Confederation of Indian Industry’s Post

Union Budget 2024-2025 Decoded: A Roadmap for Viksit Bharat 🇮🇳💼 The 2024-2025 Union Budget focuses on four key pillars: Women, Poor, Youth, and Farmers, aiming to pave the way for a developed India (Viksit Bharat). Here are the highlights and their potential impact: 1. Agriculture & Rural Development 🌾 - Emphasis on natural farming, digital infrastructure, and shrimp production - Potential to boost rural income and food security 2. Employment & Skilling 👨🏭👩🏭 - New schemes to incentivize job creation and support first-time employees - Could lead to increased workforce participation, especially for women 3. Infrastructure & Energy 🏗️⚡ - ₹11.11 lakh crore allocated for infrastructure (3.4% of GDP) - Focus on renewable energy and nuclear power - May stimulate economic growth and create job opportunities 4. Manufacturing & MSMEs 🏭 - Credit support and enhanced loan limits for MSMEs - Potential to boost domestic manufacturing and entrepreneurship 5. Urban Development 🏙️ - New housing schemes and focus on water management - Could improve living conditions in cities and create urban employment 6. Tax Reforms 💰 - Simplified tax regime and increased standard deduction for salaried employees - May lead to higher disposable income for the middle class 7. Innovation & Research 🔬 - Establishment of Anusandhan National Research Fund - Could drive technological advancements and economic competitiveness The budget aims to maintain robust economic growth (8.2% in FY 2024) while addressing fiscal deficit and inflation concerns. Its focus on infrastructure, employment, and social welfare schemes may have a positive impact on the Indian economy and the middle class in the coming years. #UnionBudget2024 #IndianEconomy #ViksitBharat #EconomicGrowth #Infrastructure #Employment #Innovation

🌟Union Budget 2024-2025: Paving the Way for a Brighter Future🌟 The Union Budget 2024-2025 brings forth transformative initiatives and strategic reforms that will drive India towards a prosperous and resilient future. Here's a snapshot of the key highlights: 🌾 **Agriculture & Cooperatives**: - Comprehensive agricultural research review for enhanced productivity. - New National Cooperation Policy for cooperative sector growth. - Atmanirbharta Initiative to support oilseed cultivation. - Boosting Farmer Producer Organizations (FPOs), cooperatives, and startups for efficient vegetable supply chains. - Introduction of 109 high-yielding, climate-resilient crop varieties. 👨💼 **Employment & Skilling**: - PM's Employment Package: Up to ₹15,000 wage support in 3 installments for new entrants. - Schemes to support first-time employees and job creation in manufacturing. - Assistance for employers hiring new staff, impacting millions of youth. 🏭 **Manufacturing & MSMEs**: - Enhanced Credit Guarantee Scheme and increased Mudra loan limits. - New assessment model for MSME credit support. - Twelve new industrial parks under the National Industrial Corridor Development Programme. 🏙️ **Urban Development**: - PM Awas Yojana Urban 2.0: ₹10 lakh crore investment to support urban poor and middle-class families. - Improved rental housing policies for transparency and efficiency. ⚡ **Energy & Infrastructure**: - Development of Bharat Small Reactors and R&D for Small Modular Reactors. - Financial support for cleaner energy transitions and comprehensive energy audits. - New policies for pumped storage and AUSC Thermal Power Plants. - Free electricity for 1 crore households up to 300 units per month. 🗺️ **Land Reforms**: - Introduction of Bhu-Aadhaar for unique land parcel identification and digitized land records with GIS mapping. 💵 **Taxation**: - No changes in personal income tax rates for the old regime. - Revised income tax slabs for the new regime, with reduced TDS on e-commerce players. 🚀 **Startup Ecosystem**: - Abolition of the angel tax to enhance fundraising and attract more capital, fostering a vibrant startup environment. This budget is a testament to our commitment to sustainable growth, innovation, and inclusive development. Let's embrace these changes and work together to build a stronger and more prosperous India! 🇮🇳 #UnionBudget2024 #EconomicGrowth #IndiaRising #Agriculture #Employment #Manufacturing #UrbanDevelopment #Energy #LandReforms #Taxation #Startups #Innovation #Sustainability

