Summary of Interim Union Budget 2024-25: PIB | Indian Economy for UPSC CSE PDF Download

 Page 1


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Ministry of Finance
SUMMARY OF THE INTERIM UNION BUDGET
2024-25
INDIA’S REAL GDP PROJECTED TO GROW AT
7.3 PER CENT IN FY 2023-24
FINANCE AND CORPORATE AFFAIRS
MINISTER SMT NIRMALA SITHARAMAN
PRESENTS THE INTERIM UNION BUDGET
FOR 2024-2025 IN PARLIAMENT
CAPITAL EXPENDITURE OUTLAY FOR THE
NEXT YEAR IS BEING INCREASED BY 11.1
PER CENT TO RS 11,11,111 CRORE, WHICH
WOULD BE 3.4 PER CENT OF THE GDP
FISCAL DEFICIT IN 2024-25 IS ESTIMATED TO
BE 5.1 PER CENT OF GDP
FDI INFLOW DURING 2014-23 WAS USD 596
BILLION, WHICH IS TWICE THE INFLOW
DURING 2005-14.
UPLIFTMENT OF ‘GARIB’ (POOR),
‘MAHILAYEN’ (WOMEN), ‘YUVA’ (YOUTH) AND
‘ANNADATA’(FARMER) IS THE HIGHEST
PRIORITY OF GOVERNMENT
Page 2


?
Ministry of Finance
SUMMARY OF THE INTERIM UNION BUDGET
2024-25
INDIA’S REAL GDP PROJECTED TO GROW AT
7.3 PER CENT IN FY 2023-24
FINANCE AND CORPORATE AFFAIRS
MINISTER SMT NIRMALA SITHARAMAN
PRESENTS THE INTERIM UNION BUDGET
FOR 2024-2025 IN PARLIAMENT
CAPITAL EXPENDITURE OUTLAY FOR THE
NEXT YEAR IS BEING INCREASED BY 11.1
PER CENT TO RS 11,11,111 CRORE, WHICH
WOULD BE 3.4 PER CENT OF THE GDP
FISCAL DEFICIT IN 2024-25 IS ESTIMATED TO
BE 5.1 PER CENT OF GDP
FDI INFLOW DURING 2014-23 WAS USD 596
BILLION, WHICH IS TWICE THE INFLOW
DURING 2005-14.
UPLIFTMENT OF ‘GARIB’ (POOR),
‘MAHILAYEN’ (WOMEN), ‘YUVA’ (YOUTH) AND
‘ANNADATA’(FARMER) IS THE HIGHEST
PRIORITY OF GOVERNMENT
A CORPUS OF RUPEES ONE LAKH CRORE
WILL BE ESTABLISHED WITH
FIFTY-YEAR INTEREST FREE LOAN FOR
YOUTH
SCHEME OF 50 YEAR INTEREST FREE LOAN
FOR CAPEX TO STATES WILL BE
CONTINUED THIS YEAR WITH TOTAL
OUTLAY OF RS 1.3 LAKH CRORE.
GOVERNMENT IS WORKING WITH AN
APPROACH TO DEVELOPMENT THAT IS ALL-
ROUND, ALL-PERVASIVE AND ALL-
INCLUSIVE ( ???  ?? ?, ? ?   ? ?? ??  ???? ? ??)
THE BUDGET CONTAINES A NUMBER OF
ANNOUNCEMENTS AND STRATEGIES
INDICATING DIRECTIONS AND
DEVELOPMENT APPROACH FOR MAKING
INDIA VIKSIT BHARAT BY 2047
GOVERNMENT WILL PAY UTMOST
ATTENTION TO MAKE THE EASTERN
REGION AND ITS PEOPLE A POWERFUL
DRIVER OF INDIA’S GROWTH
GOVERNMENT WILL FORM A HIGH-
POWERED COMMITTEE FOR AN EXTENSIVE
CONSIDERATION OF THE CHALLENGES
Page 3


?
