Union Budget 2024-25: Highlights and Expectations
Key Highlights
The Capital Expenditure Outlay for FY 2024-25 is being increased by 111 per cent to Rs 40000 crore. This expenditure will be used for infrastructure projects such as the conversion of normal rail bogies to the Vande Bharat standards.
Other key highlights of the budget include:
- An increase in income tax exemption limit for individuals
- A reduction in corporate tax rates
- Increased allocation for social welfare schemes
Expectations
Analysts expect that the union budget will be focused on boosting economic growth and job creation.
- Common budget state employees may expect higher dearness allowance and other benefits
- Private job holders may expect changes in income tax slabs and benefits
- Central government employees may expect increased pay scales and bonuses
Conclusion
The union budget is a crucial document that outlines the government's economic policies and priorities. The 2024-25 budget is expected to have a significant impact on the lives of Indian citizens. By understanding the key highlights and expectations of the budget, individuals can make informed decisions and plan for the future.
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