The interim Union Budget 2024-25 was presented in Parliament by Union Finance Minister Nirmala Sitharaman on Thursday. Some of the major attractions of this time’s budget are the welfare of ‘Annadata’, ‘poor welfare, welfare of the country’, social justice, giving impetus to women power.
Union Finance Minister Nirmala Sitharaman said that the capital expenditure outlay will be increased by 11.1 percent to Rs 11,11,111 crore, which will be for employment generation and infrastructure development. This will be 3.4 percent of the gross domestic product (GDP).
On reforms in the states for ‘Developed India’, the Union Finance Minister said, “A provision of Rs 75,000 crore has been proposed to support the reforms which have proved to be a milestone for the state governments, which will be implemented over a period of 50 years.” Will be available as interest free loan. ,
Announcement of three new railway economic corridors-
Finance Minister Nirmal Sitharaman also announced the establishment of three new major railway economic corridors in the interim Union Budget 2024-25. He said these include a high traffic density corridor, a port connectivity corridor and an energy, minerals and cement corridor. Regarding major railway economic corridors, he said that these corridors will accelerate GDP growth by improving logistics efficiency and reducing logistics costs. There will be less crowding in the high traffic density corridor, which will improve operations. He informed that railway projects have been identified under PM Gati Shakti Yojana, which will enable multi-modal connectivity. He further said that 40 thousand ordinary railway coaches will be upgraded as per Vande Bharat standards for the convenience of passengers. Regarding the aviation sector, Union Finance Minister Nirmala Sitharaman said that “the number of airports in the country has increased to 149, which is double than before.”
Welfare of ‘Annadata’-
On the welfare of ‘Annadata’, Union Finance Minister Nirmala Sitharaman said that PM-Kisan Samman Yojana has provided financial assistance to 11.8 crore farmers. “4 crore farmers have been given crop insurance under the PM Crop Insurance Scheme.”
1361 mandis have been integrated by the Electronic National Agriculture Market (e-NAM), serving 1.8 crore farmers with a turnover of Rs 3 lakh crore.
‘Welfare of the poor, welfare of the country’ –
About 1.3 crore passengers are traveling on 517 new routes. We have also placed orders for more than 1000 new aircraft. On ‘Poor Welfare, Nation’s Welfare’, the Finance Minister said that the government has helped 25 crore people out of poverty in the last 10 years.
The government saved Rs 2.7 lakh crore from DBT of Rs 34 lakh crore by using PM-Jan Dhan accounts. PM-SVANidhi provided loan assistance to 78 lakh street vendors. There are approximately 2.3 lakh street vendors who have received loans for the third time.
Woman power –
Union Finance Minister Nirmala Sitharaman said, “Women’s enrollment in higher education has increased by 28 percent. Enrollment of girls and women in STEM courses is 43 percent, the highest in the world.” Further, on women power, he said that 30 crore Mudra Yojana loans have been given to women entrepreneurs.
PM Awas Yojana-
Regarding PM Awas Yojana (Rural), the Finance Minister said that despite the challenges of Covid, the target of three crore houses will be achieved soon under PM Awas Yojana (Rural). At least two crore more houses will be built in the next five years. He said, “More than 70 percent houses have been given to women in rural areas under the PM Awas Yojana.”
Rooftop solarization and “free electricity”-
Referring to rooftop solarisation and “free electricity”, Union Finance Minister Nirmala Sitharaman said, “Every month 1 crore families will get 300 units of free electricity from rooftop solarisation.” Every house can save Rs 15,000 to 18,000 annually through rooftop solar energy.
Ayushman Bharat Scheme-
He further said that health care cover will be extended to all Asha workers, Anganwadi workers and helpers under the Ayushman Bharat scheme.
employment –
In the interim Union Budget 2024-25, Union Finance Minister Nirmala Sitharaman said that 38 lakh farmers have benefited from the Pradhan Mantri Kisan Sampada Yojana and about 10 lakh jobs have been created under the scheme.
He said that 2.4 lakh SHGs and 60,000 individuals have been supported with credit linkage by the formalization of Pradhan Mantri Micro Food Processing Enterprises Scheme.
Research and Innovation-
Rs 1 lakh crore to provide long-term financing or refinancing with low or zero interest rates and for longer tenures, Union Finance Minister Nirmala Sitharaman said about research and innovation to accelerate growth, employment and development. The fund will be set up, which will be available with 50 years interest free loan.