Union Budget 2024: Key Takeaways on Fiscal Deficit, Infrastructure, and MSMEs
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News18•01-02-2026, 16:47
Union Budget 2024: Key Takeaways on Fiscal Deficit, Infrastructure, and MSMEs
- •Finance Minister Nirmala Sitharaman presented the Union Budget, focusing on infrastructure, financial stability, and employment.
- •The government aims to reduce the fiscal deficit to 4.3% of GDP for the next financial year, a 0.1% decrease from the current year's target.
- •An Infrastructure Risk Guarantee Fund will be established to provide partial credit guarantees, easing lending to the infrastructure sector.
- •Foreign global cloud service companies operating data centers in India will receive a tax holiday until 2047.
- •Significant support for MSMEs includes a ₹10,000 crore SME Growth Fund, ₹2,000 crore for the Self-Reliance India Fund, and mandated TReDS platform use for CPSE payments.
Why It Matters: The Union Budget prioritizes fiscal consolidation, infrastructure development, and support for MSMEs and global cloud companies.
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