Finance Minister Nirmala Sitharaman Presents Union Budget 2024-25
On Tuesday, Finance Minister Nirmala Sitharaman presented the Union Budget 2024-25 in the Lok Sabha, outlining nine key priorities aimed at generating ample opportunities. These priorities include:
- 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
- Next Generation Reforms
Sitharaman emphasized that future budgets will build on these priorities. She highlighted the government’s focus on the poor, women, youth, and farmers, extending the Pradhan Mantri Garib Kalyan Anna Yojana for five years, benefiting over 80 crore people. The budget allocates Rs 1.48 lakh crore for education, employment, and skills, and Rs 3 lakh crore for schemes benefiting women and girls.
Additionally, the budget aims to achieve self-reliance in pulses and oil seeds, with a strategy to enhance production. One crore farmers will be initiated into natural farming, supported by certification and branding, and 10,000 bio input resource centers will be established. The completion of the Polavaram Irrigation Project will help ensure national food security.
Measures for the welfare of women and girls and boosting development in the northeastern region were also announced, including the establishment of more than 100 branches of India Post Payment Bank in the North East.
Doubts Revealed
Finance Minister -: The Finance Minister is a person in the government who is responsible for managing the country’s money and economic policies. In India, this role is currently held by Nirmala Sitharaman.
Union Budget -: The Union Budget is a detailed plan of the government’s income and expenses for the upcoming year. It shows how the government plans to spend money on different things like education, health, and infrastructure.
Nirmala Sitharaman -: Nirmala Sitharaman is an Indian politician who is the current Finance Minister of India. She is responsible for presenting the Union Budget and managing the country’s finances.
Rs 1.48 lakh crore -: Rs 1.48 lakh crore is a large amount of money. In Indian numbering, ‘lakh’ means 100,000 and ‘crore’ means 10 million. So, Rs 1.48 lakh crore is 1.48 trillion rupees.
Pradhan Mantri Garib Kalyan Anna Yojana -: This is a government program in India that provides free food grains to poor people. ‘Pradhan Mantri’ means Prime Minister, ‘Garib Kalyan’ means welfare of the poor, and ‘Anna Yojana’ means food scheme.
Self-reliance in pulses and oil seeds -: Self-reliance means being able to produce enough of something without needing to import it from other countries. Pulses are types of beans and lentils, and oil seeds are seeds used to make cooking oil.
Northeastern region -: The northeastern region of India includes states like Assam, Manipur, and Meghalaya. This area is known for its unique culture and geography.
Natural farming initiatives -: Natural farming is a way of growing crops without using chemical fertilizers or pesticides. It is better for the environment and for people’s health.