Interim Budget 2024

Finance Minister Nirmala Sitharaman has today presented the interim budget for the second term of the Modi government. In this budget, much emphasis has also been given to the agriculture sector. 

Today the interim budget for the second term of the Modi government was presented by Finance Minister Nirmala Sitharaman. In which many announcements were made, an attempt has been made to take care of everyone in this budget. The budget has also been a lot of focus on the agriculture sector. Finance Minister Nirmala Sitharaman said that a comprehensive program will be made for dairy farmers.

While presenting the budget, Finance Minister Nirmala Sitharaman said that government assistance has been given to 11.8 crore farmers. Funds are being transferred directly to crores of farmers through the Prime Minister Kisan Samman Nidhi Scheme. Food providers across the country are getting the benefits of PM Kisan Yojana. Also, the benefit of PM Fasal Yojana is given to four crore farmers.

The growth of the agriculture sector has decreased to only 1.2 percent. For this reason, Finance Minister Nirmala Sitharaman has announced several measures in this time's Union Budget, so that the progress and development of the agriculture sector can be increased. 

Finance Minister Nirmala Sitharaman is presenting the budget for the financial year 2024-25 in Parliament. The Finance Minister said that employment opportunities are increasing in the country. Our government is doing all-inclusive development. India will become a developed state by the year 2047.

The following major announcements were made in the budget

No change in tax slab: The Finance Minister said in his budget speech that this time no change has been made in the tax slab. As before, the income tax limit will remain at Rs 7 lakh, due to which the employed will not get any benefit.

Announcement of free electricity: The Finance Minister announced in his budget speech that in the coming time, 1 crore families will benefit from rooftop solarization. He said that this would provide up to 300 units of free electricity monthly. The Finance Minister said that this is expected to save Rs 15,000 to 18,000. 

The government will bring a housing scheme: The Finance Minister has announced to give house to every poor. Sitharaman said the government will bring a new housing scheme to help people living in rented houses, slums, or unauthorized colonies buy their own homes.

The target of 4 crore houses will be completed: The Finance Minister said that the Modi government is committed to providing a house to every poor. He said that the government has handed over 2 crore houses to the poor and is close to achieving the target of 4 crore houses. Sitharaman said that our government has done the work of providing houses to 70 percent of women.

Medical colleges to expand: Sitharaman said the government is planning to set up more medical colleges using the existing hospital infrastructure. A committee will be formed for this.

Vaccination campaign for cervical cancer: Government will encourage vaccination for girls aged 9-14 years to eliminate cervical cancer.

Extension of Ayushman Bharat: Health care coverage under Ayushman Bharat has been extended to all Asha workers, Anganwadi workers, and helpers.

Defense expenditure increased: The Finance Minister said that the government has increased defense expenditure by 11.1 percent, which will be 3.4 percent of GDP.

Railways will be upgraded: 40 thousand Vande Bharat level railway coaches will be made. The Finance Minister said that 3 separate corridors will be created for more crowded railway routes.

Women become millionaires: The Finance Minister said that our government has planned to make 3 crore women lakhpati didis and till now one crore have been made lakhpatis.

An interim budget will be presented in the Parliament by Finance Minister Nirmala Sitharaman on 1 February 2024. It is believed that farmers can get a big gift from this budget. Due to the Lok Sabha elections this year, the full budget will be presented after the formation of the new government. Earlier, during the tenure of Prime Minister Narendra Modi, the interim budget was presented in 2019. Piyush Goyal, who took over the additional duties of the then Finance Minister Arun Jaitley due to his ill health, had presented the interim budget, along with many major announcements that were also made by the Parliament in the 2019 budget.

The amount of PM Kisan Yojana may increase

PM Kisan Samman Nidhi Yojana was announced in the interim budget of 2019. Under this scheme, an amount of Rs 6000 will be provided annually in three installments to farmers having land up to 2 hectares. More than 12 crore small and marginal farmers were included in this scheme. This amount will be increased to Rs 9000 per year in the budget to be presented in February 2024. It is expected that in the upcoming budget, the installments of PM Kisan Samman Nidhi can be increased, which is no less than a big blessing for the farmers. 

Also read: Uploading these documents is necessary to get the installment of PM Kisan Yojana.

Due to this, the amount of Mahila Samman Nidhi may also be doubled by the government. Besides, loans to women will also be provided at a lower rate of 1% compared to others. It is being told that the amount of Samman Nidhi for women farmers can be increased to Rs 12000. Besides, the government can also provide credit card facilities to provide loans to women farmers.

Can also announce health and life insurance for farmers

Given the Lok Sabha elections, the Modi government has asked to increase the amount in the Kisan Samman Nidhi scheme made for the farmers by 50 percent, and health and life insurance for the farmers can also be announced in the budget to be presented in the Parliament. 

Aman Puri, founder of Steadfast Nutrition, said India only spends 21% of GDP on health care, which is much lower than the world average of 6%. Recently many new diseases have been discovered, which have proved to be very fatal, which also require money. 

Also read: Big update on the 14th installment of PM Kisan has arrived, money will come into the account this month

A new framework is needed to prevent these diseases. In such a situation, the government needs to increase spending on health care.

Employees with a salary of more than Rs 10 lakh will get an exemption

It is being said in the budget to be presented on February 1, that employees whose income is above Rs 10 lakh can get relief in tax payment. Besides, many businesses and startups are also expected to get exemptions on tax payments. The government can provide great news on the matter of income tax. At present the discussion is that employees earning more than Rs 10 lakh can get relief in tax payment.

The government can take this decision for the agriculture sector

People have great expectations from the budget presented on Thursday. People in the agriculture sector have many expectations from this budget. He believes that with an agricultural loan of Rs 20 lakh, emphasis should be laid on achieving higher goals. In this, farmers should be stressed on increasing production by adopting new machinery and technology. If production increases, not only will farmers develop, but the economy will also become stronger.