Budget 2024: Ahead of the 2024 Lok Sabha elections, Finance Minister Nirmala Sitharaman is formulating a budget that prioritizes the welfare of women, farmers, youth, and the poor – four key voter demographics highlighted by Prime Minister Narendra Modi recently.What did FM Nirmala Sitharaman say on Budget 2024Allocations for existing schemes benefiting these groups are set to be enhanced, along with potential new programs aligned to the same goals.At an event last week, Sitharaman reiterated the governments focus on uplifting these segments without consideration of caste or religion, as emphasized by the prime minister.Will youth, women, poor benefit thorugh Budget 2024Sources indicate a substantial increase in skill development and education investments targeting youth. Funding for Skill India initiatives may rise 10% from the current Rs 2,278 crores.Similarly, greater budgetary support for women and child development schemes is on the cards.PM-Kisan to help in agri-businessesIn agriculture, continued emphasis on farmer welfare is expected via hikes in PM-Kisan allocations and tweaks in the crop insurance scheme. The PM-Kisan income support of Rs 6,000 per annum for small farmers could potentially be increased this time.Healthcare benefits may also expand with proposals to make the New Pension Scheme more attractive by guaranteeing fixed returns.What interim budget showcaseAs the ruling party girds for a third consecutive term, the interim budget is being crafted to showcase its socio-economic agenda and reinforce popularity among key voter groups.Schemes that have provided income stability, upskilling avenues, and financial inclusion for the marginalized sections are set to receive a further boost in terms of enlarged monetary commitments.12th budget under PM ModiThis will be the 12th budget under the PM Modi-led government and the 6th by FM Sitharaman. The budget is widely expected to continue Indias focus on capital investment and strategic welfare spending while firing up the growth engine in the run-up to 2024.
