New Delhi, In a significant move ahead of the Lok Sabha elections, Union Finance Minister Nirmala Sitharaman presented the Interim Budget 2024, highlighting key fiscal strategies for the transition period. This interim budget is poised to guide the country’s finances until the formation of the new government post-elections.
Interim Budget Essentials:
– Sitharaman elucidated the nuances of an interim budget, designed to manage financial obligations during an election year. The comprehensive budget for the fiscal year 2024-25 will be presented after the new government is formed.
Key Announcements:
1. Technology Research Boost: A groundbreaking ₹1 trillion corpus was earmarked for research in technology, emphasizing a commitment to innovation. Sitharaman hinted at a forthcoming scheme to fortify deep tech technologies, particularly for defense purposes and self-reliance.
2. Railway Modernization: Railway Minister Ashwini Vaishnaw revealed a ₹2.52 lakh crore budget allocation for Railways, highlighting a shift in strategy under Prime Minister Modi’s leadership to modernize and invest in railway infrastructure.
3. Cervical Cancer Prevention: The finance minister’s emphasis on women’s health garnered praise from experts like Dr. Naresh Trehan, with a specific focus on anganwadis, vaccination for young girls against cervical cancer, and the significant move to extend Ayushman coverage to Anganwadi and ASHA workers.
Political Responses:
– Congress Critique: Opposition leader Supriya Shrinate criticized the government, asserting it is in denial mode and claimed a dip in real income, contrasting with the government’s narrative of a 50% increase.
– DMK’s Perspective: DMK MP T Siva accused the Modi government of waiting for the next full Budget, expressing confidence in the INDIA bloc winning the upcoming elections.
Economic Corridors, Housing for the Middle Class, and More:
– Sitharaman touched upon various sectors, from announcing three major economic railway corridors to allocating funds for housing solutions for the middle class. The budget also delved into tourism projects in Lakshadweep, the expansion of key rail infrastructure projects, and the defense outlay set at 3.4% of GDP.
Public Welfare and Empowerment:
– The finance minister highlighted key welfare measures, including extending Ayushman Bharat cover to Anganwadi and ASHA workers, integration of maternal and child healthcare schemes, and an enhanced target for the Lakhpati Didi scheme.
Looking Ahead:
As the political landscape gears up for elections, Sitharaman’s interim budget sets the stage for a transformative fiscal roadmap. The ambitious allocations across sectors signal a commitment to addressing contemporary challenges and fostering holistic development.
Stay informed with Magadh Today for detailed coverage and analysis of Interim Budget 2024.
