Union Minister Ashwini Vaishnaw and Finance Minister Nirmala Sitharaman Announce Big Changes in 2024-25 Budget
New Delhi [India], July 23: Union Minister Ashwini Vaishnaw shared exciting news about the 2024-25 budget. He said it will make taxes simpler and lower, helping middle-class families buy homes. He also mentioned a huge Rs 2 lakh crore plan to create jobs, especially for young people through internships and manufacturing.
Vaishnaw highlighted special help for small businesses, called MSMEs, with new ways to get loans without needing to give something as collateral.
Earlier, Finance Minister Nirmala Sitharaman presented her seventh Union Budget, making history by surpassing former Prime Minister Morarji Desai’s record. She focused on nine key areas like agriculture, jobs, and city development. She also announced new tax rules to make things easier for everyone.
Sitharaman’s budget aims to create jobs for 4.1 crore youth in the next five years and skill 20 lakh young people. She also plans to upgrade 1,000 industrial training institutes.
Doubts Revealed
Union Minister -: A Union Minister is a person who is in charge of a specific department in the government of India. They help make important decisions for the country.
Ashwini Vaishnaw -: Ashwini Vaishnaw is a politician in India who works as a Union Minister. He helps make decisions about technology and railways.
Finance Minister -: The Finance Minister is the person in charge of managing the money and finances of the country. They decide how the government will spend and save money.
Nirmala Sitharaman -: Nirmala Sitharaman is the Finance Minister of India. She helps decide how the country’s money is used and makes important financial plans.
2024-25 budget -: The 2024-25 budget is a plan for how the government will spend its money in the years 2024 and 2025. It includes things like taxes and spending on different projects.
Rs 2 lakh crore -: Rs 2 lakh crore is a very large amount of money. In Indian currency, ‘lakh’ means 100,000 and ‘crore’ means 10 million. So, Rs 2 lakh crore is 2 trillion rupees.
job creation -: Job creation means making new jobs for people. This helps more people find work and earn money.
small businesses -: Small businesses are companies that are not very big. They usually have fewer employees and less money than large companies.
Union Budget -: The Union Budget is a detailed plan of the government’s income and expenses for a year. It is presented by the Finance Minister in the Parliament.
agriculture -: Agriculture is the practice of farming. It includes growing crops and raising animals for food and other products.
city development -: City development means improving cities by building new roads, buildings, parks, and other facilities to make them better places to live.
4.1 crore youth -: 4.1 crore youth means 41 million young people. ‘Crore’ is a term used in India to represent 10 million.
skill 20 lakh young people -: Skill 20 lakh young people means to train 2 million young people. ‘Lakh’ is a term used in India to represent 100,000.
