Key Interim Budget Announcements – 2024
➡️ New solar power schemes launched by PM Modi recently would lead to saving of INR15,000-18,000 per households annually who install roof top solar panels. 1cr households will be enabled to get 300units per month fully free.
➡️ PM Awas Yojana Grameen: Close to achieving target of 3 cr homes; 2 cr more homes planned due to growing need.
➡️ Ayushmaan Bharat to cover all worker under ASHA and Anganwadi scheme.
➡️ Government to launch a scheme to help deserving sections of the middle class living in rented houses or slums or chawls and unathorised colonies to buy or build their own houses – Likely positive for Steel, Cement and Building material.
➡️ Corpus of 1 lakh crore to be established with 50 year interest free loans for sunrise domains.
➡️ Railway corridor-port connectivity under DFC – More than 2 corridors to be set up. Also, 3 more rail corridors for Energy, cement and mineral to be added, apart from DFC.
➡️ 40,000 rail bogies to be converted to Vande bharat standards.
➡️ The capex target of FY25 has been set at Rs 11.1 lakh crore, up by 11.1%. FY25 capex outlay at 3.4% of GDP.
➡️ Govt plans to set up more medical colleges by using existing hospital infrastructure and a committee for this will be set up to examine and make necessary recommendation.
➡️ Tourist centre developement – states to be encouraged to take up development of tourist centres- long term interest free loans to provided for states
➡️ More metro trains & namo bharat trains to be expanded to more cities.
➡️ Revised estimate of fiscal deficit is 5.8% of GDP. FY25 BUDGET-DEFICIT TARGET AT 5.1% OF GDP
