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Central Finance Minister Nirmala Sitharaman presented the Union Budget for 2024-2025 in Parliament on July 23, 2024. This marks the first budget announced following the commencement of the government's new term after this year's elections.
The government has created a detailed roadmap for their pursuit of "Viksit Bharat," by focusing majorly on four sections of society: farmers, women, youth, and low-income households. The finance minister discussed the significant themes of the annual budget: employment with a focus on developing the skill set of the job-seekers, along with an emphasis on the Ministry of Micro, Small & Medium Enterprises
BLUEPRINT OF PROGRESS: TOP PRIORITIES OF THE ANNUAL BUDGET
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The priorities for the financial year were established:
Productivity and Resilience in Agriculture- The core attention will be on releasing 109 new lucrative and climate-resilient types of 32 horticulture crops; promotion of new ventures for vegetable supply chains; along with focus on National Cooperation Policy and Atmanirbharta. Moreover, the government will initiate 1 crore farmers into natural farming, and improve Digital Public Infrastructure.Employment & Skilling- The government has decided to launch 3 schemes under the Prime Minister's package for employment & skilling to facilitate higher participation of women in the workforce while expecting to help 25,000 students every year. Another scheme under this program will include course content & design aligned as per skill needs of the industry. Inclusive Human Resource Development and Social Justice- Launching of Purvodaya: Vikas bhi Virasat bhi, Pradhan Mantri Janjatiya Unnat Gram Abhiyan along with Andhra Pradesh Reorganization Act would be parts of this financial year's target.Manufacturing & Services- The 5th scheme under the Prime Minister's package will be for providing internship opportunities in 500 top companies to 1 crore youth in 5 years along with a new assessment model for MSME credit.Other Priorities- Additional key areas include stamp duty and water management under urban development; PM Awas Yojana Urban 2.0 under housing needs; Initiatives with the private sector in Nuclear Energy and energy audits; further focal points comprise of new pension schemes, innovative ventures, development of tourist corridors, along with flood management.
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