Lucknow: Union Budget 2024 -25 budget presentation stands as a testament to a well-calibrated blend of fiscal conservatism and aggressive growth strategies.
India’s Finance Minister Nirmala Sitharaman has tabled her coalition government’s first budget after the new governments formation .
The budget announcements clearly indicate a shift in priorities for Prime Minister Narendra Modi’s new dispensation, with ramped up allocations for rural development, skilling, jobs and agriculture.
The Announcement of three new schemes to address India’s chronic employment challenge is much appreciated .
First-time job entrants in the formal sector will get an additional direct cash transfers for their first month’s salary up to 15,000 rupees is a good thought .
Additionally, two more programmes which have been announced to boost manufacturing jobs through which the government will provide employment-linked incentives to both employees and employers.
The country’s burgeoning start-up ecosystem will have something to cheer about, with an angel tax levied on capital raised by private companies now abolished.
The budget’s core remains robustly attached to enhancing the infrastructure, manufacturing, and housing sectors—critical engines driving the nation’s long-term economic fortitude. In parallel, the government has crafted specific initiatives aimed at boosting consumption among the economically weaker sections through a concentrated focus on agriculture and welfare programs, coupled with more accessible financial services. the budget further prioritises sectors like agriculture, education, and employment generation, broadening the base for economic advancement and ensuring inclusivity in growth trajectories. This strategy is anticipated to catalyse a sustained recovery in consumer spending, especially at the grassroots level.
Seeing it Sector-wise, the budget is poised to benefit industries such as agro-chemicals, automobiles, capital goods, cement, infrastructure, retail, and tourism.
After Analysing the budget , The Regional President IACC , Mr Arun Karna MD AT & T , says The continued focus on “Garib” (Poor), “Mahilayen” (Women) , “Yuva” (Youth) and “Annadata” (Farmer) is provides a sense of continuity.
The Budget boldly addresses the critical issues of Employment, Skilling, MSME growth and Middle Class concerns. Furtherance after analysing the budget 2024-25
Mukesh singh Chairman UP Commiittee IACC said , union budget lays the foundation of Viksit bharat and the proposed budget is growth oriented which focuses on many sectors including Youth, Women and Farmers.
