Finance Minister Nirmala Sitharaman outlined nine key priorities in the Union Budget 2024, aimed at guiding India towards strong development and all-round prosperity. These priorities are essential for achieving the goal of a “Viksit Bharat” (Developed India) by 2047.
1. Productivity and Resilience in Agriculture
• Focus: Enhancing agricultural productivity and resilience.
• Initiatives: Allocation of ₹1.52 lakh crore for agriculture and allied sectors. Emphasis on agricultural research, climate-resilient crop varieties, and promoting natural farming practices among one crore farmers over two years.
2. Employment and Skilling
• Focus: Creating jobs and enhancing skills.
• Initiatives: ₹1.48 lakh crore allocated for education, employment, and skilling. Employment-linked skilling schemes, direct benefit transfers for first-time employees, and incentives for employers to hire new workers.
3. Inclusive Human Resource Development and Social Justice
• Focus: Ensuring inclusive growth and social justice.
• Initiatives: Programs aimed at uplifting marginalized communities, improving access to education and healthcare, and promoting social equity.
4. Manufacturing and Services
• Focus: Boosting the manufacturing and services sectors.
• Initiatives: Incentives for manufacturing, support for MSMEs, and measures to enhance the competitiveness of the services sector.
5. Urban Development
• Focus: Developing urban infrastructure and smart cities.
• Initiatives: Significant investments in urban infrastructure, public transportation, and smart city projects to improve urban living standards.
6. Energy Security
• Focus: Ensuring sustainable and secure energy supply.
• Initiatives: Promotion of renewable energy projects, incentives for electric vehicles, and measures to enhance energy efficiency and reduce carbon emissions.
7. Infrastructure
• Focus: Building robust infrastructure.
• Initiatives: Large-scale investments in highways, railways, ports, and airports to improve connectivity and support economic growth.
8. Innovation, Research, and Development
• Focus: Fostering innovation and R&D.
• Initiatives: Support for research institutions, incentives for innovation, and funding for cutting-edge technologies to drive economic progress.
9. Next Generation Reforms
• Focus: Implementing forward-looking reforms.
• Initiatives: Structural reforms aimed at improving governance, enhancing ease of doing business, and ensuring long-term economic stability.
These nine priorities reflect the government’s commitment to creating ample opportunities for all sections of society and laying the foundation for a prosperous and resilient India. The budget’s focus on these areas is expected to drive sustainable growth and development in the coming years.
