Union Budget 2024-25 Lauded for Visionary Economic Growth and Social Welfare Initiatives

Union Minister Harsh Malhotra praised the Union Budget 2024-25 for its visionary policies that have driven significant economic growth and doubled social sector allocations. Key highlights include extensive support for agriculture, infrastructure, and skill development, with a focus on inclusive development targeting a developed India by 2047.

Union Minister of State for Road Transport and Corporate Affairs, Harsh Malhotra, hailed the Union Budget 2024-25 on Saturday, attributing India's significant economic growth to Prime Minister Narendra Modi's visionary policies. Speaking at a press conference in Shimla, Malhotra emphasized the budget's doubling of allocations for social sectors, from Rs 11 lakh crore to Rs 23 lakh crore, and highlighted the near doubling of health sector spending from Rs 2.5 lakh crore in 2017-18 to Rs 5.85 lakh crore.

Named GYAN, the budget prioritizes critical areas including support for the poor, youth, farmers, and women's empowerment. Agriculture and rural development have been allocated Rs 265,808 crore, featuring 109 new crop varieties and substantial support for natural farming. The Mudra loan limit has increased to Rs 20 lakh, aiming to generate employment for 20 lakh youth and upgrade 1,000 ITIs for skill development. Infrastructure receives Rs 1,111,111 crore, or 3.4% of GDP, with significant investments in road and rail projects.

Special focus is given to Himachal Pradesh, with tax devolution to the state increasing by 264% and grants-in-aid by 164%. The budget includes Rs 10,351.86 crore of net proceeds from Union taxes for the state, along with job creation and skill development programs, internships for one crore youth, and an expansion of the Aayushmaan Bharat scheme. Harsh Malhotra emphasized the budget's comprehensive approach, aiming for a developed India by 2047.