs 15,000, and the eligibility limit will be Rs 1 lakh per month. This will benefit 210 lakh youth.
The manufacturer has also talked about incentives regarding employment generation in the manufacturing sector and EPFO contribution. The tradition of red leather briefcases will continue in the budget, but now it has become digital.
Special announcements for Bihar
In Budget 2024, Finance Minister Nirmala Sitharaman has made many important announcements, keeping in mind the development of Bihar. These announcements include improvements in medical facilities, infrastructure, sports development, and transportation. Let us know in detail about the specific announcements made for Bihar.
1. Regarding the establishment of new airports
New airports will be set up in Bihar, which will improve connectivity with the state. This will not only boost tourism and trade but will also strengthen the economic condition of the state.
2. About improvement in medical facilities
Special provisions have been made in the budget to improve medical facilities. The existing facilities will be enriched along with the establishment of new hospitals and health centers. With this, the people of the state will be able to get better health services and access to health facilities will increase.
3. About the development of sports infrastructure
Special provisions have also been made for the development of sports infrastructure in Bihar. New stadiums, sports complexes, and training centers will be established so that the youth of the state can get more and more opportunities to progress in the field of sports.
4. Regarding expansion and improvement of highways
Rs 26,000 crore has been distributed for the development of highways in Bihar. This will improve the transportation system of the state and people will get better facilities during travel. Besides this, trade and industries will also benefit, as good roads will facilitate the movement of goods and services.
5. About schemes for rural development
Many schemes will be launched for the development of rural areas of Bihar. Infrastructure, education, health, and employment opportunities in rural areas will be improved. This will improve the standard of living of the people of rural areas, and they will get a chance to live a better life.
6. About reforms in the agriculture sector
Many announcements have also been made in the budget for the farmers of Bihar. New schemes will be implemented for the development of the agricultural sector so that the income of farmers can increase. Under this, modern farming techniques will be promoted, and farmers will be provided financial assistance.
7. About education and skill development
Special provisions have also been made for education and skill development in Bihar. New schools, colleges, and skill development centers will be established. Along with this, the facilities of existing educational institutions will also be upgraded. With this, the youth of the state will get better education and employment opportunities.
Conclusion
The special announcements made for the development of Bihar in Budget 2024 will play an important role in the overall progress of the state. Under these announcements, improvements will be made in the areas of infrastructure, medicine, education, sports, and agriculture, which will provide a better standard of living to the people of Bihar. These announcements made by Finance Minister Nirmala Sitharaman are an important step towards the development of the state and will also strengthen the economic condition of Bihar.
Education and skill development
Budget 2024 has a specific focus on education and skill development. Finance Minister Nirmala Sitharaman has made several important announcements to reform and expand this sector, which will help in strengthening the youth of the country and preparing them for the future.
About loan facility for higher education
The government has announced that it will provide financial assistance for loans up to Rs 10 lakh for higher education in domestic institutions. This scheme will help students realize their educational dreams and get a chance to pursue higher education without financial constraints.
About Model Skill Loan Scheme
The Model Skill Loan Scheme will be modified to provide loan facilities up to Rs 7.5 lakh. The objective of this scheme is to encourage the youth to participate in various skill development programs so that they can be successful in their careers and get new employment opportunities.
Regarding the establishment of new schools and colleges
Specific provisions have been made in the budget for the establishment of new schools and colleges. This will develop infrastructure in the field of education and more students will get a chance to get quality education.
The expansion of digital education
The government has launched many programs to promote digital education. Under this, online learning platforms and digital classrooms will be established, which will allow students to get an education using modern technologies.
Conclusion
Budget 2024: These important provisions made for education and skill development in Budget 2024 are a big step towards making the youth of the country self-reliant. This will not only provide opportunities for higher education and skill development for the students but will also contribute to the economic and social progress of the country.
Employment creation and manufacturing
Important announcements have been made in the field of employment generation and manufacturing in Budget 2024, which will help stimulate the economic growth of the country and provide new employment opportunities to the youth. Finance Minister Nirmala Sitharaman has announced several initiatives in this area.
About the development of the manufacturing sector
The government has announced several policy reforms and incentives to promote the manufacturing sector. Under this, production-linked incentive (PLI) schemes will be implemented, which will encourage domestic industries and enable them to make their mark in global competition. This will not only expand manufacturing but will also create lakhs of new employment opportunities.
Regarding specific focus on employment generation
Rs 2 lakh crore will be spent on employment generation in the next five years. In this budget, specific schemes will be implemented to provide new employment opportunities for youth. These include skill development programs, apprenticeship schemes, and incentives for small and medium industries.
Regarding specific provisions for MSMEs
Specific provisions have also been made for the development of micro, small, and medium enterprises (MSMEs). MSMEs will be provided affordable financial facilities and technical assistance so that these enterprises can increase their production and create more employment opportunities.
