Key takeaways from Nirmala Sitharaman's Budget 2024

Here are the key takeaways from Nirmala Sitharaman's Budget 2024:

• "The government is focused on more comprehensive GDP—governance, development, performance." Ms Sitharaman said.
• The government has brought 250 million people out of poverty in 10 years
• Crop insurance scheme benefits will reach 40 million farmers
• Inflation has moderated and economic growth has picked up
• Tax reforms have widened the tax base and increased tax collections, Ms Sitharaman said.
• The Finance Minister said that the next five years will see unprecedented economic growth in India.
• India's economy, the fastest growing among major nations, is going through profound change, Ms Sitharaman said to the thumping of desks in parliament.
• She said that the government aims to make the country 'Viksit' (developed) by 2047.
• "The next five years will be years of unprecedented development and golden moments to realize the dream of developed India by 2047," Ms Sitharaman said.
• Government will launch a new scheme to strengthen deep tech for defence purposes.
• Nirmala Sitharaman said that the government will help deserving sections of middle class to build their own houses.
• Nirmala Sitharaman said the government will build 20 million affordable houses in the next five years, to add to the 30 million houses built already.
• Success of self-help groups empowered 1 crore women to become "Lakhpati didis", government says while presenting Budget 2024.
• FY24 fiscal deficit seen lower than target at 5.8% of GDP; pegged at 5.1% in FY25 with aim to reduce it to 4.5% by FY26.
• No changes in taxation - both direct and indirect.
• Tax benefits for startups, investments made by sovereign wealth, pension funds to be extended to March 2025.
• The government will invest significantly in the tourism sector in the country, Finance Minister Nirmala Sitharaman said in her interim Budget 2024 speech.
• She said the island Union Territory of Lakshadweep will get undivided attention from the government to improve its tourist infrastructure.