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FM Placed Budget: New Tex Regime, Gold-Silver Become Cheaper. Here The Budget Highlight

  • By Thetripurapost Desk, New Delhi
  • Jul 23, 2024
  • 246

Finance Minister Nirmala Sitharaman presented her seventh consecutive budget on Tuesday, July 23. Her 1 hour 23 minute speech brought some relief to the salaried class. 

For those who choose the new tax regime, income up to Rs 7.75 lakh has now become tax free. That is, they have benefited by Rs 17.5 thousand.

The Finance Minister announced a grant of Rs 58.9 thousand crores to Bihar and Rs 15 thousand crores to Andhra Pradesh. She also promised to bring a special scheme for infrastructure development for Bihar, Jharkhand, West Bengal, Odisha and Andhra Pradesh.

Highlight of the budget:

What became cheaper in the budget: Cancer medicine, gold-silver, platinum, mobile phones, mobile chargers, electrical wires, X-ray machines, solar sets, leather and seafood. Custom duty on mobiles and chargers decreased to 15%. Custom duty on gold and silver jewellery decreased to 6%.

For salaried: In the new tax regime, income up to Rs 7.75 lakh is tax free, benefit of Rs 17.5 thousand. Tax exemption on family pension increased from Rs 15 thousand to Rs 25 thousand.

For those in their first job: If their salary is less than Rs 1 lakh, those registering for the first time with EPFO ​​will get Rs 15,000 assistance in three 
instalments.

For education loan : Those who are not getting any benefit under government schemes will get loan for admission in institutions across the country. The government will give up to 3 percent of the loan amount. For this, e-vouchers will be introduced, which will be given to one lakh students every year.

For Bihar and Andhra Pradesh: Rs 58.9 thousand crores to Bihar and Rs 15 thousand crores to Andhra Pradesh. 

Special scheme for infrastructure development for Bihar, Jharkhand, West Bengal, Odisha and Andhra Pradesh. Vishnupad Temple Corridor and Mahabodhi Temple Corridor will be built in Bihar. Nalanda University will be made a tourist center.

For farmers: Information of 6 crore farmers will be brought on land registry. New Kisan Credit Cards will be issued in 5 states.

For youth: Mudra loan amount increased from Rs 10 lakh to Rs 20 lakh. Promise of internship to 1 crore youth in 500 top companies.

For women and girls: Provision of Rs 3 lakh crore for schemes benefiting women and girls.

For Solar: Under Suryaghar Free Electricity Scheme, 1 crore households will get free electricity up to 300 units every month