The Interim Budget presented by Finance Minister Nirmala Sitharaman earlier this month failed to reflect its commitment towards the development of minorities. This becomes evident through various reasons, including the discontinuation of several schemes and institutions.
India wants to be among the top 3 world economies by 2047, which is dependent on greater spending on education, health and social welfare schemes. But the Interim Budget harks back to lower allocation trends.
The increase in funds allocated for improving the quality of life in urban areas by 12 percent, as pledged in the Interim Budget, is positively received.
In 2015, the Government of India launched its Smart Cities Mission, envisioned as the lighthouse of city development. With a total of 100 cities included in its proposal, this flagship programme received budgetary support and continued to dominate urban planning discussions.
As the fastest-growing large economy of the world, India is a beacon of light
The interim 2024-25 budget of the Union government of India presented on 1 February 2024 is a constructive step towards a Viksit Bharat by the end of Amrit Kaal in 2047. The government’s vision for Viksit Bharat as stated by the finance minister in her Budget Speech is that of “Prosperous Bharat in harmony with nature, with modern infrastructure, and providing opportunities for all citizens and all regions to reach their potential."
This year’s Union Budget was a vote of account, which is a provision in the budgetary process that allows the government to obtain the approval of Parliament for essential expenditures for a limited period before the full Budget is presented.