(THE NEWSMAN OF INDIA.COM)

HIGHLIGHTS OF THE UNION BUDGET 2024-25

Budget Estimates 2024-25:

🔸Total receipts other than borrowings: ₹32.07 lakh crore
🔸Total expenditure: ₹48.21 lakh crore
🔸Net tax receipt: ₹25.83 lakh crore
🔸Fiscal deficit: 4.9 per cent of GDP

A budget that Empowers India’s future!
Post Budget 2024: Prime Minister Narendra Modi says “In the last 10 years, 25 crore people have come out of poverty. This budget is for the empowerment of the new middle class. The youth will get unlimited opportunities from this budget. Education and skill will get a new scale from this budget. This budget will give power to the new middle class…This budget will help women, small businessmen, MSMEs…”

Presenting the Union Budget 2024, Finance Minister Nirmala Sitharaman said the 12.5% tax on long-term capital gains was introduced with an aim to “simplify approach towards taxation”. She added, “If anything, the average taxation has actually come down when we say it is 12.5%. We have worked out for each of the different asset classes…The point that we brought it down from below the average to 12.5% encourages investment in the markets”.

On Budget 2024-25, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri says, “The budget that the Prime Minister’s government has presented in the last 10 years is a continuation of previous ones. You see, earlier, the context was that an interim budget was presented at the beginning of February. In that budget, the capital expenditure was 11.1 lakh crore, and that has been maintained. Now, for rural development, which is crucial for our agricultural sector and farmers, there is a provision of 2.66 lakh crore. Regarding women-led development, which has shifted from women-centered to women-led, there is a provision of 3 lakh crore…”

Monohar Lal Khattar, Union Minister for Power, Housing and Urban Affairs.
वित्त मंत्री श्रीमती N Sitharaman जी द्वारा पेश किए गए Economic Survey 2024 के अनुसार, भारतीय विद्युत क्षेत्र ने अभूतपूर्व उपलब्धियां अर्जित की हैं। भारत का बिजली ग्रिड दुनिया के सबसे बड़े एकीकृत बिजली ग्रिडों में से एक के रूप में उभर रहा है और विद्युतीकरण एवं स्वच्छ ऊर्जा के क्षेत्र में अपार संभावनाओं की ओर बढ़ रहा है।

Union Minister for Coal and Mines G. Kishan Reddy, on Tuesday, hailed the ‘highly balanced budget’ aimed at building ‘Atmanirbarbharath’ where emphatic measures have been taken to boost domestic production, tax savings for the middle and upper middle class.

The Budget For Viksit Bharat is strongly grounded on the development of Garib, Mahilayen, Yuva and Annadata and provides the roadmap for renewed and holistic growth.

Sarbananda Sonowal, Union Minister for Shipping and Waterways.
I extend my gratitude to Hon’ble PM Shri Narendra Modi ji and Hon’ble FM Smt N sitharaman ji for presenting this visionary document, which places a huge emphasis on employment, skill development, MSMEs, agriculture and investment-led economic growth.

I am certain that the 4 Theme and 9 Priorities identified in Budget 2024 will be welcomed by all sections of society.

Budget 2024 will also significantly enhance India’s shipping, cruise, shipbuilding, and ship repair industry, creating new job opportunities and boosting exports. Under Hon’ble PM Shri Narendra Modi ji’s visionary leadership, we are moving full steam ahead towards elevating India’s stature as a global maritime powerhouse.

H D Kumaraswamy, Union Steel of Minister and Heavy Industry.
• Heartfelt congratulations to the Finance Minister, Mrs. N Sitharaman for presenting the budget for the 7th consecutive time.

• This Nari Shakti Budget aims to empower the Hon’ble Prime Minister Mr. Narendra Modi’s vision of a ‘Developed India’ and significantly benefit women. Nine priority areas have been identified, with ₹1.48 lakh crore allocated for education, employment, and skills development. The goal is to create 4 crore jobs, ensuring better utilization of human resources. This budget includes initiatives to financially empower small and medium-scale industries, which play a crucial role in generating employment.

• It is a visionary and far-reaching budget. Emphasis is placed on agriculture, industry, infrastructure, and job creation. Production is also a key focus. The announcement of 12 industrial corridors, including Bengaluru-Chennai and Hyderabad-Bengaluru, will significantly boost employment and economic growth.

• The budget prioritizes agricultural research and development to meet the growing demand for food and revitalize agriculture. Extending the digital survey of agricultural crops to 400 districts across the country is a welcomed move. Additionally, the Finance Minister has emphasized the importance of natural farming.

• The budget places a strong emphasis on research and innovation. Prioritizing industrial development through collaboration between the central and state governments is a forward-thinking initiative that will greatly contribute to overall development. The announcement of 50-year interest-free loans to states is commendable. I believe this is an inclusive budget for the Amrit Kaal. Budget For Viksit Bharat

National Stock Exchange Ltd. MD & CEO, Ashishkumar Chauhan shares his thoughts on Union Budget 2024. “The primary focus of the budget is job creation while ensuring policy continuity, infrastructure development and commitment to fiscal prudence and consolidation. The budget also gives a boost to the industry especially MSMEs with sustained impetus to capex, while maintaining welfare coverage through technology-based measures. Overall, the budget places India in a strong position and shall play an important role towards achieving the objective of Viksit Bharat by 2047.”

BSE MD & CEO, Sundararaman Ramamurthy, addresses a talk on Union Budget 2024-25 organised by International Vaish Federation – Mumbai: The Finance Minister’s 7th straight Budget has as its objective Viksit Bharat. According to Sundararaman Ramamurthy, BSE MD & CEO said that he finds the budget as a forward looking, equitable, middle class oriented all-inclusive budget, covering poor, women, youth and farmers. “With clear emphasis on 9 priorities, it lays down the road map for infrastructure development, startups, SME’s, job creation, and skill development, innovation, etc. These are likely to create new opportunities, uplift demand, and unlock multipliers for the economy including long term capital formation with fiscal prudence,” said Ramamurthy.

hails a growth oriented and inclusive budget
SCOPE (Standing Conference of Public Enterprises), an apex body of Public Sector Enterprises compliments the Hon’ble Finance Minister in presenting a visionary budget aimed at pushing the growth trajectory of the country. Atul Sobti, Director General SCOPE and Member, Governing Body ILO appreciated the Budget as it focussed on long term growth thereby giving impetus to inclusive development. “The Budget 2024 is a forward-looking budget, prioritising areas for a self-reliant nation giving thrust to manufacturing with special focus on MSMEs, infrastructure, innovation and skills, while maintaining fiscal consolidation. This would not only accelerate employment creation but also help in making India a global manufacturing hub” he said.