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On the first Monday of Sawan, PM Modi marked the beginning of the budget session by extending his best wishes to the nation. He expressed pride in presenting the budget, emphasizing India's robust 8% growth rate. PM Modi urged political parties and MPs to work diligently over the next five years for the nation's welfare. This budget focuses on advancing progress through renewable energy and green initiatives, strengthening significant investments, and reinforcing India's commitments. The Indian government aims to transform India into a developed nation by 2047. Finance Minister Nirmala Sitharaman will present the budget on July 23, 2024.
Prime Minister Narendra Modi provided insights into the upcoming budget, highlighting its focus on making India a developed nation by 2047. He assured that the next five years would bring significant progress, with continuous advancements in all sectors. PM Modi gave assurance that the government is committed to transforming India into a developed nation within these five years. Additionally, the government might propose increasing the deduction limit under Section 80C of the Income Tax Act.
The budget proposes to increase the allocation for new and renewable energy by 25.71% to ₹128.5 billion. The Ministry of Energy has raised the total budget for the solar energy grid from approximately ₹4,970 crore in FY 2023-24 to ₹8,500 crore in FY 2024-25. The aim is to meet India's growing renewable energy needs and reduce dependence on fossil fuels. The Prime Minister's Surya Udaya Scheme targets the installation of solar panels in one crore homes, providing clean, reliable energy and up to 300 units of free electricity per month. This initiative is expected to create job opportunities across various sectors.
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