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Sunday, February 25, 2024

Highlights of budget speech of Union Finance Minister

Date:

Following are the highlights of the speech of Union Finance Minister Nirmala Sitharaman in the Lok Sabha while presenting the interim budget here on Thursday:

— Indian economy has witnessed positive transformation in the last 10 years.

— 80 crore people are getting free ration.

— Government has assisted 25 crore people to get freedom from multidimensional poverty.

— Crop insurance has been given to 4 crore farmers under the PM Fasal Bima Yojana.

— Every year, under PM Kisan Samman Yojana, direct financial assistance is being provided to 11.8 crore farmers.

— In the last 10 years, all forms of infrastructure — physical, digital and social are being built in record time.

— All parts of country are becoming active participant in growth.

— GST has enabled one nation, one, tax and one market.

— Proactive inflation management has kept inflation within the policy band.

— Next five years will be years of unprecedented development and golden moments to realise the dream of developed India by 2047.

— Government is working towards development which is all round, all inclusive and all pervasive.

— Through rooftop solarisation, 1 crore households will be enabled to obtain upto 300 units free electricity every month.

— Government will launch a scheme to help deserving sections of Middle Class to buy or build their own houses.

— Efforts to boost value addition in agriculture and increase farmers’ income will be stepped up.

— Capex Outlay for 2024-25 is being increased by 11.1% to Rs 11,11,111 crore.

— Three major railway corridor programmes will be implemented. These are energy, mineral and cement corridor; port connectivity corridors and high traffic density corridors.

— 40,000 normal train bogies will be converted to Vande Bharat standards.

— The government has identified projects under the PM Gati Shakti for enabling multi-modal connectivity to improve logistics efficiency and reduce cost.

— Committee to be set up to examine and submit recommendations on government plans to set up more medical colleges by utilising the existing hospital infrastructure under various departments.

— Government will encourage vaccination for girls in the 9-14 year age group to prevent Cervical Cancer.

— Newly designed U-WIN platform for managing Immunisation and intensified efforts of Mission Indradhanush will be rolled out expeditiously throughout the country.

— Healthcare cover under Ayushman Bharat scheme will be extended to all ASHA workers, Anganwadi Workers and Helpers.

— Pradhan Mantri Kisan Sampada Yojana has benefitted 38 lakh farmers and

generated 10 lakh employment. Pradhan Mantri Formalisation of Micro Food Processing Enterprises Yojana has assisted 2.4 lakh SHGs and sixty thousand individuals with credit linkages.

— For ensuring faster growth of the agricultural sector, government will further promote private and public investment in post-harvest activities including aggregation, modern storage, efficient supply chains, primary and secondary processing.

— No change in rates either for direct or indirect taxes.

— Revised estimate of total expenditure for FY24 is at Rs 44.90 lakh crores.

— Projects for port connectivity, tourism infrastructure, and amenities will be taken up on the country’s islands, including Lakshadweep. This will help in generating employment also.

— The FDI inflow during 2014-23 was USD 596 billion, which is twice the inflow during 2005-14.

— Government will form high-powered committee to consider challenges of fast Population growth and demographic changes.

— The revised revenue receipts at Rs 30.03 lakh crore are expected to be higher than the Budget Estimate, reflecting strong growth momentum and formalisation in the economy.

— Revised Estimate of the fiscal deficit is 5.8 per cent of GDP.

— Coming to 2024-25, the total receipts other than borrowings and the total expenditure are estimated at Rs 30.80 and Rs 47.66 lakh crore respectively.

— The tax receipts are estimated at Rs 26.02 lakh crore.

83. The scheme of fifty-year interest free loan for capital expenditure to states will be continued this year with total outlay of Rs 1.3 lakh crore.

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