Finance Minister Nirmala Sitharaman’s 2024-25 Budget: Key Priorities for India’s Growth
New Delhi, India – Finance Minister Nirmala Sitharaman presented her seventh consecutive Union Budget for 2024-25, focusing on nine key areas to boost economic growth and create opportunities.
Key Priorities
1. Agriculture
Plans include raising productivity, supporting 2 crore farmers in natural farming, and conducting a digital crop survey in 400 districts.
2. Employment and Skilling
The First Timers Scheme will provide a 1-month wage to new workers, benefiting 2.1 crore youth. Manufacturing jobs will receive incentives, and 20 lakh youth will be skilled over 5 years.
3. Inclusive Human Resource Development
Initiatives like PM Vishwakarma and Purvodaya aim to develop the eastern region, including new medical colleges and sports infrastructure in Bihar.
4. Social Justice
3 crore additional houses will be built under PM Awas Yojna, and tribal families will receive support through PM Jan Jatiya Unnat Gram Abhiyan.
5. Manufacturing and Services
Incentives for manufacturing jobs and support for employers to cover EPFO charges.
6. Urban Development
Development of expressways and bridges, particularly in Bihar.
7. Energy Security
Focus on sustainable energy solutions.
8. Infrastructure
Construction of new infrastructure projects, including expressways and bridges.
9. Innovation, Research, and Development
Encouraging next-generation reforms and technological advancements.
Doubts Revealed
Finance Minister -: The Finance Minister is a government official responsible for managing the country’s money and economic policies. In India, this person helps decide how the government will spend and save money.
Nirmala Sitharaman -: Nirmala Sitharaman is an Indian politician who is currently serving as the Finance Minister of India. She is responsible for presenting the Union Budget and managing the country’s finances.
Union Budget -: The Union Budget is a detailed plan of the government’s income and expenses for a particular year. It shows how the government plans to spend money on different sectors like health, education, and infrastructure.
agriculture -: Agriculture is the practice of farming, which includes growing crops and raising animals for food, fiber, and other products. It is a crucial part of India’s economy.
employment and skilling -: Employment refers to having a job, while skilling means learning new skills to get better jobs. The government focuses on creating jobs and training people to improve their skills.
inclusive human resource development -: Inclusive human resource development means making sure everyone, including disadvantaged groups, gets opportunities for education and job training to improve their lives.
social justice -: Social justice is about making sure everyone is treated fairly and has equal opportunities, regardless of their background, caste, or gender.
manufacturing and services -: Manufacturing involves making products in factories, while services include jobs like teaching, healthcare, and banking. Both are important for the economy.
urban development -: Urban development means improving cities and towns by building better roads, houses, and facilities to make life easier for people living there.
energy security -: Energy security means having a reliable and affordable supply of energy, like electricity and fuel, to power homes, businesses, and industries.
infrastructure -: Infrastructure includes basic facilities like roads, bridges, schools, and hospitals that are necessary for a country to function well.
innovation -: Innovation means creating new ideas, products, or methods to solve problems and improve people’s lives.
2 crore farmers -: A crore is a unit in the Indian numbering system equal to ten million. So, 2 crore farmers means 20 million farmers.
3 crore houses -: 3 crore houses means 30 million houses. The government plans to build these houses to provide better living conditions for people.