Yojana Magazine September 2024 - 1 | Current Affairs & Hindu Analysis: Daily, Weekly & Monthly - UPSC PDF Download

 Page 1


SEPTEMBER 2024
A DEVELOPMENT MONTHLY
Page 2


SEPTEMBER 2024
A DEVELOPMENT MONTHLY
CHIEF  EDITOR
KULSHRESTHA KAMAL
EDITOR
SHU(HITA [HATURVEDI
OuR REPRESENTATIVES
Ahmedabad: JS Patel, Bengaluru: Shahid T Komath,
Bhubaneswar:  Manoj  Kumar Jali,  Chennai:  Sanjay
Ghosh,     Guwahati:     Maruf    Alam,     Hyderabad:
Krishna   Vandana   P,  Jalandhar:   Gagandeep   Kaur
E-mail (Editorial): sec-yojanaeng-moib@gov.in
YO}ANA, a development monthly published since
1957,  is a theme-based journal providing in-depth
analyses  and  views  on  socio-economic  issues  in
the  broader  framework  of  government  policies.
Although  published by the  Ministry of Information
and   Broadcasting,  Y0jANA  is  not  restricted  to
expressing the official point of view.
DISCLAIMER
•  The   views   expressed   in   various   articles   are
those of the authors and they do not necessarily
refoect  the  views  Of  the  Government  or  the
organisation/s they work for.
•   Maps/flags used in the articles are only indicative
and they do not refoect the political map or legal
representation  of  the  foag  Of  India/any  other
Country.
•  The  .Infographics/figures  are  `provided  by  the
authors   through   their   reliable   sources   and
YC}]AINAclaims no respohsibility for the same.
•   Images,   graphics   and   illustrations,   wherever
used,   are   mostly   sour:ed   from   government
channels and are indicative in nature.
•  YO|AINALdoes not own responsibility regarding
the contents Of th.e advertisements. The readers
are  requested to verify the claims made in the
advertisements     regarding     courses,     career-
± guidance books or institutions.
•  YOJAENA  doesn't  endorse  or  promote  any
brands  or  private  entities  presented  as  case
studies in any of the articles.
SuBSCRIPTION/GRIEVANCES
Email: pdjucir@gmail.com
Phone: 011-24367453
(Monday-Friday, 9:30 am-6:00 pin)
Postal  Address:  Abhishek  Chaturvedi,  Editor,
Journals  Unit,  Publications  Division,  Room  No.
779,   Soochna   Bhawan,   CGO   Complex,   Lodhi
Road, New Delhi-110 003.
please note that it will take atleast eight weeks to
start your subscription.  Kindly  raise your queries/
grievances about nan receipt of the journals only
after this period.
SUBSCRIPTloN-RELATED DETAILS : Page 61
Let noble thoughts come to us from all sides.
RIg Veda
Since 1957
IN THIS  ISSUE
PUBLIC FINANCE ANIl
l]EVELOPMENT: EVALllATI0N 0F
iNI]IA's Biil]GETAnv pnlonlTIEs
Dr Sajjan Singh Yadav
IN[LiislvE HUMAN nEsoim[E
I]EVELOPMENTANl]SO[IAL|lJSTI[E
Sanjib Pohit
Souryabrata Mohapatra
A HEW [HAPTER IN INDIA'S
EMPLoyMENT sTony
Ramesh Krishnamurthy
sALAnlEI] [LAss ANi] [ONsiiMms:
KEY TO VIKSIT BHARAT
Shishir Sinha
i"oDUITlvlTy ANi] nEsiLIEN[E iN
AGni[uLTimE
Dr Jagdeep Saxena
A DEVELOPMENT MONTHLY
INNOVATIOIl, RESEAR(H AMP
DrvELOpMEMT
Sachin Chaturvedi
ENERGY SE(URITY
Dr S C Lahiry
FOSTERING INFRASTRufluRE
DEVELOpMENT IN iNI]IA THnouGH
FISCAL INTEIVENTI0NS
Dr Amiya Kumar Mohapatra
Focus oN THE MANUFACTimiNG
ANI] sEnvl[Es sECTons
Dr Ranjeet Mehta
INDUSTRY PERSPEFTIVE ON
MAHUFAFTURiNG e ioBs (REATIOM
Jyoti ViJ.
