Budget 2024 in Numbers: 50-Year Interest-Free Loans Announced for Key Sectors
New Delhi: Finance Minister Nirmala Sitharaman presented the Interim Budget in Parliament on Thursday, marking her last budget speech before the upcoming Lok Sabha elections. Emphasizing the government's commitment to "GDP - Governance, Development, and Performance," Sitharaman unveiled key announcements, including a significant boost for the tourism sector in Lakshadweep amid tensions with the Maldives.
Sitharaman outlined the government's economic policies aimed at fostering sustainable growth, inclusive development, increased productivity, and expanded opportunities for all citizens.
Key Announcements in Budget 2024:
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Infrastructure Outlay: The allocation for infrastructure has been increased to ₹11.11 lakh crores in FY25.
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Tech-Savvy Youth: A golden era for the country's tech-savvy youth with the establishment of a ₹1 lakh crore corpus, providing a 50-year interest-free loan. This funding will support long-term financing or re-financing with low or nil interest rates.
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State Reforms Support: Recognizing the need for growth and development-enabling reforms in states, ₹75,000 crores is allocated as a 50-year interest-free loan. This financial support aims to facilitate milestone-linked reforms by state governments.
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Fiscal Deficit: The revised estimate for the fiscal deficit stands at 5.8% of GDP, showcasing improvement compared to the budget estimate despite a moderation in nominal growth estimates.
For comprehensive coverage of Budget 2024, stay tuned to HT. Explore the latest updates and insights on the budgetary developments.
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