Ministry of Finance
SUMMARY OF THE INTERIM UNION BUDGET
2024-25
INDIA’S REAL GDP PROJECTED TO GROW AT
7.3 PER CENT IN FY 2023-24
FINANCE AND CORPORATE AFFAIRS
MINISTER SMT NIRMALA SITHARAMAN
PRESENTS THE INTERIM UNION BUDGET
FOR 2024-2025 IN PARLIAMENT
CAPITAL EXPENDITURE OUTLAY FOR THE
NEXT YEAR IS BEING INCREASED BY 11.1
PER CENT TO RS 11,11,111 CRORE, WHICH
WOULD BE 3.4 PER CENT OF THE GDP
FISCAL DEFICIT IN 2024-25 IS ESTIMATED TO
BE 5.1 PER CENT OF GDP
FDI INFLOW DURING 2014-23 WAS USD 596
BILLION, WHICH IS TWICE THE INFLOW
DURING 2005-14.
UPLIFTMENT OF ‘GARIB’ (POOR),
‘MAHILAYEN’ (WOMEN), ‘YUVA’ (YOUTH) AND
‘ANNADATA’(FARMER) IS THE HIGHEST
PRIORITY OF GOVERNMENT
A CORPUS OF RUPEES ONE LAKH CRORE
WILL BE ESTABLISHED WITH
FIFTY-YEAR INTEREST FREE LOAN FOR
YOUTH
SCHEME OF 50 YEAR INTEREST FREE LOAN
FOR CAPEX TO STATES WILL BE
CONTINUED THIS YEAR WITH TOTAL
OUTLAY OF RS 1.3 LAKH CRORE.
GOVERNMENT IS WORKING WITH AN
APPROACH TO DEVELOPMENT THAT IS ALL-
ROUND, ALL-PERVASIVE AND ALL-
INCLUSIVE ( ???  ?? ?, ? ?   ? ?? ??  ???? ? ??)
THE BUDGET CONTAINES A NUMBER OF
ANNOUNCEMENTS AND STRATEGIES
INDICATING DIRECTIONS AND
DEVELOPMENT APPROACH FOR MAKING
INDIA VIKSIT BHARAT BY 2047
GOVERNMENT WILL PAY UTMOST
ATTENTION TO MAKE THE EASTERN
REGION AND ITS PEOPLE A POWERFUL
DRIVER OF INDIA’S GROWTH
GOVERNMENT WILL FORM A HIGH-
POWERED COMMITTEE FOR AN EXTENSIVE
CONSIDERATION OF THE CHALLENGES
ARISING FROM FAST POPULATION GROWTH
AND DEMOGRAPHIC CHANGES
NO CHANGE PROPOSED IN TAX RATES IN
THE INTERIM BUDGET
ABOUT ONE CRORE TAX PAYERS EXPECTED
TO BENEFIT FROM WITHDRAWAL OF
CERTAIN PETTY AND DISPUTED DIRECT TAX
DEMANDS
GOVERNMENT TO LAY WHITE PAPER ON
INDIAN ECONOMY NOW AND THEN
Posted On: 01 FEB 2024 12:55PM by PIB Delhi
PART-A SUMMARY
The Finance and Corporate Affairs Minister Smt Nirmala Sitharaman, while presenting the Interim
Union Budget for 2024-2025 in Parliament today announced that the capital expenditure outlay for
the next year is being increased by 11.1 per cent to Rs 11,11,111 crore, which would be  3.4 per cent
of the GDP.
She said, this is in the wake of building on the massive tripling of the capital expenditure outlay in
the past 4 years resulting in huge multiplier impact on economic growth and employment creation.
As per the First Advance Estimates of National Income of FY 2023-24, presented along with the
Finance Minister’s speech, India’s Real GDP is projected to grow at 7.3 per cent. This is also in line
with the upward revision in growth projections for FY2023-24 by the RBI (in its December 2023
Monetary Policy Committee meeting) from 6.5 per cent to 7 per cent, prompted by strong growth in
Q2 of FY2023-24.
