The annual budget of a country holds significant importance in shaping its economic growth and development. And for a developing nation like India, the budget plays an even more crucial role. The budget is not just a financial statement, but it is a reflection of the government’s vision and priorities for the nation. In line with this, the recent budget announced by the Finance Minister, Nirmala Sitharaman, is a step in the right direction towards making India a ‘Viksit Bharat’ or a developed nation. The budget focuses on providing a powerful push to infrastructure, which is the backbone of any developed economy.
Infrastructure development has been a long-standing issue in India, hindering the country’s growth potential. However, with a renewed focus on this crucial sector, the budget promises to revolutionize India’s infrastructure landscape. The allocation of Rs. 100 lakh crore over five years for infrastructure development is a testament to the government’s commitment towards building a ‘New India.’
The budget has identified infrastructure as one of the key drivers of economic growth. It aims to propel the country’s GDP to $5 trillion by 2025, and infrastructure is expected to play a significant role in achieving this goal. The budget has allocated Rs. 1.7 lakh crore for transport infrastructure, including roads, highways, and railways. This will not only boost connectivity within the country but also enhance trade and commerce, leading to the overall development of the nation.
The budget has also given a major push to the renewable energy sector by allocating Rs. 2,700 crores for the development of solar parks. This move reflects the government’s commitment towards sustainable and clean energy sources. It is also in line with India’s global climate change commitments, promoting a greener and more eco-friendly future.
Another sector that has received a significant boost in the budget is the housing sector. The government’s flagship scheme, Pradhan Mantri Awas Yojana, has been allocated Rs. 27,500 crores, which will provide a major impetus to the affordable housing segment. This will not only address the issue of homelessness in the country but also create employment opportunities and boost the real estate sector.
The budget also focuses on improving the digital infrastructure of the country. The allocation of Rs. 6,000 crores for the BharatNet program, which aims to provide high-speed broadband connectivity to all village panchayats, will bridge the digital divide and pave the way for a digital India. The budget also proposes to set up data center parks across the country, promoting the growth of the IT industry and creating job opportunities.
The budget has also taken steps towards improving the healthcare infrastructure in the country. The allocation of Rs. 69,000 crores for the healthcare sector, which includes the launch of the ‘TB Harega Desh Jeetega’ campaign, will not only improve the healthcare facilities but also help in fighting against diseases like tuberculosis.
The budget gives a major thrust to the education sector as well, with the allocation of Rs. 99,300 crores for the education sector. This will help in improving the overall quality of education in the country and boost the research and development sector. It will also enable India to become a global hub for higher education and attract foreign students.
In addition to these measures, the budget has also announced a National Technical Textiles Mission with a four-year implementation period, which will provide a major boost to the textile industry. The budget also proposes to establish a National Recruitment Agency, which will streamline the recruitment process for government jobs and reduce the burden on job seekers.
The budget has also taken into consideration the needs of the rural and agricultural sector, with an allocation of Rs. 2.83 lakh crores. This will help in improving the agricultural infrastructure and promote the growth of the rural economy.
In conclusion, the budget for Viksit Bharat with a powerful push to infrastructure is a well-crafted and forward-looking budget. It addresses the major challenges faced by the country and lays the foundation for a strong and developed India. With its focus on infrastructure, the budget is poised to create a robust and sustainable economy, which will benefit every citizen of the country. It is a budget that instills hope and confidence in the future of India and sets the country on a path towards becoming a developed nation.
