Budget Highlights :
-Increase in Capex by 11.1% to 11.1 lac Cr
-New 3 Railway Corridors to improve logistics efficiency
-Expansion of existing airports and new airports to be constructed
-Promotion of urban transportation via Metro rail
-Housing for Middle Class to buy/build own houses
-Long term interest free loans to states to boost tourism development
-5 integrated aqua parks
-Solar roof tops in 1 Cr houses to get 300 units of free power every month
What has happened:
-Direct tax collections trebled in 10 years
-Faster IT refunds
-Gross GST Collections average Rs 1.66 lac Cr/month
Taxation: No Change
Fiscal deficit: FY 24 Fiscal deficit is expected to be 5.8% of GDP. Fiscal deficit to reduce to 5.1% in FY24-25.
Govt borrowings: Net borrowing is expected to be Rs 11.75 lac Cr in FY24-25.
10 Year Yields has declined to 7.05. Equity market is flat and USDINR is at 82.97.
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