Finance Minister Nirmala Sitharaman while presenting Interim Budget 2024 on 1 February 2024, kept the tax slab rates unchanged for both new and old income tax regimes.
In the 2024-25 Interim Budget, India's capital spending sees an 11% increase to ₹11.11 lakh crore, equivalent to 3.4% of the GDP. The highest allocation goes to the Defence Ministry, receiving ₹6.1 lakh crore.
Union Finance Minister Nirmala Sitharaman announced the government's intention to increase the Lakhpati Didi target from 2 crore to 3 crore.
The government plans to establish a corpus of ₹21 lakh crore through 50-year interest-free loans to support innovation. These interest-free loans aim to provide long-term financing with low or no interest rates for the private sector.
Finance Minister Nirmala Sitharaman announced a scheme where one crore households will have the opportunity to receive 300 units of free electricity monthly through rooftop solarisation.
To modernize the Indian Railways, the government has introduced an ambitious plan to upgrade 40,000 standard rail coaches to meet Vande Bharat standards.
As part of the PM Gati Shakti initiative, three major economic corridor programs have been identified to facilitate multi-modal connectivity. These include Energy, Mineral, and Cement Corridors, Port Connectivity Corridors, and High Traffic Density Corridors.
The government will promote cervical cancer vaccination for girls aged nine to 14, involving the administration of the Human Papilloma Virus (HPV) vaccine. Cervical cancer stands as the second most common cancer among women in India.
The upgrade of Anganwadi centers under 'Saksham Anganwadi' and Poshan 2.0 will be expedited to enhance nutrition delivery, early childhood care, and development.
The use of nano-liquid DAP (di-ammonium phosphate), a crucial fertilizer, will be extended to cover all agro-climatic zones. A strategy will be devised to achieve self-reliance ('atmanirbharta') in oilseeds, with a specific focus on mustard, groundnut, sesame, soybean, and sunflower.