🚀 Union Budget 2024-2025 Highlights 🚀 The Government of India has unveiled a comprehensive roadmap for a 'Viksit Bharat', focusing on key sectors to drive growth and development. Here's a quick summary: 1. Agriculture & Farmers 🌾   - 109 new high-yielding crop varieties.   - Financing for shrimp farming through NABARD.   - Digital Public Infrastructure for farmers. 2. Employment & Skilling 💼   - New incentives for first-time employees and employers.   - Skilling programs for 20 lakh youth over 5 years.   - ₹7.5 lakh loans with government guarantees for students. 3. Inclusive Development 🌍   - ₹3 lakh crore allocated for women and girls' schemes.   - Improved socio-economic conditions for tribal communities. 4. Infrastructure & Urban Development 🏗️   - ₹11,11,111 crore for infrastructure (3.4% of GDP).   - New schemes for urban development, including rental housing and transit-oriented development. 5. Energy & Sustainability 🌱   - Focus on renewable energy and nuclear power.   - Financial support for cleaner energy in micro and small industries. 6. Tax Reforms 📊   - Simplified tax regime with increased exemptions and deductions.   - Custom duty reductions to boost various sectors. These initiatives are aimed at fostering a resilient and inclusive economy, ensuring sustainable growth and prosperity for all. #unionbudget #india #budget2024 Content Courtesy: Ruhan Saldanha, Kaizen Partners

Union Budget 2024-25: Key Highlights for India's Growth The Union Budget 2024-25 focuses on creating a strong foundation for inclusive growth and economic resilience. Here's a quick overview: 1. Agriculture & Rural Development: ₹1.52 lakh crore has been allocated to agriculture, promoting natural farming and climate-resilient crops. Another ₹2.66 lakh crore is dedicated to rural development, including connectivity projects under the Pradhan Mantri Gram Sadak Yojana. 2. Infrastructure: A significant ₹11.11 lakh crore has been earmarked for infrastructure development, focusing on projects like the Patna-Purnea expressway and flood mitigation. 3. Energy & Environment: Investments are being made in nuclear energy and advanced thermal power technologies, along with green initiatives such as natural farming. 4. Social Welfare & Health: Extension of the Pradhan Mantri Garib Kalyan Anna Yojana for five years benefits 80 crore people, and healthcare allocations include ₹38,183 crore for the National Health Mission. 5. Taxation & Fiscal Policies: The budget simplifies customs duties across sectors, including electronics, renewable energy, and telecommunications. 6. Education, Employment, & Skilling: ₹1.48 lakh crore is allocated for initiatives aimed at boosting youth employment and skills development, including Employment Linked Incentive programs. 7. Innovation & R&D: A ₹1 lakh crore financing pool is set to boost private-sector research in key areas such as space and nuclear technology. This budget lays out a clear strategy to foster growth, strengthen infrastructure, and ensure economic inclusion, setting India on a path toward becoming a global economic powerhouse. #snsinstitutions #snsdesignthinkers #designthinking

🚀 Union Budget 2024: A Step Towards Transformative Growth 🚀 Finance Minister Nirmala Sitharaman’s Union Budget 2024 aims to set India on a path to becoming a developed nation by 2047. Here are the key highlights: 🌟 Employment and Skilling: A substantial Rs 2 lakh crore allocated for upskilling and employment initiatives targeting 4.1 crore youth. 🌾 Agriculture and Rural Development: Rs 1.52 lakh crore to support natural farming and rural housing. A boost for our farmers! 🛤️ Infrastructure Development: Capital expenditure increased to Rs 11.11 lakh crore, focusing on rail and road projects. 📉 Fiscal and Economic Measures: Fiscal deficit target set at 5.1% of GDP for FY25, with a long-term goal of 4.5% by FY26. Stability in tax rates continues. 👩👩👧👦 Women’s Empowerment: “Lakhpati Didi” scheme expanded to empower 3 crore women, promoting financial support and socio-economic development. 🔬 Innovation and R&D: Enhanced investments to drive sustainable growth and global competitiveness. While the budget presents a visionary roadmap, its success will depend on effective implementation and timely execution. The focus on inclusive growth is encouraging, but the real impact will be seen in how well these initiatives translate into on-ground results. This budget sets a promising stage for India’s growth, with a strong emphasis on skilling, infrastructure, and rural development. Let’s stay optimistic yet watchful on the journey ahead! #UnionBudget2024 #IndiaGrowth #EconomicDevelopment #SkillingIndia #Infrastructure #WomensEmpowerment #Innovation #FiscalResponsibility

