India's 2024-2025 budget. The positves and negatives

 India’s 2024-2025 budget, presented by Finance Minister Nirmala Sitharaman, is all about boosting growth, creating jobs, and moving the country forward with modern infrastructure and technology. Here’s a quick look at the most important points:

1. Economic Growth and Jobs

  • Growth Target: The budget aims for a 7.5% growth in India’s GDP, focusing on increasing investments and spending to drive the economy forward.
  • Job Creation: New schemes are introduced to create jobs, especially in manufacturing and infrastructure. The "Skill India 2.0" program is also expanding, focusing on training in fields like AI, robotics, and green energy.

2. Building Infrastructure

  • National Infrastructure Pipeline (NIP): A big chunk of the budget is dedicated to infrastructure projects, including roads, railways, and urban development, aiming to complete existing projects and start new ones.
  • Better Connectivity: The budget plans to modernize the railway network and improve road connections in rural areas, helping to integrate these regions into the broader economy.

3. Digital and Tech Push

  • Digital India 2.0: The budget includes new initiatives to boost the use of technology across the country, making digital services more accessible and promoting innovation.

This budget shows India’s commitment to growing the economy, improving infrastructure, and embracing new technologies to ensure a prosperous future.

The 2024-2025 budget, while ambitious, has faced some key criticisms:

1. Limited Social Welfare Support

  • Insufficient Aid: Critics argue that the budget doesn’t provide enough support for vulnerable groups, with limited increases in healthcare, education, and unemployment relief, especially for those in the informal sector.

2. Environmental Shortcomings

  • Sustainability Gaps: The budget is seen as lacking strong commitments to environmental sustainability and climate action, with only modest investments in green energy and little focus on broader environmental issues.

3. Fiscal Concerns

  • Rising Debt and Inflation Risks: There are worries that increased spending could lead to higher debt and inflation, potentially threatening economic stability and disproportionately affecting lower-income populations.

In summary, while the budget aims for growth, it’s criticized for not doing enough in social welfare, environmental sustainability, and managing fiscal risks.

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