Finance Minister Nirmala Sitharaman presented the Union Budget for a record seventh consecutive time. The focus of the budget is on EMPLOYMENT, SKILLING, MSMEs, and the MIDDLE CLASS.
Major Highlights of the Union Budget 2024-25
- Purvodaya Plan for the all-round development of the eastern region of India.
- Financial support for loans upto`10 lakhs will be provided to the youth for higher education in domestic institutions.
- Pradhan Mantri Janjatiya Unnat Gram Abhiyan for the socio-economic development of Tribals.
- A new pension scheme named ‘Vatsalya’ has been proposed for minors.
- A new centrally sponsored scheme was proposed, with a total outlay of Rs. 60,000 crore, that aims at skilling 20 lakh youth over a 5-year period.
- Major changes in the Income Tax slabs and Standard deduction for salaried employees increased from ₹50,000 to ₹75,000.
- The government has also proposed to abolish the ‘angel tax’ for all classes of investors.
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