New DelhiFinance Minister Nirmala Sitharaman in the Government of India presented the budget for the financial year 2024-25 on Tuesday. In this budget, India has also kept a good amount for its neighboring countries. Rs 200 crore has been allocated in this budget for the Taliban regime of Afghanistan. The same amount was allocated for Afghanistan in the financial year 2023-2024, but later it was increased to 220 crores. It is also being seen as an improvement in relations between India and Afghanistan in recent times. In this budget, Rs 2068 crore has been allocated for Bhutan, another important neighboring country of India.
In the budget, Rs 120 crore has been allocated for Bangladesh, Rs 700 crore for Nepal, Rs 245 crore for Sri Lanka, Rs 400 crore for Maldives, Rs 250 crore for Myanmar and Rs 200 crore for African countries. Rs 20 crore has been allocated for Eurasian countries, Rs 30 crore for Latin American countries, Rs 125 crore for other developing countries and Rs 370 crore for Mauritius. Apart from this, Rs 100 crore has been allocated for Chabahar Port.
These important announcements were made in the budget
Many important announcements have been made by the Narendra Modi-led government in this budget. Rs 2.66 lakh crore has been allocated for the development of rural areas. There is a budget of Rs 1.52 lakh crore for the agriculture sector. An important announcement has been made in this budget that the standard deduction for those choosing the new tax system has been increased from 50 thousand to 75 thousand. There will be no tax up to three lakh rupees in the new system. Sitharaman said that the Income Tax Act will be reviewed in six months. Income tax will be made easier and not paying TDS on time will not be considered a crime.
Nirmala Sitharaman announced at the beginning of the budget speech that Rs 1.48 lakh crore has been kept in the budget for education and employment. The budget will focus on employment, training, MSMEs and the middle class. Delivering the budget speech, Sitharaman said that India's economic growth continues to shine while the global economy is still in the grip of policy uncertainty. The country's inflation remains stable and is heading towards 4 percent, and core inflation is 3.1 percent.
