1. Interim Budget 2024 Highlights in Hindi

Interim Budget 2024 Highlights in Hindi

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Upstox

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3 min read • Updated: February 2, 2024, 2:23 PM

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Summary

The Interim Budget 2024 is here! Let's dive into the impact on your life, the nation's economy, and how the markets reacted. Did it live up to the expectations of something special before the elections?

The Interim Budget 2024 is here! Let's dive into the impact on your life, the nation's economy, and how the markets reacted. Did it live up to the expectations of something special before the elections?

💸 Tax Slabs Unchanged Let's start with your pocket – any changes in income tax slabs or rates? Unfortunately, no changes were made to income tax slabs, and direct and indirect tax rates, including import taxes, remained untouched. But is there more to the budget for you? Absolutely.

💼 Relief from Old Tax Disputes Some relief on the tax front! The government has decided to resolve long-pending small-scale tax disputes. Outstanding tax amounts up to ₹25,000 until FY2009 and ₹10,000 between FY2011-FY2015 will be waived off, benefiting nearly 1 crore taxpayers.

🏡 Owning a Home to Become Easier? Dreaming of owning a home? The budget brings good news! The government plans to introduce a new housing scheme for the middle class. Additionally, schemes for slum dwellers and those living on rent are in the pipeline. Under PMAY-Gramin, 2 crore more houses are expected to be built in the next 5 years.

✈️ Govt Wants More Indians to Fly! For those with wings, the government is expanding the UDAN scheme with 517 new air routes. There's also a focus on boosting tourism on islands, including projects in Lakshadweep.

🌐 What’s in It for India’s Economy? Moving beyond personal impact, let's look at what the budget holds for India's economy. Capital expenditure, the spending on infrastructure like roads and bridges, is crucial for economic growth. The planned capex outlay for FY25 is ₹11.1 lakh crore.

💰 Show Us the Money! Talking about expenditures, where is the government getting the money from? Total revenue receipts for FY25 are estimated at ₹30 lakh crore. Additionally, the government aims for divestment, with a target of ₹50,000 crore in FY25.

📉 The Most Crucial Fiscal Announcement Now, let's talk about the most critical announcement – fiscal deficit. The fiscal deficit target for FY25 is set at 5.1%, better than expectations. A lower fiscal deficit means the government will borrow less. Gross borrowings for FY25 are estimated at ₹14.13 trillion.

📈 ** Markets’ Reaction to the Interim Budget** Finally, the markets. The reaction was balanced – not too high, not too low. Specific industries saw movement:

  • PSU Stocks 🔼: PSU banking stocks rose due to reduced government borrowings.
    • Energy Stocks 🔼: The rooftop solar scheme announcement boosted energy stocks.
  • Aviation Stock 🔼: Expansion of the UDAN scheme lifted aviation stocks.
  • Defence, Realty & Railway Stocks 🔽: Sectors with no significant announcements experienced a slowdown.