Exclusive/ Budget met economic parameters, launched people-centric schemes: Piyush Goyal

Interim Budget 2024: Minister of Commerce and Industry, Piyush Goyal, highlighted the government's efforts towards the welfare of the public and the vision for a prosperous future for India in an exclusive interview with Arnab Goswami, Editor-in-Chief, Republic Media Network.

"We have significant job generation and low unemployment rates. In every aspect, the country is in a position to dream big. This interim budget and the one to be finalised in July, are laying the roadmap for Amrit Kaal which will define India's road to prosperity for 140 crore Indians," said Goyal

Welfare initiatives highlighted

Goyal emphasised that 11 crore families have received free toilets, while 20 crore are now leading better lives. Additionally, 60 crore individuals are benefitting from free healthcare, and 4 crore families have received permanent housing for the underprivileged. 

The minister underscored that providing essential amenities such as electricity, roads, education, and food align with the Prime Minister's singular objective.

Dreams within reach

"We are the 5th largest economy with strong fundamentals and a high growth rate in exports. Controlling inflation, interest rates, and significant job generation have positioned India to dream big," said Goyal.

He added that the country has doubled its foreign exchange reserves, creating a foundation for aspiring to larger goals.

Highlighting the achievements, Goyal affirmed, "Now, we are in a position to dream big and aspire for bigger goals as a nation because basic needs like electricity, roads, education, food, and healthcare are in place.

Interim Budget 2024 overview

The Interim Union Budget 2024, presented by Finance Minister Nirmala Sitharaman, reflects the government's focus on inclusive growth and various sectors. The budget emphasises policies benefiting farmers, women, youth, and the underprivileged, showcasing equal resource distribution. Key highlights include the extension of the Ayushman Bharat-Pradhan Mantri Jan Arogya Yojana to ASHA and Anganwadi workers, aiming to boost women's empowerment.

Budgetary allocations reveal significant funding for defence, road transport, railways, consumer affairs, and rural development. The capital expenditure for FY25 sees an 11.1 per cent increase to Rs 11.11 lakh crore, with a focus on reducing fiscal deficit below 4.5 per cent by FY26.

The government's flagship Direct Benefit Transfer (DBT) has played a role in empowering the poor, resulting in savings of Rs 2.7 lakh crore. The Pradhan Mantri Awas Yojana highlights women's empowerment, with over 70 per cent of houses allocated to women as sole owners.

The budget calls for innovation with a Rs 1 lakh crore corpus for a 50-year interest-free loan to encourage research and innovation, particularly in tech-savvy youth and defence production. Rooftop solarisation has been introduced, providing one crore households with up to 300 units of free electricity monthly.

Overall, the budget signals a comprehensive approach to address various economic and infrastructural challenges, aligning with the government's vision of "sarvangin, sarvsparshi, and samavesh" for a developed India by 2047.