Tax relief for the salaried middle class, job boost through a Rs 2 lakh crore central outlay, incentives for small industry and a generous allocation for housing, agriculture and rural roads are the hallmarks of Modi 3.0’s maiden Budget presented by Finance Minister Nirmala Sitharaman today.
The FM mentioned “poor, youth, farmers and women” — sections Prime Minister Narendra Modi has routinely flagged as the pillars of Viksit Bharat — as the core of the Budget which, she said, was themed on four focus areas of employment, skilling, MSMEs and the middle class. Describing India’s economic growth as the shining exception amid global uncertainties, the FM announced the Prime Minister’s package of schemes to facilitate employment, skilling and other opportunities for 4.1 crore youth over five years. The schemes will have a central outlay of Rs 2 lakh crore. The FM also announced Rs 1.48 lakh crore for education, employment and skilling.
- Employees’ standard deduction increased by 50% to Rs 75,000; tax slabs under new regime tweaked
- Bonanza for allies; Rs 60K-crore outlay for Bihar’s infra, flood measures; Rs 15K crore for new Andhra capital
- Rs 2L crore allocated for creation of 4.1 crore jobs, 1 crore youth to get internship in top 500 firms over five years
