By tazza24.com 
The Union Budget 2024, presented by Finance Minister Nirmala Sitharaman on July 23, 2024, is a landmark budget that focuses on boosting the Indian economy. The budget proposes several measures to promote growth, create jobs, and improve the lives of the common man.
Table of Contents
Union Budget 2024: Key Highlights and Analysis
The Union Budget 2024, presented by Finance Minister Nirmala Sitharaman, aims to bolster economic growth, support sustainable development, and improve public welfare. This budget comes at a crucial time as the global economy faces challenges such as inflation, geopolitical tensions, and recovery from the pandemic. Here’s a breakdown of the key aspects of this year’s budget.It is also called as Namo 3.0.
1. Economic Overview
The Indian economy has shown resilience in the face of global headwinds, with a projected GDP growth rate of 6.5% for the fiscal year. The Union Budget 2024 focuses on strengthening this growth trajectory by prioritizing infrastructure development, social welfare schemes, and fiscal consolidation.
An infographic showing GDP growth trends over recent years.
2. Taxation Reforms
One of the major highlights of the budget is the changes in the tax structure:
- Personal Income Tax: The basic exemption limit has been increased from ₹2.5 lakh to ₹3 lakh. The new tax regime has been made more attractive with reduced tax rates for individuals and senior citizens.
- Corporate Tax: No significant changes in corporate tax rates, but incentives for startups and MSMEs have been extended to boost entrepreneurship.
Image suggestion: A chart comparing old and new tax slabs.
3. Infrastructure and Development
The government has allocated ₹10 lakh crore for infrastructure projects, a 33% increase from the previous year. Key areas of focus include:
- Transport: Expansion of road and rail networks to enhance connectivity.
- Energy: Investments in renewable energy projects to achieve the target of 500 GW by 2030.
- Urban Development: Initiatives for smart cities and affordable housing.
Photos of infrastructure projects, such as highways, railways, or solar plants.
4. Social Welfare and Education
The budget emphasizes inclusive growth with substantial allocations for health and education:
- Health: ₹2.8 lakh crore for healthcare, focusing on upgrading primary health centers and expanding health insurance coverage.
- Education: ₹1.2 lakh crore allocated for education, with a focus on digital learning and skill development programs.
Image suggestion: Images of healthcare workers or students in classrooms.
5. Agriculture and Rural Development
To support farmers and rural communities, the government has introduced several measures:
- Subsidies: Continuation of fertilizer subsidies and support for sustainable farming practices.
- Irrigation: Investment in irrigation projects to improve water management.
Image suggestion: Photos of agricultural activities or rural landscapes.
6. Technology and Innovation
The budget encourages technological advancement and innovation with initiatives such as:
- Digital India: Expansion of broadband connectivity in rural areas and promotion of digital literacy.
- Research and Development: Increased funding for scientific research and innovation hubs.
Image suggestion: A representation of digital transformation or technological innovation.
7. Fiscal Deficit and Debt Management
The fiscal deficit is targeted at 5.9% of GDP, with a roadmap to reduce it to 4.5% by 2025-26. The government plans to achieve this through improved tax compliance and efficient expenditure management.
Image suggestion: A graph showing fiscal deficit trends.
8. Environmental Sustainability
In line with global commitments, the budget focuses on environmental sustainability:
- Green Energy: Incentives for electric vehicles and clean energy initiatives.
- Conservation: Programs for afforestation and biodiversity conservation.
Image suggestion: Pictures of green initiatives or wildlife conservation efforts.
Public Reactions and Expert Opinions
The budget has received mixed reactions from various stakeholders. While industry leaders have praised the focus on infrastructure and technology, critics argue that more could be done for social welfare and environmental protection.
Conclusion
The Union Budget 2024 presents a balanced approach to fostering economic growth while addressing social and environmental concerns. As India navigates complex global challenges, the effective implementation of budget proposals will be crucial in achieving the nation’s developmental goals.
However , It is 3rd Term Budget of modi Government which gives both Pain and reliefs to different segments of taxpayers of india who do everything to earn and ready to pay taxes for growth of India but in return they get just bluffings from politicians who even don’t pay tax in their entir life and live thei luxury life from money of taxpayers.No one listen comman man pain.
By combining insightful analysis with visual elements, this article aims to provide a comprehensive overview of the Union Budget 2024.
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