Budget 2024-25: Full text of FM Nirmala Sitharaman’s speech, download here
Union Budget 2024-25: Masterstroke of FM Nirmala Sitharaman to Structurally Pivot Healthily and Deliver India toward Sustainable Growth and Development. It has an annual fiscal plan with glimpses of the future trajectory and the will of the government in changing equations for addressing a few of the key challenges being faced in all sectors and levering opportunities at an accelerating pace.
Key Highlights and Sectoral Allocations
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Healthcare and Infrastructural Development
Healthcare was one of the critical focuses of the budget, given enormous support to developing healthcare infrastructure and bringing medical facilities to the population of the nation. Feeling the pulse of robust healthcare systems all the more in the backdrop of challenges the globe went through lately, the government gave great support to the upgradation of hospitals and betterment in medical research facilities. It has also been able to maintain a difference in health facilities between rural and urban areas.
Education and Skill Development Initiative
The government should, therefore, pay urgent attention to education and skill development. That in particular, is incumbent on the government for empowering Indian youth with the knowledge and skill imperatives of the economy of tomorrow. Most recently, this has meant investing in education infrastructure, teacher training programs, and boosting vocational training initiatives to nurture provision of a skilled workforce that can drive innovation and competitiveness in today’s globalized economy.
In step with the new thinking of the government toward transforming India’s agricultural landscape, it had made provisions in the budget to move resources into the hands of empowered farmers by way of increased agricultural productivity and sustainable farming practices. Doubling farmers’ income, improving irrigation facilities, and building infrastructure related to agriculture only spelt a commitment toward rural development and food security.
Digital Transformation and Innovation
It has done a great job in underlining the agenda wherein technology is regarded as one of the keystones for economic growth and efficiency in India’s digital transformation. In this way, increasing expenditure on digital infrastructure, stepping up cybersecurity, and efforts dedicated to enhanced digital literacy and engendering innovation in areas such as Fintech and e-commerce would be ensured through this budget.
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Taxation Reforms and Fiscal Management
On the other hand, tax reforms remained at the top of the list, focusing on measures toward facilitating simplified compliance, promoting transparency, and boosting revenue mobilization. Taxation takes a bias more toward rationalizing tax structures and incentivizing compliance through voluntary tax compliance equipment and other supportive measures that ensure a stable and predictable tax regime, further boosting investors’ confidence in return for economic activities.
Download Full Text of FM Nirmala Sitharaman’s Speech
What follows here is the full text in PDF format download of the speech of Finance Minister Nirmala Sitharaman, Post Budget Presentation. This is an overall document that envelopes fiscal strategy by the government, sectoral allocations, policy initiatives, and reform measures taken toward attaining inclusive growth and sustainable development.
This budget speech, hence, in PDF format, acts as a very vital instrument of information and knowledge for all stakeholders, policymakers, economists, and more importantly the general public. This provides ample opportunities for very detailed scrutiny of all kinds of provisions made to the budget of different sectors of the economy, deliberation upon it in an efficient way, and strategic planning on the eventual implications.
The Union Budget 2024-25 will focus on economic governance through the convergent forces of inclusiveness, impetus on infrastructure betterment, and reforms in healthcare sectors in toto. It will also provide an enabling environment which is conducive to economic recovery, resilience, and long-term sustainability through continuance of the following identified focus areas: health, education, agriculture, and infrastructure.
Such strategic investments in important sectors may energize job creation and increase productivity, fostering innovation that will project India as an economy resilient and a forerunner in the global arena. The provisions in the budget further reiterate that the government is committed to meeting socio-economic challenges and leveraging the fast-emerging opportunities in this dynamic, fast-changing economic environment.
Conclusion
Against this backdrop, Union Budget 2024-25 has presented a multi-dimensional roadmap for recovery and growth of India amidst rising global uncertainty. While presenting her budget speech, Union Finance Minister Nirmala Sitharaman emphasized proactive measures by way of sectoral strategies and policy initiatives to make the economy resilient, development inclusive, and change sustainable.
Now that the text of the budget speech could be read in its entirety in PDF format, the fiscal priorities and policy directions this government is taking the country forward into the coming fiscal year can be broken down. It would mean the level of transparency that, at one level, opens accountability and, on the other, the door for informed decision-making in economic governance to collaborative efforts in a manner manifesting the socio-economic aspirations and hopes for India.
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