Finance Minister Nirmala Sitharaman's presentation of the Indian Budget for 2024-2025 emphasizes boosting economic growth through heightened infrastructure investments and tax reforms. The budget prioritizes inclusive growth by harnessing digital innovation and striving towards sustainable development goals, positioning India for economic resilience and enhanced global competitiveness in the upcoming fiscal year.
Here are some of the major announcements and reforms from her speech in Parliament. Discover how the new budget will shape India’s economy.
Source: MyGovIndia
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Narendra Modi Government 3.0 - Key Highlights from Budget 2024-2025
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Introduction of 5 new schemes for employment and skilling, with a total outlay of Rs. 2 lakh crore.
1. Expected to benefit 4.1 crore youth over the next 5 years.
2. Allocation of Rs. 1.48 lakh crore package for education, jobs, and skilling initiatives.
3. Government to provide one month's wage to all individuals entering the workforce.
4. Target to skill 20 lakh youth in the next 5 years; students eligible for a model skill loan of ₹7.5 lakh.
1. Expected to benefit 4.1 crore youth over the next 5 years.
2. Allocation of Rs. 1.48 lakh crore package for education, jobs, and skilling initiatives.
3. Government to provide one month's wage to all individuals entering the workforce.
4. Target to skill 20 lakh youth in the next 5 years; students eligible for a model skill loan of ₹7.5 lakh.
Outlay: Rs 1.52 lakh crore for Agriculture and Allied Sectors
1. 1 crore farmers will transition to natural farming.
2. 10,000 need-based bio-input resource centers will be established.
3. Large-scale clusters for vegetable production will be developed.
4. Digital Public Infrastructure in agriculture will cover 6 crore farmers and their lands.
5. A digital crop survey for Kharif will be conducted in 400 districts
1. 1 crore farmers will transition to natural farming.
2. 10,000 need-based bio-input resource centers will be established.
3. Large-scale clusters for vegetable production will be developed.
4. Digital Public Infrastructure in agriculture will cover 6 crore farmers and their lands.
5. A digital crop survey for Kharif will be conducted in 400 districts
Standing Firmly with Students
1. Revamped Model Skill Loan Scheme up to ₹7.5 lakh to benefit 25,000 students.
2. E-Vouchers for Higher Education up to ₹10 lakh for 1 lakh students annually.
3. A 3% interest subvention will be directly applied to the loan amount.
1. Revamped Model Skill Loan Scheme up to ₹7.5 lakh to benefit 25,000 students.
2. E-Vouchers for Higher Education up to ₹10 lakh for 1 lakh students annually.
3. A 3% interest subvention will be directly applied to the loan amount.