source: mint

Interim Budget 2024 Highlights by  Finance Minister

By codingstreets             Feb 02, 2024

The government said that the Budget was presented with a focus on economic policies that foster growth, facilitate inclusive development, improve productivity, and create opportunities for various sections.

Social justice as an effective governance model; Focus on the poor, youth, women, and the Annadata (farmers); Focus on infrastructure; Use of technology to improve productivity and High power committee for challenges arising from demographic challenges.

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India has had three consecutive years of 7% GDP growth and is the fastest growing economy in G20.

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GDP is Government, Development and Performance. We have delivered on Development and have better managed the economy. We are bringing down the fiscal deficit despite very challenging times.

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Capex from the government will continue, it is important to continue it.

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India, Middle East, European Corridor (IMEC) project to be taken forward despite disturbances in Red Sea.

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The withdrawal of 1.1 crore outstanding small direct tax demands for certain years will cost less than ₹3,500 crore to the exchequer.

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No extension of lower tax rate to new manufacturing units coming into place after March 2024.

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Do not have a fixed target for disinvestment in FY25.

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We are not only aligning with the fiscal consolidation path given earlier, but we are also bettering it.

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The relevance of the target to reduce the Centre’s debt-to-GDP ratio to 40% was set before COVID-19 period and now has to be examined.

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