Presenting the Interim Budget 2024–25, Finance Minister Nirmala Sitharaman has wrapped up, emphasizing the importance of empowering women, youth, farmers, and the lowest members of society.
According to Sitharaman, the government’s top priorities are the underprivileged, women, farmers, and young people. It was widely anticipated that the administration will prioritize increasing the income of farmers, empowering women, and giving young people greater employment opportunities.
The following is a list of expectations from the country regarding Nirmala Sitharaman’s interim budget address:
1. Finance Minister Nirmala Sitharaman mentioned that the government is working to make the nation developed by 2047. “Working to make India ‘Viksit Bharat’ by 2047,” said FM.
2. Finance Minister Nirmala Sitharaman said the focus of the government is on the poor, women, youth and farmers.
3. According to Nirmala Sitharaman, the government has been increasing farmer income through repeated increases in the minimum support prices for crops.
“For the benefit of our annadata, 11.8 crore farmers receive direct financial help annually through the PM Kisan Samman Yojana, according to Finance Minister Nirmala Sitharaman. Under the PM Fasal Bima Yojana, 4 crore farmers receive crop insurance. Youth empowerment and equipping are essential to our prosperity.
4. Finance Minister said that the Indian economy is doing great and that all areas of growth are performing much better than expected. “We have macroeconomic stability, Investments are robust. The economy is doing well,” said Sitharaman.
5. In her presentation, Finance Minister Nirmala Sitharaman gave a major push to infrastructure, including railways, aviation and ports. She said the capital expenditure outlay for next year increased by 11.1 per cent to Rs 11.11 lakh crore.
6. The finance minister suggested keeping export tariffs and other direct and indirect tax rates at their current levels. According to Sitharaman, “no change in the taxation rates is proposed.”
7. Finance Minister Nirmala Sitharaman adjusted the fiscal deficit to 5.8 per cent of the gross domestic product for FY24, revised from the previous estimate of 5.9 per cent.
“Fiscal deficit for FY25 is estimated at 5.1 per cent of GDP, down from 5.8 per cent in current financial year,” said the FM.
8. The creation of a port connection corridor, an energy, mineral, and cement corridor, and a high-traffic density corridor was announced by Finance Minister Nirmala Sitharaman.
9. Rooftop solarization, which is expected to assist one crore families by providing up to 300 units of free electricity each month, was announced by Finance Minister Nirmala Sitharaman.
Potential savings of between Rs. 15,000 and Rs. 18,000 as well as chances for families to sell extra electricity to distribution firms (discoms) are anticipated benefits of the initiative.