Budget in numbers: 50-year interest-free loans for several sectors announced

Nirmala Sitharaman said her government will adopt economic policies that foster and sustain growth, facilitate inclusive and sustainable development.

New Delhi: Finance minister Nirmala Sitharaman presented the Interim Budget in the Parliament on Thursday. In her last budget speech before the Lok Sabha elections, she said the government is equally focused on "GDP - Governance, Development and Performance." Amid tension with the Maldives, Nirmala Sitharaman also announced that the government will provide a fillip to the tourism sector in Lakshadweep.

Union finance minister Nirmala Sitharaman and other officials outside the Finance Ministry. (PTI)

"To address fervour for domestic tourism, projects for port connectivity, tourism infra and amenities will be taken on our islands including Lakshadweep," she announced.

Sitharaman said her government will adopt economic policies that foster and sustain growth, facilitate inclusive and sustainable development, improve productivity and create opportunities for all.

Budget Speech highlights: No change in taxation, says Finance minister

Here are the key announcements in Budget speech made by Nirmala Sitharaman:

1. The outlay for infrastructure has been increased to ₹11.11 lakh crores in FY25
2. For our tech-savvy youth, this will be a golden era. A corpus of ₹1 lakh crore will be established with 50-year interest-free loan provided. It will be for long-term financing or re-financing with low or nil interest rates.
3. Many growth and development-enabling reforms are needed in the state for realising the vision of Viksit Bharat. A provision of ₹75,000 Crores as a 50-year interest-free loan is proposed this year to support those milestone-linked reforms by the state governments.
4. The revised estimate of the fiscal deficit is 5.8% of GDP, improving on the budget estimate notwithstanding moderation in the nominal growth estimates.
5. In the full Budget in July, our government will present a detailed roadmap for our pursuit of 'Viksit Bharat'. Revised estimates of 2023-24: The revised estimates of the total receipts other than borrowings ₹27. 56 lakh crore of which the tax receipts are ₹23.24 lakh crore.
6. Number of airports have doubled to 149. Rollout of air connectivity to Tier-2 and Tier-3 cities under UDAAN scheme has been widespread. 517 new routes are carrying 1.3 crore passengers. Expansion of existing airports and development of new airports will continue expeditiously.
7. 300 units of free electricity to be provided per month to 10 million households through rooftop solarization
8. ₹11.1 trillion: Capital expenditure budgeted for 2024-25, up 11.1% from 2023-24 allocation
9. 100 MT: Capacity for coal gasification and liquefaction to be set up by 2030 as part of net zero progress
10. ₹27.6 trillion: Revised estimate for total non-debt receipts for 2023-24
11. ₹44.9 trillion: Revised estimate for total expenditure for 2023-24, slightly lower than the budgeted ₹45 trillion
12. 5.8%: Revised estimate of fiscal deficit as share of GDP for 2023-24
13. ₹1.3 trillion: Total outlay for the 50-year interest-free loans for capex to state
14. ₹14.1 trillion: Gross market borrowings through dated securities aimed for 2024-25
15. 10 million: Number of taxpayers likely to benefit from the withdrawal of historical tax demands until 2014-15
16. ₹86,000 crore: Budgeted expenditure for MGNREGS in 2024-25, same as the revised estimate for 2023-24
17. 19%: Increase in gender budget of the Centre in 2024-25, to ₹3.1 trillion