The Union Budget 2024-25 presented on 23rd of July, is historical as it is conceived towards achieving the Hon’ble Prime Minister, Shri Narendra Modi’s dream of Viksit Bharat, a developed nation, by 2047, said Union Minister of State for Information & Broadcasting and Parliamentary Affairs, Dr. L. Murugan.

He said, Shri Narendra Modi’s victory for a record 3rd successive term will realise this dream come true, while addressing the media on Budget 2024-25, in Vijayawada on Saturday (July 27, 2024).

The National Democratic Alliance coming to power both at the Centre and in Andhra Pradesh will propel development in the State with double-engine power, he added.

Andhra Pradesh will be made Foreign Direct Investment (FDI) destination with the new government to build upon the 8.2% GDP growth recorded in 2023-24, and carry on with the reforms to make India a $5 trillion economy in the next couple of years. The FDI rules and policies have been simplified in order to boost revenue for Andhra Pradesh by inviting foreign direct investments.

The Minister said, the Social Welfare Sector segment has now received Rs 23 lakh-crore allocation, from a Rs 11 lakh-crore in the previous budget, with emphasis of an output-outcome focused framework to monitor the effectiveness of the programmes.

The substantially increased budgetary allocations for PM-Ayushman Bharat Health Infrastructure Mission, Pradhan Mantri Jan Arogya Yojana, and programmes for mental health will bolster improvements in health care, Dr. Murugan said.

The Budget also amplifies initiatives like PM Vishwakarma, PM SVANidhi, National Livelihood Missions, and Stand-Up India, empowering craftsmen, artisans, self-help groups, SC/ST and women entrepreneurs, and street vendors, which will create jobs and boost local economies, he said.

The Minister further maintained that flagship schemes aimed at enhancing infrastructure, teaching-learning resources, and nutritional support have received substantial boosts with Samagra Shiksha Abhiyan, PM-POSHAN and PM-SHRI receiving budget enhancements.

The Health Sector, he said, also got Rs. 5.85 lakh-crore doubling from a Rs 2.5 lakh-crore allocation, earlier. He pointed that the Union Budget records a 13 per cent increase in health allocation from last year, reflecting the government’s continued commitment to strengthening health care.

The Union Minister further noted that sectors, like Agriculture, Infrastructure and Renewable Energy have considerably been given utmost priority in the Budget caterings for Andhra Pradesh.

In next two years, about one crore farmers across the country will be initiated into natural farming supported by certification and branding, Dr. Murgan informed, adding that 10,000 need-based bio-input resource centres will be established, with a provision of Rs.1.52 lakh crore for agriculture and allied sector this year.

For achieving self-sufficiency in pulses and oilseeds, government will strengthen their production, storage and marketing and to achieve ‘atmanirbharta’ for oil seeds such as mustard, groundnut, sesame, soybean, and sunflower. The government, in partnership with the states, will facilitate the implementation of the Digital Public Infrastructure (DPI) in agriculture for coverage of farmers and their lands, he said.

In the, he said, it was announced that the government will undertake a comprehensive review of the agriculture research setup to bring the focus on raising productivity. New 109 high-yielding and climate-resilient varieties of 32 field and horticulture crops will be released for cultivation by farmers.

Speaking about Purvodaya, Dr. Murugan said, the government will formulate a plan, Purvodaya, for the all-round development of the eastern region of the country covering Bihar, Jharkhand, West Bengal, Odisha and Andhra Pradesh. This will cover human resource development, infrastructure, and generation of economic opportunities to make the region an engine to attain Viksit Bharat.

About Mudra Loans, he said, the Centre has enhanced the limit of Mudra loans to Rs. 20 lakh from the current Rs. 10 lakh for those entrepreneurs who have successfully repaid previously availed loans.

To strengthen manufacturing and service industries, and support MSME's, credit guarantee has been provided without collaterals for machinery up to Rs. 100 crore, for State-led growth. The turnover, he said, is reduced to Rs 250 crore from Rs. 500 crore to make borrowers stress-free and achieve financial stability.

Referring to the Skilling programme under Budget-2024-25, the Minister said a new Centrally-sponsored scheme, has been announced as the 4th scheme under the Prime Minister’s package, for skilling in collaboration with State governments and Industry. Around 20 lakh youth will be skilled over a 5-year period and 1,000 Industrial Training Institutes will be upgraded in hub and spoke arrangements with outcome orientation. He said, to help the youth, who have not been eligible for any benefit under government schemes and policies, a financial support was announced for loans upto Rs. 10 lakh for higher education in domestic institutions.

Dr. Murugan said, PM Surya Ghar Muft Bijli Yojana has been launched to install rooftop solar plants to enable 1 crore households obtain free electricity up to 300 units every month. The scheme has generated remarkable response, he said.

The Phase IV of Pradhan Mantri Gram Sadak Yojana (PMGSY) will be launched to provide all-weather connectivity to 25,000 rural habitations which have become eligible in view of their population increase.

Dr. Murugan said "special allocations" were made to Andhra Pradesh in the Union Budget after five years, citing "commitments" announced for the Polavaram Project, industrial corridors and others. He said, Rs 15,000 crore for the reconstruction of Andhra Pradesh this fiscal, additional funds for Polavaram Irrigation Project, funds for Vizag - Chennai Industrial Corridor and special funds for seven backward districts in Rayalaseema and North Andhra with special inclusion of Prakasam district. He said "special financial support" will be facilitated by the Union Government through multilateral agencies. The Minister said the Centre is "fully committed" to financing and early completion of the Polavaram Project which is the lifeline of Andhra Pradesh and its farmers.

 

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