Finance Minister Nirmala Sitharaman presents the Union Budget 2024-25 today, following the release of the Economic Survey. The budget is unveiled in Parliament at 11 a.m., marking the first budget of Prime Minister Narendra Modi’s third term.
PM Suryaghar Muft Bijli Yojana Launched
Sitharaman introduces the PM Suryaghar Muft Bijli Yojana, a new scheme aimed at providing free electricity to 1 crore households. The initiative will support the installation of rooftop solar panels, enabling families to receive up to 300 units of free electricity each month. This program is expected to boost the adoption of solar energy. On free solar electricity scheme, Finance Minister Nirmala Sitharaman says, “PM Suryaghar Muft Bijli Yojana has been launched to install rooftop solar panels to enable 1 crore households to obtain free electricity upto 300 units each month. This scheme will further encourage it.”
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₹10 Lakh Crore Investment in Urban Housing
The Finance Minister announces a significant ₹10 lakh crore investment to address the housing needs of 1 crore urban poor and middle-class families. This funding aims to improve housing affordability and support infrastructure development in urban areas. Finance Minister Nirmala Sitharaman says, “Urban Housing: Under the PM Awas Yojana-Urban 2.0, the housing needs of 1 crore poor and middle-class families will be addressed with an investment of Rs 10 lakh crores. This will include the central assistance of Rs 2.2 lakh crores in the next five years…”
Support for Women in the Workforce
Sitharaman details plans to enhance female workforce participation through the establishment of working women hostels and creches. Additionally, the government will introduce a National Cooperation Policy to support overall development and offer financial aid for higher education loans up to ₹10 lakh for domestic institutions.
The budget emphasizes green energy initiatives, substantial urban housing investments, and support for women in the workforce, laying out a broad agenda for sustainable growth and development.