Number of pages: 64
Details of the Sales Outlets of the Publications Division on Page 45
YOJANA  is  published  in  Assamese,  Bengali,  English,  Gujarati,  Hindi,  Kannada,  Malayalam,  Marathi,  Odia,
Punjabi, Tamil, Telugu, and Urdu.
Page 3


SEPTEMBER 2024
A DEVELOPMENT MONTHLY
CHIEF  EDITOR
KULSHRESTHA KAMAL
EDITOR
SHU(HITA [HATURVEDI
OuR REPRESENTATIVES
Ahmedabad: JS Patel, Bengaluru: Shahid T Komath,
Bhubaneswar:  Manoj  Kumar Jali,  Chennai:  Sanjay
Ghosh,     Guwahati:     Maruf    Alam,     Hyderabad:
Krishna   Vandana   P,  Jalandhar:   Gagandeep   Kaur
E-mail (Editorial): sec-yojanaeng-moib@gov.in
YO}ANA, a development monthly published since
1957,  is a theme-based journal providing in-depth
analyses  and  views  on  socio-economic  issues  in
the  broader  framework  of  government  policies.
Although  published by the  Ministry of Information
and   Broadcasting,  Y0jANA  is  not  restricted  to
expressing the official point of view.
DISCLAIMER
•  The   views   expressed   in   various   articles   are
those of the authors and they do not necessarily
refoect  the  views  Of  the  Government  or  the
organisation/s they work for.
•   Maps/flags used in the articles are only indicative
and they do not refoect the political map or legal
representation  of  the  foag  Of  India/any  other
Country.
•  The  .Infographics/figures  are  `provided  by  the
authors   through   their   reliable   sources   and
YC}]AINAclaims no respohsibility for the same.
•   Images,   graphics   and   illustrations,   wherever
used,   are   mostly   sour:ed   from   government
channels and are indicative in nature.
•  YO|AINALdoes not own responsibility regarding
the contents Of th.e advertisements. The readers
are  requested to verify the claims made in the
advertisements     regarding     courses,     career-
± guidance books or institutions.
•  YOJAENA  doesn't  endorse  or  promote  any
brands  or  private  entities  presented  as  case
studies in any of the articles.
SuBSCRIPTION/GRIEVANCES
Email: pdjucir@gmail.com
Phone: 011-24367453
(Monday-Friday, 9:30 am-6:00 pin)
Postal  Address:  Abhishek  Chaturvedi,  Editor,
Journals  Unit,  Publications  Division,  Room  No.
779,   Soochna   Bhawan,   CGO   Complex,   Lodhi
Road, New Delhi-110 003.
please note that it will take atleast eight weeks to
start your subscription.  Kindly  raise your queries/
grievances about nan receipt of the journals only
after this period.
SUBSCRIPTloN-RELATED DETAILS : Page 61
Let noble thoughts come to us from all sides.
RIg Veda
Since 1957
IN THIS  ISSUE
PUBLIC FINANCE ANIl
l]EVELOPMENT: EVALllATI0N 0F
iNI]IA's Biil]GETAnv pnlonlTIEs
Dr Sajjan Singh Yadav
IN[LiislvE HUMAN nEsoim[E
I]EVELOPMENTANl]SO[IAL|lJSTI[E
Sanjib Pohit
Souryabrata Mohapatra
A HEW [HAPTER IN INDIA'S
EMPLoyMENT sTony
Ramesh Krishnamurthy
sALAnlEI] [LAss ANi] [ONsiiMms:
KEY TO VIKSIT BHARAT
Shishir Sinha
i"oDUITlvlTy ANi] nEsiLIEN[E iN
AGni[uLTimE
Dr Jagdeep Saxena
A DEVELOPMENT MONTHLY
INNOVATIOIl, RESEAR(H AMP
DrvELOpMEMT
Sachin Chaturvedi
ENERGY SE(URITY
Dr S C Lahiry
FOSTERING INFRASTRufluRE
DEVELOpMENT IN iNI]IA THnouGH
FISCAL INTEIVENTI0NS
Dr Amiya Kumar Mohapatra
Focus oN THE MANUFACTimiNG
ANI] sEnvl[Es sECTons
Dr Ranjeet Mehta
INDUSTRY PERSPEFTIVE ON
MAHUFAFTURiNG e ioBs (REATIOM
Jyoti ViJ.
