Key Highlights Of Budget 2024

Key Highlights Of Union Budget 2024

The Union Budget 2024-25 makes targeted allocations across sectors to stimulate growth, boost employment, and improve public welfare. Below is a sector-wise breakdown of the most important announcements made in the budget.

1. Optimising Efficiency in Agriculture

Agriculture remains the backbone of India’s economy, employing a large section of the population. In the Union Budget 2024-25, the government has placed strong emphasis on enhancing farm productivity while promoting sustainable agricultural practices.

An allocation of ₹1.52 lakh crore has been made for the agriculture and allied sectors. The focus is on encouraging farmers to adopt climate-resilient and sustainable farming techniques. Financial assistance will be provided for irrigation projects, modern farming tools, and water conservation initiatives.

The government also aims to improve access to credit for small and marginal farmers and strengthen agricultural value chains. These steps are expected to increase farmers’ incomes while ensuring food security and long-term sustainability.

2. Boost MSMEs

Micro, Small, and Medium Enterprises (MSMEs) play a critical role in employment generation and economic resilience. Recognising this, the Union Budget 2024-25 Highlights include several measures aimed at reviving and strengthening the MSME sector.

The government has allocated ₹22,000 crore for MSME development. New credit guarantee schemes and term loan facilities have been announced to ensure easier access to finance. These initiatives are designed to help MSMEs recover from pandemic-related losses and expand operations.

Additionally, the Small Industries Development Bank of India (SIDBI) will open 24 new branches to serve MSME clusters across the country. This move is expected to enhance credit outreach, encourage entrepreneurship, and support local manufacturing.

3. Investing In Healthcare

Healthcare has received a significant boost in the Union Budget 2024-25, with an allocation of approximately ₹90,000 crore. The government aims to strengthen healthcare infrastructure, improve access to medical services, and enhance the quality of care, particularly in underserved regions.

Special focus has been placed on improving healthcare facilities in Bihar, including hospitals, diagnostic centres, and medical colleges. The budget also emphasises preventive healthcare, digital health initiatives, and capacity building of healthcare professionals.

These investments aim to ensure affordable and accessible healthcare while strengthening India’s preparedness for future public health challenges.

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4. Education And Skill Development

Education and skill development are key pillars of long-term economic growth. In the Union budget 2024 summary, the government has prioritised initiatives that enhance employability and reduce youth unemployment.

Financial support has been announced for higher education loans up to ₹10 lakh, making education more accessible for students from middle- and lower-income backgrounds. Additionally, new internship schemes have been introduced to benefit one crore youth, providing them with hands-on experience and industry exposure.

These programmes are designed to bridge the gap between education and employment, equipping young individuals with market-relevant skills and improving job readiness.

5. Infrastructure Development

Infrastructure development continues to be a major focus area in the Union Budget 2024-25. The government has allocated ₹26,000 crore for infrastructure projects, including roads, railways, and public transportation systems.

The budget also includes plans for constructing new airports and sports infrastructure in Bihar, contributing to regional development. Additionally, Andhra Pradesh will receive special financial assistance of ₹15,000 crore to support infrastructure and development projects.

These investments are expected to generate employment, improve connectivity, and stimulate economic activity across regions.

6. Social Welfare Programs

Social welfare remains a cornerstone of government policy, and the Union Budget 2024-25 Highlights reaffirm this commitment. A substantial allocation of ₹3 lakh crore has been made for schemes focused on women and girls.

These schemes aim to promote women’s empowerment, improve access to education and healthcare, and support financial inclusion. The budget also continues funding for child welfare programmes and initiatives supporting senior citizens.

By prioritising social welfare, the government seeks to ensure inclusive growth and reduce socio-economic disparities.

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7. Tax Reforms

Social welfare remains a cornerstone of government policy, and the Union Budget 2024-25 Highlights reaffirm this commitment. A substantial allocation of ₹3 lakh crore has been made for schemes focused on women and girls.

These schemes aim to promote women’s empowerment, improve access to education and healthcare, and support financial inclusion. The budget also continues funding for child welfare programmes and initiatives supporting senior citizens.

By prioritising social welfare, the government seeks to ensure inclusive growth and reduce socio-economic disparities.

8. Employment Generation and Middle-Class Focus

One of the central themes of the Union budget 2024 summary is employment generation. The budget outlines strategies to create jobs through infrastructure projects, MSME support, and skill development programmes.

The middle class also benefits indirectly through improved access to education, healthcare, and employment opportunities. These measures collectively aim to improve living standards and enhance economic security.

Citizens and researchers looking for detailed financial data can refer to the official Union budget 2024 pdf and Union Budget 2024-25 pdf, which provide comprehensive information on allocations, policy measures, and fiscal estimates. These documents offer transparency and help stakeholders understand the government’s financial planning in detail.