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The Highlights of Budget 2024
By Think Your Media/1 February

Budget 2024 focuses on fiscal responsibility, targeting a 5.1% GDP fiscal deficit. Innovation thrives with a ₹1 lakh crore corpus, offering 50-year interest-free loans, especially for tech-driven youth. Tax stability prevails, aiding business predictability. Startups enjoy continued support, and infrastructure sees an 11.1% boost to ₹11.11 lakh crore, underlining inclusive growth initiatives.

Fiscal Responsibility

FM Sitharaman aims for fiscal consolidation, reducing FY25 fiscal deficit target to 5.1% of GDP, demonstrating a commitment to responsible economic management.

Innovation Boost

A significant move to encourage research and innovation with a corpus of ₹1 lakh crore, offering 50-year interest-free loans to the private sector, particularly benefiting tech-savvy youth.

Tax Stability

No changes in direct and indirect tax rates, providing stability and predictability for businesses and taxpayers.

Startup Support

Continued support for startups with the extension of tax benefits and exemptions to certain IFSC units until March 2025, fostering a conducive environment for entrepreneurial growth.

Infrastructure Push

Substantial focus on infrastructure development, with an 11.1% increase in the infrastructure outlay to ₹11.11 lakh crore, including key projects like rail corridor programs and Vande Bharat coaches.

Empowerment and Social Welfare

Emphasis on inclusive growth with measures like housing schemes for the middle class, extension of healthcare cover under Ayushman Bharat, and comprehensive support for agriculture and dairy development.