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Indian economy witnessed profound positive transformation in last 10 years, said Union Finance Minister Nirmala Sitharaman as she presented her sixth straight Budget ahead of the Parliamentary elections.
She said that the people of India are looking ahead to the future with hope and options. Structural reforms, pro-people programmes & employment opportunities helped the economy get new vigour, she said.
Sitharaman in her pre-election budget, which is an interim Budget, sought Parilament`s nod for a grant in advance to meet the expenditure for the first four months of the new fiscal year ahead of the Lok Sabha polls. After the new government comes into power, they will present the full budget.
"When we assumed office in 2014, the country was facing enormous challenges. With `Sabka Sath Sabka Vikas` as its mantra, the government overcame those challenges," she added.
Here are the key highlights of interim budget
• 30 crore MUDRA Yojana loans have been given to women entrepreneurs.
• Female enrollment in higher education has gone up by 28 per cent in 10 years; in STEM courses, girls and women constitute 43 per cent of enrollment.
• A scheme to be launched to help deserving sections of the middle class living in rented houses or slums or chawls or unauthorised colonies to buy or build their own houses, says Sitharaman.
• Govt will be setting up more medical colleges utilising existing hospital infrastructure, said FM Sitharaman. A committee is to be set up to examine issues and make recommendations, she added.
• Budget Estimates for 2024-25: Total receipts other than borrowings: Rs. 30.80 lakh crores; Total expenditure: Rs. 47.66 lakh crores; Tax receipts: Rs. 26.02 lakh crores
• Fiscal deficit in 2024-25 is estimated to be 5.1% of GDP, adhering to the path of fiscal consolidation. The revised estimate of the fiscal deficit for FY 2023-24 is 5.8 per cent of GDP, Sitharaman said.
• No changes were made to Income Tax slabs. Direct and Indirect tax rates will also remain the same, Sitharaman said.
• Govt to expand EV ecosystem for supporting charging infra; e-buses for public transport network to be encouraged, said Finance Minister