Dive into the transformative Interim Budget 2024-2025 speech by Finance Minister Nirmala Sitharaman on February 1, 2024. Explore the key highlights, inclusive development initiatives, and impactful welfare programs shaping the nation’s future.
Introduction of Interim Budget
In the dynamic landscape of the Indian economy, Finance Minister Nirmala Sitharaman presented the much-anticipated Interim Budget for 2024-25, reflecting on a decade of remarkable progress and envisioning a future filled with optimism.
A Decade of Transformation
- Visionary Leadership: Under the visionary leadership of Prime Minister Shri Narendra Modi since 2014, the government embraced the ‘Sabka Saath, Sabka Vikas’ mantra, initiating structural reforms and pro-people programs.
- Economic Resilience: Overcoming significant challenges, the government’s commitment to inclusivity led to a surge in opportunities, employment, and entrepreneurship, infusing the economy with new vitality.
- Anticipating a Bright Future: The second term reinforced the development philosophy of ‘Sabka Saath, Sabka Vikas, and Sabka Vishwas,’ fostering a sense of purpose and hope. Overcoming the challenges of a pandemic, the nation stands on the brink of the ‘Amrit Kaal.’
Inclusive Development and Growth
- Holistic Development: Departing from the conventional ‘up-to-village level’ approach, the last decade witnessed targeted development programs, ensuring essentials like housing, water, electricity, and financial services reached every household.
- Rural Empowerment: Eliminating concerns about food, the government provided free ration for 80 crore people, increased minimum support prices, and enhanced real income in rural areas, fostering economic growth and job creation.
Social Justice
- Comprehensive Approach: Embracing an all-round, all-pervasive, and all-inclusive development model, the government aspires to make India a ‘Viksit Bharat’ by 2047, focusing on improving people’s capabilities and empowerment.
- Effective Governance: Moving beyond the political slogan, social justice is now an effective governance model, ensuring transparency, fairness, and equal access to opportunities for all strata of society.
Garib Kalyan, Desh ka Kalyan
- Empowering the Poor: The government’s commitment to empowering the poor resulted in 25 crore people breaking free from multi-dimensional poverty in the last decade, turning them into active partners in the development process.
- Direct Benefit Transfer: Through the ‘Direct Benefit Transfer’ of ₹34 lakh crore, significant savings of ₹2.7 lakh crore were realized, aiding the ‘Garib Kalyan’ initiative.
- Support for Street Vendors: The PM-SVANidhi scheme provided credit assistance to 78 lakh street vendors, fostering entrepreneurship at the grassroots.
Welfare of Annadata
- Supporting Farmers: Recognizing farmers as ‘Annadata,’ the government provided direct financial assistance and crop insurance, ensuring the sector’s inclusive, balanced growth and productivity.
- Digital Agriculture Market: The Electronic National Agriculture Market integrated 1361 mandis, providing services to 1.8 crore farmers with a trading volume of ₹3 lakh crore.
Also read: Game-Changing Interim Budget 2024-2025 Unveiled by Finance Minister Nirmala Sitharaman(Part-2)
Empowering Amrit Peedhi, the Yuva
- Transformative Education: The National Education Policy 2020 and PM ScHools for Rising India (PM SHRI) aim to bring about transformative reforms in education, nurturing well-rounded individuals.
- Skill Development: The Skill India Mission, PM Mudra Yojana, and various startup schemes empower the youth, facilitating entrepreneurship and providing avenues for skill development.
- Sports and Achievements: India’s youth, scaling new heights in sports, showcased the nation’s confidence with record-breaking medal tallies in the Asian Games and Asian Para Games in 2023.
Conclusion
In conclusion, Finance Minister Nirmala Sitharaman’s Transformative Interim Budget 2024-2025 outlines a strategic vision for India’s comprehensive and inclusive development. Over the past decade, positive transformations have been realized through visionary leadership and a commitment to ‘Sabka Saath, Sabka Vikas.’
Initiatives such as ‘housing for all’ and ‘electricity for all’ showcase dedication to social inclusivity and geographical development, fostering economic growth. The Interim Budget prioritizes social justice, empowering the poor, women, youth, and farmers, aligning with the goal of making India a ‘Viksit Bharat’ by 2047.
‘Garib Kalyan’ initiatives signal a paradigm shift, using Direct Benefit Transfers to assist 25 crore people and generate significant government savings. The Interim Budget sets the stage for holistic, inclusive, and sustainable development, leaving no one behind. With a commitment to socio-economic transformation, India looks ahead with hope and confidence towards a brighter future.
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