Union Budget 2024: The Indian government focuses on a roadmap for a ‘developed India‘ by 2047 while maintaining a fiscal deficit target of 5.1% for Financial Year 2025. Here’s what Budget 2024 has in store for the real estate, housing, and infrastructure markets.

As India strives to emerge as a developed country by 2047, the next Union Budget 2024 continues to focus on the infrastructure sector. This is the third budget presented by Finance Minister Nirmala Sitharaman (Modi Government), which has been termed the ‘Modi Government 3.0 Budget’

The key sectors in Budget 2024 were urban development, infrastructure, energy, social justice, manufacturing, research and development, agriculture, employment, and next-generation reforms.

Finance Minister Nirmala Sitharaman said in her statement that “India’s economic growth remains a great exception and will remain so in the years to come”

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Details of Union Budget 2024-25

Details of Union Budget 2024-25

Key announcements for housing in Union Budget 2024

Union Budget 2024: Measures taken for infrastructure

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Home loans: What Budget 2024 includes

• 10 lakh crore rupees interest subsidy scheme for building urban housing for poor people

• Farmer-enabled credit cards in 5 states

• The expected home loan deduction of Rs 5 lakh was not made in this budget.

Income tax: What Union Budget 2024 includes

ncome tax: What Budget 2024 includes

• Announcement of new tax regime. Standard deduction has been proposed to be increased from Rs 50,000 to Rs 75,000

The tax rate structure is revised as follows

Note:- The new tax system will save up to Rs 17,500 in income tax for salaried employees.

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Income tax has been easy for donations and taxation.

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Some other key measures of Union Budget 2024

Who presented the Union Budget 2024?

India’s Finance Minister Nirmala Sitharaman presented the Union Budget 2024 of the Modi government for the seventh consecutive year

What is UP’s budget in 2024-25?

Uttar Pradesh has received the highest share of around 18% with ₹223737.23 crore.

What is the Union Budget in 2024?

Budget 2024 key highlights:
Total expenditure: ₹48.21 lakh crore
Net tax receipts: ₹25.83 lakh crore
Gross market borrowing: ₹14.01 lakh crore
Net market borrowing: ₹11.63 lakh crore
How many budgets did Nirmala Sitharaman present?
She has presented seven consecutive budgets, including the full budget for 2024-25.

Which sectors will benefit from the 2024 budget?

Sectors like manufacturing, infrastructure, MSME/mortgage loans, and consumption will benefit

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