In-Depth Analysis: Noteworthy Points from the Budget FY 2024-25

The Govt will lay a white paper in house on mismanagement of the economy before 2014.

Direct & In Direct Tax:

No Changes in Income Tax Slabs as well as No Change in Tax rates for Company, LLP or any other person. “I propose to retain the same tax rates for direct and indirect taxes including import duties” – Finance Minster Niramala Sitharaman.

Some Exemption to Startups and Extend some concession – extension of tax sops for sovereign wealth funds and startups to March 2025

Tax payers service – Withdrawal of direct tax demands of period upto ₹25000 for period upto 2009-10 and ₹10000 for period upto 2014-15, 1 Crore people will benefit.

GST has enabled One Nation One Market One Tax.


Skill India Mission has trained 1.4 crore youth, upskilled and re-skillled 54 lakh youth and established 3,000 new ITIs.  Large number of institutions of higher learning namely 7 IITs, 16 IIITs, 7 IIMs, 15 AIIMSs and 390 universities have been set up. The National Education Policy 2020 is ushering transformational reforms.

Core Focus Group – Garib, Mahila, Annadata and Yuva:


Worries about food have been eliminated with free rations for 80 crore people. 25 crores Indians were pulled out of multidimensional poverty by the govt over the past 10 yrs. Avg real income has increased by 50 per cent.

The earlier approach of tackling poverty resulted in very modest outcomes. When the poor became empowered partners in the development process, the government’s power to assist them increases the manifold. In the last 10 years, the government has assisted 25 crore people to get freedom from multidimensional poverty.


Female enrolment in higher education has gone up by 28 per cent in 10 year. In STEM courses, girls and women constitute 43% of enrollment, one of the highest in the world. All these are getting reflected in increasing participation of women in the workforce.

Making Triple Talaq illegal, one third women’s reservation in Lok Sabha and state assemblies, giving over 70% houses under PM Awas Yojana in rural areas to women as sole or joint owners have enhanced their dignity.

Empowerment of Women through entrepreneurship, ease of living and dignity has gained momentum in last 10 years. 30 crore MUDRA Yojana loans have been given to woman entrepreneurs.

A committee to set up more medical colleges, free cervical Cancer vaccines for girls from 9-14 years. Ayushman Bharat scheme cover will be extended to all Asha, Anganwari workers and helpers


Every year under PM Kisan Samman Yojana, Direct financial assistance is provided to 11.8 crore farmers, including marginal and small farmers. Govt could save 2.7-lakh crore through avoidance of leakages. Electronic agri Mandi has connected 1051 mandis, transacting ₹2-lakh crore.

Minimum support prices for ‘Annadata’ (farmers) increased periodically. Direct financial assistance was extended to 11.8 crore farmers. Nano DAP on various crops will be expanded in all agro-climatic zones. After successful adoption of nano urea, Nano DAP application on various crops will be expanded in all agroclimatic zones. Electronic National Agricultural Market has integrated 1,361 mandis and is providing services to 1.8 crore farmers with a trading volume of 3 lakh crores of rupees. The sector is poised for inclusive, balanced and higher growth and productivity.

Government will further promote private and public investment in post harvest activities including aggregation, modern storage, supply chains, primary and secondary processing, marketing and branding


PM Mudra Yojana has sanctioned 43 crore loans amounting to Rs. 22.5 lakh crore for entrepreneurial aspirations of your youth. Fund of Funds, Startup India and Startup Credit Guarantee Schemes are assisting our youth.

Charging of electric vehicles Entrepreneurship opportunities to a large number of vendors for supply and installation, employment opportunities for youth with technical skills in manufacturing, installation and maintenance


Matsya Sampada Yojana to be expanded to generate more employment, increase earnings. Fisheries scheme to help reach the target of INR 1 lakh crore exports


The country received its highest ever medal tally in Asian Games and Asian Para Games in 2023. Chess prodigy and our No. 1 ranked player Praggnanandhaa put up a stiff fight against world champion Magnus Carlsen in 2023, today, India has over 80 chess grandmasters compared to little over 20 in 2010

Foreign Relation:

India built consensus on global problems, the recently announced India Middle East Europe Economic Corridor is a strategic and economic game changer for India and others. India, U.S.A., Europe sponsored the Middle East-Europe corridor: potential gateway for world trade for 100s of years.