Indian economy has demonstrated resilience and maintained healthy macro-economic fundamentals,
despite global economic challenges. The International Monetary Fund (IMF), in its World Economic
Outlook (WEO), October 2023, has revised its growth projection for India for FY2023-24 upwards to
6.3 per cent from 6.1 per cent projected in July 2023. This reflects increasing global confidence in
India’s economic prowess at a time when global growth projection for 2023 remains unchanged at 3
per cent.
As per the IMF, India is likely to become the third-largest economy in 2027 (in USD at market
exchange rate) and it also estimated that India’s contribution to global growth will rise by 200 basis
points in 5 years. Moreover, various international agencies such as the World Bank, the IMF, OECD
Page 4


?
Ministry of Finance
SUMMARY OF THE INTERIM UNION BUDGET
2024-25
INDIA’S REAL GDP PROJECTED TO GROW AT
7.3 PER CENT IN FY 2023-24
FINANCE AND CORPORATE AFFAIRS
MINISTER SMT NIRMALA SITHARAMAN
PRESENTS THE INTERIM UNION BUDGET
FOR 2024-2025 IN PARLIAMENT
CAPITAL EXPENDITURE OUTLAY FOR THE
NEXT YEAR IS BEING INCREASED BY 11.1
PER CENT TO RS 11,11,111 CRORE, WHICH
WOULD BE 3.4 PER CENT OF THE GDP
FISCAL DEFICIT IN 2024-25 IS ESTIMATED TO
BE 5.1 PER CENT OF GDP
FDI INFLOW DURING 2014-23 WAS USD 596
BILLION, WHICH IS TWICE THE INFLOW
DURING 2005-14.
UPLIFTMENT OF ‘GARIB’ (POOR),
‘MAHILAYEN’ (WOMEN), ‘YUVA’ (YOUTH) AND
‘ANNADATA’(FARMER) IS THE HIGHEST
PRIORITY OF GOVERNMENT
A CORPUS OF RUPEES ONE LAKH CRORE
WILL BE ESTABLISHED WITH
FIFTY-YEAR INTEREST FREE LOAN FOR
YOUTH
SCHEME OF 50 YEAR INTEREST FREE LOAN
FOR CAPEX TO STATES WILL BE
CONTINUED THIS YEAR WITH TOTAL
OUTLAY OF RS 1.3 LAKH CRORE.
GOVERNMENT IS WORKING WITH AN
APPROACH TO DEVELOPMENT THAT IS ALL-
ROUND, ALL-PERVASIVE AND ALL-
INCLUSIVE ( ???  ?? ?, ? ?   ? ?? ??  ???? ? ??)
THE BUDGET CONTAINES A NUMBER OF
ANNOUNCEMENTS AND STRATEGIES
INDICATING DIRECTIONS AND
DEVELOPMENT APPROACH FOR MAKING
INDIA VIKSIT BHARAT BY 2047
GOVERNMENT WILL PAY UTMOST
ATTENTION TO MAKE THE EASTERN
REGION AND ITS PEOPLE A POWERFUL
DRIVER OF INDIA’S GROWTH
GOVERNMENT WILL FORM A HIGH-
POWERED COMMITTEE FOR AN EXTENSIVE
CONSIDERATION OF THE CHALLENGES
ARISING FROM FAST POPULATION GROWTH
AND DEMOGRAPHIC CHANGES
NO CHANGE PROPOSED IN TAX RATES IN
THE INTERIM BUDGET
ABOUT ONE CRORE TAX PAYERS EXPECTED
TO BENEFIT FROM WITHDRAWAL OF
CERTAIN PETTY AND DISPUTED DIRECT TAX
DEMANDS
GOVERNMENT TO LAY WHITE PAPER ON
INDIAN ECONOMY NOW AND THEN
Posted On: 01 FEB 2024 12:55PM by PIB Delhi
PART-A SUMMARY
The Finance and Corporate Affairs Minister Smt Nirmala Sitharaman, while presenting the Interim
Union Budget for 2024-2025 in Parliament today announced that the capital expenditure outlay for
the next year is being increased by 11.1 per cent to Rs 11,11,111 crore, which would be  3.4 per cent
of the GDP.
