Jaipur : Finance Minister Nirmala Sitharaman has presented the budget of the entire country for the year 2024-25 on behalf of the Modi government at the Center. The Finance Minister has not made very big announcements in this budget. But this budget is being described as visionary. However, the common people had a lot of expectations from the third term of the Modi government. But perhaps no special announcement has been made regarding basic facilities. By the way, the Finance Minister has not made any special announcement for Rajasthan. But despite this, one should know about what the people of Rajasthan (Budget for Rajasthan) will get through the Union Budget. Nirmala Sitharaman has also achieved a big achievement through this budget. Because Nirmala Sitharaman has created history by presenting the Union Budget in the Lok Sabha for the 7th consecutive time. Earlier, Morarji Desai had presented six consecutive budgets as the Finance Minister of India. But now Nirmala Sitharaman has broken this record and registered a new record. Let us tell you those 10 things of Nirmala Sitharaman’s budget which will also affect the people of Rajasthan.
10 big things of the budget
1. While beginning the budget, Finance Minister Nirmala Sitharaman said that there are 9 priorities in the budget. In which, apart from agriculture, employment, social welfare, urban development, energy security, the budget focuses on the poor, women, farmers and youth.
2. In the budget, the Finance Minister has announced the extension of Pradhan Mantri Garib Kalyan Yojana for 5 years. Under this, the government had started a scheme to provide free ration to the poor. Now this scheme will run till 2029. While more than 80 crore people will get the benefit of this scheme.
3. A package of Rs 1.5 lakh crore has been announced to increase productivity and capacity in the agriculture sector. Along with this, it has also been said that 9 high-yielding varieties of crops will be introduced. And in two years, one crore people across the country will be encouraged to adopt natural farming.
4. It has been announced in the budget that 4.1 crore youth will get employment and their skills will be enhanced by an allocation of Rs 2 lakh crore in five years. Along with this, a provision of Rs 1.48 lakh crore has been made for education, employment and skills in the budget for the financial year 2024-25.
5. The government will launch three employment related schemes. The government will provide e-vouchers directly to one lakh students every year, in which three percent interest subsidy of the loan amount will be given. Apart from this, the government will encourage 30 lakh youth entering the job market by giving one month’s PF contribution.
6. The Finance Minister announced that a loan guarantee scheme will be introduced for MSMEs in the manufacturing sector, under which there will be no need for guarantee for loans up to Rs 100 crore. He said that the loan needs of distressed MSMEs will be met through a government-backed fund. The government will reduce the turnover limit for MSME buyers to compulsorily join the TReDS platform from Rs 500 crore to Rs 250 crore.
7. In the Union Budget 2024-25, more than Rs 3 lakh crore has been allocated for schemes benefiting women and girls. Along with this, to promote the participation of women in the workforce, the government has announced to set up hostels for working women.
8. A big announcement has been made regarding income tax in the budget. Under the new tax regime, the standard deduction limit has been increased to 25000. After which, now the scope of standard deduction or 80C has increased to 75000 under the new tax regime. At the same time, changes have also been made in the income tax slab under the new tax regime.
9. The government has now changed the tax slab again under the new tax regime. However, the old tax regime has not been changed. Now in the new tax regime, income up to Rs 3 lakh will be tax free. After this
There is a provision of only 5% tax on ₹3 lakh to ₹7 lakh, 10% tax on ₹7 lakh to ₹10 lakh, 15% tax on ₹10 lakh to ₹12 lakh, 20% tax on ₹12 lakh to ₹15 lakh, 30% tax on income above ₹15 lakh. Let us tell you that earlier in the new tax regime, there was no tax on income up to ₹7 lakh.
10. The central government announced a major cut in custom duty on cancer medicines and mobile phones in its budget. Along with this, imported gold, silver, leather goods and seafood will also become cheaper. These announcements in the central government’s budget 2024-25 are going to have a direct impact on the people of all the states of the country including Rajasthan.
