According to tradition, no major announcements or allocations were made in the interim budget. But, keeping the elections in mind, the government prepared a vision and roadmap. No changes were made on income tax in the interim budget. However, new avenues were opened for different sectors including railways. 3 new rail corridors will be built. 11 percent more will be spent on infrastructure. Defense expenditure has been increased by 11.1%. This will be 3.4% of GDP. The fiscal deficit is estimated to be 5.1%. The expenditure is Rs 44.90 crore and the estimated revenue is Rs 30 lakh crore.
How big an announcement is this?
Under the Rooftop Solarization Scheme, 300 units of free electricity will be provided every month. During 2014-23, $596 billion foreign direct investment (FDI) came. A new scheme will be started under Blue Economy 2.0. Electric vehicles will be promoted. Interest free loan of Rs 1 lakh crore will be given for 50 years. Will promote the infrastructure of Lakshadweep. 40 thousand ordinary railway coaches will be converted into Vande Bharat like coaches. Attention will be given to cervical cancer vaccination. Maternal and child care schemes will get a boost. Attention will be given to vaccination of girls aged 9-14 years.
Housing scheme will come for middle class
The government will bring a housing scheme for the middle class. 2 crore houses will be built in the next 5 years. 3 crore houses have been built under PM Awas. Matsya Sampada Yojana provided new employment to 55 lakh people. 5 integrated aquaparks will be established. About 1 crore women became Lakhpati Didi. Now the target is to make 3 crore Lakhpati Didi. 390 universities have been established. One market, one tax has been achieved through GST. A transformative initiative has been taken through the India-Middle East-Europe Economic Corridor.
Who got what?
A budget of Rs 6.2 lakh crore has been kept for defence. Help has been given to 78 lakh street vendors. 4 crore farmers are being given the benefit of PM Crop Insurance Scheme. 11.8 crore people have got financial help from PM Kisan Yojana. A budget of Rs 60 thousand crore to Rs 86 thousand crore has been made for MNREGA. 1.4 crore youth have been trained in Skill India Mission. 3000 new ITIs have been created.Poverty of 25 crore people has been removed. Under PM Mudra Yojana, 43 crore loans worth Rs 22.5 lakh crore have been approved. 30 crore Mudra Yojana loans were given to women entrepreneurs. Financial assistance was given to 11.8 crore farmers. ₹34 lakh crore has been sent to the accounts under the Garib Kalyan Yojana.
