Exciting Budget 2024 Unveiled: FM Charts Inspiring Path to ‘Viksit Bharat’ | MorungExpress
Union Budget 2024-25: Highlights and Allocations
DIMAPUR, JULY 23 (MExN): Finance Minister Nirmala Sitharaman presented the Union Budget 2024-25 in Parliament, highlighting that India’s inflation rate remains low, stable, and is approaching the 4% target. Core inflation (non-food, non-fuel) is currently at 3.1%.
Key Allocations for the North East:
- Flood Management Assistance: Financial aid for flood-related projects in Assam and Sikkim.
- Banking Expansion: Over 100 branches of India Post Payment Bank to be established in the North East.
- Ministry of DoNER: Allocated Rs 5900 crore.
- New Tribal Scheme: Pradhan Mantri Janjatiya Unnat Gram Abhiyan aims to benefit 5 crore tribal people across 63,000 villages.
Focus Areas:
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Agriculture: Rs 1.52 lakh crore allocated for agriculture. Introduction of high-yielding, climate-resilient crop varieties, and support for natural farming. Strengthening production, storage, and marketing for pulses and oilseeds.
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Employment & Skilling: Implementation of three ‘Employment Linked Incentive’ schemes, enhancement of women’s workforce participation, and a new skilling scheme targeting 20 lakh youth and upgrading 1,000 Industrial Training Institutes.
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Education & Financial Support: Financial aid up to Rs 10 lakh for higher education in domestic institutions with interest subvention.
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Social Justice: Emphasis on supporting economic activities by craftsmen, artisans, self-help groups, SC/ST and women entrepreneurs, and street vendors through various schemes.
- Eastern Region Development: Launch of Purvodaya initiative for comprehensive development in Bihar, Jharkhand, West Bengal, Odisha, and Andhra Pradesh.
Manufacturing & Services:
- Rs 100 crore guarantee fund for MSME applicants.
- New internship scheme in top companies for 1 crore youth.
Urban Development:
- PM Awas Yojana Urban 2.0 to address housing needs of 1 crore urban poor and middle-class families with a Rs 10 lakh crore investment.
Budget Estimates 2024-25:
- Total receipts (excluding borrowings): Rs 32.07 lakh crore.
- Total expenditure: Rs 48.21 lakh crore.
- Fiscal deficit: 4.9% of GDP.
- Market borrowings: Rs 14.01 lakh crore gross, Rs 11.63 lakh crore net.
Sitharaman emphasized the fiscal consolidation path and the government’s aim to reduce the deficit below 4.5% next year.
Original Story https://www.morungexpress.com/budget-2024-fm-unveils-road-map-for-viksit-bharat
Category : Nagaland
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