About incentives to startups
Specific schemes have also been included in the budget for startups. Funds and resources will be arranged to encourage new technologies and innovations. This will help young entrepreneurs take their businesses forward and create new employment opportunities.
Conclusion
Budget 2024: These announcements made in Budget 2024 for employment generation and the manufacturing sector will play an important role in promoting the economic progress of the country. This will not only lead to the development of industries, but the youth will also get more employment opportunities, which is necessary for the overall development of the country.
Agricultural sector reforms
Many important announcements have been made in Budget 2024 to improve the agriculture sector. Finance Minister Nirmala Sitharaman has announced various schemes to increase the income of farmers, boost agricultural production, and make agriculture sustainable and profitable.
About the promotion of natural farming
The government has decided to encourage 1 crore farmers to adopt natural farming. Under natural farming, the use of chemical fertilizers and pesticides will be reduced, which will maintain the quality of the soil and improve the crop yield.
About the establishment of the Bio Research Center
10,000 bio-research centers will be set up to promote research and development in the agriculture sector. In these centers, farmers will be given information about modern agricultural techniques and organic farming methods, so that they can increase their production and increase their income.
About the extension of the Kisan Credit Card
Kisan Credit Card (KCC) will be launched in five states. Under this, loans will be provided to farmers at affordable rates, so that they can meet their farming needs and make new investments in agriculture.
About new crop variety and mission
To further strengthen the agriculture sector, 109 new varieties of 32 crops will be launched. Apart from this, specific missions will be launched for pulses and oil seeds, so that the production of these crops can be increased and the food security of the country can be ensured.
About Financial Aid and Investment
₹1.52 lakh crore has been allocated for the development of the agriculture sector. This financial assistance will help farmers adopt new technologies, improve irrigation facilities, and purchase agricultural equipment.
Conclusion
Budget 2024: These announcements made in Budget 2024 for reforms in the agriculture sector are important for increasing the income of farmers, increasing agricultural production, and making agriculture sustainable and profitable. These reforms will not only improve the standard of living of the farmers but will also ensure the food security of the country. These initiatives of the government will give a new direction to the agriculture sector and the future of farmers will be bright.
Possible tax exemption
The announcement of possible tax exemption in Budget 2024 can provide great relief to the middle class and taxpayers. Finance Minister Nirmala Sitharaman has hinted at making the tax system simple and transparent, as well as providing more exemptions for taxpayers.
About the change in tax slab
Making changes to the current tax slab, the government has proposed to increase the exemption limit from Rs 3 lakh to Rs 4 lakh. This will provide huge tax relief to people of low- and middle-income groups. Apart from this, there is a plan to create a new tax slab for the income group of Rs 15 to 18 lakh, in which the tax rate will be 25%.
About Single Hybrid Tax System
The government’s emphasis is on creating a single hybrid tax system so that the tax process can be made simple and transparent. Under this new system, taxpayers will get various types of exemptions and benefits, which will reduce their tax liability and enable them to save more.
About Rebates on Investments and Savings
Many relaxations will also be given in Budget 2024 to encourage investment and savings. The government has proposed a tax exemption on investing in various investment schemes, such as the Public Provident Fund (PPF), National Savings Certificate (NSC), and Sukanya Samriddhi Yojana (SSY). This will allow taxpayers to save more and remain financially secure.
About tax exemption on health and education
Tax exemption schemes will also be introduced to encourage spending in the health and education sectors. The exemption limit on medical insurance premiums, medical expenses, and education expenses can be increased so that taxpayers can get more relief in these areas.
About special discount for senior citizens
Provision for special tax exemption will also be made for senior citizens. Additional exemptions and benefits will be given to reduce the tax liability on their income so that they can remain financially secure.
Conclusion
Budget 2024: Taxpayers are expected to get big relief from a possible tax exemption in Budget 2024. This will not only reduce their tax liability but will also provide them with opportunities for more savings and investments. This initiative of the government is an important step towards promoting economic growth and ensuring the financial security of taxpayers.
Women and Rural Development
Many important announcements have been made in Budget 2024 for women and rural development. Finance Minister Nirmala Sitharaman has made special provisions for the empowerment of women and rural areas, which will help improve their standard of living and make them self-reliant.
About financial provision for women
A provision of Rs 3 lakh crore has been made in the budget to promote women’s empowerment and economic independence. This amount will be used in self-employment schemes, entrepreneurship development, and skill training programs for women. With this, women will be able to become financially independent and support their families.
About PM Awas Yojana
3 crore new houses will be constructed in rural areas, giving priority to women. These houses built under the Pradhan Mantri Awas Yojana will provide safe and permanent residence to women, which will improve their quality of life.
