Finance Minister Nirmala Sitharaman on Tuesday announced the Narendra Modi government’s nine priorities and four pillars to take the country forward as she presented the Union Budget for the year 2024-2025.
Sitharaman said the government will make sustained efforts on nine priorities for ‘Viksit Bharat’, listing them as productivity and resilience in agriculture, employment and skilling, improved human resources, social justice, manufacturing and services, urban development, energy security, infrastructure, innovation, research and development, and next-gen reforms.
“As mentioned in the interim Budget, we need to focus on four different sections: the poor, women, youth and the farmers,” the minister said as she presented her seventh budget.
Introducing the prime minister’s package of five schemes and initiatives to facilitate employment, skilling and other opportunities for 4.1 crore youth over five years with a central outlay of Rs 2 lakh crore, Sitharaman said: “This year, we have made a provision of Rs 1.48 lakh crore for education, employment and skilling.”
She added that the government has extended the PM Garib Kalyan Anna Yojana for five years, which is benefiting 80 crore people of the country.
The finance minister said people have given a unique opportunity to the Modi government to take India on the path of strong development, and all-round prosperity.
In the next two years, one crore farmers will be initiated in natural farming, she said. Large-scale vegetable production clusters would be promoted to increase output, she stated.
The government will release new 109 high-yielding, climate-resilient seeds for 32 field and horticulture crops.
According to her, implementation of various schemes announced in the interim budget in February is still underway.
Finance Minister Nirmala Sitharaman on Tuesday said the government will come out with a credit guarantee scheme for MSMEs to facilitate term loans without collateral or third party guarantee. She proposed central assistance of Rs 2.2 lakh crore for urban housing over the next five years.
As part of a slew of measures to boost the sector, the government will reduce the turnover threshold of MSME buyers for mandatory onboarding on TReDs platform from Rs 500 crore to Rs 250 crore.
TReDS is an online platform to help MSMEs (Micro, Small and Medium Enterprises).
Among other steps, SIDBI will open 24 new branches to serve MSMEs clusters. In the Budget, Sitharaman said Rs 2.66 lakh crore is being provided for rural development.
Further, the government will launch saturation drive under Pradhan Mantri Janjati Adivasi Nyaya Maha Abhiyan (PM JANMAN).
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