Budget '24
Congress' Shashi Tharoor calls Nirmala Sitharaman's Budget 2024 'underwhelming'
New Delhi/IBNS: In an initial reaction from the main opposition party, Congress MP Shashi Tharoor called Union Finance Minister Nirmala Sitharaman's Budget 2024 "underwhelming".
Tharoor criticised the government for not taking up the "key issues" including MGNREGA.
The Thiruvananthapuram MP said, "I am afraid it's an underwhelming budget. The government simply didn't mention key issues. MGNREGA wasn't even mentioned. People have no reason to be happy."
I am afraid it's an underwhelming budget. The government simply didn't mention key issues. MGNREGA wasn't even mentioned.
— Congress (@INCIndia) July 23, 2024
People have no reason to be happy.
: @ShashiTharoor ji pic.twitter.com/yyQQMpIgSH
Key highlights of Budget 2024
Delivering the Union Budget 2024, Sitharaman announced Special Financial Support for Andhra Pradesh, where 15,000 crore have been directed with additional amounts in coming years.
Our government has made concerted efforts to fulfill the commitments in Andhra Pradesh Reorganization Act. Recognizing the state's need for a capital, we will facilitate special financial support through multi-lateral development agencies.
— PIB India (@PIB_India) July 23, 2024
In the current financial year,… pic.twitter.com/spsF0RTVZG
For Bihar, Sitharaman announced support for the development of an industrial node in Bihar's Gaya on the Amritsar-Kolkata industrial corridor.
The government will, as the Finance Minister said, support the several road connectivity projects, Patna Purnea Expressway; Buxar Bhagalpur Expressway; Bodh Gaya, Rajgir, Vaishali and Darbhanga spars.
An additional tooling bridge over River Ganga at Buxar at a total cost of 26,000 crore was announced.
#Budget2024 | FM Nirmala Sitharaman says, "On the Amritsar-Kolkata industrial corridor we will support the development of an industrial nod at Gaya in Bihar. It will catalyse the development of the easter region. We will also support the development of road connectivity projects-… pic.twitter.com/ifc7t81YJs
— ANI (@ANI) July 23, 2024
Sitharaman announced the Prime Minister's package of five schemes and initiatives.
The Modi government will launch a comprehensive scheme for providing internship opportunities for youths in top companies. This will be the 5th scheme under the Prime Minister’s package.
Sitharaman announced that the scheme will provide internship opportunities in 500 top companies to one crore youth in 5 years. They will gain exposure for 12 months to real-life business environments, varied professions and employment opportunities, she said.
I am happy to announce a new Centrally Sponsored Scheme, as the fourth scheme under the Prime Minister's package for skilling and collaboration with state governments and Industry
— PIB India (@PIB_India) July 23, 2024
➡️20 lakh youth will be skilled over a 5 year period
➡️1000 ITIs will be upgraded in Hub and… pic.twitter.com/rlz3lkJWeB
An internship allowance of Rs 5,000 per month along with a one-time assistance of Rs 6,000 will be provided to the youth. Companies will be expected to bear the training cost and 10 percent of the internship cost from their CSR funds, the Finance Minister added.
In new tax regime tax rate structure to be revised as follows: Income from Rs 0 to Rs 3 lakh tax is Nil, from Rs 3lakh to Rs 7 lakh tax at 5 pc, from Rs 7 lakh to Rs 10 lakh at 10 pc, from Rs 10 lakh to 12 lakh at 15 pc, Rs 12 lakh to Rs 15 lakh lakh at 20 pc and above Rs 15 lakh at 30 pc. A salaried person will now save upto Rs 17500 in IT annually as a result.
New Tax Regime
— PIB India (@PIB_India) July 23, 2024
In the new tax regime, the tax rate structure is proposed to be revised, as follows:
▪️ 0-3 lakh rupees - Nil
▪️ 3-7 lakh rupees - 5 percent
▪️ 7-10 lakh rupees - 10 percent
▪️ 10-12 lakh rupees - 15 percent
▪️12-15 lakh rupees - 20 percent
▪️ Above 15 lakh… pic.twitter.com/h14v3RThkn
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