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The spending on three most important subsidies, namely food, fertiliser and petroleum is expected to come down from ₹4.13 lakh crore in 2023-24 (RE) to ₹3.81 lakh crore | Latest News India
As per the interim budget papers, an allocation of ₹13,042.75 crore has been made for the department of Space for 2024-25.
The University Grants Commission (UGC) has faced a budget cut this year with the Centre reducing its grant by over 60 per cent while allocation for school education has been increased in the interim budget for 2024-25. , Education News, Times Now
Economic Affairs Secretary Ajay Seth expressed confidence in the non-inflationary Budget proposals, stating that they will contribute to achieving a 7%+ growth rate in 2024-25. The Indian economy rebounded with a growth rate of 9.1% after contracting 5.8% in 2020-21. The government has increased capital expenditure by 11.1% for the next fiscal year. Seth also mentioned that fiscal deficit is expected to moderate to 5.1% in FY25, thanks to tax buoyancy and realistic expenditure estimates.
Nirmala Sitharaman Full Speech: Union finance minister Nirmala Sitharaman on Thursday presented the interim budget 2024-25 in the Parliament.