Article: Interim Budget 2024: Reflecting on India's decade of economic transformation

Economy & Policy

Interim Budget 2024: Reflecting on India's decade of economic transformation

Finance Minister Nirmala Sitharaman initiated her Budget speech to introduce the Interim Budget 2024-25 at Parliament on Thursday, February 1, marking a notable moment in India's economic scenario.
Interim Budget 2024: Reflecting on India's decade of economic transformation

As Finance Minister Nirmala Sitharaman began her Budget speech to present the Interim Budget 2024-25 at Parliament on Thursday, February 1, it represented a significant juncture in India's economic landscape. Against the backdrop of the commencement of the Budget Session, Sitharaman embarked on a discussion aimed at documenting India's decade-long economic evolution. With a focus on fiscal management and development strategies, the stage seems to be set for an analytical exploration of the nation's journey towards growth and stability. Here’s how. 

In the address, Union Finance Minister Nirmala Sitharaman spoke of the evolution witnessed by the Indian economy over the past decade. Speaking on the occasion of presenting the Interim Budget for 2024, Sitharaman emphasised the profound transformation that has unfolded, attributing it to effective economic management complemented by a steadfast commitment to people-centric development.

Highlighting the tangible impact of this economic journey, Sitharaman pointed out that the average income of individuals has surged by a notable 50% during this period. Such a substantial increase underscores the strides made towards enhancing the financial well-being of citizens across the nation.

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Moreover, the FM underscored the government's dedication to empowering women. 

  • Emphasised the significance of initiatives like reservation for women in the Lok Sabha and State assemblies
  • Highlighted the provision of houses under the Awas Yojana to women in rural areas
  • Stressed the tangible benefits and the enhancement of dignity and socio-economic status of women in society

Further exemplifying the commitment to women empowerment, Sitharaman highlighted that 34 crore Mudra Yojana loans have been disbursed to women entrepreneurs, fostering a conducive environment for female-led enterprises to flourish.

As the nation charts its course forward, Sitharaman emphasised the imperative of focusing on four major demographic groups: the poor, farmers, youth, and women. This strategic focus, she asserted, would serve as the cornerstone for ensuring inclusive growth and equitable development across all segments of society.

In essence, the Interim Budget for 2024 reflects not only the economic achievements of the past decade but also the government's steadfast commitment to fostering an environment conducive to prosperity and well-being for all citizens, thereby laying a robust foundation for India's continued growth trajectory.

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Topics: Economy & Policy, #HRTech, #HRCommunity

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