Union Budget 2024 Overview
The Union Budget 2024, presented by the Finance Minister, aims to drive economic growth and improve the overall fiscal health of India. It reflects the government's priorities in various sectors and is crucial for shaping the country’s economic landscape.
Key Highlights
- Fiscal Deficit Target: The budget aims to reduce the fiscal deficit to 5.9% of GDP, focusing on prudent financial management.
- Tax Reforms: Introduction of new tax slabs and relief for middle-class taxpayers to boost disposable income.
- Public Investment: Increased allocation for infrastructure development, especially in rural areas, to stimulate job creation.
Sectoral Allocations
- Health: Enhanced funding for healthcare initiatives, including mental health and wellness programs.
- Education: Significant investment in skill development and digital education to prepare the workforce for the future.
- Agriculture: Support for farmers through direct income support and investment in irrigation projects.
Social Welfare Programs
- Women Empowerment: Initiatives aimed at promoting women in the workforce, including entrepreneurship programs.
- Social Security: Expansion of social security schemes to cover more vulnerable populations.
Green Initiatives
- Sustainability: Funding for renewable energy projects and incentives for electric vehicles to combat climate change.
- Clean India Mission: Continued investment in sanitation and hygiene projects across urban and rural areas.
Conclusion
The Union Budget 2024 is a comprehensive plan aimed at fostering economic resilience, enhancing social equity, and ensuring sustainable development. The policies outlined are critical for India’s progress in the coming years.