Interim Budget 2024

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Yash Vora

2/4/20242 min read

Hey there, exam warriors and future leaders! Let’s talk about budgets! Did you know India just had a special kind of budget called the “Interim Budget” presented in February? Unlike the regular one, this one covers just the first half of the financial year. But don’t worry, it’s still packed with interesting stuff! So, grab your notebooks, and let’s decode some key highlights:

  1. Empowering Youth & Empowering Women:

  • 43 crores loans sectioned under PM Mudra Yojana.

  • The government will also expand the ‘Lakhpati Didi’ schemes to empower rural women and boost the rural economy.

  1. Vision for Viksit Bharat:

From the construction of new highways and railways to the development of smart cities, the aim is to enhance connectivity and create a modern and efficient urban landscape.

  • Increasing the budget for Infrastructure by a whopping 11%.

  • It will also prioritize reducing the fiscal deficit to 4.5% by 2025-26.

  • The Government will also subsidize the construction of 30 million affordable houses (PM Awas Yojna) in rural areas.

These all promise not only improved infrastructure but also increased job opportunities.

  1. Green Revolution 2.0:

The Government has announced many schemes to turn Net Zero by 2070.

  • Ignite the wind’s power offshore with a 1 GW spark of funding.

  • Rooftop Solarization and free electricity: One crore households will be enabled to obtain 300 units of free electricity every month.

  • Procuring biomass aggregation machinery.

  • Expand, and strengthen the e-vehicle ecosystem by supporting manufacturing and charging infrastructure.

  • E-buses get the green light with a secure payment system for public transport.

  1. Welfare:

  • The budget highlights the government’s commitment to ‘Sabka Sath ‘by assisting 25 Crore people in escaping multi-dimensional poverty.

  • Noteworthy initiatives like PM-SVANidhi and PM-JANMAN Yojana are making a significant impact, providing credit assistance to street vendors and vulnerable tribal groups, respectively.

  • The agriculture sector sees substantial support through PM-KISAN SAMMAN Yojna and the Electronic National Agriculture market.

  1. Health:

  • More medical colleges

  • Encourage vaccination for girls in the age group 9-14 for the prevention of cervical cancer.

  • Upgradation of Anganwadi centers under “Saksham Anganwadi and Poshan 2.0” will be expenditure for improved delivery, early childhood care and development.

  • Healthcare cover under the Ayushman Bharat scheme will be extended to all ASHA workers, Anganwadi workers, and helpers.

In conclusion, the 2024 Interim Budget paints a picture of a progressive and inclusive India. With a strong focus on education, healthcare, sustainability, entrepreneurship, infrastructure and technology, the government aims to lay the foundation for a brighter future. The budget serves as a beacon of hope for a prosperous and dynamic India.



Thank you.

Regards,

Kumari Swapnil Verma,

Kautilya, IBS Mumbai.

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