Union Budget 2024 Highlights: Key Takeaways and Impacts

by | Jul 26, 2024 | Business

Income Tax: No changes in tax rates for direct or indirect taxes, including import duties. Tax collections have doubled over the last decade, with an average tax return processing time reduced to 10 days.

Infrastructure Development: Capital expenditure outlay increased by 11.1% to ₹11.11 lakh crore, accounting for 3.4% of GDP. This is expected to continue driving economic growth and job creation.

Railways: 40,000 rail bogies to be converted to Vande Bharat coaches, enhancing passenger safety and comfort. Three major railway corridors announced to improve freight and passenger train operations.

‘Lakhpati Didi’ Scheme: Target enhanced from 2 crore to 3 crore women, with 83 lakh SHGs and 9 crore women already benefiting from this empowerment initiative.

Overall Focus: The budget aims to strengthen domestic macro factors, boost infrastructure, tourism, logistics, and innovation, and move towards fiscal prudence with a targeted fiscal deficit of 4.5% of GDP by FY26.

Economic Growth: The government continues its commitment to sustainable growth, with key sectors like agriculture, domestic tourism, and green energy receiving significant attention.

These measures reflect the government’s efforts to balance fiscal responsibility with bold initiatives, aiming for a developed India by 2047.

Follow YOUxTalks on Instagram: https://www.instagram.com/youxtalks/

You May Also Like

Why Sleep is Your Secret Weapon for Better Health

Why Sleep is Your Secret Weapon for Better Health

Sleep is not just a passive activity but a critical biological process that plays an essential role in maintaining health. From regulating metabolism to strengthening the immune system, sleep is a cornerstone of overall well-being. Sleep and Physical Health Chronic...

Business Ethics: Profits vs. Social Responsibility

Business Ethics: Profits vs. Social Responsibility

In today's world, businesses face a big question: Should they focus only on making money, or should they also care about the world around them? With climate change, social issues, and growing consumer awareness, the balance between profits and social responsibility...

Digital Marketing Trends to Watch in 2025

Digital Marketing Trends to Watch in 2025

As we step into 2025, the digital marketing landscape continues to evolve rapidly. With new technologies and changing consumer behaviors, businesses must stay ahead of the curve to remain competitive. Here are the key digital marketing trends that will shape the...

Mastering Your Mind: The Power of Self-Awareness

Mastering Your Mind: The Power of Self-Awareness

From birth, not only society but also our very body and DNA impose a script upon us—what to believe, how to behave, and who to become. This conditioning is mechanical, deeply embedded within our biology and environment. It shapes identities and limits perspectives. To...

JioHotstar: A New Streaming Experience in India

JioHotstar: A New Streaming Experience in India

On February 14, 2025, JioStar—a joint venture between Viacom18 and Star India—officially launched JioHotstar, merging the content libraries of JioCinema and Disney+ Hotstar into a single, comprehensive streaming platform. The merger, valued at $8.5 billion, was...

India Demolish England to Complete 3-0 Clean Sweep In ODIs

India Demolish England to Complete 3-0 Clean Sweep In ODIs

India showcased exceptional dominance against England, securing a 3-0 clean sweep in the One Day Internationals (ODIs). The series highlighted India's superior performance across all facets of the game, leaving England with significant areas to address. T20I Series:...