Interim Budget 2024: Here Are 5 Key Things Nirmala Sitharaman Announced For Middle Class

Interim Budget 2024: Union Finance Minister Nirmala Sitharaman, on Thursday, presented the interim Budget for 2024. Despite being a vote on account rather than a full-fledged budget, the announcements have something for middle-class households. Take a look at 5 things in Budget 2024 that are relevant to the middle and salaried-class.
Budget 2024 Salaried Class

Take a look at things in Budget 2024 that are relevant to the middle and salaried-class.

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Interim Budget 2024: Union Finance Minister Nirmala Sitharaman, on Thursday, presented the interim Budget for 2024. Despite being a vote on account rather than a full-fledged budget, the announcements have something for middle-class households. Take a look at 5 things in Budget 2024 that are relevant to the middle and salaried-class.
  1. One of the standout features of this interim budget is the introduction of the Pradhan Mantri Suryodaya Yojana, a rooftop solar panel scheme set to benefit 1 crore houses. This ambitious initiative not only underscores the government's commitment to sustainable energy but also promises substantial financial savings for families. By providing 300 units of free electricity, the scheme could help households save up to Rs 18,000 annually on their electricity bills, a significant amount that could be redirected towards other essential expenses or savings.
  2. The Finance Minister announced the "Housing for Middle Class" scheme. This initiative aims to assist those living in rented accommodations, slums, chawls, or unauthorized colonies in purchasing or constructing their own homes. It's a move that resonates with Prime Minister Modi's vision of ensuring that deserving sections of the middle class have their own roof over their heads. This scheme, alongside the nearing completion of the Pradhan Mantri Awas Yojana (Grameen) with its target of 3 crore houses and an additional goal of 2 crore houses for the next five years, highlights a significant push towards improving living standards and housing accessibility.
  3. In a bid to alleviate the burden of direct tax demands, the government has also decided to withdraw outstanding demands for amounts up to Rs 25,000 for issues up to the financial year 2010, and up to Rs 10,000 for the years 2011 to 2015. This gesture is expected to benefit around 1 crore taxpayers, providing them with financial relief and possibly improving their trust and engagement with the tax system.
  4. Healthcare, too, received attention in the interim budget. The Finance Minister announced the promotion of cervical cancer vaccination for girls aged 9-14, a proactive step towards combating one of the most common types of cancer affecting women. Additionally, the extension of health coverage under the Ayushman Bharat scheme to include all ASHA and Anganwadi workers and helpers is a significant move towards enhancing the health and wellbeing of these crucial frontline workers.
  5. Despite these forward-looking initiatives, the Finance Minister has decided to keep the tax slabs and structure unchanged. This decision, while maintaining stability in the tax regime, may have left some middle-class taxpayers hoping for more direct tax relief or adjustments to reflect the current economic conditions.
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