Number of pages: 64
Details of the Sales Outlets of the Publications Division on Page 45
YOJANA  is  published  in  Assamese,  Bengali,  English,  Gujarati,  Hindi,  Kannada,  Malayalam,  Marathi,  Odia,
Punjabi, Tamil, Telugu, and Urdu.
Towards a Viksit Bharat
As  India embarks on  its journey towards becoming a 'Vi.k57.f Bharar by  2047,  the  Golden  Era  -  Karfclvya  KacJ/  signifies  a  period  of
responsibility   and   action.  The   Union   Budget   2024-25   lays   out   a
comprehensive  roadmap  for  the  growth  and  development  of  the
manufacturing  and  services  sectors,  recognising  their  pivotal  role  in
driving economic growth and employment. The budget is focused on
four major groups: Gc7r/.b (poor), Mahi./acryen (women), yqwa ( youth) and
Annadata (farmers).
Initiatives   like  SAMAfl7TJ  Udyog  Bharaf  4.0  and  the   Production
Linked Incentive (PLl) scheme aim to boost the manufacturing sector's
competitiveness and increase its share of GDP to 25 per cent by 2025.
The shift towards automated and process-driven manufacturing is a step
in the right direction, enabling India to become a global manufacturing
hub. A comprehensive skill development initiative aims to empower approximately 2 million youth over
a  five-year  period. This  endeavour  involves  the  upgrading  of  1,000  Industrial Training  Institutes  (lTls)
through  a  hub-and-spoke  model,  prioritising  outcome-based  training  to  enhance  employability  and
industry readiness. Course content and design are aligned with the skill needs of the industry.
The services sector contributes over 50 per cent to lndia's GDP and is poised for growth. Focussing on
digital technologies and institutional frameworks has created an environment conducive to the sector's
expansion. Initiatives like Smart Cities, Clean India and Digital India have fostered a culture of innovation,
enabling the services sector to experience double-digit growth in recent years.
The Union Budget 2024-25 reinforces the commitment to the growth of these sectors, with a focus on
nine priority areas, including manufacturing and services. The budget aims to stimulate rural economic
development and promote Micro, Small, and Medium Enterprises (MSMEs). A comprehensive package has
been introduced to support MSMEs, including financing, regulatory changes, and technology support.
The synergy between manufacturing and services will be crucial as India navigates its journey towards
becoming  a  developed  nation.  Integrating  logistics, financial services, and a  robust startup ecosystem
will create a dynamic and resilient economy. The emphasis on digital infrastructure, digital literacy, and
the integration of manufacturing and services aims to build a dynamic economy that fosters innovation,
growth, and prosperity for all citizens.
The  Union  Budget  2024-25  charts  a  promising  course  for  lndia's  economic  growth,  emphasising
manufacturing, services, and digital technologies. While the initiatives hold potential for driving growth
and employment, their success hinges on effective implementation and navigating potential headwinds.
As we embark on this journey, it's crucial to remain vigilant and adapt to emerging challenges, ensuring
that the benefits of growth are equitably shared and the digital divide is bridged. By doing so, we can
harness the opportunities presented by this budget and pave the way for a resilient and inclusive growth
trajectory, illuminating a brighter future for all Indians.
In the current issue of Yojana, we delve into the intricacies of the Union Budget 2024-25, presenting
a compendium of erudite articles from distinguished subject-matter experts, academics, and specialists
in their respective fields of work. Through their insightful analyses and nuanced perspectives, we aim to
provide readers with a comprehensive understanding of the budget's implications and potential impact on
the nation's socio-economic landscape.  I
YOJANA SEPTEMBER 2024
Page 4


SEPTEMBER 2024
A DEVELOPMENT MONTHLY
CHIEF  EDITOR
KULSHRESTHA KAMAL
EDITOR
SHU(HITA [HATURVEDI
OuR REPRESENTATIVES
Ahmedabad: JS Patel, Bengaluru: Shahid T Komath,
Bhubaneswar:  Manoj  Kumar Jali,  Chennai:  Sanjay
Ghosh,     Guwahati:     Maruf    Alam,     Hyderabad:
Krishna   Vandana   P,  Jalandhar:   Gagandeep   Kaur
E-mail (Editorial): sec-yojanaeng-moib@gov.in
YO}ANA, a development monthly published since
1957,  is a theme-based journal providing in-depth
analyses  and  views  on  socio-economic  issues  in
the  broader  framework  of  government  policies.
