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Interim Union Budget - 2024-25 A road map towards a developed economy by 2047 The Government has been adopting Sabka Saath, Sabka Vikas as its mantra for the development of the country. Pro-people programmes were formulated and implemented promptly. The Interim Budget of 2024- 25 highlighted t
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FAQ :
The ICAI commends the Interim Budget 2024, stating that the structural reforms undertaken by the government are beginning to yield results and are establishing a foundation for a stronger and more resilient new India.
The government continues to focus on the poor (Garib), women (Mahila), youth (Yuva), and farmers (Annadata). The budget also highlights the development of the eastern region of the country.
The vision for the next five years includes prioritising housing for rural areas and the middle class, promoting renewable solar energy, upgrading medical facilities, developing infrastructure, and fostering research and innovation.
The slogan for new India is 'Jai Jawan; Jai Kisan; Jai Vigyan', extended to include 'Jai Anusandhan' to lay the base for innovation and development.
No, the Finance Minister did not propose any changes to the Direct and Indirect Taxes in the Interim Budget 2024-25. However, minor changes were made to TCS provisions, and extensions were proposed for certain tax benefits expiring in March 2024.
For 2024-25, total receipts (excluding borrowings) are estimated at Rs. 30.80 crore, and total expenditure is estimated at Rs. 47.66 crore. The fiscal deficit is projected at 5.1 per cent of GDP.
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