Budget 2024-2025: Farmers Flourish, Companies Cheer, but the Middle Class? Left with Crumbs!
The Union Budget for 2024-2025, presented on July 23, 2024, is a significant step towards achieving 'Viksit Bharat'. This budget empowers various stakeholders, including farmers, investors, MSMEs, employers, taxpayers, and students. Each group stands to benefit from specific initiatives designed to foster growth and inclusivity, although the middle class may feel they have received the short end of the stick.
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Farmers
The budget places a strong emphasis on agriculture, with several initiatives aimed at supporting farmers:
These measures aim to empower farmers, enhance their incomes, and ensure food security for the nation.
Investors
For investors, the budget presents a favourable environment with several key measures:
These initiatives aim to foster a conducive investment climate, encouraging both domestic and foreign investments in various sectors.
Micro, Small, and Medium Enterprises (MSMEs)
The budget recognizes the critical role of MSMEs in driving economic growth. Key measures include:
These initiatives aim to improve access to credit, streamline operations, and enhance the competitiveness of MSMEs.
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Employers
The budget also addresses the needs of employers, particularly in terms of job creation and workforce development:
These measures are designed to stimulate hiring and support employers in building a skilled workforce.
Taxpayers
The budget introduces several tax reforms aimed at simplifying the tax structure and providing relief to taxpayers:
These reforms are designed to enhance compliance, reduce the tax burden, and stimulate economic activity among taxpayers.
Students
Recognizing the importance of education and skill development, the budget includes significant allocations for students:
These initiatives are expected to enhance educational access and employment opportunities for students.
Conclusion
The 2024-2025 Indian Budget reflects a comprehensive approach to empower key stakeholders, including farmers, investors, MSMEs, employers, taxpayers, and students. By focusing on inclusive growth and economic empowerment, the budget sets the stage for a more developed and equitable India. The successful implementation of these initiatives will be crucial in realizing the vision of 'Viksit Bharat'.