Although  published by the  Ministry of Information
and   Broadcasting,  Y0jANA  is  not  restricted  to
expressing the official point of view.
DISCLAIMER
•  The   views   expressed   in   various   articles   are
those of the authors and they do not necessarily
refoect  the  views  Of  the  Government  or  the
organisation/s they work for.
•   Maps/flags used in the articles are only indicative
and they do not refoect the political map or legal
representation  of  the  foag  Of  India/any  other
Country.
•  The  .Infographics/figures  are  `provided  by  the
authors   through   their   reliable   sources   and
YC}]AINAclaims no respohsibility for the same.
•   Images,   graphics   and   illustrations,   wherever
used,   are   mostly   sour:ed   from   government
channels and are indicative in nature.
•  YO|AINALdoes not own responsibility regarding
the contents Of th.e advertisements. The readers
are  requested to verify the claims made in the
advertisements     regarding     courses,     career-
± guidance books or institutions.
•  YOJAENA  doesn't  endorse  or  promote  any
brands  or  private  entities  presented  as  case
studies in any of the articles.
SuBSCRIPTION/GRIEVANCES
Email: pdjucir@gmail.com
Phone: 011-24367453
(Monday-Friday, 9:30 am-6:00 pin)
Postal  Address:  Abhishek  Chaturvedi,  Editor,
Journals  Unit,  Publications  Division,  Room  No.
779,   Soochna   Bhawan,   CGO   Complex,   Lodhi
Road, New Delhi-110 003.
please note that it will take atleast eight weeks to
start your subscription.  Kindly  raise your queries/
grievances about nan receipt of the journals only
after this period.
SUBSCRIPTloN-RELATED DETAILS : Page 61
Let noble thoughts come to us from all sides.
RIg Veda
Since 1957
IN THIS  ISSUE
PUBLIC FINANCE ANIl
l]EVELOPMENT: EVALllATI0N 0F
iNI]IA's Biil]GETAnv pnlonlTIEs
Dr Sajjan Singh Yadav
IN[LiislvE HUMAN nEsoim[E
I]EVELOPMENTANl]SO[IAL|lJSTI[E
Sanjib Pohit
Souryabrata Mohapatra
A HEW [HAPTER IN INDIA'S
EMPLoyMENT sTony
Ramesh Krishnamurthy
sALAnlEI] [LAss ANi] [ONsiiMms:
KEY TO VIKSIT BHARAT
Shishir Sinha
i"oDUITlvlTy ANi] nEsiLIEN[E iN
AGni[uLTimE
Dr Jagdeep Saxena
A DEVELOPMENT MONTHLY
INNOVATIOIl, RESEAR(H AMP
DrvELOpMEMT
Sachin Chaturvedi
ENERGY SE(URITY
Dr S C Lahiry
FOSTERING INFRASTRufluRE
DEVELOpMENT IN iNI]IA THnouGH
FISCAL INTEIVENTI0NS
Dr Amiya Kumar Mohapatra
Focus oN THE MANUFACTimiNG
ANI] sEnvl[Es sECTons
Dr Ranjeet Mehta
INDUSTRY PERSPEFTIVE ON
MAHUFAFTURiNG e ioBs (REATIOM
Jyoti ViJ.
Number of pages: 64
Details of the Sales Outlets of the Publications Division on Page 45
YOJANA  is  published  in  Assamese,  Bengali,  English,  Gujarati,  Hindi,  Kannada,  Malayalam,  Marathi,  Odia,
Punjabi, Tamil, Telugu, and Urdu.
Towards a Viksit Bharat
As  India embarks on  its journey towards becoming a 'Vi.k57.f Bharar by  2047,  the  Golden  Era  -  Karfclvya  KacJ/  signifies  a  period  of
responsibility   and   action.  The   Union   Budget   2024-25   lays   out   a
comprehensive  roadmap  for  the  growth  and  development  of  the
manufacturing  and  services  sectors,  recognising  their  pivotal  role  in
driving economic growth and employment. The budget is focused on
four major groups: Gc7r/.b (poor), Mahi./acryen (women), yqwa ( youth) and
Annadata (farmers).
