Finance Minister Nirmala Sitharaman stressed on rooftop solarisation and 'muft bijli' while presenting the Interim Budget 2024, right before the Lok Sabha elections.She said that as per PM Narendra Modi's resolve for solarisation on the day of Ram Temple consecration in Ayodhya, the Budget is introducing a new scheme for rooftop solarisation, under which one crore households would be able to use up to 300 units.
Here are the key takeaways from the Sitharaman's budget speech:
Sitharaman said there will be no change in the taxation scheme, both in direct and indirect brackets. Notably, there is no tax liability for individuals with income up to Rs 7 lakh under the new regime.
Revised estimate for fiscal deficit is 5.8 per cent of GDP. FY25 fiscal deficit budgeted at 5.1 per cent of GDP. The finance minister said the borrowing by the central government will facilitate credit to the private sector.
The government will be giving a major filip to the domestic tourism industry, including spiritual tourism, reflecting the recent Hindu renaissance.
The government is planning to set up more medical colleges by utilising existing hospital infrastructure. A committee will be set up to examine issues and make recommendations.
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. PM Awas Yojana aims to build two crore houses.