Finance Minister Nirmala Sitharaman has concluded presenting the Interim Budget 2024-25, with a major focus on empowering farmers, women, youth, and the poorest population.
Sitharaman said the government’s highest priority is the poor, women, farmers, and youth. It was widely expected that the government would focus on enhancing farmers’ income, empowering women, and creating more jobs for the youth.
She further added that the economy is doing well with the government’s focus on ‘Sabka Sath, Sabka Vikas’ and that inflation has been successfully controlled.
Sitharaman highlighted that the focus of the government is on the poor, women, youth, and farmers. “We need to focus on Garib, Mahilayen, Yuva, and Annadata (poor people, women, youth, and farmers); their needs and aspirations are our highest priorities,” she said.
Highlighting the government’s commitment to farmers, Sitharaman noted the periodic increase in minimum support prices for crops in line with the government’s focus on enhancing farmers’ income.
“For the welfare of our annadata, every year, under PM Kisan Samman Yojana, direct financial assistance is provided to 11.8 crore farmers. Crop insurance is given to 4 crore farmers under the PM Fasal Bima Yojana. Our prosperity depends on equipping and empowering the youth, she emphasized.
Sitharaman affirmed that the Indian economy is doing well and that all areas of growth are performing better than expected. “We have macroeconomic stability. Investments are robust. The economy is doing well,” she said.
She stated that inflation is under control and that it has moderated.
“Besides delivering on high growth, the government is equally focused on a more comprehensive GDP, i.e., governance, development, and performance,” she added.
In her presentation, Sitharaman gave a major push to infrastructure, including railways, aviation, and ports. She said the capital expenditure outlay for next year increased by 11.1 percent to Rs 11.11 lakh crore.
The Finance Minister proposed maintaining the current tax rates for both direct and indirect taxes, including export duties. “There is no proposed change in the taxation rates,” said Sitharaman.