2024-07-26 06:03:12
Jaipur: The Narendra Modi government at the Center has presented the budget for the year 2024-25. Finance Minister Nirmala Sitharaman has created history by presenting the budget for the seventh time in a row. There is no major announcement for Rajasthan in this budget, but it is being described as visionary. The budget emphasizes on agriculture, employment, women, youth and the poor. There has been no separate announcement for Rajasthan, but many announcements made in the budget will also affect the people of the state. Finance Minister Nirmala Sitharaman presented the Union Budget for the financial year 2024-25 in Parliament on Wednesday. This is the seventh consecutive time that Nirmala Sitharaman has presented the country’s budget. With this, she has set a new record. Earlier, former Prime Minister Morarji Desai had presented the budget six times in a row while being the Finance Minister.
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The Finance Minister has not made many big announcements in this year’s budget. The common people had a lot of expectations from the third term of the Modi government. It was expected that the government would make a big announcement regarding basic amenities, but this did not happen. However, the government has described this budget as visionary. The Finance Minister said in the budget speech that there are 9 priorities in this budget. Apart from agriculture, employment, social welfare, urban development, energy security, special attention has been given to the poor, women, farmers and youth.
No separate announcement has been made for Rajasthan in this budget. But there are some announcements made in the budget which will directly benefit the people of the state.
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10 big things of the Union Budget that will affect the people of Rajasthan
1. The poor will get free ration for 5 more years
The central government has extended the Pradhan Mantri Garib Kalyan Yojana for 5 years. Under this, free ration is given to the poor. This scheme will now run till 2029. More than 80 crore people will get the benefit of this scheme. A large population in Rajasthan also gets the benefit of this scheme.
2. Rs 1.5 lakh crore package for agriculture sector
The government has announced a package of Rs 1.5 lakh crore to increase productivity and efficiency in the agriculture sector. The Finance Minister said that the government will introduce 9 high-yielding varieties of crops. In the next two years, one crore farmers across the country will be encouraged to adopt natural farming. This will also benefit the farmers of Rajasthan.
3. 4.1 crore youth will get employment
The government claims that 4.1 crore youth will get employment in the next 5 years. Rs 2 lakh crore has been allocated for this. Skill development of youth will also be done. A total provision of Rs 1.48 lakh crore has been made for education, employment and skill development for the financial year 2024-25.
4. Three new employment related schemes will be started
The government has announced to launch three employment related schemes. Under these schemes, the government will provide e-vouchers directly to one lakh students every year, in which three percent interest subsidy of the loan amount will be given. 30 lakh youth entering the job market will be encouraged by giving one month’s PF contribution.
5. Loan Guarantee Scheme for MSME Sector
The Finance Minister has announced a loan guarantee scheme for the MSME sector. Under this, there will be no need for guarantee for loans up to Rs 100 crore. The loan needs of the crisis-hit MSME will be met through a government-backed fund.
6. Allocation of more than Rs 3 lakh crore for women and girls
More than Rs 3 lakh crore has been allocated in the budget for schemes benefiting women and girls. To promote women’s participation in the workforce, the government will set up hostels for working women.
7. Changes in income tax slabs
Income tax slabs have been changed under the new tax regime.
- Now income up to Rs 3 lakh will be tax free.
- 5% tax will be levied on income ranging from Rs 3 lakh to Rs 7 lakh.
- 10% tax from Rs 7 lakh to Rs 10 lakh,
- 15% tax from Rs 10 lakh to Rs 12 lakh,
- 20% tax from Rs 12 lakh to Rs 15 lakh,
- There will be 30% tax on income above Rs 15 lakh.
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8. Standard deduction limit increased
The standard deduction limit has been increased to Rs 25,000 under the new tax regime. After this, now the scope of standard deduction or 80C under the new tax regime has increased to Rs 75,000.
9. Custom duty cut on cancer drugs and mobile phones
There has been a big reduction in custom duty on cancer medicines and mobile phones. Apart from this, imported gold, silver, leather goods and seafood will also become cheaper.
10. What will be the impact of the budget on Rajasthan?
These announcements made in the Central Government’s Budget 2024-25 will affect the people of all the states of the country including Rajasthan.