Union Budget 2024 Key Highlights

Agriculture and Rural Development

Rs 1.52 lakh crore approved for agriculture and allied sectors. Rs 2.66 lakh crore allocated for rural development. Financing for shrimp farming through NABARD.

Infrastructure and Development 

Andhra Pradesh to get Rs 15,000 crore financial support. Urban housing outlay of Rs 10 lakh crore. PM Gram Sadak Yojana Phase IV launched for rural connectivity. Rs 1,000 crore boost for space economy.

Youth and Employment Schemes

Five schemes focusing on 4.1 crore youth over 5 years with a central outlay of Rs 2 lakh crore. One month of salary support for enterprises for first-time employees. Internship scheme in top companies for one crore youth over five years.

Energy and Innovation

Partnership with private sector for Bharat Small Reactors. JV between NTPC and BHEL for 800 MW commercial plant using AUSC technology. PM Surya Ghar Muft Bijli Yojana launched for rooftop solar installations.

Taxation 

Basic customs duty on mobile phones and chargers reduced to 15%. Custom duty on gold and silver reduced to 6%. STT on F&O hiked to 0.02% and 0.1%. TDS rate on e-commerce operators reduced to 0.1% from 1%. Limit of STCG tax hiked to 20%,  LTCG raised from 10% to 12.5%.

Income Tax

0-3 lakh - Nil,  3-7 lakh - 5%,  7-10 lakh - 10%,  10-12 lakh - 15%,  12-15 lakh - 20%. Above 15 lakh - 30%

Must-Know Terms Before the Finance Minister Presents the Budget