Key Takeaways from Budget 2024

By :  Sachin Gupta 

Published : 01 February 2024

On February 1, 2024 Finance Minister Nirmala Sitharam announced an interim budget promising the continuation of the government's policies and priorities of reforms and overall development. The government has achieved a reasonable balance between distributing resources for development while adhering to fiscal consolidation. 

#1 Housing for Middle-Class Scheme:

The government will begin the "Housing for Middle Class" scheme to encourage middle-class families to buy or build their own homes.

#2 Pradhan Mantri Awas Yojana to add 2 crore houses:

The Pradhan Mantri Awas Yojana (Grameen) is reaching its aim of 3 crore houses, with an extra goal of 2 crore units set for the following five years.

#3 Accelerating Saksham Anganwadi and Poshan 2.0:

Accelerate the Saksham Anganwadi and Poshan 2.0 initiatives to improve early children care, development, and nutrition delivery.

#4 Promoting Vaccination for Cervical Cancer:

Encouraging girls aged 9 to 14 to get vaccinated against cervical cancer.

#5 Extending health coverage under Ayushman Bharat:

Extending health coverage to all ASHA, Anganwadi workers, and assistance under the Ayushman Bharat initiative.

#6 Capital expenditure raised by 11%

The country has increased its capital expenditure by 11% to ₹11.11 lakh crore, or 3.4% of GDP, during 2024–2025.

#7 No change in Tax rates:

Rates of direct and indirect taxes remain unchanged. The tax structure remains unchanged.

#8 Rooftop solarization for 1 crore households:

Enabling rooftop solarization for one crore families, resulting in a monthly supply of up to 300 units of free electricity.

#9 Developing new airports under UDAN Scheme:

Extending the reach of current airports and developing new airports in their entirety under the UDAN program.

#10 Implementation of 3 major railway corridors:

Three significant railway corridor projects are being implemented under PM Gati Shakti to cut expenses and improve logistical effectiveness.