Budget 2024: A Gateway to Inclusive Growth and Sustainable Development
- Janaki Parvati
- Feb 4, 2024
- 2 min read
Budget 2024 sets a benchmark for economic progress, focusing on enhancing infrastructure, promoting digital inclusion, and ensuring equitable growth across all sectors. This is how the budget aims to impact various areas of the Indian economy.
Key Highlights
Infrastructure Boost: Major investments in physical, digital, and social infrastructure to drive growth.
Digital Public Infrastructure: Enhancements in digital services for broader formalization and financial inclusion.
Taxation: Efforts to deepen the tax base with continued emphasis on GST, alongside maintaining supportive tax regimes for businesses and individuals.
Financial Sector: Measures to revitalize savings, credit, and investment channels, boosting economic recovery.
Global Financial Gateway: GIFT IFSC is positioned as a global hub for capital and financial services, attracting international investments.
Inflation Management: Proactive steps to keep inflation in check, ensuring stable economic conditions.
Inclusive Growth: Initiatives to involve all regions of the country in the economic growth process.
Focus Areas
Garib Kalyan, Desh ka Kalyan: Savings from direct benefit transfers, significant poverty reduction, and credit support for street vendors.
Youth Empowerment: Skill development for 1.4 crore youth and support for entrepreneurial ventures through loans.
Farmer Welfare: Financial assistance, crop insurance, and modernized agriculture markets for farmers.
Women Empowerment: Loan support for women entrepreneurs and initiatives to boost female education and employment.
Environmental initiatives aiming for 'Net Zero' by 2070, renewable energy projects, and support for green transportation.
Infrastructure projects like railway corridors, airport development, and urban transformation efforts.
Health programs, housing schemes, and nutrition projects to improve the quality of life for all citizens.
Special emphasis on agriculture and food processing to enhance productivity and self-reliance.
Continued support for startups and investments, maintaining favorable tax rates for businesses and individuals.
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