Union Budget of India, Presentation and Analysis

Mar 7, 2024

On February 1st, 2024, the Indian Finance Minister, Smt. Nirmala Sitharaman, announced the interim budget for the financial year 2024-2025. In response to this, our PGDM 2023-2025 Finance students conducted a Presentation and Analysis through FINCOPS (PGDM Finance Club) to raise awareness among all students of NSOM.

Main Highlights of the Union Budget of India for the FY 2024-2025:

1. Economic Growth Targets: The budget outlines ambitious economic growth targets aiming to stimulate the Indian economy and promote sustainable development.

2. Infrastructure Investment: Significant allocations are made towards infrastructure development projects, including transportation, energy, and digital infrastructure, to enhance connectivity and drive economic growth.

3. Healthcare and Social Welfare: Increased focus on healthcare and social welfare initiatives, with enhanced budgetary allocations towards healthcare infrastructure, public health programs, and social security schemes to improve the quality of life for citizens.

4. Education and Skill Development: Emphasis on education and skill development initiatives to equip the workforce with the necessary skills for the future, including investments in education infrastructure, vocational training programs, and scholarships.

5. Agriculture and Rural Development: Measures to bolster the agriculture sector and rural development, including investments in irrigation, crop insurance, market infrastructure, and farmer support schemes to enhance agricultural productivity and income.

Learning Outcomes and Objectives:

1. Fiscal Discipline: The budget aims to maintain fiscal discipline while addressing key developmental priorities, ensuring prudent management of public finances to sustain economic stability.

2. Inclusive Growth: By prioritizing investments in healthcare, education, agriculture, and rural development, the budget seeks to foster inclusive growth and reduce socio-economic disparities across different segments of society.

3. Enhancing Competitiveness: Through investments in infrastructure and skill development, the budget aims to enhance India's competitiveness on the global stage, attracting investments, fostering innovation, and creating employment opportunities.

4. Sustainable Development: The budget focuses on promoting sustainable development by prioritizing investments in renewable energy, conservation of natural resources, and environmental protection measures to mitigate climate change risks and promote eco-friendly growth.

5. Strengthening Governance: The budget aims to strengthen governance mechanisms, promote transparency, and improve the efficiency of public expenditure delivery systems to ensure effective implementation of developmental programs and schemes.