Union Budget 2024-25 | FM Nirmala Sitharaman Presents Interim Budget | UPSC

Union Finance Minister Nirmala Sitharaman presented the interim budget 2024-25 in the Parliament. An interim budget is similar to a complete budget. One major difference is it only includes projections for a limited period of time, rather than an entire financial year.
👉Key Highlights
• No change in tax rates for direct and indirect taxes, including import duties.
• The fiscal deficit — the gap between government’s revenue and expenses — for 2024-25 is estimated at 5.1 per cent of GDP against 5.8 per cent in the current financial year.
• Three major railway corridors were announced - the Port connectivity corridor, the energy, mineral, and cement corridor, and the High traffic density corridor.
• A corpus of rupees one lakh crore will be established with a fifty-year interest-free loan. This will encourage the private sector to scale up research and innovation significantly in sunrise domains.

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[sunilkumarpatnaik]

Tax on Bank Savings Intrest should be relieved upto Rs. 25, 000/- yrly in New Tax REGIME.

[anirudhmurphy]

2024 budget is more for BJP ruling states and the BJP alliance states. BJP ruling states enjoy all the powers and money from union. Regional parties and congress ruling states struggle to get the money from the union. It does not fulfill their states own schemes and states should spend their own money so it is possible to create a deficit. Why should we pay gst in return for what we get back??