Interim Budget Highlights: Increased opportunities for employment and entrepreneurship

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#Budget 2024 #indiabudget #budget #unionbudget #india #economy #newindiabudget

The much-awaited interim Budget ‘24-25 actually captured the nation’s attention, and gave voice to the business world & citizens’ expectations.

Finance Minister Nirmala Sitharaman has begun her Budget speech to present the Interim Budget 2024-25 at Parliament on February 1, a day after the commencement of the Budget Session. Earlier, PM Narendra Modi had hailed the Budget session as a “festival of women power”.

FM Nirmala Sitharaman opened the interim budget with remarks on entrepreneurship and opportunities.

Tracing when the movement when government came to power, it seriously took up San Ka Sath which led to Sab ka Vishwas. Success followed in its journey, and the nation is now looking at forging ahead. It is appropriate to look back at where we were then till 2014 and where we are now, expressed the Finance Minister.

Increased opportunities for employment & entrepreneurship

India’s economy has got new vigour. There will be increased opportunities for employment and entrepreneurship. More golden moments will realize the dream of India@2047.

Budget 2024 highlights several measures aimed at supporting entrepreneurs & small businesses in the country. Some of the key highlights include – increased funding for research and development, expanded access to finance, and support for job creation and training programs.

Additionally, the budget includes provisions to boost the digital sector and promote innovation, as well as ropes in measures to improve the business environment and simplify regulations. Overall, the Budget 2024 aims to stimulate economic growth and foster entrepreneurship, while also addressing some of the challenges faced by small businesses in the country.

Skill India Mission has trained 1.4 crore youth, upskilled and reskillled 54 lakh youth and established 3,000 new ITIs. PM Mudra Yojana has sanctioned 43 crore loans amounting to Rs.22.5 lakh crore for entrepreneurial aspirations of our youth.

@MSDESkillIndia @FinMinIndia #ViksitBharatBudget #Budget2024

With nari shakti gaining momentum in a growth-led economy, our FM announced some important developments that have empowered women in recent years. “Empowerment of women through entrepreneurship, ease of living and dignity has gained momentum in the last 10 years. Thirty crore MUDRA Yojana loans have been given to women entrepreneurs,” she said.

Appreciating the achievements of women in education, she noted, “Female enrolment in higher education has gone up by 28% in 10 years. In STEM courses, girls and women constitute 43% of enrolment, one of these highest in the world. All these are getting reflected in the increasing participation of women in the workforce.” Besides, the government has enhanced the dignity of women by making triple talaq illegal, reserving one-third seats for women in Lok Sabha and state legislative assemblies, and giving over 70% houses under PM Awas Yojana in rural areas to women as sole or joint owners.

Significantly, with an increased focus on women’s health, the FM announced that various schemes under maternal and childcare will be brought under one comprehensive programme for synergy in implementation. Also, upgradation of anganwadi centres under Saksham Anganwadi and Poshan 2.0 will be expedited for improved nutrition, early childhood care and development. A newly designed U-Win platform for managing immunization and intensified efforts of Mission Indradhanush will also be rolled out. “Ayushman Bharat healthcare cover under Ayushman Bharat will be extended to all ASHA workers, all anganwadi workers and helpers,” she said. With cervical cancer being the third most common cancer in India, at an incidence rate of 18.3%, the finance minister announced the government’s intent to promote vaccination.

Women are transforming the rural socio-economic landscape

Finally, the FM announced with pride that 83 lakh Self Help Groups (SHGs) with 9 crore women are transforming the rural socio-economic landscape. “Their success has helped 1 crore women to become lakhpati didis. Our target now is to have 3 crore lakhpati didis,” she exclaimed.

She rounded it by saying – “Our government is working towards development which is all-round, all-inclusive and all-pervasive. It covers all castes and people at all levels. We are working towards making India a Viksit Bharat by 2047”.

To conclude:

Budget 24 promotes growth and development of small and medium-sized enterprises (SMEs); it includes highlights for women in business and entrepreneurs as it aims to empower and support them to drive economic growth. Besides offering many financial benefits, it also provides training and skill development programs to help women entrepreneurs become more innovative and competitive in the market. Through Budget 24, the Indian government is trying to support businesses and entrepreneurs and create a more inclusive and empowered ecosystem – for them to thrive.

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