Page 16 - Seniorstoday Aug 2024 Issue
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Finance
The Budget 2024
Anil Harish breaks down the Union Budget for us
Every year we await the Budget with so industrial parks, cities as growth hubs,
much expectation. housing, land reforms and simplification
A Budget is an estimate of revenues and of the regulations relating to foreign direct
of expenditure. The Finance Minister first investments and overseas investments.
sets out all the projects for which money is All of these, however, are to be
to be allocated. Every year there are new implemented and are plans for the future.
projects announced. This year the Finance The Finance Minister stated that the net
Minister stated that the emphasis is on tax receipts are estimated at Rs 25.83 lakh
the poor, women, youth and farmers with crores. Other receipts would be Rs.6.24
particular focus on employment, skilling, lakh crores. The total expenditure would
MSMEs and the middle class. be Rs.48.21 lakh crores. The fiscal deficit of
The Finance Minister stated that the Rs 16.14 lakh crores is estimated at 4.9% of
Government will launch a comprehensive GDP.
scheme for providing internship She also stated that the Government will
opportunities in 500 top companies, to one continue efforts to simplify taxes, improve
crore youth, in five years and an internship taxpayers services, provide tax certainty
allowance of Rs 5,000/- per month along and reduce litigation while enhancing
with onetime expenses of Rs 6,000/- will revenues for funding development of
be provided. There are also references welfare schemes of the Government.
is to development of infrastructure, Even though she states that she is
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