Pioneering a prosperous future: Nitin Gadkari hails Modi govt's first budget of third term

Gadkari hailed the budget as pioneering a prosperous future with advanced infrastructure, innovation, and next-generation reforms, developing every section of the society.

He said this dynamic blueprint promises to boost productivity in agriculture, enhance employment and skilling, and elevate human resources and social justice.

Gadkari said it drives progress in manufacturing and services, urban development, and energy security. With a strong focus on infrastructure, innovation, research, and next-generation reforms, this budget sets the stage for India's significant advancement across all sectors ,he added.

Gadkari said a brighter, more prosperous future awaits us all. He said this forward-thinking budget fosters sustainable growth, innovation, and enduring progress, ensuring a resilient and prosperous future for India under the visionary leadership of Prime Minister.

Key highlights of Budget 2024

Delivering the Union Budget 2024, Sitharaman announced Special Financial Support for Andhra Pradesh, where 15,000 crore have been directed with additional amounts in coming years.

For Bihar, Sitharaman announced support for the development of an industrial node in Bihar's Gaya on the Amritsar-Kolkata industrial corridor. 

The government will, as the Finance Minister said, support the several road connectivity projects, Patna Purnea Expressway; Buxar Bhagalpur Expressway; Bodh Gaya, Rajgir, Vaishali and Darbhanga spars.

An additional tooling bridge over River Ganga at Buxar at a total cost of 26,000 crore was announced.

Sitharaman announced the Prime Minister's package of five schemes and initiatives.

The Modi government will launch a comprehensive scheme for providing internship opportunities for youths in top companies. This will be the 5th scheme under the Prime Minister’s package.

Sitharaman announced that the scheme will provide internship opportunities  in 500 top companies to one crore youth in 5 years. They will gain exposure for 12 months to real-life business environments, varied professions and employment opportunities, she said.

An internship allowance of Rs 5,000 per month along with a one-time assistance of Rs 6,000 will be provided to the youth. Companies will be expected to bear the training cost and 10 percent of the internship cost from their CSR funds, the Finance Minister added. 

In new tax regime tax rate structure to be revised as follows:  Income from Rs 0 to Rs 3 lakh tax is Nil, from Rs 3lakh to Rs 7 lakh tax at 5 pc, from Rs 7 lakh to Rs 10 lakh at 10 pc, from Rs 10 lakh  to 12 lakh at 15 pc, Rs 12 lakh to Rs 15 lakh lakh at 20 pc and above Rs 15 lakh at 30 pc. A salaried person will now save upto Rs 17500 in IT annually as a result.