Budget 2024 Live: Key Highlights and Analysis

Introduction

The Union Budget of India for the financial year 2024-25 was presented on February 1, 2024, by the Finance Minister, Nirmala Sitharaman. The budget outlined the government's fiscal plans and economic policies for the upcoming year. It contained several key announcements that will impact various sectors of the economy, including infrastructure, healthcare, education, and social welfare.

Key Highlights of Budget 2024

Here are some of the key highlights of Budget 2024:

• Increased infrastructure spending: The government allocated a significant portion of the budget to infrastructure development, including transportation, energy, and digital infrastructure.
• Focus on healthcare: The budget included substantial investments in healthcare, with a focus on improving access to healthcare services, especially in rural areas.
• Education reforms: The government announced several initiatives to improve the quality of education in India, including increased funding for primary and secondary education and reforms to the higher education system.
• Social welfare schemes: The budget included a number of social welfare schemes aimed at providing support to vulnerable populations, such as the elderly, women, and farmers.
• Fiscal deficit target: The government set a fiscal deficit target of 5.9% of GDP for the financial year 2024-25, indicating a commitment to fiscal consolidation.

Analysis of Budget 2024

The budget has received mixed reactions from economists and industry experts. Some have praised the government's focus on infrastructure and social welfare, while others have expressed concerns about the high fiscal deficit and the lack of concrete measures to address unemployment.

The increased infrastructure spending is expected to boost economic growth and create new jobs. However, the government will need to ensure that these projects are implemented efficiently and transparently.

The investments in healthcare are also welcome, especially in light of the challenges posed by the COVID-19 pandemic. However, it remains to be seen whether the government will be able to effectively address the issue of access to healthcare services in rural areas.

The education reforms have the potential to improve the quality of education in India, but the government will need to provide adequate funding and support for these reforms to be successful.

The social welfare schemes included in the budget are a positive step towards providing support to vulnerable populations. However, the government will need to ensure that these schemes are properly implemented and targeted to those who need them most.

Overall, Budget 2024 contains several important announcements that could have a significant impact on the Indian economy. However, the government will need to ensure that these policies are implemented effectively and efficiently in order to achieve the desired results.

Budget 2024 Live