Addressing Industry Leaders
Today, Prime Minister Narendra Modi will speak at the inaugural session of “Journey Towards Viksit Bharat: A Post Union Budget 2024-25 Conference.” The event, organized by the Confederation of Indian Industry (CII), will be held at Vigyan Bhawan in New Delhi at 12 pm. The conference aims to outline the government’s vision for growth and the role of industry in achieving this goal. Over 1,000 participants, including industry leaders, government officials, diplomats, and think tanks, will attend in person, with many more joining virtually from CII centers across India and abroad.
Union Budget 2024-25 Highlights
Finance Minister Nirmala Sitharaman presented the Union Budget 2024-25 on July 23. The budget focuses on job creation, support for MSMEs, agriculture, startups, and overall economic growth. Prime Minister Modi emphasized that the budget aims for inclusive growth, benefiting all segments of society and paving the way for a developed India.
Key Budget Measures
The Finance Ministry highlighted that India’s inflation remains low and stable, progressing towards a 4% target, with core inflation at 3.1%. Measures are being taken to ensure adequate market supply of perishable goods. The budget includes a significant package for employment, skills, and opportunities for 41 million youth over the next five years, with a central allocation of ₹2 lakh crore. This year, ₹1.48 lakh crore is earmarked for education, employment, and skill development.
Vision for ‘Viksit Bharat’
The budget outlines nine priorities to foster opportunities for all:
- Agriculture: Enhancing productivity and resilience.
- Employment and Skills: Creating job opportunities and skill development.
- Human Resource Development: Promoting inclusive growth and social justice.
- Manufacturing and Services: Boosting these sectors for economic growth.
- Urban Development: Advancing urban infrastructure.
- Energy Security: Ensuring reliable and sustainable energy.
- Infrastructure Improvement: Enhancing connectivity and facilities.
- Innovation and R&D: Supporting research and development.
- Next-Generation Reforms: Implementing forward-looking policies.
Support for Farmers
The budget plans to release 109 high-yielding, climate-resilient crop varieties. Over the next two years, 10 million farmers will be introduced to natural farming, with support for certification and branding. Additionally, 10,000 bio-input resource centers will be established.
Prime Minister Modi’s address today will provide further insights into the government’s plans and the critical role of industry in driving India’s journey towards becoming a developed nation.
(With inputs from agencies)
