Finance Minister Nirmala Sitharaman has once again made history with her budget presentation. Announced on July 23, 2024, this budget meets the expectations of everyone, from women to farmers. Sitharaman emphasized the trust people have in their policies, stating that inflation in India stands at 4 percent and efforts will be made to reduce it. She highlighted efforts to ensure fair prices for farmers and the continuation of free ration distribution. Special attention will be given to India’s economy, and five new schemes for employment were announced.
Sitharaman introduced a nine-point plan for a developed India. For horticulture, 109 varieties of 32 crops will be released. Efforts will be made to improve agricultural research, with surveys conducted in 400 districts. Special focus will be given to increasing production in the agricultural sector. Training will be provided to Farmer Producer Organizations (FPOs) in their first four years of employment. Efforts will be made to increase women's participation in the workforce. A thousand industrial hubs and clusters will be established. The credit limit for Mudra loans has been increased to ₹20 lakh. Financial support will be provided for MSME quality improvement, along with 140 lab facilities. E-commerce establishments will also be set up. ₹2.66 lakh crore will be allocated for rural development, and a ₹2 crore package will be issued for employment.
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Sitharaman placed special emphasis on the agriculture sector in this budget, announcing an investment of ₹1.52 lakh crore. New registrations for FPOs will be prioritized, with a grant of ₹15,000 under the PM scheme. The PM Kisan scheme will be implemented in three phases, starting with natural farming for 1 crore farmers. Missions for expanding pulses and oilseeds will be launched. Under the PM Awas Yojana, 3 crore new houses will be built, and water supply will be ensured in 100 major cities. The PM Surya Ghar Yojana will provide free electricity to 1 crore households, and the scheme will also support pump storage projects. Farmer credit cards will be launched in five states, and 12 new industrial hubs will be approved. New solar power plant technology will be introduced across the country.
Read More.... Budget 2024: Focus on Increasing Agricultural Productivity, 109 New Varieties of 32 Crops to be Introduced
Job Announcements for Youth: Sitharaman made several significant announcements for youth employment in this budget. Training will be provided to 20 lakh youth, and 25,000 students will be given jobs. She mentioned that 30 lakh jobs will be created in the production sector, and education loans up to ₹10 lakh will be provided with a 3 percent interest rate. The FPO scheme will benefit 210 lakh youth. The government will provide a monthly internship stipend of ₹5,000 and₹6,000 assistance.
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