The much-anticipated Union Budget 2024 was unveiled by Finance Minister Nirmala Sitharaman on Tuesday, July 23, 2024, marking a significant milestone as the Modi government 3.0 gears up to steer India’s economic trajectory towards extraordinary heights. Sitharaman’s momentous seventh consecutive budget presentation since 2019 symbolizes a new dawn for economic policymaking. Let’s delve into the key highlights that underpin this transformative fiscal roadmap.
In a groundbreaking move, Finance Minister Nirmala Sitharaman championed a landmark initiative catering to employment and skill enhancement for India’s burgeoning youth population. Unveiling the Prime Minister’s package, comprising five meticulously crafted schemes set to benefit a staggering 4.1 crore youth over the forthcoming five years, backed by a monumental central allocation of Rs 2 lakh crore. Noteworthy in this year’s budget is the allocation of Rs 1.48 lakh crore earmarked exclusively for bolstering education, employment, and skill development initiatives. This infusion of resources aims to empower the youth with the requisite tools and competencies requisite to excel in the dynamic job market, propelling economic growth.
Addressing the varied needs of the marginalized segments, Finance Minister Nirmala Sitharaman unfurled a strategic blueprint tailored to uplift four pivotal demographics: the impoverished, women, youth, and farmers. Distinctive provisions within the budget are meticulously designed to elevate living standards, provide financial security, and foster inclusive growth for these priority groups. The budget outlines targeted programs aimed at fortifying the socio-economic fabric, enhancing gender parity, and fortifying the agrarian landscape to engender holistic progress.
Moreover, the economic survey accompanying the budget speech foresees a positive trajectory for the Indian economy, envisioning a steady growth rate of 7%. This projection augurs well for bolstering investor confidence, stimulating employment generation, and facilitating sustainable development avenues. As India navigates the intricate terrain of economic resurgence, the Budget 2024 emerges as a cornerstone in laying a robust foundation for a vibrant and resilient economy, positioning the nation as a formidable force in the global economic landscape.
In conclusion, Finance Minister Nirmala Sitharaman’s astute fiscal stewardship and visionary policy interventions showcased in Budget 2024 epitomize a steadfast commitment towards galvanizing India’s growth story. The budgetary allocations, articulated through a lens of inclusivity and forward-looking initiatives, signal a resolute march towards realizing the government’s vision of propelling India towards becoming the world’s third-largest economy.
