Budget 2024 highlights: Sitharaman highlights targets for 2047.

Union Finance Minister Nirmala Sitharaman presented the interim budget ahead of the Budget 2024 highlights Lok Sabha elections, marking the final budget of the Modi administration’s second term and her sixth as finance minister. Tradition dictated a meeting with President Droupadi Murmu at Rashtrapati Bhawan before the budget release. Sitharaman, along with Minister of State Dr. Bhagwat Kishanrao Karad, Shri Pankaj Chaudhary, and senior officials, received wishes from President Murmu.

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The Cabinet, led by Prime Minister Narendra Modi, approved the budget for the fiscal year 2024–25 before its formal presentation in Parliament. In this election year, Sitharaman faces the challenge of balancing public expectations for tax cuts with maintaining fiscal responsibility to sustain India’s status as the world’s fastest-growing economy, with an estimated growth of 7.3 percent for the current fiscal year.

Key points of the interim budget include acknowledging the changing Indian economy over the past decade and highlighting the government’s success in overcoming challenges since 2014 and implementing structural changes. Emphasis was placed on pro-people reforms, fostering an environment conducive to entrepreneurship, and job creation. Development initiatives aimed at providing hope and purpose to a substantial population were implemented.

During the second term, the government prioritized inclusion in social and geographic spheres as part of its development philosophy. The response to the challenges posed by the COVID-19 pandemic showcased national unity, paving the way for transformative changes and a move toward self-reliance.

Optimistic aspirations of the youth were acknowledged, and inclusive development strategies, focusing on providing basic services such as housing, water, electricity, cooking gas, and financial inclusion, were highlighted. The article also mentions initiatives to address food security by providing free rations to a significant portion of the population and supporting farmers through periodic increases in the Minimum Support Price.

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The government’s vision for 2047 involves comprehensive advancement touching every aspect of society, with the shared goal of inclusive development across all social classes and strata. Notable achievements include increased rural income attributed to the availability of essentials and a commitment to achieving India’s development goals by 2047.

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