The Union Budget for 2024 has introduced a transformative vision aimed at fostering inclusive growth and social justice across India. With a focus on empowering diverse segments of society, this budget is set to make a significant impact on various fronts.
One of the standout features of this budget is its commitment to an all-encompassing development approach. It seeks to uplift farmers, youth, women, and economically disadvantaged groups through a range of programs in education and health. By enhancing the capabilities of these groups, the budget aims to ensure that every individual has the opportunity to contribute to and benefit from the country’s growth.
The “Purvodaya” initiative is another key highlight, focusing on boosting economically rich states in Eastern India, such as Bihar, Jharkhand, West Bengal, Odisha, and Andhra Pradesh. This plan aims to generate substantial economic opportunities and support the broader vision of a developed Bharat. A major aspect of this initiative is the development of an industrial node at Gaya within the Amritsar-Kolkata Industrial Corridor, which is expected to spur regional development and economic activity.
Financial support is also being extended to Andhra Pradesh, with Rs. 15,000 crores allocated for the fiscal year 2024-25 in line with the Andhra Pradesh Reorganization Act. This funding will support ongoing development projects and infrastructure improvements in the state.
The completion of the Polavaram Irrigation Project is a significant milestone included in the budget. This project is essential for ensuring the nation’s food security by boosting agricultural productivity and supporting rural communities.
Infrastructure development is a major focus, with substantial investments planned in critical areas. The budget outlines the enhancement of water, power, railways, and roads in key nodes such as Kopparthy on the Vishakhapatnam-Chennai Industrial Corridor and Orvakal on the Hyderabad-Bengaluru Industrial Corridor. These improvements are expected to enhance connectivity and drive regional economic growth.
In housing, the Pradhan Mantri Awas Yojana will see a considerable expansion with the addition of three crore houses in both rural and urban areas. This initiative aims to improve living conditions and provide affordable housing for millions of families.
A notable commitment to gender equality is reflected in the allocation of over Rs. 3 lakh crore for schemes benefiting women and girls. This substantial investment underscores the government’s dedication to promoting women-led development and empowering women through various programs.
The Pradhan Mantri Janjatiya Unnat Gram Abhiyan is another important initiative, focusing on improving the socio-economic conditions of tribal communities. This program will benefit around 5 crore tribal people across 63,000 villages by enhancing infrastructure, education, and health services.
To promote financial inclusion, the budget includes the establishment of more than 100 branches of the India Post Payment Bank in the North-Eastern region. This expansion will provide better banking services and financial access to residents in this area.
Overall, the Union Budget for 2024 reflects a comprehensive strategy for inclusive growth and social justice, aiming to uplift various communities and regions while driving national development and equity.
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