On Tuesday, Finance Minister Nirmala Sitharaman unveiled the Union Budget 2024-25, outlining nine essential priorities aimed at fostering economic growth and stability.
Union Budget 2024-25: Rs 1.48 Crore Allocated for Education, Employment, and Skilling
Finance Minister Nirmala Sitharaman revealed that the Union Budget 2024-25 will allocate ₹1.48 crore towards enhancing education, employment, and skilling initiatives across the country.
Sitharaman highlighted that the government's focus areas will include boosting employment, expanding skilling opportunities, supporting micro, small, and medium enterprises (MSMEs), and aiding the middle class. Additionally, she announced a five-year extension of the PM Garib Kalyan Anna Yojana, which currently benefits 80 crore people.
To support youth entering the job market, the government will offer incentives to 30 lakh individuals by covering one month’s Provident Fund (PF) contribution. Moreover, financial aid will be provided for loans up to ₹10 lakh to support higher education within domestic institutions.
Nine Priorities for Growth In her seventh consecutive budget presentation, Sitharaman highlighted key areas for development, including productivity enhancement, job creation, social justice, urban development, energy security, infrastructure improvements, innovation, and ongoing reforms.
The 9 priorities for generating vast opportunities for Indians included:
Productivity, resilience in agriculture Employment and skilling Inclusive human resource development and Social justice Urban development Energy security Infrastructure Innovation, research and development Next generation reformsA significant focus was placed on agricultural advancements. Sitharaman announced plans to involve one crore farmers in natural farming practices over the next two years. Additionally, efforts will be made to establish large-scale vegetable production clusters to boost output. The government also plans to introduce 109 high-yielding, climate-resilient seed varieties suitable for 32 different field and horticulture crops.
Continuing Schemes from Interim Budget
Sitharaman confirmed that the implementation of several schemes from the Interim Budget presented in February is still ongoing. These schemes are part of the government's broader efforts to ensure continued progress and development.
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