Key Union Budget Announcements - 2024

• UDGET TO FOCUS ON EMPLOYMENT, SKILLING, MSME:
• Poor Woman Youth & Farmer Are Focussed Areas Of This Govt
• India Budget Focus Includes Infra, Manufacturing
• To Make Sustained Efforts On 9 Prioities For Viksit Bharat
• Scheme To Create Jobs In Manufacturing
• Plans INR214B On New Power Plant In Eastern India
• To Arrange INR150B Financial Support For Andhra State
• India To Facilitate Industrial Parks At 100 Cities
• To Facilitate Rental Housing For Industrial Workers
• Shipping Industry Reforms Will Be Implemented
• Critical Mineral Mission To Include Overseas M&a
• To Set Up Tech Platform For Ibc Ecosystem
• Plans Integrated Tech Platform For Insolvency Process
• Will Set Up Critical Mineral Mission
• To Reform Debt Recovery Tribunals
• To Facilitate Devt Of Cities As Growth Hubs
• Announces Development Plan For 14 Large Cities
• Sanctioning 12 Industrial Parks Under National Corridor Plan
• States To Be Encouraged To Moderate Stamp Duty
• Announces Water Supply, Sanitation Plan For 100 Cities
• Plans Policy Document For Energy Transition Pathways
• Plans Policy For Pumped Storage Power Projects
• To Partner Pvt Sector For Small Nuclear Plants
• Plans 800mw Ultra Super Critical Thermal Power Plant
• Ntpc, Bhel To Set Up 800mw Thermal Plant
• To Maintain Strong Fiscal Support For Infra
• Fy25 Capex Spend Seen At Inr11.1 Trillion
• Infra Investment 3.4% Of Gdp
• Plans Viability Gap Funding For Pvt Investment In Infra
• To Launch Rural Roads Plan For More Villages
• Building On The Success Of Pm Swanidhi Scheme, A New Scheme For Development Of Street Food Hubs In Select Cities
• To Formulate Framework For Next Generation Reforms
• Announces Vc Fund Of 10b Rupees For Space Economy
• Plans Unique Land Parcel Identification Numbers
• Plans Five-year Financial Sector Strategy Document
• Sets Fy25 Budget-gap Target At 4.9% Of Gdp
• To Reach Fiscal Gap Of Below 4.5% By Next Year
• To Further Simplify Gst Tax Structure
• To Undertake Review Of Customs Duty Rate Structure
• Cuts Bcd On Mobile Phones, Chargers To 15%
• Not To Extend Exemption Of Customs Duty On Solar Glass
• To Lower Customs Duties On Gold
• To Lower Customs Duty On Gold To 6%
• Increases Bcd On Ammonium Nitrate To 10%
• Increased Bcd On Some Telecom Equipment To 15%
• To Continue To Simplify Taxes, Improve Services
• To Complete Income Tax Act Review In Six Months
• Two Tax Exemption Regimes For Charities To Be Merged
• Abolish Angel Tax
• Reduce Corporate Tax Rate On Foreign Cos To 35%
• Securities Transaction Tax For F&o To Be Increased
• Standard Decuction Raised In Tax New Regime