Nirmala Sitharaman Says Budget Focuses On Inclusivity, Development In Counter To Opposition Charges

Here are the highlights from Finance Minister Nirmala Sitharaman's response to the Union Budget 2024 debate at the parliament on Tuesday:

• Overall Government Expenditure: The government's expenditure has grown to Rs 48.21 lakh crore.

• Agricultural Allocation: The budget allocates Rs 8,000 crore more to agriculture compared to last year, bringing the total agricultural budget to Rs 1.23 lakh crore, which is 3.3 times higher than in 2019.

• Education: The allocation to education has increased by 23% compared to last year.

• Health and Social Welfare: The allocation for health and social welfare has increased by Rs 3,000 crore compared to last year.

• Capital Expenditure: The budget's capital expenditure (capex) is 3.3 times that of 2019.

• Jammu and Kashmir: Rs 17,000 crore has been allocated to Jammu and Kashmir, with a focus on development.

• Unemployment: The unemployment rate for the 15-59 age group decreased to 4.7% in 2022-23, down from 6.4% in 2020-21.

• Small Agriculture Loans: Loans to small agriculture farmers have increased to 76%, up from 57% in 2014.

• Mudra Loans: Rs 29 lakh crore in Mudra loans have been disbursed this year.

• Development for SC, ST, Women, and Backward Classes: The allocation for these groups has increased. The allocation for women's development has increased to over Rs 88,000 crore.

• Investor Base: The registered investor base at the NSE has tripled from March 2020 to March 2024, with 9.2 crore Indians investing by March 31, 2024.

• Housing Construction: The spend on housing construction increased to Rs 35 lakh crore in the financial year 2022-23.

Sitharaman finally spoke about the 'Halwa Ceremony' before the Union Budget 2024. “When did this become a photo event? In 2013-14, the halwa was distributed by the Finance Minister from the UPA government. Did someone ask them how many SC, STs were there?”

On July 29, Rahul Gandhi, the Leader of Opposition, took a dig at the traditional halwa ceremony, calling it the 'budget ka halwa'. Where he displayed a photo of the halwa ceremony in Parliament, and questioned that why there were no Dalit, adivasi or backward class officer in the photo.

"West Bengal's share in total industrial production of India fell to 3.5% from 24% during independence," the Finance Minister commented after a certain economist compared the state's economy today with the British era.

The employment for youth in 2024 has been increased to 51% in comparison to 34% in 2014, said Finance Minister Nirmala Sitharaman.

The government has increased its allocation for women to over Rs 88,000 crore in this fiscal, the Finance Minister said in Lok Sabha. She also added women's participation in the labour force has also seen an increase.