While the government tax revenues have seen a significant surge, but the government seems to spend judiciously while decreasing the budget deficit to 5.1 per cent in the next financial year, which is at 5.8 per cent for the current fiscal year ending in March.
Finance Minister Nirmala Sitharaman in her Budget 2024 speech. Outlined a comprehensive plan for the next five years, which includes increased housing opportunities, access to free electricity, and improved medical care, particularly for women.
While the government tax revenues have seen a significant surge, but the government seems to spend judiciously while decreasing the budget deficit to 5.1 per cent in the next financial year, which is at 5.8 per cent for the current fiscal year ending in March.
In the interim budget, which preceded a new administration, Sitharaman allocated Rs 11.1 lakh crore to capital spending, which is an 11.1 per cent increase from the previous year. Sitharaman assured support for including farmers, youth, women, and the unprivileged sectors over the next five years.
Here Are Key Announcements in Budget 2024 For Common Man
The Saksham Anganwadi and Poshan 2.0 programs will be accelerated to enhance nutrition delivery, early childhood care, and development.
Pradhan Mantri Awas Yojana (Grameen)
The ongoing Pradhan Mantri Awas Yojana (Grameen) is nearing its 3 crore houses target, with an additional goal of constructing 2 crore houses set for the next five years.
Housing for Middle Class Scheme
The government planning to launch the “Housing for Middle Class” scheme, which will incentivise middle-class individuals to either purchase or construct their own homes.