New Delhi, Feb 1: Finance Minister Nirmala Sitharaman is presenting her sixth budget in the Lok Sabha on Thursday.
She presented the budget after the Union Cabinet, led by Prime Minister Narendra Modi, gave its approval to the pre-election budget for 2024-25, paving the way for Finance Minister.
Nirmala Sitharaman, the first full-time woman Finance Minister in the country, to set match the record of former Prime Minister Morarji Desai. Having presented five full budgets since July 2019, she extended her record by presenting an interim or vote-on-account budget.
This achievement surpasses the consecutive budget presentations of her predecessors, including Manmohan Singh, Arun Jaitley, P Chidambaram, and Yashwant Sinha. Morarji Desai, during his tenure as finance minister, presented five annual budgets and one interim budget between 1959 and 1964.
Interim Budget 2024-25 | Key Highlights
# FDI Surge: It’s ‘First Develop India’ – FM celebrates FDI Inflow of Rs 596 Billion USD from 2014 to 2023, Marking a Golden Era. Double the Inflow from 2005 to 2014. Ongoing negotiations for bilateral investment treaties aim for sustained FDI.
# Stable Taxation: No Alterations in Income Tax Rates
# Fiscal Deficit: The fiscal deficit in 2024-25 is estimated to be 5.1% of GDP,” said Union Finance Minister Nirmala Sitharaman.
# Viksit Bharat Vision: FM Sitharaman proposes Rs 75,000 Crores as 50-Year Interest-Free loan for growth-enabling reforms in States, aiming to realise the vision of ‘Viksit Bharat’.
# Golden Era for Youth: Rs 1 Lakh Crore corpus for Tech-Savvy Generation, 50-Year interest-free Loan for long-term Financing and Re-financing with low or nil Interest Rates.
# Medical Colleges Expansion:: Utilising existing Hospital Infrastructure, Committee to Examine and Provide Recommendations.
# Deep-Tech for Defence: FM Sitharaman announces new scheme to boost deep-tech technologies for Defence, aiming to accelerate self-reliance.
# Rooftop Solarisation: 1 Crore households to receive up to 300 units of free electricity monthly through rooftop solarisation, aligned with PM’s vision on the Historic Day of Shri Ram Mandir consecration in Ayodhya.
# Agricultural Boost: Government to Boost Public and Private Investment in Post-Harvest Activities
# PM Awas Yojana Success: PM Awas Yojana Rural Thrives Amidst COVID Challenges, Nears 3 Crore House Target; Plans Additional 2 Crore in Next 5 Years to Accommodate Growing Families.
# Ayushman Bharat Expansion: ASHA and Anganwadi Workers and Helpers Now Included
# Unprecedented Development: FM Nirmala Sitharaman envisions unprecedented development in the next five years.
# ‘Amrit Kaal’ Strategy: FM Nirmala Sitharaman outlines ‘Strategy for Amrit Kaal’ with a focus on inclusive and sustainable Development, Productivity, and Opportunities for all.
# Triple Focus Emphasis: Governance, Development, and Performance, as key priorities for the Government.
# Youth Achievements in Sports: FM Nirmala Sitharaman commends Youth achievements in Sports; highlights record medal tally in Asian Games and Asian Para Games 2023. Acknowledges Chess prodigy Praggnanandhaa’s notable performance and India’s remarkable growth to over 80 Chess Grandmasters.
# ‘Nari Shakti’ Progress: 28% Rise in female higher education enrolment, 43% in STEM; notable workforce participation. Legalisation against triple talaq, 1/3 Reservation in Parliament, and PM Awas Yojana Housing Bolster Women’s dignity.
# Skill India Success: 1.4 Crore youth trained, 54 Lakh upskilled, 3000 new ITIs. Significant growth in institutional higher learning with 7 IITs, 16 IIITs, 7 IIMs, 15 AIIMS, and 390 Universities established.
FM meets President
Finance Minister Nirmala Sitharaman, accompanied by Union Ministers and senior officials, paid a customary visit to President Droupadi Murmu at Rashtrapati Bhavan before presenting the pre-election Budget for 2024-25. President Murmu extended traditional hospitality by offering ‘dahi-chini’ (curd-sugar), considered auspicious, before Sitharaman headed to Parliament for the budget presentation.
