Description :- The interim budget was presented by FM Nirmala Sitharaman in the Lok Sabha today. Check out the highlights

The government presents a budget every year. This year 2024, an interim budget was announced before the elections.

An interim budget gives a picture of the current financial situation and steps needed going forward. A full budget with more details comes after the new government is chosen in the elections.

Some highlights of this year’s interim budget:

1. Fiscal deficit target – The government plans to borrow less compared to last year. This will be 6.4% of total GDP, which is considered decent.

2. Income tax – There are no changes to existing tax rates this time. But next time, the government may increase the minimum income level not paying any taxes.

3. Infrastructure – About ₹10 lakh crore is planned to be invested in infrastructure like roads, railways, ports etc. This will create jobs.

4. Agriculture – Farm loan interest subvention scheme will continue. Also more funds for rural development and farmer welfare.

In short, – no major changes this budget before elections. Main focus is on keeping deficit in check while spending on infrastructure and agriculture too. Detailed plans post elections!

Source of News : https://www.thehindu.com/business/budget/interim-budget-2024-highlights/article67799651.ece