Interim Budget 2024: Ministry-Wise Budget Allocation List Here

The current Finance Minister, Nirmala Sitharaman, presented the interim budget for 2024 on February 1. The interim budget is presented by the outgoing government before the onset of the Lok Sabha, or general elections. It serves as a blueprint for the upcoming government to follow until a full union budget is presented.

Here are the key areas of focus for the interim budget in 2024:

• Economy: Revised deficit reduced to 5.8% for FY24, aiming for below 4.5% by FY26. Direct tax collection has tripled since 2014.
• Housing: An additional 2 crore houses are planned under PMAY-G.
• Technology & Innovation: Rs 1 lakh crore corpus for research and innovation, including deep tech for defence.
• Healthcare: More medical colleges are to be established using existing infrastructure.
• Women Empowerment: Triple talaq illegal, 1/3rd of seats reserved for women in legislatures, increased access to PMAY-G houses for women.
• Renewable Energy: Free rooftop solar electricity for 1 crore households, aiming for net zero by 2070.
• Tourism: Interest-free loans to states for development.
• Overall Focus: Addressing the needs of vulnerable groups, achieving "Developed India" by 2047, emphasising inclusive development, prioritising good governance, and promoting all-round growth.

You can access the key to budget document to get comprehensive information on the 2024 interim budget. 

Ministry-Wise Budget Allocation List

The budget (interim and union) allocates funds to different ministries operating under the government of India. These funds are distributed based on the priorities and needs of each ministry, taking into consideration the overall development goals of the country. The budget allocation for each ministry, as presented in the 2024 interim budget, is as follows:

Source: indiabudget.gov

As seen from the chart above, the defence sector has been allocated the highest budget allocation in the 2024 interim budget, whereas the agricultural sector has been allocated the lowest.

This was Nirmala Sitharaman's sixth budget presentation as the Finance Minister of India. She also holds the record for the longest budget speech in Indian history on the basis of speech duration.

You can access the Finance Minister's speech for the 2024 interim budget here. 

If you would like to know the difference between the interim and the union budget, you can refer to this article:

Interim Budget vs Full Union Budget: Know Major Key Differences Between Them