Initiatives   like  SAMAfl7TJ  Udyog  Bharaf  4.0  and  the   Production
Linked Incentive (PLl) scheme aim to boost the manufacturing sector's
competitiveness and increase its share of GDP to 25 per cent by 2025.
The shift towards automated and process-driven manufacturing is a step
in the right direction, enabling India to become a global manufacturing
hub. A comprehensive skill development initiative aims to empower approximately 2 million youth over
a  five-year  period. This  endeavour  involves  the  upgrading  of  1,000  Industrial Training  Institutes  (lTls)
through  a  hub-and-spoke  model,  prioritising  outcome-based  training  to  enhance  employability  and
industry readiness. Course content and design are aligned with the skill needs of the industry.
The services sector contributes over 50 per cent to lndia's GDP and is poised for growth. Focussing on
digital technologies and institutional frameworks has created an environment conducive to the sector's
expansion. Initiatives like Smart Cities, Clean India and Digital India have fostered a culture of innovation,
enabling the services sector to experience double-digit growth in recent years.
The Union Budget 2024-25 reinforces the commitment to the growth of these sectors, with a focus on
nine priority areas, including manufacturing and services. The budget aims to stimulate rural economic
development and promote Micro, Small, and Medium Enterprises (MSMEs). A comprehensive package has
been introduced to support MSMEs, including financing, regulatory changes, and technology support.
The synergy between manufacturing and services will be crucial as India navigates its journey towards
becoming  a  developed  nation.  Integrating  logistics, financial services, and a  robust startup ecosystem
will create a dynamic and resilient economy. The emphasis on digital infrastructure, digital literacy, and
the integration of manufacturing and services aims to build a dynamic economy that fosters innovation,
growth, and prosperity for all citizens.
The  Union  Budget  2024-25  charts  a  promising  course  for  lndia's  economic  growth,  emphasising
manufacturing, services, and digital technologies. While the initiatives hold potential for driving growth
and employment, their success hinges on effective implementation and navigating potential headwinds.
As we embark on this journey, it's crucial to remain vigilant and adapt to emerging challenges, ensuring
that the benefits of growth are equitably shared and the digital divide is bridged. By doing so, we can
harness the opportunities presented by this budget and pave the way for a resilient and inclusive growth
trajectory, illuminating a brighter future for all Indians.
In the current issue of Yojana, we delve into the intricacies of the Union Budget 2024-25, presenting
a compendium of erudite articles from distinguished subject-matter experts, academics, and specialists
in their respective fields of work. Through their insightful analyses and nuanced perspectives, we aim to
provide readers with a comprehensive understanding of the budget's implications and potential impact on
the nation's socio-economic landscape.  I
YOJANA SEPTEMBER 2024
PlmlEo [Enanoe anil nouelonliiolil:
skilling, MSME support, and balanced regional development. Key initiatives
include transforming agriculture for climate resilience, promoting natural
farming, and achieving self-sufficiency in pulses and oilseeds. The budget also
focuses on urban development, energy security, infrastructure investment,
and next-generation reforms to drive inclusive economic growth[
ril
n  23  July  2024,  Finance  Minister  Smt
Nirmala  Sitharaman  made  history  by
presenting   her   seventh   consecutive
Union  Budget  in  Parliament. The core
of  the   2024-25   budget  focusses   on   the   `GCJr/.b'
(poor),  `Mch/./cJc7yen'  (women),  `yuvcJ'  (youth),  and
`Annadc7fa' (farmer). Key areas of emphasis include
employment generation, skilling, Micro, Small, and
Medium Enterprises (MSMEs), and the middle class.
The budget proposals aim to create a virtuous cycle
of  economic  growth   and   employment,   provide
ample   opportunities   for   all,   facilitate   balanced
regional    development,   and    benefit   the    most
vulnerable sections of society.
To    achieve    these    objectives,    the    Finance
Minister   highlighted   nine   priority   areas   in   her
speech:  productivity  and  resilience  in  agriculture;
employment and skilling; inclusive human resource
development   and   social   justice;   manufacturing
and      services;      urban      development;     energy
YOJANA SEPTEMBER 2024
Page 5


SEPTEMBER 2024
A DEVELOPMENT MONTHLY
CHIEF  EDITOR
KULSHRESTHA KAMAL
EDITOR
SHU(HITA [HATURVEDI
OuR REPRESENTATIVES
Ahmedabad: JS Patel, Bengaluru: Shahid T Komath,
Bhubaneswar:  Manoj  Kumar Jali,  Chennai:  Sanjay
Ghosh,     Guwahati:     Maruf    Alam,     Hyderabad:
Krishna   Vandana   P,  Jalandhar:   Gagandeep   Kaur
E-mail (Editorial): sec-yojanaeng-moib@gov.in
YO}ANA, a development monthly published since
1957,  is a theme-based journal providing in-depth
analyses  and  views  on  socio-economic  issues  in
the  broader  framework  of  government  policies.
