The Union Budget 2024 was laid by the Finance Minister Smt. Nirmala Sitharaman in the context of inclusive growth and comprehensive enabling of a country’s progress. Key highlights include:
Union Budget :
- Agriculture and Farmers: The budget focuses on farmer friendly measures; 1,361 mandis are connected to Electronic National Agriculture Market, for 1. There are 8 crore farmers through which total trade volume of ₹3 lakh crore of Union Budget.
- Youth Empowerment: NEP 2020 and Skill India have enhanced the realm of education and skills substantially; 1. 4 crore youth have been trained and 54 lakh upskilled (Hindustan Times) (Online – Hindi). PM Mudra Yojana is one of the ventures that have empowered dreams by providing loans amounting to ₹22. India is now claiming a GDP of 5 lakh crore.
- Women’s Empowerment: Another change which has been recorded is the enhancement of women’s enrollment in higher education as well as the labor force. The Mudra Yojana loans so provided to women entrepreneurs have been thirty crore.
- Economic Management: The budget explains policies for continuing the improvement, enhancement of infrastructures, creation of the digital public infrastructure, and some changes in the GST to integrate the markets of the nation.
- Health and Welfare: Expansion of medical colleges and extensive maternal and child health care plan are mentioned with envisagement to Cervical cancer vaccination for girls 9 to 14 year of age Union Budget .
- Housing and Solarization: It plans out the schemes to offer the housing, and to encourage the rooftop solar that intends to offer free electricity to one crore households.
- Global Context and Geopolitics : This Union budget speaks of global issues, which include wars, conflicts, as well as disruptions in the supply of goods. Despite the unanticipated turmoil during India’s tenure at G20 Presidency, one can highlight the following success: There are three benefits, out of which the first one is writ large: The India-Middle East-Europe Economic Corridor initiative is presented as one of the IPE achievements which can be viewed as one of the key features of India’s G20 Presidency during the time of further turbulence.
- Vision for ‘Viksit Bharat’ : India has dreamt of a Viksit Bharat, a developed India by 2047 with economic progress in tune with nature’s bounty, modern amenities and infrastructure and justice for all. Thus, the government intends to achieve unparalleled growth over the next five years based on demography, democracy, and diversity Union Budget .
- Strategy for ‘Amrit Kaal’ : Budgetary and fiscal policies will be geared towards promoting and exiting growth, development, efficiency, and creation of resources for investment. Finance, technology, and training are the initiatives taken by the government to aid MSMEs, it is in accordance with the ‘Panchamrit’ goals for energy security and efficient growth
These initiatives are in line with the government’s concept of transforming India to a ‘Viksit Bharat’ by 2047, through approaches that seek to ensure that development is inclusive, advancement in technology is pursued and strong of management of the economy is effected. For further information and for the complete view you may visit the India Budget official website containing the full Union budget speech and budget documents.
- For the full details of the Union Budget 2024, you can access the official documents on the Union Budget website.
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