New Delhi| July,23: Nirmala Sitharaman presented first Union Budget of the Modi 3.0 government. In her seventh consecutive Union Budget for 2024-25, highlighted key priorities of the government. She listed nine priority areas for the government which are: productivity and resilience in agriculture, employment and skilling, inclusive human resource development and social justice, manufacturing and services, urban development, energy security, infrastructure, innovation, research and development and next-generation reforms
Highlights from Budget:
- Five schemes announced to focus on 4.1 crore youth over 5 years with outlay of ₹2 lakh crore
- Internship scheme for one crore youth in top companies over five years
- Employment-linked incentives, including one month’s wage support for first-time employees
- For MSMEs: Credit guarantee scheme and term loans for machinery purchase, technology support package for MSMEs
- SIDBI to open 24 new branches to serve MSME clusters
- Mudra loan limit increased from ₹10 lakh to ₹20 lakh
- Financial support for higher education loans up to ₹10 lakhs
- Provision for rural development at ₹2.66 lakh crore
- Special financial support of ₹15,000 crore for Andhra Pradesh
- New airports, medical facilities, and sports infrastructure for Bihar
- Inflation moving towards 4% target
- Over ₹3 lakh crore allocated for schemes benefiting women and girls.
Goods Becoming cheaper after the Union Budget:-
Here are the goods that became cheaper:
- Cancer medicines as customs duties on three cancer medicines have been exempted
- Basic customs duty (BCD) on mobile phones, PCBAs and mobile chargers reduced to 15%
- Customs duty on gold and silver reduced to 6% and on platinum to 6.5%
- BCD on fish feed and shrimp reduced to 5%
- Customs duties exempted on 25 critical minerals
Andhra Pradesh Share In The Budget:
Below is all that what Andhra Pradesh is getting from the Budget:-
- Financial support of ₹15,000 crores will be arranged in FY 24-25
- Completion of Polavaram Irrigation Project
- Essential infrastructure such as water, power, railways and roads in Kopparthy node on the Vishakhapatnam-Chennai Industrial Corridor and Orvakal node on Hyderabad-Bengaluru Industrial Corridor
