Budget FY 2024-25 Highlights Download PDF: Key Takeaways from FM Nirmala Sitharaman Speech Today

Updated: Tuesday, July 23, 2024, 13:52 [IST]

In Finance Minister Nirmala Sitharaman's record seventh Budget, substantial focus has been placed on employment, skilling, and agriculture. The 2024 Budget, marking the beginning of the Modi 3.0 government, is poised to set the stage for transforming India into 'Viksit Bharat' by 2047.

Budget FY 2024-25 Highlights Download PDF Key Takeaways from FM Nirmala Sitharaman Speech Today

Key Announcements Include:

Priority Areas for FY24-25: The Budget outlines nine priority areas: productivity and resilience in agriculture, employment and skilling, inclusive human resource development and social justice, manufacturing and services, urban development, energy security, infrastructure, innovation and R&D, and next-gen reforms.
Skilling and Employment Initiatives: Five new schemes with a budget of Rs 2 lakh crore aim to upskill and create employment opportunities for 4.1 crore youth over the next five years. A new scheme will offer a one-month wage of up to Rs 15,000 to those joining the formal sector, benefiting 2.1 crore youths.
Internship Program: A scheme will provide internships at the top 500 companies to 1 crore youth over five years. Interns will receive Rs 5,000 per month along with a one-time assistance of Rs 6,000.

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Employment-Linked Incentives: The government will introduce three new schemes to offer employment-linked incentives.
Agriculture Funding: An allocation of Rs 1.52 lakh crore has been made for agriculture and allied sectors. The plan includes helping 1 crore farmers adopt natural farming practices within two years and releasing 109 new crop varieties.
FDI Rules: Simplified FDI regulations are aimed at boosting inflows, prioritizing investments, and promoting the use of the rupee.
Inflation: The Finance Minister noted that inflation remains low and is moving toward the 4% target.
Purvodaya Initiative: The government will launch the Purvodaya scheme for the comprehensive development of Bihar, Jharkhand, West Bengal, Odisha, and Andhra Pradesh.
Student Loans: E-vouchers worth Rs 10 lakh will be issued to 1 lakh students for interest subvention of 3% on their loans.
Support for Andhra Pradesh: Rs 15,000 crore will be allocated to Andhra Pradesh, with additional funds expected in future years.
Housing: Three crore additional houses are planned for rural and urban areas, with necessary allocations made to support this initiative.