Budget 2024 Announcements Live Updates: ‘Aim is to widen tax net either directly or indirectly’, says FM after presenting Budget
Budget 2024 Live: FM Nirmala Sitharaman lays out nine priorities of Modi government
Finance Minister Nirmala Sitharaman presented the Union Budget for 2024-25, focusing on key priorities to drive economic growth and create opportunities. The nine priority areas include agriculture, employment and skilling, inclusive human resource development, social justice, manufacturing and services, urban development, energy security, infrastructure, innovation, research and development, and next-generation reforms.
The first priority focuses on raising agricultural productivity through climate-resilient varieties, supporting natural farming for 2 crore farmers in the next two years, achieving self-sufficiency in oilseeds, promoting large-scale vegetable production clusters, and expanding the coverage of farmers and their land under the DPI in Agri Infrastructure within three years. Additionally, a digital crop survey will be conducted in 400 districts this year, and Jan Samarth-based certificates will be issued.
The second priority introduces the First Timers Scheme, providing a 1-month wage to all persons newly entering the workforce in formal sectors, with direct benefit transfers up to Rs 15,000 in three installments for those earning up to Rs 1 lakh per month, benefiting 2.1 crore youth. Manufacturing Jobs Assistance will offer incentives to employees and employers in the first four years of employment, benefiting 30 lakh youth and employers. Support to employers will be provided through an additional Rs 3,000 per month for two years to cover EPFO charges for additional employment in all sectors within a salary of Rs 1 lakh per month, incentivizing the employment of up to 50 lakh persons. Furthermore, 20 lakh youth will be skilled over five years, and financial support up to Rs 10 lakhs will be provided for higher education in domestic institutions, with an annual interest subvention of 3%.
The third priority encompasses PM Vishwakarma, Swanidhi, and NRLM, along with Purvodaya, a plan for the all-round development of the eastern region, including Bihar, Jharkhand, Odisha, and Andhra Pradesh, with a focus on human resource development.
