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Mains Answer Writing Latest Questions

Aryan Ps
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Asked: 2024-07-13T21:06:23+05:30 In: , ,

Budget

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What could be the key highlights in the 2024 budget to be presented by Mrs. Nirmala Sitaraman?

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3 Answers

  1. Nishanth
    Begginer

    The 2024 Interim Budget, set to be presented by Finance Minister Nirmala Sitharaman, is poised to address critical areas aimed at propelling India’s growth and development:

    1. Infrastructure Development: Expect a substantial increase in infrastructure spending focusing on roads, railways, and urban infrastructure to bolster connectivity and support economic expansion.
    2. Skill Development: Continued emphasis on the Skill India Mission to enhance employability and productivity among the youth, crucial for bridging skill gaps and building a more skilled workforce.
    3. Rural Empowerment: Anticipate initiatives aimed at boosting real income in rural areas and empowering the poor through enhanced agricultural productivity, rural infrastructure development, and better access to financial services.
    4. Inclusive Development: The budget is likely to emphasize inclusive growth by ensuring access to housing, water, electricity, and financial services for all households, aiming to distribute the benefits of economic progress across society.
    5. Economic Transformation: Highlighting the positive economic transformation achieved under the Modi government, the budget is expected to showcase structural reforms, pro-people programs, and initiatives fostering employment and entrepreneurship opportunities.

    These measures align with the government’s vision of a developed and self-reliant India (“Viksit Bharat”), laying a robust foundation for sustainable growth. The budget aims to foster an environment conducive to economic prosperity while ensuring equitable distribution of benefits across the populace.

  2. Keerthana Elsa Mammen
    Begginer

    The 2024 budget presented by Mrs. Nirmala Sitharaman focused on:

    1. Fiscal Prudence: The budget aims for a lower-than-expected fiscal deficit of 5.8% for FY24, showcasing the government’s commitment to maintaining fiscal discipline.

    2. Welfare Initiatives: There is a strong emphasis on welfare programs targeting youth, women, and farmers.

    3. Economic Growth: Continued support for economic growth and development is a priority. The budget includes measures to boost infrastructure, manufacturing, and digital economy sectors.

    4. Healthcare Initiatives: A significant healthcare initiative is the introduction of a vaccination program for girls aged 9-14 to prevent cervical cancer. This reflects the government’s focus on preventive healthcare.

    5. Agricultural Boost: The budget includes programs to increase the domestic output of oilseeds and support dairy farmers.

    6. Standard Deduction: The standard deduction has been doubled to ₹1 lakh.

    7. Housing Loan Interest: Increased tax breaks on housing loan interest to promote home ownership.

    8. Capital Gains Tax: Rationalization of the capital gains tax regime.

     

  3. Khushi
    Begginer

    The 2024 budget presented by Finance Minister Nirmala Sitharaman is likely to focus on several key areas aimed at fostering economic growth and stability in India. Key highlights might include:

    1. Infrastructure Development: Significant investments in infrastructure projects to boost economic activity and job creation. This could include new highways, railways, and urban infrastructure projects.
    2. Digital Economy and Technology: Increased funding for digital initiatives and technology development, promoting innovation, and expanding the digital infrastructure to enhance connectivity.
    3. Healthcare and Education: Enhanced budget allocations for healthcare and education to improve public health systems and educational outcomes, reflecting lessons learned from the COVID-19 pandemic.
    4. Agriculture and Rural Development: Initiatives to support farmers, such as subsidies, loan waivers, and investment in rural infrastructure, to ensure sustainable agricultural growth and rural development.
    5. Tax Reforms: Possible changes in tax structures, including relief for the middle class, rationalization of GST rates, and measures to improve tax compliance and administration.
    6. Environmental Sustainability: Investments in green energy and sustainability projects to address climate change and promote renewable energy sources.
    7. MSME Support: Enhanced support for Micro, Small, and Medium Enterprises (MSMEs) through credit facilities, subsidies, and policy support to stimulate growth and employment in this sector.
    8. Foreign Investment: Policies to attract foreign investment by simplifying regulations and offering incentives.

    These measures aim to balance economic growth with social welfare and environmental sustainability, ensuring inclusive development.

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