She said, this is in the wake of building on the massive tripling of the capital expenditure outlay in
the past 4 years resulting in huge multiplier impact on economic growth and employment creation.
As per the First Advance Estimates of National Income of FY 2023-24, presented along with the
Finance Minister’s speech, India’s Real GDP is projected to grow at 7.3 per cent. This is also in line
with the upward revision in growth projections for FY2023-24 by the RBI (in its December 2023
Monetary Policy Committee meeting) from 6.5 per cent to 7 per cent, prompted by strong growth in
Q2 of FY2023-24.
Indian economy has demonstrated resilience and maintained healthy macro-economic fundamentals,
despite global economic challenges. The International Monetary Fund (IMF), in its World Economic
Outlook (WEO), October 2023, has revised its growth projection for India for FY2023-24 upwards to
6.3 per cent from 6.1 per cent projected in July 2023. This reflects increasing global confidence in
India’s economic prowess at a time when global growth projection for 2023 remains unchanged at 3
per cent.
As per the IMF, India is likely to become the third-largest economy in 2027 (in USD at market
exchange rate) and it also estimated that India’s contribution to global growth will rise by 200 basis
points in 5 years. Moreover, various international agencies such as the World Bank, the IMF, OECD
and ADB project India to grow between 6.4 per cent, 6.3 per cent, 6.1 per cent and 6.7 per cent,
respectively in 2024-25.
The Finance Minister stated that strong growth in economic activity has imparted buoyancy to
revenue collections and pointed out that GST collection stood at ?1.65 lakh crore in December
2023.This is the seventh-time that gross GST revenues have crossed ?1.6 lakh crore benchmark.
She said, coming to 2024-25, the total receipts other than borrowings and the total expenditure are
estimated at Rs 30.80 and 47.66 lakh crore respectively. The tax receipts are estimated at Rs 26.02
lakh crore.   
In a major announcement, the Finance Minister said, the scheme of fifty-year interest free loan for
capital expenditure to states will be continued this year with total outlay of Rs1.3 lakh crore. A
provision of seventy-five thousand crore rupees as fifty-year interest free loan is proposed this year to
support the milestone-linked reforms of Viksit Bharat by the State Governments.
Referring to the fiscal consolidation, as announced in her Budget Speech for 2021-22, to reduce fiscal
deficit below 4.5 per cent by 2025-26, Smt Sitharaman said, the fiscal deficit in
2024-25 is estimated to be 5.1 per cent of GDP, adhering to that path.
Similarly, the gross and net market borrowings through dated securities during 2024-25 are estimated
at Rs 14.13 and 11.75 lakh crore respectively and both will be less than that in 2023-24.
Pointing out at some of the bright spots of the economy, the Finance Minister informed that the 
Revised Estimate of the total receipts other than borrowings is Rs 27.56 lakh crore, of which the tax
receipts are Rs 23.24 lakh crore. The Revised Estimate of the total expenditure is Rs 44.90 lakh
crore.  The revenue receipts at Rs 30.03 lakh crore are expected to be higher than the Budget
Estimate, reflecting strong growth momentum and formalization in the economy.
Smt Sitharaman also stated that the gross and net market borrowings through dated securities during
2024-25 are estimated at Rs14.13 and 11.75 lakh crore respectively and both will be less than that in
2023-24.
She announced that the FDI inflow during 2014-23 was USD 596 billion marking a golden era and
this is twice the inflow during 2005-14. 
For encouraging sustained foreign investment, we are negotiating bilateral investment treaties with
our foreign partners, in the spirit of ‘first develop India’, the Finance Minister added
Smt Nirmala Sithraman said, Prime Minister Shri Narendra Modi firmly believes and focused  on
four major castes. They are, ‘Garib’ (Poor), ‘Mahilayen’ (Women), ‘Yuva’ (Youth) and 
‘Annadata’(Farmer). She said, their needs, their aspirations, and their welfare are government’s
highest priority, because the country progresses, when they progress.
