The Union Budget often outlines key priorities for the governments economic strategy and on Tuesday, Union Finance Minister Nirmala Sitharaman presented the budget for the financial year 2024-25, which has identified nine priorities for generation ample opportunities. While presenting the budget in the Lok Sabha, the finance minister highlighted nine priorities to bolster the economy, which include Productivity and Resilience in Agriculture, Employment and Skilling and Manufacturing and Services.She also asserted that the interim budget presented in February highlighted the governments focus on four areas – poor, women, youth and farmers.Union Finance Minister Nirmala Sitharaman says As mentioned in the interim Budget, we need to focus on 4 different castes, the poor, women, youth and the farmer/ For farmers, we announced higher Minimum Support Prices for all major crops delivering on the promise for at least a… pic.twitter.com/Saj2ee3IU5— ANI (@ANI) July 23, 2024However, nine priorities that can be highlighted in the Union Budget are:Employment: Aiming to generate job opportunities, especially for the youth, through various schemes and incentives. Especially, the direct benefit transfer of one-month salary in 3 instalments to first-time employees, as registered in the EPFO, will be up to Rs 15,000. Agricultural: Rs 1.52 lakh crore allotted for agriculture & allied sectors. Enhancing agricultural output through modern techniques, infrastructure development, and support for farmers. New 109 high-yielding & climate resilient varieties of 32 field and horticulture crops to be released for cultivation by farmers.Productivity and Resilience in Agriculture🌱🔹 ₹ 1.52 lakh crore allotted for agriculture & allied sectors✅ New 109 high yielding & climate resilient varieties of 32 field and horticulture crops to be released for cultivation by farmers#UnionBudget2024… pic.twitter.com/VcZQgMGRuG— PIB India (@PIB_India) July 23, 2024Manufacturing: Boosting the manufacturing sector to make India a global manufacturing hub, which involves support for MSMEs, innovation, and industrial growth. A credit guarantee scheme is to be introduced that will operate on the cooling of credit risks of such MSMEs. A self-financing guarantee fund will provide each applicant cover of up to Rs 100 crore while the loan amount may be larger.#Budget2024 | ON MSMEs, Finance Minister Nirmala Sitharaman says, For facilitating term loans to MSMEs, a credit guarantee scheme will be introduced. The scheme will operate on the cooling of credit risks of such MSMEs. A self-financing guarantee fund will provide to each… pic.twitter.com/iaoielJr8W— ANI (@ANI) July 23, 2024Infrastructure Development: Expanding and modernizing infrastructure such as roads, railways, and ports to facilitate economic activities. The industrial node at Gaya on Amritsar Kolkata Industrial Corridor to be developed at the cost of ₹ 26,000 Crore. Infrastructure🔸 Industrial node at Gaya on Amritsar Kolkata Industrial Corridor to be developed🔸 Road connectivity projects to be developed at the cost of ₹ 26,000 Cr #UnionBudget2024 #BudgetForViksitBharat #Budget2024 pic.twitter.com/qni3ACPMbX— PIB India (@PIB_India) July 23, 2024Health: Improving healthcare facilities and services to ensure the well-being of citizens.Education: Strengthening the education system to provide quality education and skill development opportunities. While presenting the budget, Sitharaman said that the government will provide financial support for loans up to Rs 10 lakhs for higher education in domestic institutions.Budget 2024 | On Education loans, FM Sitharaman says,Govt to provide financial support for loans up to Rs 10 lakhs for higher education in domestic institutions. pic.twitter.com/nH3daipqEW— ANI (@ANI) July 23, 2024Digital Economy: Promoting digitalization and technological advancements across sectors. Apart from this, the mobile industry has proposed to reduce the BCD on mobile phones and mobile PCBS and mobile chargers to 15%.On Mobile phone industry, FM Sitharaman says, I propose to reduce the BCD on mobile phones and mobile PCBS and mobile chargers to 15%. pic.twitter.com/SJqMN2FpFK— ANI (@ANI) July 23, 2024Sustainability: Focusing on sustainable development practices to protect the environment while pursuing economic growth.Financial Inclusion: The government have made a provision of Rs 2.66 lakh crore for rural development including rural infrastructure that will ensure access to financial services for all citizens, particularly in rural and underserved areas.These priorities aim to create a balanced and inclusive growth trajectory for the country.
