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Union Budget 2024: Five Things To Expect From FM Nirmala Sitharaman's Historic Budget Today
Union Finance Minister Nirmala Sitharaman will be presenting her 7th straight Budget at 11 am today. The Modi government has said that this budget will not only lay a roadmap for Viksit Bharat (developed India) by 2047. The government has continuously been facing taxpayers' ire for not granting much-needed tax reliefs. On the other hand, the middle class is hopeful of getting much-needed relief from inflation with food prices almost doubling in the last 10 years. Sitharaman, who would be presenting her seventh straight budget, had in her first Budget in 2019 replaced the leather briefcase -- which had been in use for decades for carrying Budget documents -- with a traditional 'bahi-khata' wrapped in red cloth. This year's Budget would be in paperless form, as done in the last three years. Here are five key things to expect from the first full Budget of Modi 3.0:
Ayushman Bharat
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The Narendra Modi-led NDA government is likely to extend the ambit of its popular healthcare scheme - the Ayushman Bharat scheme to cover all senior citizens and women. It will be interesting to watch if all women get covered by the scheme or if the Centre comes up with any age criteria.
PM-Awas Yojana
Finance Minister Nirmala Sitharaman is likely to extend the PM-Awas Yojana - for both urban and rural areas - by allotting more budget for the scheme. This is the Modi government's ambitious scheme aimed towards housing for all.
National Pension System
The government has been facing the ire of not only opposition but also of the central government employees for adopting the National Pension System instead of the old pension scheme. Though the government may not revert to the OPS, it's likely to bring some changes to the NPS contribution system to ensure a minimum guaranteed pension.
Tax Rebate
Around seven crore taxpayers have been expecting a relief from the government for long. The message has already reached the FM Sitharaman that the taxpayers are not happy with the current slabs. A hike in the standard deduction and a change in the tax slab is highly anticipated in this budget.
Free Electricity, PM Kisan Yoajan
The union government is likely to make budgetary allocations for its ambitious PM-Surya Ghar Muft Bijli Yojana meant to provide free electricity to poor households. The government may increase the PM Kisan Samman Nidhi Yojana amount from Rs 6,000 to Rs 8,000 or Rs 10,000.
More Sops On Cards
The Narendra Modi government will make provisions for extending the PM-Garib Kalyan Anna Yojana for the next five years. It is likely to allocate funds for the establishment of more IITs, IIMs and AIIMS. The FM is likely to announce the inclusion of auto, taxi, truck and other drivers in social security schemes.
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