Key points and features of the Union Budget

23-Jul-2024 07:53 PM

New Delhi. In the Union Budget presented in Parliament for the financial year 2024-25, it has been proposed to provide some assistance to all sectors. The following are the key points and features of the general budget:

✦ More than Rs 3 lakh crore has been allocated in the budget to promote women priority development, which will make it easier to start and operate the scheme for the benefit of women and girls.

✦ The limit of Mudra loan has been fixed at Rs 20 lakh from the current level of Rs 10 lakh to provide relief to those starting a private business.

✦ The government will launch a comprehensive and integrated scheme to provide internship opportunities in 500 top companies to one crore youth of the country in the next five years.

✦ Under the Pradhan Mantri Awas Yojana, the housing needs of 1 crore poor and middle income families in urban areas will be met and there is a provision to invest an amount of Rs 10 lakh crore in this scheme. This will be the second phase of the Urban Housing Scheme.

✦ The fourth phase of PMGSY will be launched to provide all-weather connectivity to 25 thousand rural habitations.

✦ Huge income tax relief to 4 crore salaried people and pensioners.

✦ The scope of standard deduction for people coming under the new tax structure has been increased from Rs 50 thousand to Rs 75 thousand.

✦ Deduction on family pension has been increased from Rs 15 thousand to Rs 25 thousand.

✦ Custom duty on X-ray panels, mobile phones and PCBA has been reduced to 15 percent. Similarly, custom duty on precious stones including gold and silver has been reduced to 6 percent, which will make them cheaper.