Nirmala Sitharaman Presents Union Budget 2024
Key Highlights of the Budget Speech
Union Finance Minister Nirmala Sitharaman presented the Interim Budget for the fiscal year 2024-25 in the Parliament today. In her speech, she outlined the government's economic vision and priorities, highlighting key areas of investment.
Economic Outlook and Growth Projections
Minister Sitharaman acknowledged the challenges posed by the global economic slowdown but expressed confidence in India's resilience. She projected a GDP growth rate of 6.5% for the coming fiscal year, driven by strong domestic demand and government spending.
The Budget also announced measures to promote job creation, stimulate investment, and address inflation. These initiatives included tax breaks for businesses, infrastructure development, and social welfare programs.
Social Welfare and Infrastructure
The Budget placed significant emphasis on social welfare and infrastructure spending. The government allocated funds to enhance healthcare, education, and housing for the underprivileged. It also announced major investments in transportation, energy, and water projects to improve connectivity and quality of life.
Fiscal Deficit and Debt Management
The Budget projected a fiscal deficit of 4.5% of GDP for 2024-25, slightly higher than the previous year's target. The government outlined a roadmap for fiscal consolidation in the medium term, emphasizing fiscal prudence and debt sustainability.
Conclusion
Union Finance Minister Nirmala Sitharaman's Union Budget 2024 sets a clear roadmap for India's economic growth and social welfare. With its focus on job creation, infrastructure development, and social inclusivity, the Budget aims to strengthen India's position as a leading global economy while ensuring the well-being of its citizens.
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