Union Budget 2024: Get Insights of FM Nirmala Sitharaman’s Seventh Consecutive Budget

Union Budget 2024: Finance Minister Nirmala Sitharaman presented the 77th Union Budget for India in the Lok Sabha today. Continue with the blog to know the major details of the budget.

Union Budget 2024: Key Highlight

• Finance Minister Nirmala Sitharaman presented  the Modi 3.0 budget.
• This budget majorly highlights the 9 priorities of the Viksit Bharat. 
• FM Nirmala Sitharaman stated that this budget lays a special focus on employment, skilling, MSME’s and the middle class.
• Capital expenditure will be 11,11,111 crore.
• Budget focuses on the four different castes: poor, women, youth and the farmer. 

Union Budget 2024: The Nine priorities of the ‘Viksit Bharat’

1. Employment and Skilling
2. Productivity and Resilience in Agriculture
3. Improved Human Resources and Social Justice
4. Manufacturing And Services
5. Urban Development,
6. Energy Security
7. Infrastructure
8. Innovation, Research And Development
9. Next Generation Reforms 

Union Budget 2024: Ministry wise Budget Allotment 

Ministry : Sum Allotment (Crores)

• Defence :  Rs. 6,21,541
• Road Transport and Highways :  Rs. 2,78,000
• Railways : Rs. 2,55,393
• Consumer Affairs, Food and Public Distribution : Rs.2,13,323
• Home Affairs : Rs. 2,02,869
• Rural Development : Rs.1,80,233
• Chemicals and Fertilisers : Rs.1,68,380
• Communications : Rs.1,37,255
• Agriculture and Farmers’ Welfare : Rs.1,27,470
• Education : Rs.1,20,628
• Jal Shakti : Rs.98,419
• Health and Family Welfare : Rs.90,659
• Housing and Urban Affairs : Rs.77,524
• Other Ministries : 21,94,075

Revised Tax Slab and Tax Relief under New Tax Regime  

1. Rupees 0-3 lakh : Nil 
2. Rupees 3-7 lakh : 5 percent 
3. Rupees 7-10 lakh : 10 percent
4. Rupees 10-12 lakh : 15 percent
5. Rupees 12-15 lakh : 20 percent
6. Rupees 15 lakh and above : 30 percent

Income tax saving of upto Rs.17,500 has been announced for salaried employees.

■ Also Read: Union Budget 2024 in Hindi: कब पेश होगा वित्त वर्ष 2024-25 का पूर्ण बजट? जिसका सबको है बड़ी बेसब्री से इंतजार

Union Budget 2024: Gift for different sections

Giving the Union Budget 2024 speech, FM Nirmala Sitharaman stated that : “As mentioned in the interim Budget, we need to focus on 4 different castes, the poor, women, youth and the farmer.” Here are the details for the various schemes for the different sections. 

Also Read: ITR filing: Latest Updates on Income Tax Returns, Key Changes and Deadlines

The Poor (Gareeb)

• The Finance Minister announced Rs.10 crore interest subsidy scheme for the poor for urban housing. 

Women (Mahilayein) 

• To support women-led development, FM announces an allotment of over Rs. 3 lakh crore for schemes which will benefit women and girls. 
• This ensures enhancing the role of women at par with men in the upcoming Indian economy. 

The Youth (Yuva)

• In the next 5 years, over 1000 ITI’s will be upgraded in the hub and spoke model.
• In the 5 years, over 1 crore youth will be skilled up by top companies of the country and Rs. 5,000 monthly allowance will be given to the youth.

The Farmer (Annadaata)

• The Finance Minister announces the release of 109 high-yielding climate-resilient varieties of 32 cultivation and field crops this year.
• Rs 1.52 crore will be alloted to agriculture and allied sector according to the budget. 

Union Budget 2024: Indirect Taxes 

• To help cancer patients, custom duties on three more medicines have been removed.
• Reduction of Basic custom duties on mobile phones, mobile chargers and mobile PCBA to be reduced to 15%.
• Enlistment of further exempted capital goods and services for the manufacture of solar cells and panels to be expanded. 
• No custom duties on 25 critical minerals and two duties on two minerals have been deducted.
• Custom duties to be removed on oxygen free copper for the manufacture of resistor.
• Custom duties on gold to be reduced to 6% and on platinum to be 6.4%.
• 5% reduction of BCD on certain broodstock, shrimp & fish feed and polychaete worms.
• BCD on real down filling material from duck or goose to be reduced.
• BCD on methylene diphenyl diisocyanate (MDI) required for manufacturing spandex yarn to be reduced to 5%.

Union Budget 2024: Travel and Tourism 

• Allocations for transformation of Nalanda University .
• Nalanda to be transformed into a tourist centre.
• To transform Vishnupad Temple of Gaya and Mahabodhi Temple at Bodh Gaya into world class pilgrim and tourist centre, Vishnupad Temple Corridor and Mahabodhi Temple Corridor will be built.
• Rajgir will be upgraded.
• To make Odisha into a tourist centre, allocations will be done.

Satlok is the Place which has No Taxation

This Earth is in the 21 brahmands which belong to Kaal Brahma (Jyoti Niranjan). On this earth, we are bound to karma. We are in the cycle of birth and death and are put into the bodies of 84 lakh creatures on the basis of our Karma. In these 21 brahmands, Karma is the main important thing. But apart from the 21 brahmands of Kaal Brahma (Jyoti Niranjan) and the 7 sankh brahmands of Akshar Brahm, there is another place where the residents are not bound to Karma. The people of that lok have ‘Naishkarm moksh’ as is mentioned in Srimad Bhagavad Gita. That lok is Satlok.  

The true worship to attain Satlok is given by Saint Rampal Ji Maharaj. Saint Rampal Ji Maharaj ji is providing true worship according to all the holy scriptures. By doing that worship, one can attain salvation and achieve a permanent place in Satlok. To take naam initiation from Saint Rampal Ji Maharaj visit www.jagatgururampalji.org.

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