Budget at a Glance: From tax to capex, here's your 2-minute guide to become a Budget Pro

India's Finance Minister Nirmala Sitharaman today presented the Interim Budget for the next fiscal year that starts April 1, 2024. At par with widespread expectations that New Delhi will stick to fiscal prudence rather than go for big-bang announcements, New Delhi left all tax slabs unchanged and didn't commit to so-called revdis while the Modi government seeks to come back to power for a third term following the Lok Sabha elections in April-May.

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Key Numbers from Interim Budget 2024

• Fiscal deficit target for FY25 set at 5.1%, FY24 aim revised to 5.8% from 5.9%
• Capex outlay of Rs 11.11 lakh crore
• Tax receipts for 2024-25 projected at Rs 26.02 lakh crore
• Divestment target of Rs 50,000 crore for FY25
• Railways to get Rs 2.55 lakh crore, up from previous year's high of Rs 2.4 lakh crore.
• Gross market borrowing target for FY25 pegged at Rs 14.13 lakh crore
• Nominal GDP growth seen at 10.5%
• PLI scheme gets Rs 6,200 crore
• Health sector to get Rs 90,170 crore, 13.8% higher than RE of Rs 79,220 crore for 2023/24
• Education budget for 2024/25 seen at Rs 1.25 lakh crore

Budget At Glance: Decoding the complex terms and numbers for you

Income Tax Slabs - What you've been waiting for
No income tax slab benefits for you
Direct and indirect tax including import tax rates left unchanged
All outstanding disputed direct tax demand up to Rs 25,000 withdrawn


Housing Scheme - Pride of your own home
Middle class to get a new housing scheme
Govt to build 2 crore houses under PM Aavas Yojana
10 million houses to get free electricity via rooftop solar programme

Capex Target - That's crucial for India's growth
Capex target raised by 11.1% to Rs 11.11 lakh crore
On-year jump in capex target down from 37% spike in last Budget, as government restricted public spending

Also Read: What Sitharaman's bahi khata had for Modi govt's four focus areas

Tax Targets - Govt needs to earn for our development
Total revenue receipts for FY25 estimated at 30 lakh crore
rupees, up from revised estimate of 26.99 lakh crore rupees in FY24

Also Read: Capex, fiscal deficit & more; here's a look at all the key numbers you need to know


Tourism - Plan a trip to Lakshwadeep
Interest-free loans to states to promote tourism
Funds will be provided for development of tourism in Lakshwadweep

Defence - Securing our borders
Defence budget up by 4% to Rs 6.2 lakh crore from Rs 5.94 lakh crore

Healthcare - Because health is wealth
Healthcare facilities under Ayushman Bharat will be extended to all Aasha workers, Aanganwadi workers
Government plans to set up hospitals in all districts
Vaccination of 9-14 year old girls for cervical cancer

Aviation Plan - More Indians want to fly
517 new routes to be launched under Udan Scheme


Also Read: Key takeaways from Modi 2.0's last finance bill

Allocation for schemes - Some welfare work
Government has hiked allocations for at least five major schemes for FY25
MNREGA - Allocation hiked by 43.3% to Rs 86,000 crore
Ayushman Bharat-PMJAY - Allocation up 4.2% to Rs 7,500 crore
PLI Schemes - Allocation hiked by 33.5% to Rs 6,200 crore
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Divestment plan - More state companies to be privatised?
Government cut divestment target for this fiscal year to Rs 30,000
Target for FY25 has been set at Rs 50,000 crore
No new announcement of privatisation of state companies