India Budget 2024: Game Changer or Empty Promises? Women, Youth, Farmers & Your Wallet
Finance Minister Nirmala Sitharaman presented the latest Union Budget on February 1st, 2024, outlining the government's plans for the coming fiscal year. The budget speech highlighted four key groups: women, youth, poor, and farmers, emphasizing their contributions to national progress. Here are some key takeaways:
Social Welfare:
Other Key Initiatives:
Overall, the budget emphasizes social initiatives, infrastructure development, and a focus on specific sections of the population. While the government claims positive economic indicators, some experts express concerns about the long-term sustainability of the fiscal path and the effectiveness of certain schemes.
It's important to note that this is a brief summary and the budget covers many other areas. For a more comprehensive understanding, you can refer to the official budget documents or news articles with further analysis.
Here's a table summarizing the key highlights of the budget:
Social Welfare:
- The government claims to have lifted 25 crore people out of poverty in the past decade.
- Free food will continue to be provided for 80 crore people through various schemes.
- Direct Benefit Transfers of Rs. 34 lakh crore through PM Jan Dhan Yojana accounts have resulted in significant savings.
- Schemes like PM Vishwakarma Yojana support artisans, PM-SVANidhi helps street vendors, and Mudra Yojana aids women entrepreneurs.
- Upskilling and reskilling programs have trained over 1.4 crore youth under Skill India Mission.
Other Key Initiatives:
- Development of the India-Middle East-Europe Economic Corridor to boost trade.
- Increased focus on developing Eastern India to fuel national growth.
- Expansion of Ayushman Bharat healthcare scheme to cover more workers.
- Promotion of "Nano DAP" fertilizer and support for dairy farmers.
- Establishment of a new department, Matsya Sampada, to address fishermen's needs.
- Modernization of railways with Vande Bharat-standard upgrades.
- Net Zero target by 2070 with investments in renewable energy.
- Increased capital expenditure for infrastructure development.
- Fiscal consolidation with a target to reduce the fiscal deficit to 4.5% by 2025-26.
- No changes in tax rates for direct and indirect taxes.
Overall, the budget emphasizes social initiatives, infrastructure development, and a focus on specific sections of the population. While the government claims positive economic indicators, some experts express concerns about the long-term sustainability of the fiscal path and the effectiveness of certain schemes.
It's important to note that this is a brief summary and the budget covers many other areas. For a more comprehensive understanding, you can refer to the official budget documents or news articles with further analysis.
Here's a table summarizing the key highlights of the budget:
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