Budget 2024 Focuses On Solar Energy, EVs, Agriculture, Housing, Healthcare
Finance Minister Nirmala Sitharaman presented the interim budget for 2024, the last budget of the current Modi government before the upcoming Lok Sabha elections. The budget focuses on several key areas to improve the economy and the well-being of the people. One major highlight is the rooftop solarisation project, which will allow 1 crore households to receive up to 300 units of free electricity every month through solar energy under PM Suryodaya Yojana. The budget also plans to boost entrepreneurship and create jobs in manufacturing and maintenance for electric vehicles.
The government is also focusing on agriculture, especially after harvesting, with investments encouraged in storage, processing, and marketing of agricultural products. A new scheme will help middle-class families in rented homes, slums, or unauthorized areas buy or build their own houses.
Healthcare is another focus area, with more medical colleges set up and a special vaccination program for girls to prevent cervical cancer. Special efforts will be made in agriculture to increase farmers’ incomes by reducing post-harvest losses and enhancing productivity.
The budget promotes foreign investment and allocates Rs. 75,000 crores as interest-free loans for state reforms. A committee will be formed to address societal changes due to population growth. The fiscal deficit for 2023–24 is 5.8% of GDP, with the government aiming to reduce it to 4.5% by 2026.
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