New Delhi, July 23 (IANS) Indian Union Finance Minister Nirmala Sitharaman on Tuesday presented her seventh straight Budget for the fiscal year 2024-25 surpassing the record previously held by former Indian prime minister Morarji Desai. The Budget, which is the first under Prime Minister Narendra Modi’s third term, was presented in the Lok Sabha (Lower House of Indian Parliament).
The budget would lay a roadmap for ‘Viksit Bharat’ by 2047, focusing on employment, skilling, agriculture and manufacturing.
The first budget under Modi 3.0 seeks an economic vision that balances fiscal prudence. This is Prime Minister Narendra Modi government’s 13th straight Budget since 2014, including two interim ones
The Union Budget focuses on supporting consumption via higher allocation for the rural economy, taxation reforms, infrastructure push, thrust on local manufacturing, job and skill creation and an increase in production-linked incentive (PLI) allocation to more labour-intensive sectors.
In a major push to employment generation, the Finance Minister announced three schemes. “Government to set up three schemes for employment generation. Scheme for first-timers to provide one-month wage to all persons newly entering the workforce in all sectors. First-time employment scheme to benefit 2.1 crore lakh youths,” said the FM.
While presenting the Budget in the Lok Sabha, she said, “People of India have reposed their faith in the government led by PM Modi and re-elected it for a historic third term.”
She said the PM Garib Kalyan Anna Yojana was extended by five years, benefiting more than 80 crore people in the country.
As the Modi government’s focus is the farming community, the Finance Minister said, “New 109 high-yielding, climate-resilient varieties to be released to farmers. One crore farmers are to be initiated into natural farming over two years.”
Other highlights are:
10,000 need-based bio-input centres to be established
Large-scale clusters for vegetable production are to be developed closer to consumption centres.
Digital crop survey for Kharif to be taken up in 400 districts in FY25
Rs 1.52 lakh crore will be set aside for agriculture, and allied sectors in FY25
–IANS