India assumed G20 Presidency during very difficult times, global economy was going through high inflation, low growth, high interest rates, very high public debt, low trade growth and climate changes. Pandemic has led to a crisis of food, fertilizer, fuel and finances while India successfully navigated its way and showed the world the way forward

Government Schemes:

PM SVANIDHI has provided credit assistance to 78 lakh street vendors, from that total, 2.3 lakh have received credit for the third time.

PM JANMAN Yojana reaches out Particularly Vulnerable Tribal Groups

PM Vishwakarma Yojana provides end to end support to artisans and craftspeople

Scheme for empowerment of Divyang and transgender people reflects our resolve to leave no one behind.

2cr more houses will be built under PM Awas Yojana Gramin. 1cr houses will be taken to rooftop solar units to generate free electricity. Housing for Middle Class, Govt will launch a new scheme to buy and build their own houses.

PM Mudra Yojana has sanctioned 43 crore loans amounting to Rs. 22.5 lakh crore for entrepreneurial aspirations of our youth.

Despite the challenges due to COVID, implementation of PM Awas Yojana Rural continued and we are close to achieving the target of 3 crore houses. 2 crore more houses will be taken up in the next 5 years

“This scheme follows the resolve of the Prime Minister, on the historic day of consecration of Ram Mandir in Ayodhya” – Niramal Sitharaman

India in Economics:

Working to make India a Vikasit Bharat by 2047. GIFT IFSC and Unified Regulatory Authority IFSCA are creating a robust gateway for global capital and financial resources. Proactive inflation management has helped keep inflation within the policy band.

Revised fiscal deficit estimated for FY24 has been pegged at 5.8% of GDP lower than earlier estimate of 5.9% in BE and the deficit for FY25 is pegged at 5.1%.

Besides delivering on high growth, the government is equally focussed on a more comprehensive GDP – I.e., Governance, Development and Performance.

FDI inflows stand at $596 billion, twice more than 2014-15. FDI inflow during 2014 to 2023 was Rs 596 billion US dollars, marking a golden era. This was twice the FDI inflow between 2005 to 2014. For sustained FDI, we are negotiating bilateral investment treaties with foreign partners

FDI is ‘First Develop India’ – Nirmala Sitharaman


1-lakh crore corpus will be made available with 50 year interest free (long-term financing or refinancing) to encourage the private sector to scale up R&D. Corpus of 1 Lakh Crore for Reduced Rate Loans to Private Sector for Research in Sunrise Domains

Social Justice:

For our government, social justice is an effective and necessary model. Social Justice was largely a political slogan. For the current government, social justice is an effective and necessary governance model !! The govt will form a high powered committee to address the concerns of fast population growth and demographic change.

The saturation approach of covering all eligible people is the true and comprehensive achievement of social justice. This is secularism in action, reduces corruption, prevents nepotism. There is transparency and assurance that benefits are received to all eligible people, all regardless of their social standing get access to opportunities. They are addressing systemic inequalities which have plagued our society, our focus is on outcomes and not on outlays so that socioeconomic transformation is achieved.

The government is ready to assist states in faster development of aspirational districts and blocks the Government will pay utmost attention to make the eastern region and its people a powerful driver of India’s growth

To ensure housing for the middle class, the government will launch a scheme for the middle class. This is to help them to buy or build their own houses for those living in slums, chawls or rented houses.

Rooftop solarisation and free electricity

Rooftop solarisation and free electricity Through rooftop solarisation, 1 crore households will be enabled to obtain up to 300 units of free electricity every month. Through rooftop solarisation, 1 crore households will be enabled to obtain up to 300 units of free electricity every month


To address fervour for domestic tourism, projects for port connectivity, tourism infra & amenities will be taken on our islands including Lakshadweep.


40,000 normal railway bogies will be converted to vande Bharat standards.

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