The Budget 24, presented by Finance Minister Nirmala Sitharaman, unfolds a comprehensive roadmap for the nation’s growth, emphasizing crucial sectors such as energy, housing, health, youth development, Nari Shakti, railways, agriculture, tourism, sustainable development, and education.
Energy
E-mobility takes centre stage with plans to expand the electric vehicle (EV) ecosystem, supporting manufacturing and charging infrastructure. The encouragement of e-bus adoption, backed by robust payment security mechanisms, aims to accelerate the transition towards sustainable public transport.
For the development of green growth, the budget introduces a bio-manufacturing and bio-foundry scheme, focusing on eco-friendly alternatives like biodegradable polymers, bioplastics, biopharmaceuticals, and bio-agri-inputs. Additionally, financial assistance for biomass aggregation machinery highlights the commitment to environmentally conscious practices.
Renewable energy gains momentum through the provision of viability gap funding for wind energy projects, targeting a capacity of 1 GW. The budget also addresses energy security by investing in coal gasification and liquefaction, with the goal of achieving a 100 MT capacity by 2030. The phased blending of compressed biogas (CBG) into both CNG for transport and PNG for households promises to bring sustainable energy solutions to the forefront.
Housing
In a bid to address housing challenges, the budget introduces schemes aimed at helping slum dwellers and those living on rent purchase or build their own houses. Additionally, a significant initiative under the Pradhan Mantri Awas Yojna, Gramin, plans to construct 2 crore more houses in the next five years. A new housing scheme specifically targeting the deserving middle class is also on the horizon.
Health
The budget prioritises girls’ health, offering vaccinations against cervical cancer for girls aged 9 to 14. Upgraded Anganwadi centres and expedited nutrition delivery for early childhood care further underline the commitment to comprehensive healthcare.
Expanding healthcare access, the Ayushman Bharat cover is extended to Asha and Anganwadi workers. The strategy includes setting up more medical colleges and utilising existing hospital infrastructure to bolster the healthcare workforce. Maternal and child healthcare schemes converge under a unified programme, streamlining efforts for more effective outcomes.
Youth: Empowering through Skills
The Skill India Mission continues to be a hope for youth empowerment, with over 14 million individuals trained and upskilled. The programme, spanning short-term and long-term training initiatives, operates through 20 central ministries, ensuring a holistic approach to skill development.
Nari Shakti: Empowering Women
Women entrepreneurs witnessed a boost with 30 crore Mudra Yojana loans disbursed. Female enrollment in higher education has seen a significant rise of 28% in the last decade, with 43% of women now enrolled in STEM courses. The budget also highlights the impactful role of self-help groups (SHGs), which assist 1 crore women to achieve financial success.
Railways
The PM Gati Shakti initiative takes centre stage in the railway sector, implementing three major corridor programmes to enhance multi-modal connectivity. A significant step is the conversion of 40,000 normal rail bogies to Vande Bharat standards, focusing on safety, convenience, and passenger comfort.
Agriculture and Food Processing
The budget aims to stimulate private and public investment in post-harvest activities. Innovative measures, including the application of Nano-DAP in all agro-climatic zones and the Atmanirbhar Oilseeds Abhiyaan, demonstrate a commitment to self-sufficiency in key agricultural sectors. The comprehensive programme for dairy development and increased focus on aquaculture under the Pradhan Mantri Matsaya Sampada Yojana further underline the government’s dedication to enhancing productivity and generating employment.
Tourism
Tourism receives a significant boost, with states encouraged to develop iconic tourist centres supported by long-term interest-free loans. The spotlight on port connectivity, tourism infrastructure, and amenities on islands, including Lakshadweep, promises to attract global attention.
Sustainable Development
The budget envisions solarization for 1 crore households, enabling them to obtain up to 300 units of free electricity per month. The emphasis on e-buses for public transport and support for manufacturing and charging infrastructure underscores the commitment to a sustainable and eco-friendly future.
Education
The Education Ministry’s Department of School Education and Literacy receives a significant allocation of ₹73,008.10 crore for the fiscal year 2024–25. Plans to set up more medical colleges and the establishment of a Rs 1 lakh crore corpus with a 50-year interest-free loan aim to strengthen the education sector.
