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Top 100 Highlights of Budget 2024 by Nirmala Sitharaman
1. Budget 2024 proposes overhaul of Capital Gains Taxes - Short term gains 20% on all financial assets, On all other other assets it remains as it was, Long term - 12.5% on all assets, Exemption on profits 1.25 lakh a year
2. Standard Deduction Increased from 50,000 to 75,000.
3. Dedction of Family pension 15K to 25K
4. The New Slabs in the New Regime in #Budget2024, From 0-3 Lakh - Nil , 3-7 Lakh - 5% , 7-10 Lakh - 10% , 10-12 Lakh - 15% , 12-15 Lakh - 20% , If its more than 15 Lakh - 30%
5. Angel Tax Abolished for All Categories of Investors.
6. STT on F&O increased to 0.2 %
7. FM keeps capex at Rs 11.11 lakh crore or 3.4% of GDP
8. Capital Expenditure in the Budget, 2019 - ?3.1 Lakh Crore, 2021 - ?4.4 Lakh Crore, 2022 - ?5.5 Lakh Crore, 2023 - ?7.5 Lakh Crore, 2024 - ?10 Lakh Crore, 2025 - ?11.1 Lakh Crore
9. Fiscal deficit lowered to 4.9% of GDP, market borrowing unchanged at Rs 14.13 lakh crore
10. Fiscal deficit for FY25 further scaled down to 4.9 from 5.1% in interim Budget
11. Aim to reach a fiscal deficit of below 4.5% by FY26
12. BCD on mobile phones, chargers reduced to 15%.
13. Highest Capex Spending proposed to support the economy and job creation in
14. Govt allocates over Rs 3 lakh crore for schemes benefiting women, girls:
15. Limit of Mudra loans to extend to Rs 20 lakh from Rs 10 lakh for those who have availed and paid previous http://loans.New mechanism announced for facilitating continuation of bank credit to #MSMEs during their stress period
16. The Budget focus on employment, skilling, MSMEs and Middle class
17. The Detailed roadmap to pursue nine priorities for generating opportunities for India These are: Agri, Employment, Inclusive development, Mfg and Services, Urban Devp, Energy, Infra, Innovation, R&D, NexGen reforms
18. Turning attention to the full year and beyond, in this budget, we particularly focus on employment, skilling, MSMEs, and the middle class. I am happy to announce the Prime Minister’s package of 5 schemes and initiatives to facilitate employment, skilling and other opportunities for 4.1 crore youth over a 5-year period with a central outlay of ? 2 lakh crore
19. ?2 Lakh crore will be spent on youth and skill development over next 5 years
20. Digital coverage of farm land and farmers to help farmers get their dues.
21. PM Garib Kalyan Ann Yojna was extended for 5 years benefiting 80 crore people
22. Govt to provide incentive to 30 lakh youth entering job market by providing 1 month PF contribution. Govt to launch three employment-linked schemes
23. Govt to set up working women hostels to promote women participation in workforce
24. The PM Vishwakarma Scheme was announced by the Hon'ble Finance Minister in the Annual Union Budget 2023-24 on 01.02.2023 and launched by the Prime Minister on 17.09.2023. The Scheme aims to provide end-to-end support to artisans and craftspeople who work with their hands and tools
25. FM allocated Rs. 1.48 lakh cr for education, employment and skilling. 5 schemes for 4.1 crore youth with an outlay of Rs. 2 lakh cr over a period of 5 years.
26. We will formulate plan Purvodaya for all round development of Bihar, Jharkhand, West Bengal, Odisha, and Andhra Pradesh
27. Govt to provide e-vouchers directly to 1 lakh students every year with interest subvention of 3 per cent of loan amount
28. 1,000 ITIs to be upgraded in hub and spoke model,
29. Model skilling loan scheme will be revised to facilitate loans up to Rs 7.5 lakh
30. New centrally-sponsored scheme for skilling in collaboration with states, industry; 20 lakh youth to be skilled over 5 years
31. Govt will release new 109 high yielding, climate resilient seeds for 32 field and horticulture crops. ? 1.52 lakh crore allotted for agriculture & allied sectors
32. Govt to set up working women hostels to promote women participation in workforce
33. Govt to provide funds to private sector, domain experts & others for developing climate-resilient seeds
34. Employment and skilling: 3 schemes for Employment linked incentives based on EPFO enrolment. Scheme A : First timers - 1 month wage to all entering the workforce in all formal sectors/eligibility of salary of 1 lakh a month . Scheme B : Job creation in Manf; Additional Employment in Manf to be incentivised EPFO contribution
35. 100 branches of India Post Payments Bank to be set up in North East:
36. 2.66L Cr Rs. Provision made for rural development
37. Union Budget 2024-25 proposes revision of Model Skill Loan Scheme to help 25,000 students every year.
38. E-vouchers for loans upto Rs. 10 lakh for higher education in domestic institutions to be given directly to 1 lakh students every year for annual interest subvention of 3% of loan amount.
