Union Budget 2024: Understand Who Will Benefit After The Change In Income Tax? Nirmala Sitharaman | ABP News

Finance Minister Nirmala Sitharaman presented the Union Budget for FY 2024-25 in the Lok Sabha, marking the first budget of Modi's third term. Key announcements focus on youth employment, including a scheme where the government will contribute ₹15,000 to the PF accounts of first-time workforce entrants. Key highlights include:

1. ₹2 lakh crore allocated for five schemes benefiting over 5 crore youth.
2. ₹1.52 lakh crore for agriculture and digital infrastructure, benefiting 6 crore farmers.
3. Eastern states, including Bihar, will see significant infrastructure development with ₹26,000 crore allocated for roads and industrial hubs.
4. Incentives for manufacturing and formal sector employment, including direct benefits up to ₹15,000 for eligible workers.
5. Expansion of the Mudra loan limit to ₹20 lakh.
6. ₹2.66 lakh crore allocated for rural development and the establishment of 12 industrial parks.

Additionally, the budget includes provisions for farmer credit cards and significant financial commitments for Andhra Pradesh.