THE UNION BUDGET FOR THE FISCAL YEAR 2024 1.      Visionary Development : Union Budget 2024 outlines a bold vision for India's transformation into a 'Viksit Bharat' by 2047, emphasizing physical, digital, and social infrastructure. 2.      Financial Inclusion Triumphs : Finance Minister Nirmala Sitharaman highlights the impact of Direct Benefit Transfer, saving  Rs2.7 lakh crore, and extends credit assistance to 78 lakh street vendors, uplifting 25 crore people from multidimensional poverty. 3.      Empowerment Across Sectors : Skill India Mission trains 1.4 crore youth, PM Mudra Yojana grants 43 crore loans, and PM-KISAN supports 11.8 crore farmers, showcasing the government's commitment to inclusive growth. 4.      Women's Economic Empowerment : The budget celebrates the empowerment of women with 30 crore Mudra Yojana loans and a 28% increase in female enrollment in higher education over a decade. 5.      Green Initiatives : A commitment to environmental sustainability takes center stage with a pledge to achieve 'Net Zero' by 2070, focusing on wind energy, CNG blending, and a revolutionary Rooftop Solarization initiative. 6.      Infrastructure Overhaul : Major railway corridor programs, foreign investment promotion, and urban transformation initiatives like NaMoBharat and metro rail expansion are prioritized under PM Gati Shakti. 7.      Health and Well-being : The budget underlines health initiatives like cervical cancer vaccination, Saksham Anganwadi, Poshan 2.0, and the U-WIN platform, emphasizing the government's commitment to overall well-being. 8.      Housing for All and Tourism Development : Pradhan Mantri Awas Yojana progress, 'Housing for Middle Class' scheme, and development of iconic tourist centers aim to boost housing and tourism sectors. 9.      Taxation Reforms and Business Stability : The budget applauds the tripling of Direct Tax Collections, reduction in processing time, and positive sentiments about GST. Tax exemptions for start-ups and IFSC units provide stability for businesses. 10.  Inclusive Economic Policies : Tax liability immunity extension for taxpayers with income up to  Rs7 lakh aligns with the government's commitment to inclusive economic policies, fostering a self-reliant and developed India.  #ViksitBharat #EconomicResurgence #FinancialInclusion #Empowerment #GreenIndia #InfrastructureRevolution #HealthForAll #HousingForAll #TaxReforms #InclusiveGrowth

Key Highlights from India's Union Budget 2024-25 India's Union Budget 2024-25, presented by Finance Minister Nirmala Sitharaman, brings key changes: - **Income Tax Relief:** The exemption limit now stands at ₹7 lakh, providing significant relief to taxpayers. - **Support for MSMEs and Startups:** Enhanced lending opportunities and the removal of the angel tax will spur growth in these sectors. - **Agricultural Initiatives:** Continuing support for farmers through schemes like PM-KISAN SAMMAN and PM Fasal Bima Yojana. - **Infrastructure Development:** Substantial investments in urban development, including shopping infrastructure and facilities for working women. - **Employment Incentives:** The Employment Linked Incentive scheme offers financial benefits to employers for hiring additional staff. This budget aims to drive economic growth, enhance social welfare, and develop infrastructure, paving the way for a transformative year ahead. #UnionBudget2024 #EconomicGrowth #TaxRelief #MSMEs #Startups #Agriculture #Infrastructure #India

An effective budget is essential for a prosperous economy for any country. India is the world's 5th largest economy by nominal GDP. The United States, China, Japan, and Germany hold the top four positions. India has experienced significant economic growth in recent years, driven by its large and diverse economy, a burgeoning middle class, and a robust services sector. In the third term of its rule the BJP government’s new budget blueprint was made public by Finance Minister Nirmala Sitharaman on 23 July. Describing the Union Budget 2024-2025, Sitharaman outlined a comprehensive strategy aimed at driving economic growth, enhancing social welfare, and fostering inclusive development. Read More: https://lnkd.in/g82hByUc #Budget #Economy #India #highlights #allocations #expenditure #InclusiveDevelopment #UnionBudget #StateBudget #MyCityLinks

