Budget Highlights 2024-2025

Vegetable Production & Supply Chain

Promotion of FPOs, cooperatives, and start-ups for vegetable supply chains for collection, storage, and marketing.

Release of New Varieties

109 new high-yielding and climate-resilient varieties of 32 field and horticulture crops will be released for cultivation by farmers.

National Cooperation Policy

For systematic, orderly, and all-round development of the cooperative sector.

Atmanirbharta in Oil Seeds

For oil seeds such as mustard, groundnut, sesame, soybean, and sunflower.

Transforming Agriculture Research

Comprehensive review of the agriculture research setup to bring focus on raising productivity and developing climate-resilient varieties.

Increased Participation of Women

Setting up working women hostels in collaboration with industry, and establishing creches.

Wage Benefits

One-month wage to new entrants in all formal sectors in 3 instalments up to ₹15,000, expected to benefit 210 lakh youth.

PM’s Package for Employment

• Scheme A: Linked to first-time employees with incentives for EPFO contributions, expected to benefit 30 lakh youth.
• Scheme B: Job creation in manufacturing.
• Scheme C: Support to employers with government reimbursement of EPFO contributions up to ₹3000 per month for 2 years for new hires, expected to generate 50 lakh jobs.
• Loans up to ₹7.5 lakh with a guarantee from a government-promoted fund, expected to help 25,000 students annually.

Skilling Programme

• 20 lakh youth to be skilled over a 5-year period.
• 1,000 Industrial Training Institutes to be upgraded in hub and spoke arrangements with outcome orientation.
• Course content and design aligned with industry skill needs.

Purvodaya: Vikas bhi Virasat bhi

Plan for economic opportunities in Eastern parts covering Bihar, Jharkhand, West Bengal, Odisha, and Andhra Pradesh.

Pradhan Mantri Janjatiya Unnat Gram Abhiyan

Improving socio-economic conditions of tribal communities covering 63,000 villages benefitting 5 crore tribal people.

Financial Support

• More than ₹3 lakh crore for schemes benefiting women and girls.
• ₹15,000 crores for Andhra Pradesh Reorganization Act in FY 24-25.
• Completion of Polavaram Irrigation Project.

National Industrial Corridor Development Programme

Twelve industrial parks under the program.

Internship Opportunities

Scheme for internships in 500 top companies for 1 crore youth in 5 years with an allowance of ₹5,000 per month and one-time assistance of ₹6,000.

Credit Support to MSMEs

• Enhanced scope for mandatory onboarding in TReDS.
• New assessment model for MSME credit.
• Mudra Loans limit enhanced to ₹20 lakh from ₹10 lakh under the 'Tarun' category.
• MSME units for food irradiation, quality, and safety testing.

Stamp Duty

Encouraging states to lower stamp duties for properties purchased by women.

Street Markets

Scheme to develop 100 weekly 'haats' or street food hubs in select cities.

Transit-Oriented Development

Plans for 14 large cities with a population above 30 lakh.

Water Management

Promote water supply, sewage treatment, and solid waste management projects for 100 large cities through bankable projects.

PM Awas Yojana Urban 2.0

Needs of 1 crore urban poor and middle-class families to be addressed with an investment of ₹10 lakh crore.

Bharat Small Reactors

Setting up Bharat Small Reactors and R and D of Bharat Small Modular Reactor for nuclear energy.

Energy Audit

Investment grade energy audit in 60 clusters, expanding to 100 clusters.

Pumped Storage Policy

Joint venture between NTPC and BHEL to set up a full-scale 800 MW commercial plant.

AUSC Thermal Power Plants

Support for micro and small industries to shift to cleaner forms of energy.

Financial Support

₹1.5 lakh crore to states as long-term interest-free loans to support resource allocation.

Provision for Infrastructure

₹11,11,111 crore provision for infrastructure.

Development Initiatives

65 priority public transport infrastructure projects; Rs. 2,500 crore for railways and Rs. 8,000 crore for roads.

The Annual Financial Statement (AFS) shows the estimated receipts and expenditure of the Government of India for 2024-25 along with estimates for 2023-24 and actuals for 2022-23. It includes the Consolidated Fund of India, the Contingency Fund of India, and the Public Account of India.

The Demands for Grants are presented to the Lok Sabha along with the Annual Financial Statement. In 2024-25, there are 102 Demands for Grants, each detailing the 'voted' and 'charged' expenditure, 'revenue' and 'capital' expenditure, and the grand total on a gross basis.

The Finance Bill details the imposition, abolition, remission, alteration, or regulation of taxes proposed in the Budget. It also contains other provisions relating to the Budget that could be classified as a Money Bill.

• Macro-Economic Framework Statement: Contains an assessment of the growth prospects of the economy along with underlying assumptions.
• Medium-Term Fiscal Policy cum Fiscal Policy Strategy Statement: Sets out three-year rolling targets for specific fiscal indicators in relation to GDP.

• Expenditure Budget: Shows the estimates made for a scheme/programme on a net basis on Revenue and Capital basis.
• Receipt Budget: Provides details of tax and non-tax revenue receipts and capital receipts and explains the estimates.
• Expenditure Profile: Aggregates various types of expenditure and certain other items across demands.
• Budget at a Glance: Provides a snapshot of the entire Budget, including receipts, expenditure, the fiscal deficit, the revenue deficit, and the primary deficit.
• Memorandum Explaining the Provisions in the Finance Bill: Contains explanations and justifications for the provisions included in the Finance Bill.
• Output Outcome Monitoring Framework: Provides the outcomes and outputs expected from the various schemes and projects funded by the Budget.
• Key Features of Budget 2024-25: Highlights the most important aspects of the Budget.