Despite the global economy remaining under policy uncertainties, India's economic growth remains the shining exception and will remain so in the years ahead. Minister of Finance and Corporate Affairs Nirmala Sitharaman, while presenting the Union Budget 2024-25 in Parliament, said that India's inflation continues to be low, stable and moving towards the 4 per cent target. Core inflation (non-food, non-fuel) currently is 3.1 percent and steps are being taken to ensure supplies of perishable goods reach the market adequately. The Finance Minister said that as mentioned in the interim budget, the focus is on four major castes, namely 'Garib' (Poor), 'Mahilayen' (Women), 'Yuva' (Youth) and 'Annadata' (Farmer).
In presenting the Budget theme, Sitharaman said, turning attention to the full year and beyond, we particularly focus on employment, skilling, MSMEs, and the middle class in this budget. She announced the Prime Minister's package of 5 schemes and initiatives to facilitate employment, skilling and other opportunities for 4.1 crore youth over a 5-year period with a central outlay of ₹2 lakh crore. This year, ₹1.48 lakh crore has been allocated for education, employment and skilling.
This story is from the August 2024 edition of EPR Magazine (Electrical & Power Review).
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This story is from the August 2024 edition of EPR Magazine (Electrical & Power Review).
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