Smt Nirmala Sitharaman elaborated that this government’s humane and inclusive approach to
development is a marked and deliberate departure from the earlier approach of ‘provisioning up-to-
village level’. Development programmes, in the last ten years, have targeted each and every
household and individual, through ‘housing for all’, ‘hargharjal’, electricity for all, cooking gas for
all, bank accounts and financial services for all, in record time, she added.
The Finance Minister stressed that this Government is working with an approach to development that
is all-round, all-pervasive and all-inclusive ( ???  ???, ? ?  ? ?? ??  ??? ? ? ??). It covers all castes
and people at all levels. She said, “We are working to make India a ‘Viksit Bharat’ by 2047. For
Page 5


?
Ministry of Finance
SUMMARY OF THE INTERIM UNION BUDGET
2024-25
INDIA’S REAL GDP PROJECTED TO GROW AT
7.3 PER CENT IN FY 2023-24
FINANCE AND CORPORATE AFFAIRS
MINISTER SMT NIRMALA SITHARAMAN
PRESENTS THE INTERIM UNION BUDGET
FOR 2024-2025 IN PARLIAMENT
CAPITAL EXPENDITURE OUTLAY FOR THE
NEXT YEAR IS BEING INCREASED BY 11.1
PER CENT TO RS 11,11,111 CRORE, WHICH
WOULD BE 3.4 PER CENT OF THE GDP
FISCAL DEFICIT IN 2024-25 IS ESTIMATED TO
BE 5.1 PER CENT OF GDP
FDI INFLOW DURING 2014-23 WAS USD 596
BILLION, WHICH IS TWICE THE INFLOW
DURING 2005-14.
UPLIFTMENT OF ‘GARIB’ (POOR),
‘MAHILAYEN’ (WOMEN), ‘YUVA’ (YOUTH) AND
‘ANNADATA’(FARMER) IS THE HIGHEST
PRIORITY OF GOVERNMENT
A CORPUS OF RUPEES ONE LAKH CRORE
WILL BE ESTABLISHED WITH
FIFTY-YEAR INTEREST FREE LOAN FOR
YOUTH
SCHEME OF 50 YEAR INTEREST FREE LOAN
FOR CAPEX TO STATES WILL BE
CONTINUED THIS YEAR WITH TOTAL
OUTLAY OF RS 1.3 LAKH CRORE.
GOVERNMENT IS WORKING WITH AN
APPROACH TO DEVELOPMENT THAT IS ALL-
ROUND, ALL-PERVASIVE AND ALL-
INCLUSIVE ( ???  ?? ?, ? ?   ? ?? ??  ???? ? ??)
THE BUDGET CONTAINES A NUMBER OF
ANNOUNCEMENTS AND STRATEGIES
INDICATING DIRECTIONS AND
DEVELOPMENT APPROACH FOR MAKING
INDIA VIKSIT BHARAT BY 2047
GOVERNMENT WILL PAY UTMOST
ATTENTION TO MAKE THE EASTERN
REGION AND ITS PEOPLE A POWERFUL
DRIVER OF INDIA’S GROWTH
GOVERNMENT WILL FORM A HIGH-
POWERED COMMITTEE FOR AN EXTENSIVE
CONSIDERATION OF THE CHALLENGES
ARISING FROM FAST POPULATION GROWTH
AND DEMOGRAPHIC CHANGES
NO CHANGE PROPOSED IN TAX RATES IN
THE INTERIM BUDGET
ABOUT ONE CRORE TAX PAYERS EXPECTED
TO BENEFIT FROM WITHDRAWAL OF
CERTAIN PETTY AND DISPUTED DIRECT TAX
DEMANDS
GOVERNMENT TO LAY WHITE PAPER ON
INDIAN ECONOMY NOW AND THEN
Posted On: 01 FEB 2024 12:55PM by PIB Delhi
PART-A SUMMARY
The Finance and Corporate Affairs Minister Smt Nirmala Sitharaman, while presenting the Interim
Union Budget for 2024-2025 in Parliament today announced that the capital expenditure outlay for
the next year is being increased by 11.1 per cent to Rs 11,11,111 crore, which would be  3.4 per cent
of the GDP.
