Union Budget 2024: The government's efforts to promote equitable growth will continue to prioritize welfare programs

 Union Budget 2024: The government's efforts to promote equitable growth will continue to prioritize welfare programs

In Budget 2023–24, capital investment outlays to support inclusive development initiatives were raised by 33% to Rs 10 lakh crore, or around 3.3% of GDP.

Under the PM Kisan Samman Nidhi, around Rs 2.2 lakh crore were distributed to more than 11.4 crore farmers.

One of the seven pillars under the Amrit Kaal vision, inclusive development of the Narendra Modi administration, will remain a focal point of the Union Budget 2024–2025.

To achieve the goal of "Sabka Saath, Sabka Prayas," inclusive development programmes like Ujjwala, Jal Jeevan Mission, PM Kisan, and Swachh Bharat are essential.

The administration aspires to a knowledge-based, technology-driven economy with robust public finances and the financial sector.

The Budget 2023–24 had seven objectives that served as Saptarishis to direct the Amrit Kaal. In her budget statement, Finance Minister Nirmala Sitharaman listed seven key sectors: youth power, green growth, inclusive development, reaching the last mile, infrastructure and investment, and unleashing potential.

These key industries are probably going to be the main emphasis of the budget that the finance minister will submit on February 1, 2024. The main goal of government policy is to lessen poverty by developing all societal segments (Sabka Saath, Sabka Vikas). and disparities.

With programs like PM Awas Yojana, MNREGA, Ujjwala, and Jal Jeevan, it aims to enhance the quality of life for everyone, including the most vulnerable members of society, by generating revenue, providing social security, and providing a means of subsistence.

The budget statement for 2023–2024 states that the Swachh Bharat Mission resulted in the construction of around 11.7 crore domestic restrooms. Since its beginning in 2014, the mission—the biggest sanitation project in the world—has resulted in the declaration of roughly 5.92 lakh villages free of open defecation.

In the course of the PM Ujjwala project, around 9.99 crore LPG connections were made available to rural and impoverished households across the nation in need of clean fuel. About 2 crore of these households were connected via Ujjwala 2.0.

A little over 47.8 crore PM Jan Dhan bank accounts were established, while 44.6 crore people received insurance coverage under the PM Suraksha Bima and PM Jeevan Jyoti Yojana, according to the FY23 budget paper.

Over 11.4 crore farmers received transfers totaling over Rs 2.2 lakh crore under the PM Kisan Samman Nidhi program.

In order to fund inclusive development initiatives, the Budget for 2023–2024 boosted capital investment outlays by 33% to Rs 10 lakh crore, or around 3.3% of GDP.