Highlights of Interim Budget 2024-25

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There are no changes in direct, indirect tax rates
The government withdrew income tax demands up to ₹25,000 (till 2009-10) and ₹10,000 from 2010-11 to 2014-15. This will benefit about one crore taxpayers

A scheme to help middle class living in rented houses to buy or build their own houses will be launched
Tax benefits to start-ups and investments made by sovereign wealth or pension funds extended by 1 year till March 31, 2025

Capital expenditure hiked 11% to ₹11.11-lakh crore

Fiscal deficit for FY25 projected at 5.1%, lower than the revised estimate (5.8%) in FY24

Govt to borrow ₹14.13-lakh crore in next fiscal, lower than ₹15.43 lakh crore in FY24

Nominal GDP growth for FY25 is projected at 10.5%

Mop-up from central public sector enterprises (CPSEs) disinvestment pegged at ₹50,000 crore for FY25, up from ₹30,000 crore in FY24

Gross tax revenue target for FY25 hiked 11.46% to ₹38.31-lakh crore, from ₹34.37 lakh crore in FY24

Direct tax collection target set at ₹21.99-lakh crore, while that of indirect tax is at ₹16.22-lakh crore
The government will release a white paper on mismanagement of economy prior to 2014

Next generation reforms will be unveiled in consultation with States and stakeholders

Govt to form high-powered panel to address population growth challenges and demographic changes