Although  published by the  Ministry of Information
and   Broadcasting,  Y0jANA  is  not  restricted  to
expressing the official point of view.
DISCLAIMER
•  The   views   expressed   in   various   articles   are
those of the authors and they do not necessarily
refoect  the  views  Of  the  Government  or  the
organisation/s they work for.
•   Maps/flags used in the articles are only indicative
and they do not refoect the political map or legal
representation  of  the  foag  Of  India/any  other
Country.
•  The  .Infographics/figures  are  `provided  by  the
authors   through   their   reliable   sources   and
YC}]AINAclaims no respohsibility for the same.
•   Images,   graphics   and   illustrations,   wherever
used,   are   mostly   sour:ed   from   government
channels and are indicative in nature.
•  YO|AINALdoes not own responsibility regarding
the contents Of th.e advertisements. The readers
are  requested to verify the claims made in the
advertisements     regarding     courses,     career-
± guidance books or institutions.
•  YOJAENA  doesn't  endorse  or  promote  any
brands  or  private  entities  presented  as  case
studies in any of the articles.
SuBSCRIPTION/GRIEVANCES
Email: pdjucir@gmail.com
Phone: 011-24367453
(Monday-Friday, 9:30 am-6:00 pin)
Postal  Address:  Abhishek  Chaturvedi,  Editor,
Journals  Unit,  Publications  Division,  Room  No.
779,   Soochna   Bhawan,   CGO   Complex,   Lodhi
Road, New Delhi-110 003.
please note that it will take atleast eight weeks to
start your subscription.  Kindly  raise your queries/
grievances about nan receipt of the journals only
after this period.
SUBSCRIPTloN-RELATED DETAILS : Page 61
Let noble thoughts come to us from all sides.
RIg Veda
Since 1957
IN THIS  ISSUE
PUBLIC FINANCE ANIl
l]EVELOPMENT: EVALllATI0N 0F
iNI]IA's Biil]GETAnv pnlonlTIEs
Dr Sajjan Singh Yadav
IN[LiislvE HUMAN nEsoim[E
I]EVELOPMENTANl]SO[IAL|lJSTI[E
Sanjib Pohit
Souryabrata Mohapatra
A HEW [HAPTER IN INDIA'S
EMPLoyMENT sTony
Ramesh Krishnamurthy
sALAnlEI] [LAss ANi] [ONsiiMms:
KEY TO VIKSIT BHARAT
Shishir Sinha
i"oDUITlvlTy ANi] nEsiLIEN[E iN
AGni[uLTimE
Dr Jagdeep Saxena
A DEVELOPMENT MONTHLY
INNOVATIOIl, RESEAR(H AMP
DrvELOpMEMT
Sachin Chaturvedi
ENERGY SE(URITY
Dr S C Lahiry
FOSTERING INFRASTRufluRE
DEVELOpMENT IN iNI]IA THnouGH
FISCAL INTEIVENTI0NS
Dr Amiya Kumar Mohapatra
Focus oN THE MANUFACTimiNG
ANI] sEnvl[Es sECTons
Dr Ranjeet Mehta
INDUSTRY PERSPEFTIVE ON
MAHUFAFTURiNG e ioBs (REATIOM
Jyoti ViJ.
Number of pages: 64
Details of the Sales Outlets of the Publications Division on Page 45
YOJANA  is  published  in  Assamese,  Bengali,  English,  Gujarati,  Hindi,  Kannada,  Malayalam,  Marathi,  Odia,
Punjabi, Tamil, Telugu, and Urdu.
