Budget 2024 /Interim Budget for 2024-25, a pivotal moment for our nation. Over the past decade, India has undergone remarkable transformation, fueled by the resilience and aspirations of its people. before going ahead let’s try understand what is Interim Budget ?
Types of Budget :
There are two types of budgets: the Full Budget and the Interim Budget. The Full Budget is presented by the government before the Lok Sabha elections, while the Interim Budget is presented before the elections and covers only a specific period until the new government takes office. Although the Interim Budget is limited in scope, it still provides important insights into the government’s plans and policies.
Key Achievements and Highlights
Over the years, the Indian government has achieved significant milestones in its budgetary plans. Here are some noteworthy achievements:
1. Economic Growth
India has witnessed remarkable economic growth in recent years. The country achieved the milestone of a $1 trillion GDP in 2007-2008, $2 trillion in 2014-2015, and $3 trillion in 2021-2022. The government aims to reach $5 trillion by 2026-2027, according to current estimates. These achievements demonstrate India’s progress in becoming a developed nation.
2. Poverty Alleviation
The government has implemented various measures to reduce poverty and promote inclusive growth. In the last 10 years, around 25 crore people have been lifted out of multidimensional poverty. The implementation of direct benefit transfers and the total coverage of the Pradhan Mantri Jan Dhan Yojana have contributed to this success.
READ MORE ABOUT BUDGET 2024 BELOW3. Structural Reforms
The government has focused on implementing structural reforms to boost the economy. These reforms have included policy changes in various sectors, such as agriculture, trade, and infrastructure. The introduction of the National Agricultural Market and the increase in trading volumes have improved the efficiency and transparency of agricultural markets.
4. Job Creation
The government has prioritized job creation and entrepreneurship. The introduction of new policies and initiatives has provided opportunities for the youth and encouraged innovation. The emphasis on skill development and the promotion of the Startup India campaign have opened avenues for employment and self-employment.
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5. Women Empowerment
Women empowerment has been a key focus area for the government. Various schemes and initiatives have been launched to promote gender equality and women’s participation in the economy. The Beti Bachao Beti Padhao campaign and the provision of financial support through the Pradhan Mantri Jan Dhan Yojana have played a crucial role in empowering women.
6. Agriculture Reforms
The government has brought about significant reforms in the agriculture sector. The introduction of the National Agricultural Market and other initiatives have aimed to improve farmers’ income and provide them with better market access. These reforms have helped farmers get fair prices for their produce and enhanced their overall well-being.
Conclusion
The budget presented by the Indian government reflects its economic policies and priorities. It is a comprehensive document that outlines the government’s revenue and expenditure plans for the upcoming fiscal year. Over the years, the government has achieved significant milestones in terms of economic growth, poverty alleviation, job creation, and women empowerment. The focus on structural reforms and agriculture has further strengthened the economy. The government’s efforts are aimed at creating an inclusive and self-reliant India, and the budget plays a crucial role in achieving these goals.
