In a significant move towards worker welfare, Finance Minister Nirmala Sitharaman announced the comprehensive integration of the e-Shram portal with other government portals. This step aims to streamline and enhance the accessibility of various benefits for workers across the country. The e-Shram portal, launched to create a national database of unorganized workers, will now be more effectively utilized by connecting it with other relevant platforms.
A major boost for the space technology sector is on the horizon. Sitharaman revealed the establishment of a venture capital fund amounting to ₹ 1000 crore dedicated to encouraging the development of space technology. This fund will support startups and innovators in this high-tech field, aiming to position India as a leader in space exploration and related technologies.
Cultural heritage received a significant nod with the announcement of the comprehensive development of the Vishnupad Temple Corridor and the Mahabodhi Temple Corridor. These projects are expected to not only preserve and enhance these historic sites but also boost tourism and local economies in the respective regions.
Addressing the perennial issue of floods in Assam, the Finance Minister declared that the government will provide substantial assistance for flood management and irrigation projects in the state. This initiative aims to mitigate the devastating effects of floods and improve agricultural productivity through better irrigation infrastructure.
The government’s commitment to capital expenditure continues with a robust allocation for FY25. Sitharaman announced a significant ₹ 11.11 lakh crore towards CAPEX, underscoring the administration’s focus on infrastructure development and economic growth through substantial public investment.
In a bid to promote renewable energy and provide affordable power, the PM Surya Ghar Muft Bijli scheme was launched. This ambitious initiative aims to install rooftop solar panels for 1 crore households, facilitating a greener and more sustainable energy future for India.
Urban development received a significant boost with the announcement of a scheme to develop 100 street food hubs in select cities over the next five years. This initiative aims to enhance urban food culture, support small businesses, and promote tourism by creating vibrant street food destinations.
Focusing on urban mobility and infrastructure, the government plans to formulate transit-oriented development programmes for 14 large cities with populations exceeding 30 lakh. These programmes will aim to integrate land use and transport planning to create efficient, sustainable, and livable urban spaces.
Stay tuned for more updates as we continue to cover the key announcements and implications of Union Budget 2024.
