Union Budget 2024-2025: Live Updates

Last Updated : Jan. 4, 2022, 6:11 p.m.

As we eagerly await the Union Budget 2024 in India, all eyes are on Finance Minister Nirmala Sitharaman to see her plans for the upcoming year. The budget is expected to cover several critical areas, and people are keenly watching for any updates on sectors such as healthcare, infrastructure, education, and agriculture. It will be interesting to see how the government tackles the challenges posed by the pandemic and revives the economy while keeping the fiscal deficit in check.

• Boosting infrastructure: Will the budget allocate funds for improving roads, bridges, and other crucial infrastructure projects? This could create jobs and make it easier to transport goods and people around the country.
• Investing in healthcare: Will there be measures to make healthcare more affordable and accessible for everyone? This is a major concern for many Indians.
• Education focus: Will the budget prioritize increased spending on schools and universities to educate the next generation?
• Tax changes: Will there be any adjustments to income tax rates or deductions? This could impact how much money people take home.

₹1 Lakh Crore Interest Free Loan

The government is setting up a special fund of ₹1 lakh crore just for you. This fund will provide loans with very low or even no interest at all, and you can repay them over a very long period of time (50 years!).

This means you’ll have access to affordable financing to help you start your own tech business, buy equipment, or pursue other tech-related goals. It’s essentially a massive investment in your future and the future of India’s tech industry.

Here are some key points to remember:

• ₹1 lakh crore fund: This is a huge amount of money that will be available for tech-related projects.
• 50-year loans: This gives you a lot of time to repay the loan, making it more manageable.
• Low/no interest: You won’t have to worry about high interest rates eating into your profits.
• Long-term financing/refinancing: This means you can use the money for both starting new projects and expanding existing ones.

For our tech-savvy youth, this will be a golden era. A corpus of Rs 1 lakh crore will be established with 50-year interest-free loan provided. It will be for long-term financing or re-financing with low or nil interest rates

Sitharaman

Conclusion

It is important to note that the Union Budget 2024 is an interim budget, covering only the first few months of the year. The full budget will be presented after the national elections, and we can expect more comprehensive policies and plans to be announced then. It will be interesting to see how the government plans to address the various challenges facing the country in the coming year.

In the much-anticipated Budget 2024 announcement, there’s a notable revelation for taxpayers: no proposed changes. The Finance Minister stated: “I do not propose to make any changes to taxation and proposed to retain the same tax rates for direct and indirect taxes, including import duties.” This decision maintains the status quo, offering stability and predictability for individuals and businesses as they navigate the fiscal landscape.

TOI