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Highlights of the Interim Union Budget 2024-25

February 1, 2024
Reading Time: 2 minutes
  • …Nirmala Sitharaman Emphasises That Amrit Kaal Should Be Kartavya Kaal For Realizing The Vision Of ‘Viksit Bharat’
  • …Every Challenge Of Pre-2014 Era Overcome Through Economic Management And Good Governance: Fm
  • …Government To Present A Detailed Roadmap For Pursuit Of ‘Viksit Bharat’ In The Full Budget In July
  • …Rs. 75,000 Crore Worth 50-Year Interest Free Loan To States To Realise Vision Of ‘Viksit Bharat’

Amrit Kaal as Kartavya Kaal

The Minister said that the Government stands committed to strengthen and expand the economy with high growth and to create conditions for people to realize their aspirations. Smt. Sitharaman quoted the Prime Minister from his Independence Day address to the nation, in the 75th year of our Republic, and said, “We commit ourselves to national development, with new inspirations, new consciousness, new resolutions, as the country opens up immense possibilities and opportunities”. She said that it is indeed our ‘Kartavya Kaal’.

She highlighted that every challenge of the pre-2014 era was overcome through economic management and good governance. The Minister said, “These have placed the country on a resolute path of sustained high growth.  This has been possible through our right policies, true intentions, and appropriate decisions.”

Smt. Sitharaman also said, “In the full budget in July, our Government will present a detailed roadmap for our pursuit of ‘Viksit Bharat’.”

Reforms in the States for ‘Viksit Bharat’

The Minister noted that many growth and development enabling reforms are needed in the states for realizing the vision of ‘Viksit Bharat’. In this regard, she announced seventy-five thousand crore rupees as fifty-year interest free loan to support those milestone-linked reforms by the State Governments. 

High-Powered Committee to consider challenges arising from fast population growth

Smt. Sitharaman stated that the Government will form a high-powered committee for an extensive consideration of the challenges arising from fast population growth and demographic changes. The committee will be mandated to make recommendations for addressing these challenges comprehensively in relation to the goal of ‘Viksit Bharat’, she added.

 Development of aspirational districts & blocks

Smt. Nirmala Sitharaman said that through ‘Aspirational Districts Programme’the Government stands ready to assist the states in faster development of aspirational districts and blocks, including generation of ample economic opportunities.

Development of East

Stressing on the Government’s focus on the development of the EastUnion Minister for Finance also said that the Government will pay utmost attention to make the eastern region and its people a powerful driver of India’s growth.

Infrastructure

  • Capital expenditure outlay for Infrastructure development and employment generation to be increased by 11.1 per cent to Rs.11,11,111 crore, that will be 3.4 per cent of the GDP.

Railways

  • 3 major economic railway corridor programmes identified under the PM Gati Shakti to be implemented to improve logistics efficiency and reduce cost
    • Energy, mineral and cement corridors
    • Port connectivity corridors
    • High traffic density corridors
  • Forty thousand normal rail bogies to be converted to Vande Bharat standards.

Aviation Sector

  • Number of airports in the country doubled to 149.
  • Five hundred and seventeen new routes are carrying 1.3 crore passengers.
  • Indian carriers have placed orders for over 1000 new aircrafts.
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