Finance Minister Nirmala Sitharaman presented the first Union Budget of Modi 3.0, focusing on policy consistency, fiscal prudence, and job creation. The budget retains elements of heavy capital expenditure, welfare spending, and growth targets, with a renewed emphasis on empowering the youth.
The youth are the primary beneficiaries, with a significant push for skill development and job opportunities.
Empowering Youth: A Central Focus of Modi’s Vision for Viksit Bharat
The budget prioritizes fulfilling the aspirations of the youth, with schemes and initiatives totaling Rs 2 lakh crore to create a future-ready workforce.
By investing in the youth, the government aims to drive national growth and development, setting a visionary roadmap for the future.
Economic Stability Amid Global Uncertainties
Despite global uncertainties, India’s economic growth remains stable, with a focus on ensuring adequate market supplies and stable inflation rates.
Inclusivity at the Heart of the Budget
The budget emphasizes inclusive growth, targeting the poor, women, youth, and farmers, with actions already underway to implement announced schemes.
Transforming agriculture and rural development
Agriculture and rural development receive significant allocations, with a focus on agricultural productivity, natural farming, and fair prices for farmers.
Empowering women and tribal communities
The budget aims to empower women and tribal communities through various schemes, targeting rural development and housing initiatives.
Fostering Small Businesses and Eastern Region Development
The government focuses on supporting small businesses, artisans, and entrepreneurs while fostering development in the eastern region.
Supporting MSMEs and infrastructure development
Special attention is given to MSMEs, manufacturing, and infrastructure development, with a strong focus on capital expenditure over the next five years.
Boosting Startups and Social Security
The budget abolishes the angel tax for investors and improves social security benefits, aiming to boost the startup ecosystem.
Simplifying the New Tax Regime
Tax reforms simplify the tax regime, offering relief to salaried employees and pensioners while ensuring more equitable support for all segments of society.
Conclusion: Towards a Developed India
The budget outlines a comprehensive vision for India’s economic growth and development, aligning with the government’s goal of a developed India by 2047.
With a focus on inclusive and sustainable growth, the budget sets the stage for a resilient economy, supporting employment, MSMEs, and rural development to propel India towards continued progress.
Disclaimer: The author’s views are personal and do not necessarily reflect those of News18.
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