She said, this is in the wake of building on the massive tripling of the capital expenditure outlay in
the past 4 years resulting in huge multiplier impact on economic growth and employment creation.
As per the First Advance Estimates of National Income of FY 2023-24, presented along with the
Finance Minister’s speech, India’s Real GDP is projected to grow at 7.3 per cent. This is also in line
with the upward revision in growth projections for FY2023-24 by the RBI (in its December 2023
Monetary Policy Committee meeting) from 6.5 per cent to 7 per cent, prompted by strong growth in
Q2 of FY2023-24.
Indian economy has demonstrated resilience and maintained healthy macro-economic fundamentals,
despite global economic challenges. The International Monetary Fund (IMF), in its World Economic
Outlook (WEO), October 2023, has revised its growth projection for India for FY2023-24 upwards to
6.3 per cent from 6.1 per cent projected in July 2023. This reflects increasing global confidence in
India’s economic prowess at a time when global growth projection for 2023 remains unchanged at 3
per cent.
As per the IMF, India is likely to become the third-largest economy in 2027 (in USD at market
exchange rate) and it also estimated that India’s contribution to global growth will rise by 200 basis
points in 5 years. Moreover, various international agencies such as the World Bank, the IMF, OECD
and ADB project India to grow between 6.4 per cent, 6.3 per cent, 6.1 per cent and 6.7 per cent,
respectively in 2024-25.
The Finance Minister stated that strong growth in economic activity has imparted buoyancy to
revenue collections and pointed out that GST collection stood at ?1.65 lakh crore in December
2023.This is the seventh-time that gross GST revenues have crossed ?1.6 lakh crore benchmark.
She said, coming to 2024-25, the total receipts other than borrowings and the total expenditure are
estimated at Rs 30.80 and 47.66 lakh crore respectively. The tax receipts are estimated at Rs 26.02
lakh crore.   
In a major announcement, the Finance Minister said, the scheme of fifty-year interest free loan for
capital expenditure to states will be continued this year with total outlay of Rs1.3 lakh crore. A
provision of seventy-five thousand crore rupees as fifty-year interest free loan is proposed this year to
support the milestone-linked reforms of Viksit Bharat by the State Governments.
Referring to the fiscal consolidation, as announced in her Budget Speech for 2021-22, to reduce fiscal
deficit below 4.5 per cent by 2025-26, Smt Sitharaman said, the fiscal deficit in
2024-25 is estimated to be 5.1 per cent of GDP, adhering to that path.
Similarly, the gross and net market borrowings through dated securities during 2024-25 are estimated
at Rs 14.13 and 11.75 lakh crore respectively and both will be less than that in 2023-24.
Pointing out at some of the bright spots of the economy, the Finance Minister informed that the 
Revised Estimate of the total receipts other than borrowings is Rs 27.56 lakh crore, of which the tax
receipts are Rs 23.24 lakh crore. The Revised Estimate of the total expenditure is Rs 44.90 lakh
crore.  The revenue receipts at Rs 30.03 lakh crore are expected to be higher than the Budget
Estimate, reflecting strong growth momentum and formalization in the economy.
Smt Sitharaman also stated that the gross and net market borrowings through dated securities during
2024-25 are estimated at Rs14.13 and 11.75 lakh crore respectively and both will be less than that in
2023-24.
She announced that the FDI inflow during 2014-23 was USD 596 billion marking a golden era and
this is twice the inflow during 2005-14. 