About women’s health and education
Special attention has also been given to the areas of women’s health and education. New health centers and hospitals will be established in rural areas so that women can get better health services. Besides this, new schools and colleges will be opened and facilities in existing institutions will be improved to promote girls’ education.
About schemes for rural development
Rs 2.66 lakh crore will be spent on rural development. This amount will be used in the construction of roads, bridges, and other infrastructure, which will improve the connectivity of rural areas and provide a better livelihood to the people there.
• About Tribal Advanced Village Movement
• The PM Tribal Advanced Village Movement will be started for the development of tribal communities. Under this movement, 5 crore tribals in 63,000 villages will benefit. In this, specific schemes will be implemented in the fields of education, health, and employment so that the overall progress of the tribal community can be ensured.
Conclusion
Budget 2024: These announcements made for women and rural development in Budget 2024 are important steps towards improving and strengthening their living standards. These provisions will provide more opportunities and resources to women and rural communities so that they can become self-reliant and contribute to the economic and social progress of the country.
Finance Minister’s statement
While presenting Budget 2024, Finance Minister Nirmala Sitharaman, in her statement, gave detailed information on the country’s economic situation, government priorities, and plans for the coming years. His statement included several important points, which clarified the government’s vision towards the progress and development of the country.
About economic stability and development
The finance minister said that, despite policy uncertainties in the global economy, India’s economic position remains stable. He said that the government has strengthened the economic foundation of the country through economic reforms and structural changes. He said that the Indian economy has successfully faced various challenges and is moving towards continuous progress.
Priorities: About farmers, women, youth, and poor
In his address, the finance minister said that the priorities of the government are focused on farmers, women, youth, and poor sections. He stressed that the overall progress of the country is not possible without the empowerment of these groups. He announced agricultural schemes for farmers, financial provisions for women, skill development for youth, and social security schemes for the poor.
About employment generation and manufacturing
Referring to employment generation and reforms in the manufacturing sector, the finance minister said that Rs 2 lakh crore will be spent on employment generation in the next five years. He also described the Production Linked Incentive (PLI) schemes to encourage the manufacturing sector, which will generate new employment opportunities and strengthen the economy.
Other key announcements
In Budget 2024, Finance Minister Nirmala Sitharaman has made several important announcements for various sectors, which are important to promote the economic and social progress of the country. These announcements contain sector-specific provisions aimed at improving the quality of life of citizens and ensuring overall development.
Education and skill development
The finance minister has allocated ₹4.8 lakh crore for education and skill development. This will lead to the establishment of new schools and colleges, the upgrading of existing educational institutions, and the expansion of digital education. Apart from this, 4.1 crore youth will be trained through skill development programs so that they can become employment-ready.
Health sector improvement
Many announcements have also been made to improve the health sector. Specific provisions have been made for setting up new hospitals and health centers in rural and urban areas. New medical colleges and research centers will be established to increase the quality of health services.
Infrastructure development
The government has planned large-scale investments in infrastructure development. It includes significant provisions for the expansion of roads, highways, bridges, and railway networks. Rs 26,000 crore will be allocated for highways in Bihar, which will improve the state’s connectivity and boost economic growth.
Environmental protection and green energy
Specific provisions have also been made in the budget for environmental protection and green energy. The government plans to invest in solar energy, wind energy, and biomass energy. This will not only increase energy production but will also help in environmental protection.
Rural Development
Rs 2.66 lakh crore will be spent on rural development. This includes the development of infrastructure in rural areas, the construction of roads and bridges, and the construction of new houses under the Rural Housing Scheme. This will improve the quality of life of rural communities and provide them with better facilities.
Economic and digital inclusion
Several announcements have also been made to promote economic and digital inclusion. The government has launched specific schemes to promote digital banking, digital payment systems, and internet connectivity. With this, economic and digital facilities will be available even in remote areas.
Schemes for women and children
Specific provisions have also been made in the budget for the empowerment of women and children. Self-employment schemes, financial incentives, and security schemes will be launched for women. Investments will be made in education, health, and nutrition-related schemes for children, to ensure their overall development.
Innovation in the Agriculture Sector
The government has launched several schemes to promote innovation in the agricultural sector. Specific provisions have been made to promote new crop varieties, the use of advanced agricultural techniques, and organic farming. Apart from this, financial assistance and credit facilities will also be provided to the farmers, so that they can further improve their agricultural activities.
Conclusion
Budget 2024: Other key announcements made in Budget 2024 are important steps towards the development of various sectors of the country and improving the quality of life of the citizens. These announcements will not only boost economic growth but also ensure social inclusion, environmental protection, and citizen empowerment. These initiatives of the government will play an important role in making India a strong, prosperous, and self-reliant nation.