The Roadmap Of The Budget 2024: 30 Lakh Crore Allocated For Schemes And Expenditure
Updated: 15-05-2025 at 12:31 PM
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The Union Budget 2024 was announced by Finance Minister Nirmala Sitaraman. She stated that this year’s budget is focused on employment, skilling, MSME and the middle class. The budget aims to focus on various key aspects to boost the economy as well as support various sectors financially. Let’s take a look at the key budget announcements.
Key Highlights Of Union Budget 2024
The Union Budget 2024 has various allocations for all sectors. Let’s take a look at the key budget announcements made by Nirmala Sitaraman.
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Optimising Efficiency in Agriculture
The government has decided to increase the funding for the agriculture sector and wants to focus on sustainable farming. The government wants all farmers to practice sustainable farming and will also provide them with financial assistance for irrigation projects and incentives. 1.52 lakh crore has been allocated for the agriculture sector.
Finance Minister Nirmala Sitharaman announced that credit guarantee schemes and term loans will be introduced so that MSMEs can focus on growing their business and earning back the profits lost during the COVID-19 pandemic. Rs.22,000 crore has been allocated by the government for MSMEs. This will also financially help them purchase machinery and support packages. SIDBI is said to open 24 new branches to serve MSME clusters.
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Investing In Healthcare
A big part of the budget is allocated to the healthcare sector to improve infrastructure, increase and enhance healthcare facilities, and ensure more access to medical services. The government has allocated Rs. 90,000 crore for the healthcare sector. The government has decided to focus on improving the healthcare sector in Bihar.
To improve the quality of education, the government has allocated funds. They have allotted financial support for higher education loans up to Rs. 10 lakhs and also introduced internship schemes to help one crore youth fight the current unemployment rate and also help enhance their skills.
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Infrastructure Development
The Union Budget 2024 will focus on infrastructure development. It is mainly for the construction of roads, railways and public transportation. Rs. 26,000 crore has been allocated for the infrastructure development. New airports and sports infrastructure are to be constructed in Bihar. The government is also providing special financial support of Rs, 15,000 crores for Andhra Pradesh.
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Social Welfare Programs
Nirmala Sitharaman announced in the Union Budget 2024 that the government continues to support social welfare programs, including schemes for women empowerment, child welfare, and senior citizens. The government has allocated Rs. 3 lakh crore for schemes for women and girls.
The Union Budget 2024 has various tax reforms to simplify the tax system and reduce the burden on taxpayers. The inflation rate is going to increase by 4% as the target set by the government.
Conclusion
Overall, the Union Budget 2024 has several aims and targets set for the welfare of the nation. By focusing on agriculture, MSMEs, healthcare, infrastructure, etc. the entire development of the nation as well as the economy will also happen. The Union Budget 2024 will help India move towards being a completely developed country as well.
For more information on the Union Budget 2024, click here. Stay updated on Jaagruk Bharat for more information on the Budget.
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