Towards a Viksit Bharat
As  India embarks on  its journey towards becoming a 'Vi.k57.f Bharar by  2047,  the  Golden  Era  -  Karfclvya  KacJ/  signifies  a  period  of
responsibility   and   action.  The   Union   Budget   2024-25   lays   out   a
comprehensive  roadmap  for  the  growth  and  development  of  the
manufacturing  and  services  sectors,  recognising  their  pivotal  role  in
driving economic growth and employment. The budget is focused on
four major groups: Gc7r/.b (poor), Mahi./acryen (women), yqwa ( youth) and
Annadata (farmers).
Initiatives   like  SAMAfl7TJ  Udyog  Bharaf  4.0  and  the   Production
Linked Incentive (PLl) scheme aim to boost the manufacturing sector's
competitiveness and increase its share of GDP to 25 per cent by 2025.
The shift towards automated and process-driven manufacturing is a step
in the right direction, enabling India to become a global manufacturing
hub. A comprehensive skill development initiative aims to empower approximately 2 million youth over
a  five-year  period. This  endeavour  involves  the  upgrading  of  1,000  Industrial Training  Institutes  (lTls)
through  a  hub-and-spoke  model,  prioritising  outcome-based  training  to  enhance  employability  and
industry readiness. Course content and design are aligned with the skill needs of the industry.
The services sector contributes over 50 per cent to lndia's GDP and is poised for growth. Focussing on
digital technologies and institutional frameworks has created an environment conducive to the sector's
expansion. Initiatives like Smart Cities, Clean India and Digital India have fostered a culture of innovation,
enabling the services sector to experience double-digit growth in recent years.
The Union Budget 2024-25 reinforces the commitment to the growth of these sectors, with a focus on
nine priority areas, including manufacturing and services. The budget aims to stimulate rural economic
development and promote Micro, Small, and Medium Enterprises (MSMEs). A comprehensive package has
been introduced to support MSMEs, including financing, regulatory changes, and technology support.
The synergy between manufacturing and services will be crucial as India navigates its journey towards
becoming  a  developed  nation.  Integrating  logistics, financial services, and a  robust startup ecosystem
will create a dynamic and resilient economy. The emphasis on digital infrastructure, digital literacy, and
the integration of manufacturing and services aims to build a dynamic economy that fosters innovation,
growth, and prosperity for all citizens.
The  Union  Budget  2024-25  charts  a  promising  course  for  lndia's  economic  growth,  emphasising
manufacturing, services, and digital technologies. While the initiatives hold potential for driving growth
and employment, their success hinges on effective implementation and navigating potential headwinds.
As we embark on this journey, it's crucial to remain vigilant and adapt to emerging challenges, ensuring
that the benefits of growth are equitably shared and the digital divide is bridged. By doing so, we can
harness the opportunities presented by this budget and pave the way for a resilient and inclusive growth
trajectory, illuminating a brighter future for all Indians.
In the current issue of Yojana, we delve into the intricacies of the Union Budget 2024-25, presenting
a compendium of erudite articles from distinguished subject-matter experts, academics, and specialists
in their respective fields of work. Through their insightful analyses and nuanced perspectives, we aim to
provide readers with a comprehensive understanding of the budget's implications and potential impact on
the nation's socio-economic landscape.  I
YOJANA SEPTEMBER 2024
PlmlEo [Enanoe anil nouelonliiolil:
skilling, MSME support, and balanced regional development. Key initiatives
include transforming agriculture for climate resilience, promoting natural
farming, and achieving self-sufficiency in pulses and oilseeds. The budget also
focuses on urban development, energy security, infrastructure investment,
and next-generation reforms to drive inclusive economic growth[
ril
n  23  July  2024,  Finance  Minister  Smt
Nirmala  Sitharaman  made  history  by
presenting   her   seventh   consecutive
Union  Budget  in  Parliament. The core
of  the   2024-25   budget  focusses   on   the   `GCJr/.b'
(poor),  `Mch/./cJc7yen'  (women),  `yuvcJ'  (youth),  and
`Annadc7fa' (farmer). Key areas of emphasis include
employment generation, skilling, Micro, Small, and
Medium Enterprises (MSMEs), and the middle class.
The budget proposals aim to create a virtuous cycle
of  economic  growth   and   employment,   provide
ample   opportunities   for   all,   facilitate   balanced
regional    development,   and    benefit   the    most
vulnerable sections of society.
