Union Finance Minister Nirmala Sitharaman introduced her sixth budget in the Parliament today. Ahead of the general elections, this was an interim budget and her speech lasted for only 57 minutes. While the interim budget focused on youth and women empowerment, here are the major takeaways from her speech.
* There were no changes made to the direct tax and indirect tax rates.
* FY25 fiscal deficit target lowered to 5.1 percent of the total GDP.
* Certain benefits to start-ups & tax exemptions to certain IFSC units expiring in March will be extended to March 2025.
* For the deserving sections in the middle class, living in rented houses or slums, to encourage them, a specialized scheme will be introduced.
* Healthcare cover under Ayushman Bharat will be extended to ASHA workers, Anganwadi workers, and Helpers.
* Under the Gati Shakti Master Plan, 50-year interest-free loans to state governments to be extended for another year.
* 40,000 normal rail bogies will be converted to the Vande Bharat standards
* Rooftop solarization and muft bijli – one crore households will be enabled to obtain up to 300 units of free electricity every month.