Budget 2024: Path to a Viksit Bharat through inclusivity, entrepreneurship, innovation and climate resilience

Budget 2024 looks perfectly aligned with the Prime Minister’s vision of Viksit Bharat by 2047 while staying committed to the fiscal deficit glide path. It continues to build on the themes of the interim budget such as focus on Capex outlay to drive growth, rural development, inclusiveness and sustainability. What stands out is the focus on jobs Given, the emphasis over the past years, on the four key sections of the economy  — the poor, women, youth, and farmers, Budget 2024 looks poised to promote rural livelihoods specially for women led SHGs, boost private investment while supporting MSMEs, enhance skilling to ensure employability , and encourage startups by finally removing the angel tax . I am delighted to see the continued focus on women and girls with allocation of more than 3 lakh crore for schemes therein . 

 

With regards to water and sanitation specifically, emphasis on water supply, liquid and solid waste management including the agricultural uptake of treated wastewater, have been amply highlighted in the budget with suitable allocations. These are areas well in sync with the current phases of Swachh Bharat Mission urban and rural. There is about a 3% increase in the budgetary allocation for SBM rural from the last fiscal (INR 7192 Cr. for FY2024-25). On the other hand the budgetary allocation for SBM Urban shows almost a twofold increase over the previous year (INR 5000 Cr. for FY 2024-25). The figures indicate continued emphasis on water and sanitation in both urban and rural settings. The Union government, in collaboration with states and multilateral development banks, will also promote water supply, sewage treatment, and solid waste management projects in 100 large cities through bankable projects. These initiatives will also include the use of treated wastewater for irrigation and replenishing nearby tanks. These measures aim to support the long-term roadmap for ensuring the nation’s water security, as advocated by FICCI in its 100-day agenda to the government.