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UPSC ESSAY PAPER 2024

UNION BUDGET 2024-2025 - HIGHLIGHTS • INDIA’S INFLATION CONTINUES TO BE LOW, STABLE AND MOVING TOWARDS THE 4 PERCENT TARGET • PM’S PACKAGE OF 5 SCHEMES AND INITIATIVES WITH AN OUTLAY OF ₹ 2 LAKH CRORE TO FACILITATE EMPLOYMENT, SKILLING AND OTHER OPPORTUNITIES FOR 4.1 CRORE YOUTH IN 5 YEARS • FOR PURSUIT OF ‘VIKSIT BHARAT’, THE BUDGET ENVISAGES SUSTAINED EFFORTS ON 9 PRIORITIES FOR GENERATING AMPLE OPPORTUNITIES FOR ALL • BUDGET 2024-25 FOCUSES ON EMPLOYMENT, SKILLING, MSME’s AND MIDDLE CLASS • NEW 109 HIGH-YIELDING AND CLIMATE-RESILIENT VARIETIES OF 32 FIELD AND HORTICULTURE CROPS WILL BE RELEASED FOR CULTIVATION BY FARMERS • IN THE NEXT TWO YEARS, 1 CRORE FARMERS ACROSS THE COUNTRY WILL BE INITIATED INTO NATURAL FARMING • A PROVISION OF ₹ 1.52 LAKH CRORE FOR AGRICULTURE AND ALLIED SECTOR ANNOUNCED FOR THIS YEAR. • 1,000 INDUSTRIAL TRAINING INSTITUTES WILL BE UPGRADED • GOVERNMENT WILL FORMULATE A PLAN, PURVODAYA, FOR THE ALL-ROUND DEVELOPMENT OF THE EASTERN REGION COVERING BIHAR, JHARKHAND, WEST BENGAL, ODISHA, AND ANDHRA PRADESH • FOR PROMOTING WOMEN-LED DEVELOPMENT, THE BUDGET CARRIES AN ALLOCATION OF MORE THAN ` 3 LAKH CRORE FOR SCHEMES BENEFITTING WOMEN AND GIRLS • A PROVISION OF ₹ 2.66 LAKH CRORE FOR RURAL DEVELOPMENT INCLUDING RURAL INFRASTRUCTURE MADE THIS YEAR • THE LIMIT OF MUDRA LOANS WILL BE ENHANCED TO ₹ 20 LAKH FROM THE CURRENT ₹ 10 LAKH • GOVERNMENT TO LAUNCH A COMPREHENSIVE SCHEME FOR PROVIDING INTERNSHIP OPPORTUNITIES IN 500 TOP COMPANIES TO 1 CRORE YOUTH IN 5 YEARS • UNDER PM AWAS YOJANA URBAN 2.0, HOUSING NEEDS OF 1 CRORE URBAN POOR AND MIDDLE-CLASS FAMILIES WILL BE ADDRESSED WITH AN INVESTMENT OF ₹ 10 LAKH CRORE • PHASE IV OF PMGSY WILL BE LAUNCHED TO PROVIDE ALL-WEATHER CONNECTIVITY TO 25,000 RURAL HABITATIONS • EMPHASIS ON EXPANDING THE SPACE ECONOMY BY 5 TIMES IN THE NEXT 10 YEARS WITH A VENTURE CAPITAL FUND OF ₹ 1,000 CRORE • MAJOR RELIEF TO 4 CRORE SALARIED INDIVIDUALS AND PENSIONERS IN INCOME TAX • STANDARD DEDUCTION INCREASED FROM ₹ 50,000 TO ₹ 75,000/- FOR THOSE IN NEW TAX REGIME • DEDUCTION ON FAMILY PENSION INCREASED FROM ₹ 15,000/- TO ₹ 25,000/- • OVER 58 PERCENT CORPORATE TAX RECEIPTS COLLECTED UNDER THE NEW REGIME • TWO THIRD OF INDIVIDUAL INCOME TAXPAYERS SWITCHED OVER TO NEW INCOME TAX REGIME • ANGEL TAX ABOLISHED FOR ALL CLASS OF INVESTORS TO BOOST START-UPS AND INVESTMENTS • CORPORATE TAX ON FOREIGN COMPANIES REDUCED FROM 40 TO 35 PER CENT TO INVITE INVESTMENTS • 5 PER CENT TDS ON MANY PAYMENTS MERGED TO 2 PER CENT TDS • CAPITAL GAIN EXEMPTION LIMIT INCREASED TO ₹ 1.25 LAKH PER YEAR TO BENEFIT LOWER AND MIDDLE INCOME CLASSES • CUSTOM DUTY ON X-RAY PANELS, MOBILE PHONES & PCBA REDUCED TO 15 PER CENT • PRECIOUS METALS INCLUDING GOLD AND SILVER TO BECOME CHEAPER, CUSTOM DUTY REDUCED TO 6 PER CENT

Union Budget 2024-25

CSE(P) 2024 - Result Out

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