Major Highlights From Union Budget 2024!

All eyes are on the Lok Sabha as Finance Minister Nirmala Sitharaman will table the Union Budget. This is the first budget of the union government in Narendra Modi’s third term. She announced the budget and said that the Union Government is focusing on nine issues.

The Union Minister said that there are nine priorities in the budget namely

Productivity resilience in agriculture

Creating Employment and skilling

Improving Human Resources, social justice

Manufacturing-services

Urban Development

Energy Security

Infrastructure

Innovation, research, and development

next-gen reforms.

Let us have a look at the highlights of the Union Budget:

-Skill training for 20 lakh youth in the next five years

-One-month wage for New Entrants

-Job creation in the manufacturing sector

-Internship Program with Rs 5000 stipend

-Massive allocation of Rs 1.52 lakh crore for Agriculture and related sectors

-2 crore farmers will be encouraged in Natural Farming

Pradhan Mantri Suraksha Bima Yojana to be continued

Rs 10 lakh Crore budget for Pradhan Mantri Awas Yojana

Reduction of custom duty on Gold, Silver(6%), Platinum(6.4%)

Three medicines used in cancer treatment are exempted from customs duty

A special fund to encourage space technology

Support For Vishnupad Temple Corridor and Mahabodhi Temple Corridor

100 street food hubs to be developed across cities

The Mudra loans limit doubled to Rs 20 lakh from the existing Rs 10 lakh

Rs 26,000 crores to Bihar for highway projects and bridges

Rs 15000 crores to Andhra Pradesh for Amaravati

Changes In New Income Tax Regime Slab:

0-3 lakh: NA

3-7 lakh: 5%

7-10 lakh: 10%

10-12 lakh: 15%

12-15 lakh: 20%

Above 15 lakh: 30%

Let us have a look at the allocations that were made for Andhra Pradesh in the budget.

Special help for Amaravati development with Rs 15000 cr

Additional funds to Amaravati in the future based on the need

Complete help to Polavaram for early completion of the project

Required funds location for Polavaram

Completion of the Polavaram Irrigation Project to ensure the food security of the nation

Special help for industrial development in the state

Special help for Visakhapatnam- Chennai, Hyderabad-Bengaluru industrial corridors.

Development funds for industrial parks in Kopparthi And Orvakal