Budget 2024: Nirmala Sitharaman के एक-एक ऐलान के पीछे की वजह।NEET UG SC Verdict। CJI Chandrachud

Summary

The video script discusses the Indian government's budget for 2024, highlighting key areas of focus such as agriculture, job creation, and social justice. It mentions the reduction in import duties on gold, aiming to make it more affordable, and initiatives to provide affordable housing for the urban poor. The script also touches upon the Supreme Court's decision on the NEET exam and the political implications of the budget, suggesting that while it addresses the middle class and farmers, it may not fully meet the expectations set by the opposition.

Takeaways

• 📉 The budget speech by Finance Minister Nirmala Sitharaman led to an initial drop in the stock market indices, reflecting investor sentiment and expectations.
• 💼 To address unemployment, especially among the youth, the government announced internship opportunities for 1 million youths with a monthly stipend and additional support.
• 🏠 The government's focus on affordable housing included provisions for 1 million urban poor under the PM Awas Yojana with an allocation of ₹1 lakh crore.
• 🌾 The agricultural sector was allocated ₹52,000 crore, a significant increase from the previous year's budget, indicating a commitment to rural development and farmer welfare.
• 🛑 The Supreme Court's decision to not re-conduct the NEET exam is a significant ruling that impacts the future of medical aspirants and the broader educational system.
• 💰 The middle class received some tax relief with a new tax regime, although the benefits were modest, signaling a political message ahead of the 2024 elections.
• 📉 The budget announcement did not meet the expectations of the real estate sector, particularly the removal of indexation benefits under Section 48 of the Income Tax Act.
• 📈 The government proposed to simplify tax calculations by removing the complexity of indexation benefits for capital gains tax, aiming to make housing more accessible.
• 🛑 The budget did not announce an increase in the Minimum Support Price (MSP) for agricultural products, leading to disappointment among farmers who were expecting more support.
• 🚫 The budget speech did not include any significant announcements for the defense sector, which was a point of disappointment for some stakeholders.
• 📊 The focus on small and medium enterprises (MSMEs) was evident with an increase in credit limits for loans from banks and plans to expand the reach of the Small Industries Development Bank of India (SIDBI).

Q & A

What was the expectation from the budget presented by the Narendra Modi government for the fiscal year 2024-2, and did it meet the expectations?

The expectations were high, particularly for the middle class hoping for income tax relief, the stock market anticipating improvements for investors, and the agricultural sector looking for substantial support. However, the script suggests that the budget left many disappointed, as it did not address their problems adequately.

What was the Supreme Court's decision regarding the NEET UG retest?

The Supreme Court decided that the NEET UG examination would not be retested, stating that there was insufficient evidence to suggest widespread discrepancies in the exam, and retesting would not be in the interest of the students.

How did the government's budget address the issue of unemployment, especially among the youth?

The government announced a plan to provide internship opportunities for 1 million youths in the top 500 companies in the country, along with financial assistance. Additionally, there was an employment-linked incentive scheme to encourage companies to hire more people, especially those earning less than ₹1 lakh per month.

What changes were made to the import duties that affected the prices of gold and other commodities?

The government reduced the import duties on gold from 15% to 6%, which resulted in a decrease in gold prices. There were also reductions in import duties on other commodities, making items like mobile phones, solar panels, and certain medicines cheaper.

How does the budget plan to support the agricultural sector with a focus on natural farming?

The budget allocated ₹52,000 crores for the agricultural sector, with plans to issue new Kisan Credit Cards in five states, support for natural farming for 10,000 farmers, and the development of vegetable production clusters near major consumer centers.

What was the reaction of the real estate sector to the budget announcements?

The real estate sector had mixed reactions. While some were concerned about the removal of indexation benefits for capital gains tax, which could increase tax liabilities, others expected a boost in the real estate market due to increased housing demand.

What are the implications of the budget on the middle class in terms of tax relief and standard deduction?

The middle class received some tax relief with no tax on income up to ₹3 lakh and a 5% tax on income between ₹3 and ₹7 lakh. Standard deduction was also increased from ₹50,000 to ₹75,000, signaling the government's attempt to provide some relief to the middle class.

How does the budget address the issue of affordable housing for the urban poor?

The budget announced plans to build houses for 1 crore urban poor under the PM Awas Yojana, with a provision of ₹70,000 crores, expecting the central government to contribute ₹5 lakh crores over the next five years.

What were the security-related budget allocations, and what are their intended purposes?

The Home Ministry was allocated ₹43,000 crores, a significant portion of which is intended for central paramilitary forces responsible for internal security, border security, and the protection of important institutions.

How does the budget plan to promote skill development and employment among the youth?

The budget introduced new schemes for skill training, aiming to provide vocational training to 20 lakh youths over five years, with financial assistance for setting up food units and e-commerce exports, as well as loans for admission to institutions across the country.