Some key highlights of Union Budget 2024-25 🔸 Labour Reforms ▪️ Integration of e-shram portal with other portals to facilitate such one-stop solution. ▪️ Shram Suvidha and Samadhan portals will be revamped to enhance ease of compliance for industry and trade. 🔸 Land Related Reforms ▪️Unique Land Parcel Identification Number (ULPIN) or Bhu-Aadhaar for all lands. ▪️Land records in urban areas to be digitized with GIS mapping. 🔸 Manufacturing & Services ▪️New mechanism to facilitate continuation of bank credit to MSMEs during their stress period. ▪️The limit of Mudra loans will be enhanced to ₹ 20 lakh from the current ₹ 10 lakh for those entrepreneurs who have availed and successfully repaid previous loans under the ‘Tarun’ category. 🔸NPS for Minors ▪️NPS-Vatsalya as a plan for contribution by parents and guardians for minors. 🔸Pradhan Mantri Janjatiya Unnat Gram Abhiyan ▪️Socio-economic development of tribal families in tribal-majority villages and aspirational districts, covering 63,000 villages benefitting 5 crore tribal people. 🔸Productivity and resilience in Agriculture ▪️Allocation of 1.52 lakh crore for agriculture and allied sectors. ▪️New 109 high-yielding and climate-resilient varieties of 32 field and horticulture crops to be released for cultivation by farmers. ▪️1 crore farmers across the country to be initiated into natural farming, with certification and branding in next 2 years. ▪️Digital Public Infrastructure (DPI) for Agriculture to be implemented for coverage of farmers and their lands in 3 years. 🔸Promoting Investment and Employment ▪️Angel tax for all classes of investors abolished to bolster start-up eco-system,. ▪️Simpler tax regime for foreign shipping companies operating domestic cruises to promote cruise tourism in India. ▪️Safe harbour rates for foreign mining companies selling raw diamonds in the country. 🔸Tourism ▪️Comprehensive development of Vishnupad Temple Corridor, Mahabodhi Temple Corridor and Rajgir. 🔸Urban Development ▪️Under the PM AwasYojana Urban 2.0, housing needs of 1 crore urban poor and middle-class families will be addressed with an investment of ₹ 10 lakh crore.

📰 Union Budget 2024-25: Industry-Wise Highlights and Impacts The eagerly anticipated India Union Budget 2024-25 has brought several significant allocations and changes. Here are some key statistics and impacts for each sector: Agriculture ☑ Funding Increase: ₹2.5 lakh crore allocated for agricultural development. ↳ Impact: Enhanced productivity, increased farmer incomes, and more rural employment opportunities. Infrastructure ☑ Capital Expenditure: ₹11 lakh crore earmarked for roads, railways, and urban infrastructure. ↳ Impact: Job creation, economic growth, and improved connectivity with major projects like expressways and rail corridors. Healthcare ☑ Funding Boost: ₹1.2 lakh crore allocated for healthcare infrastructure and services. ↳ Impact: Better access to healthcare, improved healthcare quality, and more research funding. Tax Reforms ☑ Income Tax Adjustments: Revised slabs and increased capital gains exemption limit to ₹1.25 lakh. ↳ Impact: Higher disposable income for individuals, potentially boosting consumer spending and investment. MSMEs ☑ Support Initiatives: ₹10,000 crores for MSME development and technology upgrades. ↳ Impact: Enhanced efficiency, growth opportunities, and job creation. Green Initiatives ☑ Sustainability Focus: ₹15,000 crores for renewable energy projects and green technology. ↳ Impact: Growth in green tech sectors, attracting investments, and promoting sustainability. Tourism ☑ Allocation: ₹2,450 crores, a 44.7% increase from previous budgets. ↳ Impact: Better tourism infrastructure, job creation, and economic growth in tourism-dependent areas. Education ☑ Funding Increase: ₹1.5 lakh crore for education and skill development. ↳ Impact: Better educational infrastructure and outcomes, enhanced workforce readiness. Real Estate ☑ Incentives: Continued focus on affordable housing with tax benefits for homebuyers. ↳ Impact: Stimulus for real estate, increased housing supply, and affordability. 🔍 What do you think will have the most significant impact on your industry? Share your thoughts below! #Finance #UnionBudget #India #EconomicGrowth #Sustainability #Investments