To    achieve    these    objectives,    the    Finance
Minister   highlighted   nine   priority   areas   in   her
speech:  productivity  and  resilience  in  agriculture;
employment and skilling; inclusive human resource
development   and   social   justice;   manufacturing
and      services;      urban      development;     energy
YOJANA SEPTEMBER 2024
Employment & §killing
scheme A: First Timers
a   Direct benefit transfer of 1-month solory
in 3 installments up to = 15,000 to
first-time employees registered in EPFO
scheme 8: Job Creation in Manufacturing
o   Incentive to be provided directly to both employee
and employer os per their EPF0 contribution, in
the first 4 years of employment
Scheme €: Su|]F)art to Employers
a   Reimbursement to employers up to { 3,000 p
towards their EPFO Contribution for eo[h oddi
th for 2 yecirs
security;  infrastructure;  innovation,  researc
development;  and  next  generation  reforms.  Let's
discuss and evaluate these nine priorities.
Priority    1:    Productivity    and    Resilience    in
Agriculture
Agriculture  plays  a  pivotal  role  in  the  Indian
economy,   providing   livelihood   support  to  42.3
per cent of the  population  and  contributing  18.2
per  cent  to  the  country's  GDP.   Recognising   its
critical importance, the budget rightly focusses on
transforming  lndia's  agricultural  sector  to  ensure
food security, enhance farmers' income, and make
agriculture    more    productive,    sustainable,    and
resilient  to  climate  change.  The  agriculture  and
allied sectors have received a generous allocation
of Rs  1.52  lakh crore in the budget.  Key initiatives
announced to enhance productivity and resilience
in agriculture are as follows:
i.     Transforming         Agricultural         Research:
Achieving    a    quantum    leap    in    agricultural
productivity   requires   transforming   research
to enhance productivity and develop climate-
resilient varieties. The government has decided
to   comprehensively   revamp   the   country's
agricultural   research  setup.  The  budget  also
proposes   to   provide   funds   for   agricultural
research   in  a  challenge  mode  for  both  the
public and private sectors. Additionally, it aims
to provide 109 new, high-yielding, and climate-
resilient  varieties  of  32  field  and  horticultural
crops to farmers.
ii.   Promotion    of    Natural    Farming:    Natural
farrhiing,  or  Bhartiya  Prakratik  Krishi  Paddhati,
is rooted in Indian tradition and relies on desi-
cows and  locally available  resources, avoiding
chemical fertilisers and pesticides. It is climate-
resilient, cost-effective, rejuvenates soil health,
reduces   water   requirements,   and   produces
safe and healthy food. The budget proposes to
initiate and  support one  crore farmers  across
the  country  in  natural  farming  over the  next
two years, setting  up  10,000  need-based  bio-
input resource centres and supporting farmers
through certification and branding.
ii.  Self-Sufficiency    in    Pulses    and    Oilseeds
Production:      Pulses     are     environmentally
friendly  crops  that  put  minimal  pressure  on
natural resources and fix atmospheric nitrogen
in the soil.They are also crucial for nutrition and
health. Currently, there  is a  gap of 4.4  million
tonnes   between   the   demand   and   supply
of   pu.Ises,   met   by   imports.   Similarly,   India
I
heavily depends on imports to meet its edible
oil    requirements.   The    budget    emphasises
achieving   self-sufficiency   in   the   production
of pulses and  oilseeds  by strengthening  their
production, storage, and marketing.
iv.  Vegetable  Production  and  Supply  Chains:
India,  with   a   production  of  256  MT  (Metric
Tonnes), is the second-largest producer of fruits
and  vegetables  globally.  However,  significant
post-harvest   losses   occur  due  to   inefficient
supply     chains,      inadequate      infrastructure,
transportation issues, and poor market linkages.
To    address    these    challenges,    the    Finance
Minister announced plans to develop large-scale
clusters  for  vegetable  production  near  major
consumption   centres   and    promote    Farmer
Producer   Organisations   (FPOs),   cooperatives,
and startups for vegetable supply chains.
v.    Digital public.nfrastructure for Agriculture:
Digital   Public  Infrastructure  (Dpl)  will   enable
the development of innovative, farmer-centric
solutions and  services to  improve agricultural
productivity  and   profitability.  It  will  assist  in
providing   relevant   information   services   on
crop   planning   and   health,   improve   access
to  farm  inputs,  credit,  and  insurance,  aid  in
crop  estimation  and  market  intelligence,  and
support the  growth  of the  Agri-Tech  industry
SEPTEMBER 2024 YOJANA