KV News

Highlights of Interim Budget 2024-25

Decrease Font Size Increase Font Size Text Size Print This Page

* No change in direct, indirect tax rates

* Withdraws income tax demands up to Rs 25,000 till 2009-10; Demands up to Rs 10,000 from 2010-11 to 2014-15 also withdrawn

* Move to benefit about a crore taxpayers

* A scheme to help middle class living in rented houses to buy or build their own houses

* Tax benefits to startups and investments made by sovereign wealth or pension funds extended by 1 year till March 31, 2025

* Capital expenditure hiked 11 pc to Rs 11.11 lakh cr

* Fiscal deficit for 2024-25 projected at 5.1 pc, lower than 5.8 pc this fiscal

* Govt to borrow Rs 14.13 lakh crore in next fiscal, lower than Rs 15.43 lakh crore in 2023-24

* Nominal GDP for next fiscal (2024-25) projected at 10.5 pc

* Mop-up from Central Public Sector Enterprises (CPSEs) disinvestment pegged at Rs 50,000 crore for next fiscal, up from Rs 30,000 crore in 2023-24

* Gross tax revenue target for 2024-25 hiked 11.46 pc to Rs 38.31 lakh crore, from Rs 34.37 lakh crore this fiscal

* Direct tax collection target set at Rs 21.99 lakh crore; indirect tax at Rs 16.22 lakh crore

* Next five years of unprecedented development to help realise goal of developed India by 2047

* Govt to come out with a white paper on mismanagement of economy prior to 2014

* Govt to take up next generation reforms in consultation with states, stakeholders

* Govt to form high-powered panel to address population growth challenges and demographic changes

* A Rs 1 lakh crore corpus to be established with 50 years interest free loan for youth

* Scheme of 50 years interest free loan to states for capital expenditure to be continued next year with an outlay of Rs 1.3 lakh crore.

KV News

Kashmir Vision cover all daily updates for the newspaper

Leave a Reply

Your email address will not be published. Required fields are marked *