India Budget 2024

published on 25 July 2024

The 2024 budget was the seventh consecutive budget presented by Finance Minister Nirmala Sitharaman. The budget lay emphasis on nine priorities: Agriculture Productivity and Resilience, Employment and Skilling, Human Resources Improvement, Social Justice, Manufacturing and Services, Urban Development, Energy Security, Infrastructure, Innovation, Research and Development, and Next-gen Reforms.

As a welcome preposition, the government would also be directly contributing to private sector employment aiming to boost hiring with initiatives that support job creation. This would be done with an allocation of INR 2 trillion for new schemes focused on creating jobs and skilling 41 million youth. This is part of a broader focus on employment and rural development. Other announcements include new technology initiatives in labour laws and digital mapping of land. The proposal to reform the Insolvency and Bankruptcy Code (IBC) and strengthening of tribunals is also an important step.

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