The key highlights of the Indian Union Budget 2024-25, presented by Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman:
1. Social Justice:
The Prime Minister’s focus is on uplifting four major castes: ‘Garib’ (Poor), ‘Mahilayen’ (Women), ‘Yuva’ (Youth), and ‘Annadata’ (Farmers).
The government has assisted 25 crore people out of multi-dimensional poverty in the last decade.
Direct Benefit Transfer (DBT) of ₹34 lakh crore using PM-Jan Dhan accounts led to savings of ₹2.7 lakh crore for the government.
PM-SVANidhi provided credit assistance to 78 lakh street vendors.
PM-JANMAN Yojana aids the development of particularly vulnerable tribal groups (PVTG).
PM-Vishwakarma Yojana supports artisans and craftspeople engaged in 18 trades.
2. Welfare of Farmers (‘Annadata’):
PM-KISAN SAMMAN Yojana provided financial assistance to 11.8 crore farmers.
PM Fasal Bima Yojana offers crop insurance to 4 crore farmers.
Electronic National Agriculture Market (e-NAM) integrated 1361 mandis, serving 1.8 crore farmers with a trading volume of ₹3 lakh crore.
3. Momentum for Nari Shakti (Women Empowerment):
30 crore Mudra Yojana loans have been given to women entrepreneurs.
Female enrolment in higher education has increased by 28%.
In STEM courses, girls and women constitute 43% of enrolment, one of the highest rates globally.
Over 70% of houses under PM Awas Yojana were allocated to women from rural areas.
4. PM Awas Yojana (Grameen):
Despite COVID challenges, the target of three crore houses under PM Awas Yojana (Grameen) will be achieved soon.
An additional two crore houses will be taken up in the next five years.
5. Rooftop Solarization and Muft Bijli:
One crore households will obtain 300 units of free electricity every month through rooftop solarization.
Each household is expected to save ₹15,000 to ₹18,000 annually.
6. Ayushman Bharat:
Healthcare cover under the Ayushman Bharat scheme will be extended to all ASHA workers, Anganwadi Workers, and Helpers.
7. Agriculture and Food Processing:
Pradhan Mantri Kisan Sampada Yojana has benefited 38 lakh farmers and generated 10 lakh employment.
Pradhan Mantri Formalisation of Micro Food Processing Enterprises Yojana has assisted 2.4 lakh SHGs and 60,000 individuals with credit linkages.
8. Research and Innovation:
A corpus of ₹1 lakh crore will be established with a fifty-year interest-free loan to provide long-term financing or refinancing with long tenors and low or nil interest rates.
A new scheme will be launched for strengthening deep-tech technologies for defence purposes and expediting ‘Atmanirbharta’.
9. Infrastructure:
Capital expenditure outlay for infrastructure development and employment generation will be increased by 11.1% to ₹11,11,111 crore, which will be 3.4% of the GDP.
Comments