Bold budget has big four standouts
#Budget' 2024 with ET
Budget Highlights: Your 2-minute guide
FM 's plan for Viksit Bharat: A look at key numbers
What's in Sitharaman's Budget for you?
The FM has presented a bold, future-ready budget, tackling difficult issues with innovative solutions. Key measures include addressing job creation and MSME support, withdrawing the angel tax and equalisation levy, improving the IBC regime, simplifying the IT Act and GST regimes, and emphasising on the pervasive use of technology.
Four broad themes
The interventions in education, employment and skilling, amounting to ₹1.48 lakh crore ($18 billion), aim to impact 41 million youth and prepare them for the future. Coupled with measures for the MSME sector, these initiatives are crucial for India to achieve a 25% share of GDP from manufacturing and realise the vision of Viksit Bharat. The scheme providing internships and work experience to 10 million youth at top companies in India is a welcome move. This will help not only with employment generation but also towards the $2 trillion exports of goods and services by 2030. The continued spend on capex at 3.4% of GDP, with an allocation of ₹11.1 lakh crore (~$134billion) for the remainder of the year, will be critical for enhancing quality of life, increasing competitiveness, and driving inclusive development. The scheme to add 10 million household solar rooftops has the potential to generate 17 lakh jobs and 30 GW solar capacity.
Just tuning in? These are the biggest announcements from Sitharaman this morning
New income
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