Key Takeaways From Prime Minister Modi's Speech On 'Inclusive And Innovative' Interim Budget 2024

Prime Minister Narendra Modi on Thursday (1 February) hailed the interim Budget 2024 as “not merely an interim budget but an inclusive and innovative budget".

In a speech in Hindi after Finance Minister Nirmala Sitharaman presented the Interim Budget for 2024, the Prime Minister said the decisions taken in the budget will not only help the development of advanced 21st-century infrastructure but also lead to the generation of "countless" new employment opportunities for youth. 

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Commending Finance Minister Nirmala Sitharaman for her vision, Prime Minister Modi stated, "Nirmala Ji's budget is a budget for building the future of the country."

Strengthening Infrastructure and Empowering Youth

PM Modi said this budget "carries the guarantee of strengthening the foundation of Viksit Bharat by 2047".

Stating that the Budget reflects the young aspirations of young Bharat, PM Modi said two key decisions have been taken in this direction - setting up a Rs 1 lakh-crore fund for research and innovation, and increasing tax exemption for startups. 

While keeping the fiscal deficit under control, the Prime Minister stated that the total capital expenditure has seen a historic increase to Rs 11,11,111 crore in this budget.

“In economists’ parlance, this is a kind of sweet spot," PM Modi said.

Enhancing Comfort in Rail Travel and Housing Achievements

He also highlighted the announcement to manufacture 40,000 modern bogies of Vande Bharat Standard and install them in general passenger trains which will further heighten comfort and travel experience of crores of passengers on different rail routes of the country. 

Asserting that his government sets high targets, achieves them and then aims even higher, PM Modi said over 4 crore houses have been constructed for the poor in villages and cities, and the government is now aiming to build 2 crore more.

Empowerment of Women and Health Benefits

PM Modi said a target had been set to make 2 crore women 'Lakhpati Didis', which has now been revised to 3 crore.

The 'Lakhpati Didi' scheme provides skill development training to women in self-help groups (SHGs) to enable every SHG household to earn an income of at least Rs 1 lakh a year.

"The Ayushman Bharat health insurance scheme has helped the poor in a big way and Anganwadi and ASHA workers will now also benefit from it. In this Budget, there has been a big push for empowering the poor and people from the middle class, and generating new avenues of income generation for them," the PM said.

Solar Programme and Tax Relief

"The rooftop solar programme will enable 1 crore families to not only get free electricity but earn an additional Rs 15,000 to Rs 20,000 a year by selling the surplus power to the government," he added.

The Prime Minister said the income tax remission scheme announced today in the budget will provide relief to about 1 crore citizens belonging to the middle class.

Agricultural Reforms

PM Modi said that use of Nano DAP, new scheme for animals, expansion of PM Matsya Sampada Yojana and Atma Nirbhar oil seed campaign announced in the budget will increase the income of farmers and reduce their expenses. 

"I once again congratulate the countrymen for this historic budget," PM Modi concluded.

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