Budget 2024-25 - A Masterstroke
- M Chuba Ao
I welcome Union Budget 2024-25. I also take the opportunity to congratulate Prime Minister Shri Narendra Modi ji and Finance Minister Nirmala Sitharaman ji for presenting this year's budget under a typical difficult conditions globally.
It is no small achievement that India's economic growth has reached 8.2 per cent. In fact, this has set a record.
It ought to be stated that every sector from agriculture, rural development, education, healthcare has been kept focused in the budget and Finance Minister Madam Sitharaman deserves compliments.
We can conclude that the budget is inclusive, with a strong thrust on job creation and improving the skills. Notably, it has also able to strike the right balance between agriculture and other sectors like services and manufacturing.
The Finance Minister. much to her credit, announced a substantial allocation of Rs 1.52 lakh crore for agriculture and allied sectors in the new financial year.
Importantly, over the next two years, 10 million farmers will be introduced to natural farming practices.
As a Naga farmer by birth, it also makes me happy to note that our Modi government will release new 109 high yielding, climate resilient seeds for 32 field and horticulture crops.
Nagas in particular and the northeast people and other agrarian communities in the rest of the country will be immensely benefited.
The central government will also promote farmer producer organisations, cooperative and startups. The Digital public infra in agriculture will be made use of for coverage of farmers and lands in three years.
The Prime Minister's stewardship is now time tested as in the last 10 years he had put the country towards a journey for a developed India by 2047.
I find a number of innovative ideas as mentioned in the Budget speech.
FM Sitharaman has reduced fiscal deficit target to 4.5 per cent and she also announced a revised income tax structure in the new regime.
I particularly welcome a series of initiatives such as 20 lakh youths to be skilled
during next five years and that 1000 training institutions will be upgraded.
FM Sitharaman also listed nine priority areas for the government which are: productivity and resilience in agriculture, employment and skilling, inclusive human resource development and social justice, manufacturing and services, urban development, energy security, infrastructure, innovation, research and
development and next-generation reforms.
This Budget 2024-25 will be a consolidation of the 10 years of growth and will certainly put the country on a journey towards Viksit Bharat - Developed India.
Factually, Budget is always a journey of resolve to take the country on the path of development and progress. FM Nirmala ji has done a good balancing act and I am confident that under Shri Modi ji's leadership, the country will move rapidly towards achieving the goal of 'Viksit Bharat'.
PM Modi has committed since 2014 to make India self-reliant and we are on this great journey with result oriented projects, ambitious programmes and welfare schemes.
The announcement made for expansion of banking activities in north east India is another good move.
Lastly, I ought to mention new initiatives like support for women's workforce participation through hostels and creches, loans for students up to Rs 7.5 lakh with a government guarantee. These will help 25,000 students annually. I am also glad to note that the financial support for higher education will now ensure loans up to Rs 10 lakh and direct e-vouchers for 100,000 students every year, along with an annual interest subvention of three percent.
The opposition parties including the Congress are unable to find faults and that is why they are even stating that this year's Budget is a copy of Congress manifesto. They have all the more reasons to conduct more rationally now.
ends
(M Chuba Ao is BJP National Vice President, Views are personal.)
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