Key Highlights of Job-Centric Budget 2024: A comprehensive blueprint for sustainable economic growth

In her Budget Speech for 2024-25, Finance Minister Nirmala Sitharaman outlined the government’s priorities and initiatives aimed at fostering inclusive growth and development across India.

- Sanjeev Puri

The interim budget’s commitments were reiterated, particularly focusing on four key groups: the poor (‘Garib’), women (‘Mahilayen’), youth (‘Yuva’), and farmers (‘Annadata’). Notable measures included higher Minimum Support Prices for crops and the extension of the Pradhan Mantri Garib Kalyan Anna Yojana, benefiting over 80 crore people.

The key theme of the 2024-25 budget centers on job creation, skilling, support for MSMEs, and strengthening the middle class. Finance Minister Sitharaman introduced the Prime Minister’s package of five schemes aimed at creating opportunities for 4.1 crore youth over five years, with a central outlay of Rs 2 lakh crore. A significant allocation of Rs 1.48 lakh crore was earmarked for education, employment, and skilling initiatives.

The budget outlines nine priorities, including agriculture, employment, inclusive human resource development, manufacturing, urban development, energy security, infrastructure, innovation, research, development, and nextgeneration reforms. These priorities are part of the government’s strategy to propel India towards comprehensive development and prosperity.

Specific actions for agriculture were detailed, such as enhancing productivity and resilience through research, releasing new crop varieties, promoting natural farming, and boosting pulses and oilseeds production. The Digital Public Infrastructure for Agriculture initiative aims to digitize farming operations across the country, benefiting millions of farmers.

In the realm of employment and skilling, the government introduced three schemes under the Employment Linked Incentive program. These schemes aim to support first-time employees, encourage job creation in manufacturing, and provide incentives to employers hiring additional workers. Special emphasis was placed on increasing women’s participation in the workforce through infrastructure support and skill development programs tailored to their needs.