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Team GAMY

S2, M.Com MIB

Mar Athanasius College (Autonomous), Kothamangalam

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AKHIL

ADESH

ASLAM

SUREGA

ANUSREE

KIRUTHIHA

TeamGAMY

YUVA

[YOUTH]

ANNADATA

[FARMER]

MAHILA

[WOMEN]

GARIB [POOR]

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2024Budget took on the 

Viksit Bharat theme, with the government visualising a

developed India by 2047.

‘Garib’ (Poor),

‘Annadata’ (Farmers)

‘Mahilayen’ (Women),

‘Yuva’ (Youth)

are the four-pillars of the Viksit Bharat Budget 2024.

Finance Minister�Smt. NIRMALA SITHARAMAN

Date: 01 February 2024

Time Span: 58 minutes 6 seconds

Sixth consecutive

Budget presentation in the Iconic Red Book- this book was evolved from the traditional ‘Bahi khata’

Saree: Blue and Cream Tussar saree with Kantha Handwork- sending a resounding ‘Vocal for Local’

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FACTS

Halwa Ceremony

• Annual Ritual
• Observed 5 days before budget
• Preparation and serving to officials and staff members
• Marks- beginning of the

“ Lock-in” period

Interesting Facts

What to expect in Budget 2024?

Limited Scope: As an INTERIM BUDGET, it won't be a full-fledged financial plan. Instead, expect allocations to cover essential government expenses for the first four months of the next Fiscal Year (April-July)

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Viksit Bharat by 2047

Vision: Prosperous Bharat

in harmony with

nature, modern infrastructure and opportunities for all

Sabka Saath,

Sabka Vikas,

Sabka Vishwas

People-Centric Inclusive Development

Substantive Development

of all forms of

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Infrastructure:

Physical

Digital

Social

HEALTH

• The government is actively encouraging cervical cancer vaccination for girls aged between 9-14 years.

• The Saksham Anganwadi and Poshan 2.0 scheme would expedite the upgradation of Anganwadi Centres to improve nutrition delivery, early childhood care and development.

• A U-WIN platform is to be rolled out for the immunisation efforts of Mission Indradhanush.

• Health coverage under the Ayushman Bharat Scheme will be extended for all ASHA, Anganwadi workers, and helpers.

• A committee will be formed to study the issues faced in setting up more Medical Colleges in India.

• The government is to promote private and public investment in post-harvest activities.
• The application of Nano-DAP is to be expanded in all Agro-Climatic Zones.
• Atmanirbhar Oilseeds Abhiyan strategy to be formulated.

AGRICULTURE SECTOR

• The implementation of Pradhan Mantri Matsya Sampada Yojana will be stepped up to enhance Aquaculture Productivity, Double Exports, and generate more employment opportunities.

Further, Five Integrated Aquaparks will be set up.

• A comprehensive programme for supporting Dairy Farmers will be formulated and improve the productivity of milch animals, unveiling a comprehensive Dairy Development Programme.

• Direct Financial Assistance to 118 crore farmers under PM KISSAN

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• Crop Insurance to 4 crore farmers under PM Fasal Bima Yojana

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• Integration 1,361 mandis under e-NAM, supporting trading volume of 3 lakh crore

Female Enrollment in Higher Education gone up by 28%

Schemes such as PM Schools for Rising India (PM SHRI) have received almost 50% more allocation than the previous budget.

New Institutions of higher learning – seven IITs, 16 IIITs, seven IIMs, 15 AIIMS and 390 universities, had been set up. 

• Building Youth Entrepreneurs through Startup India. 
• Skill training to 1 crore to 40 lakh youth with Skill India Mission
• Set up a fund of Rs.1 lakhs of crores for Research and Creativity.
• Loans for starting Start-ups and industries.
• Upto 50 years Interest Free Loans for tech start-ups
• 43 percent of female enrolment in STEM courses.

TOURISM

• States will be encouraged to undertake the development of Iconic Tourist Centers to attract business and promote opportunities for local entrepreneurship.
• Long-term Interest-free Loans are to be provided to states to encourage development.
• Projects for port connectivity, tourism infrastructure, and amenities will be taken up in islands, including Lakshadweep.

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�Sustainable Development/�Green Energy�

• Viability Gap Funding for harnessing offshore wind energy for an initial capacity of one giga-watt.
• Setting up of Coal Gasification and Liquefaction capacity of 100 MT by 2030
• Phased mandatory blending of CNG, PNG, and compressed biogas for domestic purposes
• Financial assistance for the procurement of Biomass Aggregation Machinery

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• Further, there will be Rooftop Solarisation with one crore households enabled to obtain up to 300 units of free electricity per month.
• The government also plans to adopt e-buses for public transport and strengthen the e-vehicle ecosystem by supporting the manufacturing and charging of electric vehicles.
• A new scheme of bio-manufacturing and bio-foundry will be launched to support environment-friendly alternatives.
• 1.3 crore LED Street Lights will be installed under the SNLP scheme. 
• The Blue Economy 2.0 scheme will be launched to restore and adapt coastal Aquaculture and Marinculture.

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�Direct Tax Proposals�

• Same Tax Rates will be retained in FY 2024-25 for direct taxes.
• There will be no tax liability for taxpayers with an income of up to Rs.7 lakh. 
• The 22% tax rate for corporate taxes will apply for existing domestic companies and 15% for certain new manufacturing companies.
• Extension in the time limit for certain tax benefits for start-ups and investments made by sovereign wealth funds/pension funds, and a tax exemption for specific IFSC units that expires on 31st March 2024. The same has been extended up to 31st March 2025.

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�Goods and Services Tax�

The same customs rates, including Import Duties, will be retained

in FY 2024-25.

Housing

• The Pradhan Mantri Awas Yojana (Grameen) is close to achieving the target of 3 crore houses, with an additional 2 crore targeted for the next 5 years.
• Housing for the Middle Class Scheme to be launched to encourage the middle class to buy or build their own houses.

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In conclusion, India's Budget Highlights 2024 reflect a strategic vision to foster economic growth and social development

THANK YOU