What's in Budget 2024 for students, women and professionals
Finance minister Nirmala Sitharaman's 2024–25 budget was unveiled on Tuesday, and it included something for nearly everyone. It includes financial allotments for professionals, women, jobless people, and students. According to prime minister Narendra Modi, the Budget 2024 gives the poor, farmers, and members of the neo-middle class more influence. He said that the kids will have limitless chances.
This is a brief guide to see what's in it for you as a professional, homemaker, student, or young jobless person.
This is a brief guide to see what's in it for you as a professional, homemaker, student, or young jobless person.
LOANS UP TO RS 10 LAKH FOR STUDENTS
Financial support for loans up to Rs 10 lakh has been included in Budget 2024 to help students who have not benefited from any government programs.
The loan can be used to pay for domestic universities' postsecondary education.
According to the Budget, e-vouchers for this reason would be directly sent to one lakh students annually for an annual interest subvention of 3% of the loan amount.
The loan can be used to pay for domestic universities' postsecondary education.
According to the Budget, e-vouchers for this reason would be directly sent to one lakh students annually for an annual interest subvention of 3% of the loan amount.
SCHEMES AND HOSTELS FOR women AND GIRLS
One of Sitharaman's four main areas for Budget 2024 is women.
"As mentioned in the interim Budget, the government will focus on four major castes, namely ‘garib’ (poor), ‘mahilayen’ (women), ‘yuva’ (youth) and ‘annadata’ (farmer)," she stated.
The Budget has a more than Rs 3 lakh crore commitment for programs that assist women and girls in order to support women-led development.
In an effort to increase the number of women in the workforce, the government will establish working women's hostels, the finance minister announced during her budget statement.
"As mentioned in the interim Budget, the government will focus on four major castes, namely ‘garib’ (poor), ‘mahilayen’ (women), ‘yuva’ (youth) and ‘annadata’ (farmer)," she stated.
The Budget has a more than Rs 3 lakh crore commitment for programs that assist women and girls in order to support women-led development.
In an effort to increase the number of women in the workforce, the government will establish working women's hostels, the finance minister announced during her budget statement.
PAID INTERNSHIP FOR UNEMPLOYED YOUTH
The opposition parties in the most recent lok sabha election brought attention to unemployment as one of the main issues facing the Modi government. The shortage of talented individuals is the issue facing the sector.
For 4.1 crore young people during a five-year period, Budget 2024 offers a bundle of five programs and initiatives for employment, skill development, and other possibilities. A total of Rs 1.48 lakh crore has been set aside for employment, skill development, and education this year.
One of the programs is designed for those starting a new career. It will give everyone starting employment in any official industry one month's salary.
In addition, the government will introduce a comprehensive program that would offer 500 elite firms internship chances to one crore young people within five years.
For 4.1 crore young people during a five-year period, Budget 2024 offers a bundle of five programs and initiatives for employment, skill development, and other possibilities. A total of Rs 1.48 lakh crore has been set aside for employment, skill development, and education this year.
One of the programs is designed for those starting a new career. It will give everyone starting employment in any official industry one month's salary.
In addition, the government will introduce a comprehensive program that would offer 500 elite firms internship chances to one crore young people within five years.
TAX BENEFITS FOR SALARIED, EXTRA RS 17,500 IN HAND
Salaried persons can gain from the new tax structure that the government is driving citizens towards.
Payrollers are now able to deduct an extra 25,000 from their salaries in Budget 2024, bringing their total standard deduction to Rs 75,000.
The greater standard deduction limit will save taxpayers in the highest (30%) tax band, if their taxable income is Rs 15 lakh or more, Rs 7,500.
Rationalisation of income tax slabs has also occurred without a change in tax rates.
An additional Rs 10,000 will be saved as a result of the rationalisation of tax rates, making the total savings for this group Rs 17,500.
Four crore people will profit from the measure, according to the government.
Payrollers are now able to deduct an extra 25,000 from their salaries in Budget 2024, bringing their total standard deduction to Rs 75,000.
The greater standard deduction limit will save taxpayers in the highest (30%) tax band, if their taxable income is Rs 15 lakh or more, Rs 7,500.
Rationalisation of income tax slabs has also occurred without a change in tax rates.
An additional Rs 10,000 will be saved as a result of the rationalisation of tax rates, making the total savings for this group Rs 17,500.
Four crore people will profit from the measure, according to the government.