Achieving 'Viksit Bharat': A comprehensive guide to Union Budget 2024-25, from agriculture to next generation reforms

Building a Developed India: The Union Budget 2024-25 charts a strategic course towards 'Viksit Bharat' or a developed India by focusing on nine key priorities. These initiatives aim to create abundant opportunities for all citizens, driving the nation toward a prosperous future.

Key Priorities for Progress

1. Agricultural Productivity and Resilience: Enhancing the farm sector to ensure sustainable growth and farmer prosperity.
2. Employment and Skilling: Equipping the young workforce with the necessary skills to meet industry demands, fostering innovation, and ensuring economic stability.
3. Inclusive Human Resource Development and Social Justice: Ensuring equitable access to opportunities for all citizens.
4. Manufacturing and Services: Boosting these sectors to create jobs, stimulate innovation, and enhance competitiveness.
5. Urban Development: Creating sustainable, smart cities with high-quality living standards.
6. Energy Security: Ensuring reliable, affordable, and sustainable energy sources.
7. Infrastructure: Modernizing transport, communication, and public facilities.
8. Innovation, Research, and Development: Fostering cutting-edge research and technological advancements.
9. Next Generation Reforms: Streamlining governance to enhance efficiency and promote economic growth.
Empowering Youth through Skilling and Employment

With a median age of 28, India boasts one of the youngest populations globally. The budget emphasizes skilling this demographic to harness the nation's demographic dividend. 65% of India's population is under 35, but many need more modern economic skills. Encouragingly, employability rates have improved from 34% to 51.3% in the past decade.

Government Initiatives
The government is committed to skill development through various initiatives, including:

● New Centrally Sponsored Scheme: Skilling 20 lakh youth over five years and upgrading 1,000 ITIs.
● Model Skill Loan Scheme: Revising loans up to ₹7.5 lakh with government-backed guarantees, benefiting 25,000 students annually.
● Ongoing Programs: Continued support for PMKVY, NPSDE, CTS, JSS, and NAPS, which have collectively trained millions.

Employment Boost

A robust package aims to bolster employment, targeting 4.1 crore youth over five years through:
Employment-Linked Incentive Schemes: Encouraging new workforce entrants, fostering job creation in manufacturing, and supporting employers.

Internships: Providing opportunities for 1 crore youth in top companies.
Women's Participation: Establishing hostels, crèches, and skilling programs to enhance employability and promote women-led enterprises.

A Vision for the Future

These comprehensive initiatives aim to equip India's youth with the skills and opportunities to thrive in a global economy, maximize the nation's demographic dividend and build a sustainable framework for long-term growth. With the Union Budget 2024-25, India is set on achieving 'Viksit Bharat,' ensuring a prosperous future for all.

(This article is a press release issued by India's Press Information Bureau)