Budget 2024 Updates:

Interim Budget presented on February 1, 2024:

• Focus: Sustainable growth, financial sector, infrastructure & investment, youth, and inclusive development.
• Capital Expenditure: Increased by 11.1% to Rs 11.11 lakh crore.
• Fiscal Deficit: Targeted at 5.1% of GDP for 2024-25.
• Tax Changes: No changes to direct tax rates and slabs for FY 2024-25. Individuals earning up to Rs 7 lakh remain tax-free under the new tax regime.
• Key Allocations:
  • Rs 2.55 lakh crore for Railways (highest ever).
  • Rs 90,170 crore for Health (13.8% increase).
  • Rs 1.25 lakh crore for Education.

Additional Points:

• Aim to reach a fiscal deficit below 4.5% by 2025-26.
• Focus on infrastructure development to boost economic growth.
• Continued support for social welfare programs.

Note: This is an interim budget. A full budget is expected to be presented by the new government after the upcoming elections.