{"id":252,"date":"2024-07-17T05:42:14","date_gmt":"2024-07-17T05:42:14","guid":{"rendered":"https:\/\/growup-india.com\/blog\/?p=252"},"modified":"2024-07-17T05:42:15","modified_gmt":"2024-07-17T05:42:15","slug":"union-budget-2024-driving-inclusive-growth-with-stability-and-innovation","status":"publish","type":"post","link":"https:\/\/growup-india.com\/blog\/union-budget-2024-driving-inclusive-growth-with-stability-and-innovation\/","title":{"rendered":"Union Budget 2024: Driving Inclusive Growth with Stability and Innovation&#8221;"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The Union Budget for 2024-25, presented by Finance Minister Nirmala Sitharaman, includes several key initiatives and highlights aimed at fostering economic growth, social welfare, and infrastructural development.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Union Budget 2024:  <strong>Social Welfare Initiatives:<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The Union Budget 2024 focuses on key themes aimed at driving India&#8217;s growth and development. <\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Social Justice:<\/strong> The government focuses on uplifting the poor, women, youth, and farmers. Programs such as PM-SVANidhi for street vendors, PM-JANMAN for vulnerable tribal groups, and PM-Vishwakarma for artisans provide targeted support.<\/li>\n\n\n\n<li><strong>Welfare of Farmers:<\/strong> Financial assistance continues through PM-KISAN SAMMAN Yojana and crop insurance under PM Fasal Bima Yojana. The e-NAM platform facilitates better market access for farmers.<\/li>\n\n\n\n<li><strong>Women&#8217;s Empowerment:<\/strong> Initiatives like the Mudra Yojana have granted 30 crore loans to women entrepreneurs, and the Lakhpati Didi scheme aims to economically uplift rural women through self-help groups.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Union Budget 2024: <strong>Economic and Taxation Measures:<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Taxation:<\/strong> The budget maintains the current tax regime with no changes in direct or indirect tax rates. Significant achievements include a doubling of tax collections over the past decade and a reduction in the average processing time for tax returns to 10 days.<\/li>\n\n\n\n<li><strong>Presumptive Taxation:<\/strong> Thresholds for retail businesses and professionals have been increased to Rs. 3 crore and Rs. 75 lakh, respectively, facilitating easier compliance.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Union Budget 2024: <strong>Infrastructure and Development:<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Infrastructure Investment:<\/strong> The capital expenditure outlay is increased by 11.1% to Rs. 11.11 lakh crore, which is 3.4% of GDP, to boost economic growth and employment.<\/li>\n\n\n\n<li><strong>Railways:<\/strong> The budget includes the conversion of 40,000 normal rail bogies to Vande Bharat coaches and the development of three major railway corridors to enhance freight and passenger services.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Also Read: <a href=\"https:\/\/growup-india.com\/blog\/2024\/07\/15\/how-to-a-section-8-company-registration-onl-a-step-by-step-guide-for-social-entrepreneurs\/\">How to a Section 8 Company Registration online: A Step-by-Step Guide for Social Entrepreneurs<\/a><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Fiscal Responsibility:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Fiscal Deficit:<\/strong> The budget sets a fiscal deficit target of 5.1% of GDP for FY25, with a long-term goal of reducing it to 4.5% by FY26. This approach aims to attract foreign investment and improve India&#8217;s financial stability.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Green Initiatives:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Sustainable Energy:<\/strong> Investments continue in rooftop solarization and green energy projects to promote sustainable development.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Union Budget 2024-25 Overall, the aims to balance growth and fiscal prudence, with substantial investments in infrastructure, social welfare, and economic reforms to drive India&#8217;s progress towards becoming a developed nation by 2047\u200b (<a href=\"https:\/\/pib.gov.in\/PressReleaseIframePage.aspx?PRID=2001130\" target=\"_blank\" rel=\"noreferrer noopener\">Press Information Bureau<\/a>)\u200b\u200b (<a href=\"https:\/\/www.livemint.com\/economy\/budget-2024-key-highlights-from-income-tax-to-green-energy-and-tourism-lets-take-a-look-at-the-14-key-points-11706765681802.html\" target=\"_blank\" rel=\"noreferrer noopener\">mint<\/a>)\u200b.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Union Budget for 2024-25, presented by Finance Minister Nirmala Sitharaman, includes several key initiatives and highlights aimed at fostering economic growth, social welfare, and infrastructural development. Union Budget 2024: Social Welfare Initiatives: The Union Budget 2024 focuses on key themes aimed at driving India&#8217;s growth and development. Union Budget 2024: Economic and Taxation Measures: 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