FM Sitharaman aims for fiscal consolidation, reducing FY25 fiscal deficit target to 5.1% of GDP, demonstrating a commitment to responsible economic management.
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.
No changes in direct and indirect tax rates, providing stability and predictability for businesses and taxpayers.
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.
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.
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.