On February 1, Union Finance Minister Nirmala Sitharaman gave a presentation of her sixth budget. In advance of the general elections later this year, this was an interim budget. The Interim Budget 2024 preserved fiscal consolidation and continued capital expenditures while emphasizing the empowerment of women and youth.
- According to Sitharaman, the next five years will see unheard-of growth as the nation works towards its 2047 development target. She stated that the “trinity of democracy, demography and diversity can fulfill the expectations of every Indian”.
- The FM declared that tax receipts have more than doubled over the past ten years, despite the fact that the tax framework remained unchanged in this budget.
- The FM indicated that the capital expenditure outlay for the upcoming year will increase by 11.1 percent to 11.11 lakh crore, building on the unprecedented tripling of the expenditures in the previous four years, which has had a huge multiplier effect on job creation and economic development creation.
- FM Sitharaman declared that in order to improve passenger safety, convenience, and comfort, 40,000 standard rail bogies will be upgraded to Vande Bharat.
- FM declared that nine crore women and eighty-three lakh SHGs (self-help groups) are changing the socio economic landscape of rural areas via empowerment and independence. Almost one crore women have already benefited from their achievement by becoming “Lakhpati Didis.” Encouraged by the outcome, the goal for “Lakhpati Didi” has been increased from 2 crore to 3 crore.
- Ten million households will be able to receive up to 300 units of no cost electricity per month through rooftop solarization.
- On all of the islands, including Lakshadweep, projects pertaining to port connection, tourist infrastructure, and amenities will be undertaken. Additionally, this will aid in creating jobs for the citizens.
- By March 2024, the government hopes to build 3 crore pucca dwellings as the finance minister said in the address that they were getting closer to this target. A further commitment to building two crore more residences over the next five years is shown by this proposal.
- Ayushman Bharat scheme to cover all anganwadi and Asha kentras along with promotion of schemes such as PM Jan Dhan, PM KishanSaman, PM Vishawakarma Yogna.
- Promise of launching affordable housing schemes for the middle class along with woman upliftment tasks such as illegalizing Triple Talaq.
