Interim Budget - A short-term financial plan 2024

[CSSwati Dodhi]

 'Citizen First' - Minimum Government and Maximum Governance Approach

• "FDI now means 'First Develop India'".
• Four groups - Garib, Mahilaye, Yuva and Annadatta (the poor, women, youth and farmers)  - are a priority for the government. 
• Finance Minister Nirmala Sitharaman said benefits of Ayushman Bharat will be extended to all ASHA and Anganwadi workers.
• Finance Minister said the government will help "deserving sections" of middle class to build their own houses.
• A corpus of ₹ 1 lakh crore will be established with 50-year interest free loan to provide long term financing with long tenure with no or less interest rates.
• Roof-top solarization scheme - Solar panels rooftops to give 1 crore households 300 units of free electricity per month.
• 'GDP' -  Focus on more comprehensive 'Governance, Development, Performance'.
• "Garib Ka Kalyan, Desh Ka Kalyan" - FM said the government has helped 25 crore people to get freedom from poverty in last 10 years.
• Helping  tribal groups who have remained outside domain of development.
• Focusing on four major groups - Poor, Women, Youth and the farmers [Annadatta].
• No change is expected in tax rates for individual taxpayers opting for the regular tax regime. 
• Goods Service Tax (GST)  has created  'one nation one market one tax'.  
• Any hesitant in opting for the new regime, to increase its acceptance, the government may allow deductions under 80C in this regime.
• No proposals to be made on tax rates - direct or indirect taxes including import duties.
• Tax benefits for startups, investments made by sovereign wealth, pension funds to be extended to March 2025.
• Government to promote private investment in post harvest activities.
• Strengthening financial sector in terms of size, capacity, skills, regulatory framework, to meet Investment needs.
• Empowering Women's participation in workforce - Making triple talaq illegal, reservation of 1/3 seats for women in Parliament and state assemblies, over 70 % houses under PM Awas Yojana to women.