Jul 09 , 2024

Union Budget 2024–2025: Key Highlights

By True Scoop

The Union Budget 2024–25 will be presented in the Lok Sabha on July 23 with approval from President Droupadi Murmu.

Starting on July 22 and ending on August 12, Finance Minister Nirmala Sitharaman will preside over the budget session.

The anticipated rise in the standard income tax deduction cap for salaried individuals from Rs 50,000 to Rs 1,00,000.

Under Income-Tax Act Section 24(b), home loan borrowers may benefit from new policies.

The Union Budget can pay attention to rural demand and women's well-being by providing subsidies.

The budget will prioritize expanding access to healthcare, particularly for women.

Potential rise in the interest from savings accounts exempt from income tax to Rs 25000 and to Rs 50000 for senior citizens.

The Union Budget may prioritize infrastructure development in defense, railways, and renewable energy.

The budget might decriminalize more than 100 legal provisions so as to facilitate business operations.

To improve state-to-state consistency in labor laws, a new labor and welfare index should be introduced.

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