Union Budget 2024-25 Highlights Download PDF
The Union Budget 2024-25 worth Rs. 48.21 lakh emphasizes inclusive growth with a focus on women, youth, and farmers. We have provided here the Union Budget 2024-25 PDF download link.
Priyanka Dahima3 Sept, 2024
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Union Budget 2024-25 : A budget forecasts a government's revenue and expenses for the upcoming financial year, covering the period from April 1 to March 31. The Union Budget details finances from the previous fiscal year, outlines new tax proposals, and estimates future revenue and expenditure. According to the Union Budget 2024–25, net tax collections are expected to be Rs. 25.83 lakh crore, with total expenditures of Rs. 48.21 lakh crore and receipts (excluding borrowings) of Rs. 2.07 lakh crore.
Union Budget 2024-25
A 4.9% GDP fiscal deficit is anticipated. The "Viksit Bharat" concept encompasses several significant projects, such as the establishment of twelve industrial parks, the provision of internships to one crore youngsters in prestigious enterprises, the promotion of rental housing with dormitory-style accommodations for industrial workers, and the establishment of Bharat Small Reactors for energy security. These initiatives seek to ensure renewable energy sources, improve housing, encourage young employment, and increase economic prospects.Union Budget 2024-25 Highlights
Here we have discussed the Union Budget 2024-25 Highlights ● Expenditure: The government plans to spend Rs. 47,65,768 crore in the Financial Year 2024-25, a 6% increase from the revised estimate for 2023-24. Interest payments will account for 25% of this expenditure and 40% of revenue receipts. ● Receipts: Receipts (excluding borrowings) for 2024-25 are projected to be Rs. 30,80,274 crore, about 12% higher than the revised estimate for 2023-24. Tax revenue, which constitutes a major portion of the receipts, is also expected to rise by 12% over the previous year's estimate. ● GDP: The government anticipates a nominal GDP growth rate of 10.5% for 2024-25, reflecting real growth plus inflation. ● Deficits: The revenue deficit is targeted at 2% of GDP, down from the revised 2.8% in 2023-24. The fiscal deficit is projected at 5.1% of GDP, lower than the revised 5.8% in 2023-24. ● New Schemes: An allocation of Rs. 70,449 crore has been made to the Department of Economic Affairs for new schemes, which will cover capital expenditure and represents 7.5% of the total capital outlay.GA Capsule for IBPS RRB PO and Clerk Mains 2024, Download Free PDF
GA Capsule for IBPS RRB, PO और क्लर्क मेन्स 2024 GA कैप्सूल .मुफ्त PDF डाउनलोड करें
Union Budget 2024-25 Download PDF
The government plans to spend Rs. 47,65,768 crore in 2024-25, marking a 6% increase from the revised estimate for 2023-24. Under Article 112 of the Indian Constitution, the Union Budget, also known as the Annual Financial Statement, outlines the government's estimated receipts and expenditures. Here we have provided the Union Budget 2024-25 PDF download link.Union Budget 2024-25 PDF- Click to Download
Union Budget 2024-25 Tax Proposals
Simplification in Taxes:
- Comprehensive review of Income Tax Act 1961.
- Simplification of tax processes for charities and TDS.
Sector-Specific Customs Duty Proposals:
- Reduce Basic Customs Duty (BCD) to 15% on mobile phones, PCBA, and chargers.
- Reduce custom duty on gold and silver to 6% and platinum to 6.4%.
- Exempt custom duties on 25 critical minerals and more capital goods for manufacturing solar cells & panels.
- Reduce BCD on shrimp and fish feed to 5%.
Direct Tax Proposals:
- Short-term gains on financial assets to attract 20% tax rate.
- Long-term gains on all assets to attract 12.5% tax rate.
- Increase exemption limit on capital gains on financial assets to ₹1.25 lakh per year.
- Standard Deduction for salaried employees increased from ₹50,000 to ₹75,000.
- Deduction on family pension increased from ₹15,000 to ₹25,000.
Employment and Investment:
- Abolish ANGEL tax for all classes of investors.
- Simpler tax regime for domestic cruise operations.
- Safe harbour rates for foreign mining companies (selling raw diamonds).
- Reduce corporate tax rate on foreign companies from 40% to 35%.
Union Budget 2024-25 Highlights FAQs
Q1. Where can I get the Union Budget 2024-25 Highlights?
Ans. You can get the Union Budget 2024-25 Highlights at the PW blog.
Q2. What is the Outline of Union Budget 2024-25?
Ans. The Union Budget 2024-25 worth Rs. 48.21 lakh emphasizes inclusive growth with a focus on women, youth, and farmers. We have provided here the Union Budget 2024-25 PDF download link.
Q3. Where can I get the Union Budget 2024-25 PDF?
Ans. We have provided the Union Budget 2024-25 PDF download link in the PW article for you ease.
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