The Budget gives a glimpse of being populous with a political orientation. It is a mix budget focusing on the welfare of the citizens and also promoting infrastructure through different schemes.

Budget 2024 Live: Revised tax rate under New Tax Regime as follows:

₹0-3 lakh - nil tax

₹3-7 lakh - 5%

₹7-10 lakh - 10%

₹10-12 lakh - 15%

₹12-15 lakh - 20%

Above ₹15 lakh - 30%"

Limit increased to Rs. 1,25,000 on LTCG, which was currently Rs. 1 lakh.

STT on Future & Options hiked to 0.02% and 0.1% respectively.

Standard Deduction increases from 50,000 to 75,000 under the New Tax Regime.

Limit of LTCG tax hiked from 10% to 12.5%. Limit of STCG tax hiked to 20%

TDS rate on e-commerce operators to be reduced to 0.1% from 1%.

Direct Tax: Comprehensive review of the Income Tax Act proposed.

BCD (basic customs duty) of mobile phones, mobile chargers reduced to 15 percent

The Government exempts customs duties on 25 critical minerals, and lowers BCD for two of them.

Projected Fiscal deficit is at 4.9% of GDP against 5.1% which was expected in the Interim Budget.

The Govt. establishes schemes to spur private-driven research at a commercial scale, supported by a financial pool of Rs 1 lakh crore.

The Government plans to generate employment opportunities for approximately 4.1 crore youth over the next five years. To support this initiative, Rs 2 lakh crore has been allocated.

Government bets big on spiritual tourism in the 2024 Budget providing importance to iconic Bihar temples.

Sum of Rs. 2.66 Lakh Crore has been earmarked for the development of rural areas, which includes the enhancement of Rural Infrastructure. This allocation is expected to significantly improve the living conditions and economic opportunities in rural regions across the country.

Increased focus and outlay for Agriculture reforms, employment generation, urban housing will boost the surplus and the Consumer Sector.

1 crore households to obtain free electricity up to 300 units per month.

FY25 allocation towards CAPEX set at ₹ 11.11 lakh crore. No change from the Interim Budget. This is 3.5% of the overall GDP.

1000 Cr. VC Fund to be set up to boost space economy.

FY25 allocation towards CAPEX set at ₹ 11.11 lakh crore. No change from the interim budget.

Flood Management – Rs. 11,500 Cr. allocated to Bihar for Flood Mitigation Scheme. Support will be given to Assam state as well.

Rural Infra: PM Surya Ghar Muft Bijli Scheme launched to install roof-top solar for 1 crore households.

Power projects including setting up of a new 2400 MW power plant at Pirpainti will be taken up at the cost of Rs 21,400 crores.

Urban Housing: Housing needs of 1 crore urban poor and middle-class families to be addressed with an investment of Rs 10 Lakh Crore

Transit oriented development programmes for 14 large cities with a population above 30 lakh will be formulated. This will boost the local economy in tier 2 and tier 3 cities.

Affordable Accomodation - Rental housing with dorm like accomodation for industrial workers will be facilitated in the PPP mode.

Youth - Internship in 500 top companies to be encouraged. Internship allowance of ₹ 5,000 and one-time assistance of ₹ 6,000 to be provided under the Internship Scheme.

Credit Guarantee Scheme for MSMEs in manufacturing to be introduced.

Budget to facilitate Rs. 15,000 crore for Andhra with additional amounts in the years to come.

Provision of Rs. 2.66 Lakh Cr for rural development

Mudra loans to be enhanced to Rs 20 lakh from Rs 10 lakh.

E-vouchers for loans up to Rs. 10 lakh for higher education in domestic institutions to be given directly to 1 lakh students every year for annual interest subvention of 3% of loan amount.

Model Skill Loan Scheme to be revised to facilitate loans up to ₹ 7.5 lakh with guarantee from government-promoted fund.

Nine priorities for this year and the coming years.

26000 crores to be allotted for roads in Bihar.

The Focus will be on 4 different castes, the Poor, Women, Youth and the Farmer.

Job creation in Manufacturing to provide incentives to employees and employer w.r.t. the EPFO Contribution.

20 lakh youths will be Skilled under the centrally sponsored scheme.

Scheme for First Timers - The Government will provide 1 month wage to all people newly entering workforce in all sectors.

This year, the Budget theme is based on 5 factors — Employment, skilling, MSMEs and the Middle Class

Provision of Rs. 1.52 lakh cr. for the Agri & Allied sector. A positive boost for the FMCG companies.

5 schemes for the Youth Skilling, including Employment for over 4.1 crore youths with allocation of over Rs. 2. Lakh Crore. A positive step towards skilling the youths with the latest skills.

The Government's external borrowing debt stood at 18.7% of GDP, maintaining debt stability while developed countries face mounting debt pressure.

The domestic real GDP grew by 8.2% in FY 2024, maintaining its status as the fastest-growing economy in the world.