New Delhi: Finance Minister Nirmala Sitharaman presented the Union Budget for 2024-25, following approval from the Cabinet on Tuesday. In her opening remarks, Sitharaman expressed optimism that Indias economy is poised to stand out as a remarkable success story, defying global trends.We are determined all Indians regardless of religion and age achieve life goals and aspirations, Sitharaman said.Focus on four major castesIn the budget speech, the Finance Minister emphasized that the governments focus on four crucial parts of society, the poor, women, youth and farmers. We need to focus on the garib (poor), mahilaye (women), yuva (youth), and annadata (Farmers). For annadata, we announced higher MSP a month ago for all major crops, delivering on our promise. The PM Garib Kalyan Anna Yojana was extended for five years, benefiting more than 80 crore people. Sitharaman said. Support for the PoorThe governments commitment to the welfare of the poor is evident through schemes like the PM Garib Kalyan Anna Yojana which has been extended for another five years. This initiative has already benefited over 80 crore people, providing essential food security to vulnerable communities.Women EmpowermentRecognizing the critical role of women in nation-building, various schemes and policies have been implemented to support their empowerment. These initiatives focus on education, skill development, entrepreneurship, and ensuring a safer environment for women in both rural and urban areas.Empowering YouthWith a significant portion of Indias population being youth, the government has introduced several programs to harness their potential. These include skill development initiatives, employment generation schemes and support for startups and small businesses run by young entrepreneurs. The aim is to equip the youth with the necessary tools and opportunities to contribute effectively to the countrys growth.#WATCH | #Budget2024 | Finance Minister Nirmala Sitharaman says, ...One month wage to all persons newly entering the workplace in all formal sectors. Direct Benefit Transfer of one month salary in 3 instalments to first-time employees as registered in the EPFO will be up to Rs… pic.twitter.com/VRooHpwxBj— ANI (@ANI) July 23, 2024Supporting FarmersOne of the pivotal announcements made by the government was the increase in Minimum Support Price (MSP) for major crops. This was promised earlier and now delivered which aims to ensure that farmers receive fair compensation for their produce. This step is expected to benefit numerous farmers across the country.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, 2024Rise in womens empowerment budgetThe Economic Survey reveals a significant enhancement in the budget allocation for womens welfare and empowerment schemes, which has witnessed a substantial surge of 218.8% over the past decade, escalating from Rs 97,134 crore in the Financial Year 2014 to a notable Rs 3.10 lakh crore in the Financial Year 2025.Furthermore, the Gender Budget Statement has experienced a considerable increase of 38.7% compared to the Financial Year 2024 Budget Estimate, with its share in the total Union Budget rising to an unprecedented 6.5% in Financial Year 2025, marking the highest proportion since the introduction of the Gender Budget Statement in Financial Year 2006.
