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Budget 2024-25

 

Empowering Farmers, Women, and Youth: Highlights of the Interim Budget 2024-25

Introduction

The Interim Budget for the year 2024-25 was presented by Nirmala Sitharaman, the Finance Minister of India, with a focus on empowering farmers, women, youth, and the underprivileged population. The government aims to increase farmers' income, empower women, and create more employment opportunities for the youth. The Interim Budget was presented ahead of the upcoming Lok Sabha elections, and the full budget will be presented in July after the formation of the new government.

Fostering Positive Economic Changes

In her pre-election budget speech, Finance Minister Sitharaman highlighted the significant positive changes witnessed in the Indian economy over the past decade. She emphasized that the people of India are hopeful and looking towards a better future with optimism and choices. Under the leadership of Prime Minister Narendra Modi, the government has focused on inclusive development across all sections of society.

Prioritizing Social Justice

The Finance Minister reiterated the government's commitment to addressing socio-economic inequalities and uplifting marginalized communities. She stressed that the government is determined to eliminate structural inequities and create equal opportunities for all citizens. The implementation of structural reforms, welfare programs, and job creation initiatives has contributed to the rejuvenation of the economy and improved the well-being of the population.

Achievements in Alleviating Poverty

Sitharaman mentioned that the government has successfully lifted 25 crore people out of multidimensional poverty in the past ten years. Previous efforts to tackle poverty yielded minimal results, but the current government has adopted a transparent approach, ensuring that all eligible citizens benefit from welfare schemes.

Focus on Education and Skill Development

The Finance Minister highlighted the government's efforts to bring about transformative changes through the National Education Policy. The government aims to enhance the quality of education, encourage innovation, and prepare the next generation for unprecedented growth. Investments in education will play a crucial role in promoting inclusive development and fostering substantial economic growth over the next five years.

Boosting Agricultural and Dairy Sectors

Sitharaman announced initiatives to increase milk production and enhance the dairy sector's contribution to the economy. India is the largest milk producer globally, but the productivity needs improvement. The government aims to promote self-reliance through a comprehensive policy framework for sesame production. This will enable the country to meet its domestic demand and reduce dependence on imports.

Support for Farmers through PM-KISAN Scheme

Under the PM-KISAN scheme, financial assistance has been provided to 11.8 crore farmers. This scheme, which is one of the world's largest direct benefit transfer programs, offers an annual financial benefit of ₹6,000 to eligible farmers. The funds are directly credited to the bank accounts of farmers across the country. The government is also planning to introduce a housing scheme for the middle class to facilitate affordable housing purchase or construction.

Conclusion

The Interim Budget for 2024-25 reflects the government's commitment to inclusive development and social justice. The focus on empowering farmers, women, and youth, along with the implementation of welfare programs and economic reforms, is poised to drive significant growth and development in India. The government's efforts to resolve global challenges and successfully navigate the complexities of the international scenario have positioned India as a resilient economy. As the nation moves forward, it aims to harness the potential of diverse sectors, foster innovation, and ensure a prosperous future for all its citizens.

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