Key takeaways from the interim budget 2024
Upstox
1 min read • Updated: February 1, 2024, 1:37 PM
Summary
Finance Minister Niramala Sitharaman presented the last budget ahead of the general election in May 2024. Here are key takeaways
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No changes related to tax rates. Retain tax rates for direct, indirect taxes. This means post-tax return economics stands unchanged across asset classes for investors.
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Fiscal deficit at 5.1%, adhering to the path of fiscal consolidation. Net borrowing of ₹11.75 lakh crore for FY25. As per market experts this is positive for bond markets
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Capital spending for 2024-25 has been raised 11% to ₹11.11 lakh crore, or 3.4% of GDP. Meanwhile, The government aims to raise ₹50,000 crore from stake sales in various public sector companies in 2024-25.
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Budget allocation for Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) scheme remains unchanged at ₹86,000 crore. Meanwhile the Ministry of Road Transport and Highways (MoRTH) has received higher allocation by 2.8% ₹2.78 lakh crore for 2024-25.
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The Interim Budget brought no cheer to home loan borrowers. There was no announcement on raising the existing home loan interest deduction limit of ₹2 lakh per annum.