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*Key Interim Budget Announcements - 2024* _PART A_ ➡️ New solar power schemes launched by PM Modi recently would lead to saving of INR15,000-18,000 per households annually who install roof top solar panels. 1cr households will be enabled to get 300units per month fully free. ➡️ PM Awas Yojana Grameen: Close to achieving target of 3 cr homes; 2 cr more homes planned due to growing need. ➡️ Ayushmaan Bharat to cover all worker under ASHA and Anganwadi scheme. ➡️ Government to launch a scheme to help deserving sections of the middle class living in rented houses or slums or chawls and unathorised colonies to buy or build their own houses - Likely positive for Steel, Cement and Building material. ➡️ Corpus of 1 lakh crore to be established with 50 year interest free loans for sunrise domains. ➡️ Railway corridor-port connectivity under DFC - More than 2 corridors to be set up. Also, 3 more rail corridors for Energy, cement and mineral to be added, apart from DFC. ➡️ 40,000 rail bogies to be converted to Vande bharat standards. ➡️ The capex target of FY25 has been set at Rs 11.1 lakh crore, up by 11.1%. FY25 capex outlay at 3.4% of GDP. ➡️ Govt plans to set up more medical colleges by using existing hospital infrastructure and a committee for this will be set up to examine and make necessary recommendation. ➡️ Tourist centre developement - states to be encouraged to take up development of tourist centres- long term interest free loans to provided for states ➡️ More metro trains & namo bharat trains to be expanded to more cities. ➡️ Revised estimate of fiscal deficit is 5.8% of GDP. FY25 BUDGET-DEFICIT TARGET AT 5.1% OF GDP ➡️ INDIA SETS FY25 GROSS MARKET BORROWING INR14.13T, NET INR11.75T. _PART B_ ➡️ No changes in direct and indirect tax rates. ➡️ To Extend Tax Benefits For Start-Ups To March 31, 2025

Union Minister Nirmala Sitharaman delivers the Union Interim Budget for the fiscal year 2024-25 in Parliament: 🔹The Finance Minister announces that the fiscal deficit for the fiscal year 2023-24 has been revised to 5.8% of GDP, compared to the initially budgeted 5.9%. 🔹Finance Minister Sitharaman has declared that India will offer viability gap funding (VGF) to bolster the advancement of one gigawatt (GW) of offshore wind energy projects. 🔹The Finance Minister has stated that India will establish a payment security mechanism for electric vehicle (EV) buses. 🔹The Finance Minister has announced that India aims to double its seafood exports to INR 1 trillion. 🔹The Finance Minister has stated that India intends to broaden the application of Nano DAP on crops. 🔹The Finance Minister reports that the affordable housing scheme is nearing the accomplishment of 30 million houses, with plans to add an additional 20 million houses in the next five years. 🔹The Finance Minister asserts that the corridor linking India, the Middle East, and Europe represents a transformative development. 🔹The 10-year yield in India experiences a decrease of up to 9 basis points, reaching 7.05%. 🔹The Finance Minister announces that there are no proposed changes to the tax structure. 🔹The Finance Minister has stated that India will establish a payment security mechanism for electric vehicle (EV) buses. 🔹The Finance Minister has announced that India aims to double its seafood exports to INR 1 trillion. 🔹The Finance Minister has stated that India intends to broaden the application of Nano DAP on crops. 🔹The Finance Minister reports that the affordable housing scheme is nearing the accomplishment of 30 million houses, with plans to add an additional 20 million houses in the next five years. The Finance Minister asserts that the corridor linking India, the Middle East, and Europe represents a transformative development. 🔹The 10-year yield in India experiences a decrease of up to 9 basis points, reaching 7.05%. 🔹The Finance Minister announces that there are no proposed changes to the tax structure.

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