No change in income tax slabs, know the important points of the interim budget

Finance Minister Nirmala Sitharaman today presented the budget for the financial year 2024-25 in Parliament. Sitharaman has not made any new announcement regarding income tax during her budget speech. Income tax slab remained the same. There is no tax liability for those earning up to Rs 7 lakh. Nirmala Sitharaman said that the fiscal deficit is estimated to be 5.1% of GDP in 2024-25.

Salient Features of the Budget:

• No tax on income up to Rs 7 lakh in tax regime
• Three major economic railway corridors will be implemented. The minister said that three major economic railway corridors will be implemented, these are-

1) Energy, Mineral and Cement Corridor,

2) Port Connectivity Corridor,

3) High Traffic Density Corridor. Projects have been identified under PM Gatishakti to enable multimodal connectivity.

• 41 thousand coaches are being made for Vande Bharat
• 40,000 ordinary railway bogies will be converted to Vande Bharat standards for the safety, convenience and comfort of passengers.
• Four crore farmers benefited from PM Fasal Yojana
• Four crore farmers have got the benefit of PM Fasal Yojana. We are moving rapidly towards the development of wind energy.
• Poor families will get 300 units of free electricity
• 300 units of free electricity will be provided through solar energy to 1 crore houses in the country.
• Ayushman Bharat facility to Anganwadi workers
• All Asha workers, Anganwadi workers and helpers will also be covered under the Ayushman Bharat scheme. Nirmala Sitharaman said, “For further growth of the agriculture sector, the government will further promote public and private investment in post-harvest activities.
• Built 3 crore houses, will build 2 crore more houses
• Training of one crore youth, 3000 new ITIs established
• 30 crore Mudra Yojana loans given to women entrepreneurs in 10 years
• 10. India will become developed by 2047: Nirmala Sitharaman
• Responding to the interim budget, Samajwadi Party chief Akhilesh Yadav wrote on Twitter, 'If any budget is not for development.
• Prime minister Narendra Modi hailed the budget saying that it would boost economic development of the country and benefit the poor.
• On the interim budget 2024-25, Congress MP Karti Chidambaram said, this budget is only an administrative exercise to ensure that the Government of India has the necessary funds to run its normal functioning till the formation of the new Parliament and the formation of the new government. And that's what they've done, apart from making their obligatory self-congratulatory, self-praise phrases, there's nothing there and there shouldn't have been anything there, and rightly so. There's nothing there."