Rajasthan Budget 2024 Highlights: Key Announcements and Implications

Key Announcements In Rajasthan Budget 2024

Stamp Duty Relief and MV Tax Reduction

Among other things, one of the most important features of this budget includes stamp duty relief meant to ease property buyers’ burden. The government has also reduced the motor vehicle (MV) tax thus making car ownership more affordable for residents of Rajasthan. It is expected that these measures will boost economic activity as well as raise revenues from increased property and vehicle transactions.

CNG-PNG Prices Lowered

The budget has also announced a reduction in prices of CNG and PNG as an essential measure to cut down on living expenses. This will not only benefit households but also help in promoting cleaner fuel alternatives hence contributing to environmental sustainability.

Infrastructure Development

There is an ambitious plan for infrastructure development in this budget which includes nine greenfield expressways covering over 2,750 kilometers. It intends to facilitate connectivity which would be helpful for economic growth for example by filling four lakh vacancies over the next five years thereby generating many jobs for young people. Additionally, youth will have better opportunities with four lakh jobs being created within the next five years through government plans to fill them.

Focus on Agriculture

Importantly, agriculture remains at the centre stage in Rajasthan Budget 2024. The Minimum Support Price (MSP) for wheat has been increased by Rs 125 by the state government providing relief to farmers financially. The first stage of ERCP which targets improving irrigation and water supply in the area has also received financial sanction in the budget. The agriculture sector will benefit from these measures and improve farmers’ livelihoods.

Solar Energy Initiatives

For solar energy, Rajasthan is the pioneer state. In this regard, a Model Solar Village will be set up in every district through the budget and there will be installation of 2 MW decentralised solar plants. All government offices will use solar power as a source of energy which promotes renewable energy and reduces dependency on conventional power sources.

Benefits for Women and Youth

The budget 2024 introduces several govt schemes aimed at empowering women and youth. 15 lakh women under Lakhpati Didi Scheme shall be lifted to Lakhpati Didi status making them financially independent and stable. The first phase includes funds for the construction of 67 Pink Toilets to cater for female sanitation needs in urban areas.

Smart Meters and Electricity Connections

Within two years, the Government plans to provide electricity access to two lakh eight thousand houses and fit over twenty-five lakh smart meters. These would help improve the efficiency of power distribution systems such that more households get access to reliable electricity.

Technology and Defense Manufacturing

The Rajasthan budget 2024 is also centred on technology and defence manufacturing. In addition, an Amrit Global Technology and Application Center will be opened in Jaipur for Rs 200 crore. Furthermore, there will be the establishment of a defence manufacturing hub while attracting investments into the state’s new data centre policy.

Transportation Enhancements

The budget 2024 proposes buying 500 roadway buses and 300 electric buses to improve public transportation. Moreover, on service models, 800 buses are to be acquired to enhance public transport infrastructure in the state reducing carbon emissions.

Impact of Rajasthan Budget on Farmers and Other Sectors

The Rajasthan Budget 2024 has major implications for various sectors with agriculture being particularly affected. Through raising the MSP for wheat as well as approving ERCP, the farmers’ needs are being met by the government towards better water management. Additionally, solar energy focus alongside infrastructural development shall create room for more opportunities leading to economic growth of the state.