PM hails Union Budget 2024-25 for driving 'national development'

New Delhi: Prime Minister Shri Narendra Modi has lauded the Union Budget for 2024-25 presented by Union Minister for Finance, Nirmala Sitharaman. The Prime Minister congratulated all citizens on the budget, which he believes will propel the nation to new heights of development.

Union Budget 2024-25 has allocated Rs 1.48 lakh crore for education, employment, and skilling, focusing on MSMEs and the middle class.

Prime Minister Modi emphasized that the budget is designed to empower all sections of society, particularly focusing on lifting poor farmers from rural areas towards prosperity. He noted that the budget ensures continuity in their empowerment and offers numerous employment opportunities.

The budget introduces significant advancements in education and skill development, targeting the enhancement of opportunities for the middle class, tribal communities, dalits, and backward classes. Modi highlighted that the budget fosters economic partnerships with women and outlines a new path for small businesses and MSMEs. It also provides a boost to manufacturing and infrastructure, aiming to strengthen economic growth while maintaining stability.

Reiterating the government's commitment to employment and self-employment, the Prime Minister spotlighted the Employment Linked Incentive scheme, which is expected to generate millions of jobs. Under this scheme, the government will cover the first salary of new employees. Additional provisions include increased support for higher education and an internship scheme for 1 crore youth.

Emphasizing the goal of fostering entrepreneurship across cities, villages, and households, Modi discussed the increase in the limit for collateral-free loans under the Mudra Loan scheme from Rs 10 lakhs to 20 lakhs. This move is anticipated to benefit small businesses, women, dalits, and other disadvantaged groups.

According to the federal government, the new budget scheme aims to enhance credit access for MSMEs, promoting manufacturing and exports across every district.