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Nirmala Sitharaman, India’s Finance Minister, presented the Union Budget 2024–25, which includes a number of important highlights and initiatives aimed at encouraging economic growth and inclusion. Here are the central matters:

Reduced Fiscal Deficit: According to Live Mint, the government intends to reduce its fiscal deficit from 4.9 percent of GDP in FY25 to 4.5 percent in FY26. Taxation: There were no new tax rates proposed. A number of investments and startup tax breaks have been extended. Many taxpayers will gain from the government’s announcement of the withdrawal of outstanding direct tax demands up to a certain amount

Under PMAY 2.0, a significant amount of money has been invested in urban housing and the Pradhan Mantri Awas Yojana (PMAY) has been expanded to include an additional 3 crore houses.

A significant venture of ₹10 lakh crore has been dispensed for metropolitan lodging, exhibiting the public authority’s obligation to tending to metropolitan lodging needs

Know More: Union Budget: Govt to strike a balance between fiscal deficit, capex for growth, social spending

MSME Assistance:

MSMEs now have access to a comprehensive financial and technology support package.

A Public-Private Partnership (PPP) model will be used to establish E-Commerce Export Hubs to assist MSMEs in international product marketing.

A brand-new credit guarantee program with coverage of up to 100 crore for manufacturing micro, small, and medium-sized enterprises (MSMEs)

Loans of up to 7.5 lakh are now possible under a revised skilling loan program

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The government’s focus on inclusive growth, infrastructure development, digital advancement, and fiscal prudence are reflected in these measures. You can look to Livemint and the Press Information Bureau for more in-depth information.