39. Industrial node at Gaya on Amritsar Kolkata Industrial Corridor to be developed.
1. Budget 2024 proposes overhaul of Capital Gains Taxes - Short term gains 20% on all financial assets, On all other other assets it remains as it was, Long term - 12.5% on all assets, Exemption on profits 1.25 lakh a year
2. Standard Deduction Increased from 50,000 to 75,000.
3. Dedction of Family pension 15K to 25K
4. The New Slabs in the New Regime in #Budget2024, From 0-3 Lakh - Nil , 3-7 Lakh - 5% , 7-10 Lakh - 10% , 10-12 Lakh - 15% , 12-15 Lakh - 20% , If its more than 15 Lakh - 30%
5. Angel Tax Abolished for All Categories of Investors.
6. STT on F&O increased to 0.2 %
7. FM keeps capex at Rs 11.11 lakh crore or 3.4% of GDP
8. Capital Expenditure in the Budget, 2019 - ?3.1 Lakh Crore, 2021 - ?4.4 Lakh Crore, 2022 - ?5.5 Lakh Crore, 2023 - ?7.5 Lakh Crore, 2024 - ?10 Lakh Crore, 2025 - ?11.1 Lakh Crore
9. Fiscal deficit lowered to 4.9% of GDP, market borrowing unchanged at Rs 14.13 lakh crore
10. Fiscal deficit for FY25 further scaled down to 4.9 from 5.1% in interim Budget
11. Aim to reach a fiscal deficit of below 4.5% by FY26
12. BCD on mobile phones, chargers reduced to 15%.
13. Highest Capex Spending proposed to support the economy and job creation in
14. Govt allocates over Rs 3 lakh crore for schemes benefiting women, girls:
15. Limit of Mudra loans to extend to Rs 20 lakh from Rs 10 lakh for those who have availed and paid previous http://loans.New mechanism announced for facilitating continuation of bank credit to #MSMEs during their stress period
16. The Budget focus on employment, skilling, MSMEs and Middle class
17. The Detailed roadmap to pursue nine priorities for generating opportunities for India These are: Agri, Employment, Inclusive development, Mfg and Services, Urban Devp, Energy, Infra, Innovation, R&D, NexGen reforms
18. Turning attention to the full year and beyond, in this budget, we particularly focus on employment, skilling, MSMEs, and the middle class. I am happy to announce the Prime Minister’s package of 5 schemes and initiatives to facilitate employment, skilling and other opportunities for 4.1 crore youth over a 5-year period with a central outlay of ? 2 lakh crore
19. ?2 Lakh crore will be spent on youth and skill development over next 5 years
20. Digital coverage of farm land and farmers to help farmers get their dues.
21. PM Garib Kalyan Ann Yojna was extended for 5 years benefiting 80 crore people
22. Govt to provide incentive to 30 lakh youth entering job market by providing 1 month PF contribution. Govt to launch three employment-linked schemes
23. Govt to set up working women hostels to promote women participation in workforce
24. The PM Vishwakarma Scheme was announced by the Hon'ble Finance Minister in the Annual Union Budget 2023-24 on 01.02.2023 and launched by the Prime Minister on 17.09.2023. The Scheme aims to provide end-to-end support to artisans and craftspeople who work with their hands and tools
25. FM allocated Rs. 1.48 lakh cr for education, employment and skilling. 5 schemes for 4.1 crore youth with an outlay of Rs. 2 lakh cr over a period of 5 years.
26. We will formulate plan Purvodaya for all round development of Bihar, Jharkhand, West Bengal, Odisha, and Andhra Pradesh
27. Govt to provide e-vouchers directly to 1 lakh students every year with interest subvention of 3 per cent of loan amount
28. 1,000 ITIs to be upgraded in hub and spoke model,
29. Model skilling loan scheme will be revised to facilitate loans up to Rs 7.5 lakh
30. New centrally-sponsored scheme for skilling in collaboration with states, industry; 20 lakh youth to be skilled over 5 years
31. Govt will release new 109 high yielding, climate resilient seeds for 32 field and horticulture crops. ? 1.52 lakh crore allotted for agriculture & allied sectors
32. Govt to set up working women hostels to promote women participation in workforce
33. Govt to provide funds to private sector, domain experts & others for developing climate-resilient seeds
34. Employment and skilling: 3 schemes for Employment linked incentives based on EPFO enrolment. Scheme A : First timers - 1 month wage to all entering the workforce in all formal sectors/eligibility of salary of 1 lakh a month . Scheme B : Job creation in Manf; Additional Employment in Manf to be incentivised EPFO contribution
35. 100 branches of India Post Payments Bank to be set up in North East:
36. 2.66L Cr Rs. Provision made for rural development
37. Union Budget 2024-25 proposes revision of Model Skill Loan Scheme to help 25,000 students every year.
38. E-vouchers for loans upto Rs. 10 lakh for higher education in domestic institutions to be given directly to 1 lakh students every year for annual interest subvention of 3% of loan amount.
39. Industrial node at Gaya on Amritsar Kolkata Industrial Corridor to be developed.
