Budget: FM Sitharaman proposed 5 proposals for middle class...

S Venkateshwari
Budget: FM Sitharaman proposed 5 proposals for middle class...

 The Interim Budget 2024, as expected, kept its focus on improving infrastructure and expanding connections across the nation while making no major announcements. On thursday, Finance minister Nirmala Sitharaman delivered her sixth consecutive budget in the shortest speech of her career—56 minutes.

Income-tax

Finance minister Nirmala Sitharaman presented a vote on an interim budget for 2024–25, although she did not suggest changing the rates of income tax for people and corporations or the amount of customs duty. She summarized the accomplishments of the Modi administration in the last ten years, which have turned india from a "fragile" economy to the fastest-growing major economy in the world, in less than an hour-long budget address.

Middle-class housing 

Finance minister Nirmala Sitharaman proposed a scheme on thursday that would help those who are homeless or living in rented accommodation buy a home, with the goal of appealing to the middle class ahead of the general elections. 

PM Awas Yojana 

In addition, she declared that 2 crore new dwellings for the impoverished in rural areas would be built over the course of the next five years as part of the ongoing PM Awas Yojana (Gramin). Despite all of the difficulties, the program's execution went on, reaching its goal of over 3 crore dwellings and currently aiming for 2 crore more to be taken up in the following five years.

Extending for a further year the tax benefits for startups

The administration on thursday suggested extending the tax break for new businesses and investments made by pension funds or sovereign wealth funds by an additional year, until march 2025. 

Solar energy on rooftops and free electricity

Rooftop solarization will benefit one crore homes by supplying up to 300 units of free electricity per month. Benefits such as potential savings of between Rs. 15,000 and Rs. 18,000 and the ability to sell excess electricity to discoms are anticipated.





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