For encouraging sustained foreign investment, we are negotiating bilateral investment treaties with
our foreign partners, in the spirit of ‘first develop India’, the Finance Minister added
Smt Nirmala Sithraman said, Prime Minister Shri Narendra Modi firmly believes and focused  on
four major castes. They are, ‘Garib’ (Poor), ‘Mahilayen’ (Women), ‘Yuva’ (Youth) and 
‘Annadata’(Farmer). She said, their needs, their aspirations, and their welfare are government’s
highest priority, because the country progresses, when they progress.
Smt Nirmala Sitharaman elaborated that this government’s humane and inclusive approach to
development is a marked and deliberate departure from the earlier approach of ‘provisioning up-to-
village level’. Development programmes, in the last ten years, have targeted each and every
household and individual, through ‘housing for all’, ‘hargharjal’, electricity for all, cooking gas for
all, bank accounts and financial services for all, in record time, she added.
The Finance Minister stressed that this Government is working with an approach to development that
is all-round, all-pervasive and all-inclusive ( ???  ???, ? ?  ? ?? ??  ??? ? ? ??). It covers all castes
and people at all levels. She said, “We are working to make India a ‘Viksit Bharat’ by 2047. For
achieving that goal, we need to improve people’s capability and empower them”.
She also pointed out, “Previously, social justice was mostly a political slogan. For our Government,
social justice is an effective and necessary governance model”.
 The Finance Minister announced amidst thumping of desks that the Indian economy has witnessed
profound positive transformation in the last ten years and the people of India are looking ahead to the
future with hope and optimism. She added, “Conditions were created for more opportunities for
employment and entrepreneurship. The economy got a new vigour. The fruits of development started
reaching the people at scale. The country got a new sense of purpose and hope”.
The Finance Minister informed that with the pursuit of ‘SabkakaSaath’ in these 10 years, the
Government has assisted 25 crore people to get freedom from multi-dimensional poverty and the 
Government’s efforts are now getting synergized with energy and passion of such empowered people.
She informed that PM Mudra Yojana has sanctioned 43 crore loans aggregating to Rs 22.5 lakh crore
for entrepreneurial aspirations. It may be mentioned that thirty crore Mudra Yojana loans have been
given to women entrepreneurs.
The Interim Budget contains a number of announcements and strategies indicating directions and
development approach for making India Viksit Bharat by 2047.
Making a slew of announcements, Smt Nirmala Sitharaman said, the Government will pay utmost
attention to make the eastern region and its people a powerful driver of India’s growth, PM Awas
Yojana (Grameen) is close to achieving the target of three crore houses and two crore more houses
will be taken up in the next five years to meet the requirement arising from increase in the number of
families.  Similarly, through rooftop solarization, one crore households will be enabled to obtain up to
300 units free electricity every month.
Pradhan Mantri Kisan Sampada Yojana has benefitted 38 lakh farmers and generated 10 lakh
employment. Pradhan Mantri Formalisation of Micro Food Processing Enterprises Yojana has
assisted 2.4 lakh SHGs and sixty thousand individuals with credit linkages.
Smt Nirmala Sitharaman announced that for our tech savvy youth, this will be a golden era, as a
corpus of rupees one lakh crore will be established with
fifty-year interest free loan. She said, the corpus will provide long-term financing or refinancing with
long tenors and low or nil interest rates. This will also encourage the private sector to scale up
research and innovation significantly in sunrise domains, she added
For Railways, three major economic railway corridor programmes will be implemented-energy,
mineral and cement corridors, port connectivity corridors, and high traffic density corridors.
Moreover, forty thousand normal rail bogies will be converted to the Vande Bharat standards to
enhance safety, convenience and comfort of passengers.
On Aviation Sector, the number of airports have doubled to 149 and today five hundred and seventeen
new routes are carrying 1.3 crore passengers. Indian carriers have pro-actively placed orders for over
1000 new aircrafts.
Smt Nirmala Sitharaman announced that the Government will form a high-powered committee for an
extensive consideration of the challenges arising from fast population growth and demographic
changes and the committee will be mandated to make recommendations for addressing these
challenges comprehensively in relation to the goal of ‘Viksit Bharat’.