2024 Union budget of India
The 2024 Union Budget of India provide's comprehensive information regarding the projected revenue and government spending for the fiscal year 2024–25, commencing on 1 April 2024 and concluding on 31st March 2025.[1][2][3][4]
The
In alignment with the government's development goals, the budget delineates a comprehensive plan to enhance the nation's infrastructure, emphasizing the construction of roads, bridges, and digital networks to facilitate connectivity and economic integration. This push towards infrastructure development is expected to stimulate job creation and propel India's economic growth. The strategic focus on rural and agricultural development is evident, with increased allocations aimed at modernizing farming techniques, expanding crop insurance, and bolstering the supply chain from farm to market.
Healthcare received a significant boost with the expansion of Ayushman Bharat, India's flagship health insurance scheme, and the establishment of more medical colleges to increase the availability of qualified healthcare professionals. Education also saw a pronounced focus, with the budget outlining measures to implement the National Education Policy 2020 effectively. This includes the PM SHRI initiative, which aims to enhance the quality of education across schools in India.
The budget's emphasis on technology and innovation marks a commitment to securing India's position at the forefront of the fourth industrial revolution. By allocating funds to support start-ups and new-age technological advancements, the government seeks to foster an ecosystem ripe for discovery and entrepreneurial ventures. These measures are poised to create a conducive environment for the youth and innovators, with the potential to transform India into a global hub for technological advancements and skilled manpower.
In alignment with the government's development goals, the budget delineates a comprehensive plan to enhance the nation's infrastructure, emphasizing the construction of roads, bridges, and digital networks to facilitate connectivity and economic integration. This push towards infrastructure development is expected to stimulate job creation and propel India's economic growth. The strategic focus on rural and agricultural development is evident, with increased allocations aimed at modernizing farming techniques, expanding crop insurance, and bolstering the supply chain from farm to market.
Healthcare received a significant boost with the expansion of Ayushman Bharat, India's flagship health insurance scheme, and the establishment of more medical colleges to increase the availability of qualified healthcare professionals. Education also saw a pronounced focus, with the budget outlining measures to implement the National Education Policy 2020 effectively. This includes the PM SHRI initiative, which aims to enhance the quality of education across schools in India.
The budget's emphasis on technology and innovation marks a commitment to securing India's position at the forefront of the fourth industrial revolution. By allocating funds to support start-ups and new-age technological advancements, the government seeks to foster an ecosystem ripe for discovery and entrepreneurial ventures. These measures are poised to create a conducive environment for the youth and innovators, with the potential to transform India into a global hub for technological advancements and skilled manpower.
Major announcements
Reports of past year
Strategies
The budget announced various plans for infrastructural development:[5]
- Sustainable Developments
Various projects on coal gasification and liquification shall be planned. Viability gap funding shall be provided for wind energy projects. Rooftop solar panels for household will be planned to encourage 300 units per month of electricity production and e-vehicle ecosystem to be developed further.
- Infrastructure
3 Major railway corridors will be planned. Focus would also be on expansion and development of new airports.
References
- ^ "Union Budget 2024: A beginner's guide to understanding it". Moneycontrol. 15 January 2024. Retrieved 17 January 2024.
- ^ a b Upadhyay, Deepak (16 January 2024). "Budget 2024: How the Union Budget is prepared? A quick guide". mint. Retrieved 17 January 2024.
- ^ "Budget 2024 Highlights and Key Announcements: FM Nirmala Sitharaman says fiscal deficit brought down despite very challenging times". Times of India. 2 February 2024. Retrieved 2 February 2024.
- ^ Moulik Jain (2 February 2024). "India's MSME Sector: A New Dawn With Budget 2024'S Transformative Measures". CaptainBiz. Retrieved 2 February 2024.
- ^ "Key Features of Budget 2024-2025" (PDF). GoI. Retrieved 2 February 2024.