New Delhi: There’s big news on the horizon: PM Modi is all set to unveil some big announcements for the people of his country with a massive gift prior to the Lok Sabha elections.
The Central Government is getting ready to offer assistance to the working class, the general public, and other organizations in the interim budget for the 2024 election year. The maximum amount of health insurance covered under the Ayushman Bharat Scheme might be raised from Rs 5 lakh to Rs 7.5 lakh prior to the general elections.
The government might raise the amount of tax exemption from the existing Rs 7 lakh to Rs 7.5 lakh under the new income tax scheme. When he presents the interim budget for the upcoming fiscal year on February 1, Union Finance Minister Sitharaman may make this declaration.
Currently, the government offers insurance coverage for hospitalization and treatment up to Rs 5 lakh per family. According to well-placed sources, the administration has been approached with a plan to boost this insurance coverage by fifty percent. It is anticipated that this idea will be approved because it is election year. But a final choice on this matter has not yet been made.
September 23, 2018, saw the inauguration of the Ayushman Bharat Scheme. The National Health Policy of 2017 mandated the implementation of this program with the goal of achieving universal health coverage. One of the biggest health insurance programs in the world, Ayushman Bharat, is the umbrella organization for the Pradhan Mantri Jan Arogya Yojana (PMJAY).
Soon, over 30 crore cards will be produced.
Under this program, 25.21 crore Ayushman cards have been created thus far. This amount is anticipated to shortly surpass 30 crores.
Under this plan, there are around 5.68 crore registered hospitals. In addition, a network including 26,617 hospitals has been prepared.
If the government lifts the income tax exemption ceiling by Rs 50 thousand to Rs 7.5 lakh, then after the usual deduction of Rs 50 thousand, working persons with yearly income up to Rs 8 lakh will not have to pay income tax from the financial year 2024-25.
According to cited government sources, Finance Minister Sitharaman may introduce a Finance Bill to implement this modification. The government raised the exemption threshold under the new tax regime from Rs 5 lakh to Rs 7 lakh in the budget year 2023–24.
Additionally, the basic exemption amount was raised from Rs 2.5 lakh to Rs 3 lakh. Additionally, the government implemented a Rs. 15,000 family pension deduction.
