Union budget 2024: NDA government lists its priorities for Viksit Bharat
Union budget 2024: Centre has set nine priorities for achieving its ambition of Viksit Bharat
Union finance minister Nirmala Sitharaman on July 23 presented the annual budget in the Lok Sabha with a focus on Viksit Bharat (developed India) and announced the major priorities for it.
She said the people have given a unique opportunity to BJP-led NDA government to take the country on the path of strong development and all-round prosperity.
“In the interim budget, we promised to present a detailed roadmap for our pursuit of ‘Viksit Bharat’. In line with the strategy set out in the interim budget, this budget envisaged sustained efforts on nine priorities for generating ample opportunities for all,” said the finance minister.
Here's the list of priorities set by Centre for Viksit Bharat
Urban development: Government has encouraged states to lower stamp duties for properties purchased by women. It also announced Transit Oriented Development plans for 14 large cities with a population above 30 lakh and promote water supply, sewage treatment and solid waste management projects and services for 100 large cities through bankable projects. The finance minister said that needs of one crore urban poor and middle-class families will be addressed with an investment of ₹10 lakh crore.
Infrastructure: The government said it has set the provision of ₹11.11 lakh crore for infrastructure (3.4% of GDP), ₹1.5 lakh crore to states as long term interest free loans to support resource allocation. Meanwhile, phase four of Pradhan Mantri Gram Sadak Yojana (PMGSY) will be launched to provide all weather connectivity to 25,000 rural habitations.
Tourism: Centre has announced development of Vishnupad temple corridor and Mahabodhi temple corridor modelled on Kashi Vishwanath temple corridor. It said comprehensive development initiative for Rajgir will be undertaken which holds religious significance for Hindus, Buddhists and Jains. The development of Nalanda as a tourist centre besides reviving Nalanda University to its glorious stature is priority announced the finance minister. She said government is committed to develop Odisha’s scenic beauty, temples, monuments, craftsmanship, wildlife sanctuaries, natural landscapes and pristine beaches making it an ultimate tourism destination.
Rural and urban land related actions: Government said the land records in urban areas will be digitised with GIS mapping and it will create unique land parcel identification number for all lands. The government has also proposed survey of map sub-divisions as per current ownership
Productivity and resilience in agriculture: The government announced that one crore farmers across the country will be initiated into natural farming, supported by certification and branding in next 2 years. It also proposed to establish 10,000 need-based bio-input resource centres across the country. Moreover, financing for Shrimp farming, processing and export will be facilitated through National Bank for Agriculture and Rural Development (NABARD).
Employment and skilling: - The government has announced one month wage to new entrants in all formal sectors in three instalments up to ₹15,000, which is expected to benefit 210 lakh youth in the country. Government will also reimburse EPFO contributions of employers up to ₹3,000 per month for two years for all new hires and is expected to generate 50 lakh jobs.
Energy security: A joint venture between NTPC and BHEL will set up a full scale 800MW commercial plant said Centre and a announced that financial support for shifting of micro and small industries to cleaner forms of energy. For electricity storage and facilitation of smooth integration of the growing share of renewable energy, government is planning to bring in pumped storage policy.
Irrigation and flood mitigation: Finance minister on July 23 also annouced financial support for projects with estimated cost of ₹11,500 crore such as the Kosi-Mechi intra-state link and 20 other ongoing and new schemes. It also extended assistance for flood management and related projects in Assam, Sikkim and Uttarakhand, besides assistance for reconstruction and rehabilitation in Himachal Pradesh.
Innovation, research and development: The Centre announced operationalisation of the Anusandhan National Research Fund for basic research and prototype development, private sector-driven research and innovation at commercial scale with a financing pool of ₹1 lakh crore. It also announced to set up space economy, a a venture capital fund of ₹1,000 crore.
