The Interim Budget 2024 takes on the ambitious theme of Viksit Bharat, envisioning a developed India by the year 2047. The four pillars of this visionary budget – ‘Garib’ (Poor), ‘Mahilayen’ (Women), ‘Yuva’ (Youth), and ‘Annadata’ (Farmers) – set the stage for an inclusive and people-centric development plan.
Substantive Infrastructure Development
The government has committed to significant development across all forms of infrastructure, including physical, digital, and social. The aim is to create a robust foundation for the nation’s progress.
Digital Public Infrastructure (DPI)
The introduction of Digital Public Infrastructure (DPI) takes center stage, with a focus on promoting formalization and financial inclusion. This initiative is expected to bring a technological revolution in the country.
Tax Base Expansion and Financial Sector Strengthening
To bolster economic growth, the government plans to deepen and widen the tax base through the implementation of the Goods and Services Tax (GST). The financial sector will witness strengthened measures to bring savings, credit, and investment back on track.
Global Financial Hub – GIFT IFSC
In a bid to attract global capital and financial services, a robust gateway named GIFT IFSC will be established. This move is poised to position India as a significant player in the global financial landscape.
Proactive Inflation Management
The budget emphasizes proactive measures for inflation management to ensure economic stability and sustainable growth.
Garib Kalyan, Desh ka Kalyan
Under the banner of ‘Garib Kalyan, Desh ka Kalyan,’ the Direct Benefit Transfer (DBT) initiative shines, leading to substantial savings of Rs. 2.7 lakh crore and lifting 25 crore people out of multidimensional poverty.
Empowering the Youth for Tomorrow
Skill India Mission Triumphs
The government proudly announces the successful training of 1.4 crore youth under the Skill India Mission, unlocking their potential for the job market.
Entrepreneurial Dreams Supported
Fostering entrepreneurial aspirations, 43 crore loans have been sanctioned under the PM Mudra Yojana, empowering the youth to drive economic growth.
Financial Backing for Tech-Savvy Youth
A substantial corpus of Rs.1 lakh crore is allocated to fund tech-savvy youth, offering a 50-year, interest-free loan to encourage innovation and sustainable development.
Farmers – Annadata of the Nation
Direct Financial Assistance
Under PM-KISAN, 11.8 crore farmers receive direct financial assistance, securing their livelihoods and promoting agricultural prosperity.
Crop Insurance for Stability
PM Fasal Bima Yojana provides crop insurance to 4 crore farmers, shielding them against unforeseen agricultural challenges.
Mandis Go Digital
1,361 mandis integrate under eNAM, supporting a trading volume of Rs.3 lakh crore, marking a digital transformation in agricultural transactions.
Nari Shakti – Empowering Women Across Fronts
Mudra Yojana Boosts Women Entrepreneurs
30 crore Mudra Yojana loans have been disbursed to women entrepreneurs, catalyzing their active participation in economic activities.
Educational Triumphs
The past decade witnesses a commendable 28% increase in female enrollment in higher education, with 43% now pursuing STEM courses, marking a positive stride towards gender inclusivity.
Financial Empowerment Through SHGs
83 lakh Self-Help Groups (SHGs) assist one crore women to become ‘Lakhpati Didis,’ highlighting the transformative impact of collective financial empowerment.
