"Budget has doubled allocations for social sectors," says MoS Harsh Malhotra

Shimla (Himachal Pradesh) [India], July 27 (ANI): Union Minister of State for Road Transport and Corporate Affairs Harsh Malhotra on Saturday lauded the Union budget 2024-25 and said that due to the visionary policies initiated by Prime Minister Narendra Modi, the country has achieved significant economic growth.
"The significant growth of the Indian economy has reached 8.2 per cent over the past ten years due to Prime Minister Modi's visionary policies. The budget has doubled allocations for social sectors, increasing from Rs 11 lakh crore to Rs 23 lakh crore. Health sector spending has also nearly doubled, from Rs 2.5 lakh crore in 2017-18 to Rs 5.85 lakh crore," said Harsh Malhotra at a press conference in Shimla.
"The budget, named GYAN, focuses on four critical areas: the poor (Gareeb), youth (Yuva), farmers (Annadata), and women empowerment (Nari Shakti). For agriculture and rural development, Rs 265,808 crore has been allocated, including provisions for 109 new crop varieties and extensive support for natural farming. The Mudra loan limit has been increased from Rs 10 lakh to Rs 20 lakh, aiming to generate employment for 20 lakh youth over the next five years and upgrade 1,000 ITIs for skill development.
"A significant Rs 1,111,111 crore has been allocated for infrastructure, representing 3.4 per cent of the GDP. This includes substantial investment in road and rail projects, with Rs 2,698 crore specifically for railway development," he said.
He said that the state of Himachal Pradesh has received special attention in the budget, with tax devolution to the state increasing by 264 per cent and grants-in-aid increasing by 164 per cent. Special assistance for capital expenditure includes Rs 3,500 crore allocated between 2020 and 2023, with provisions for interest-free loans. Additionally, Rs 10,351.86 crore of net proceeds from Union taxes have been allocated to the state.
The budget also includes provisions for job creation and skill development, with internships for one crore youth, an internship fee of Rs 5,000, and a budget of Rs 2,000 crore. Housing projects will see the construction of 3 crore new houses, including 2 crore in rural areas. The health sector will see an expansion of the Aayushmaan Bharat scheme to benefit individuals over 70 and Anganwadi and Asha workers without economic criteria.
Harsh Malhotra, Minister of State for Road Transport and Corporate Affairs, endorsed the budget, stating, "During the past ten years, under the leadership of Narendra Modi, the BJP-led government has achieved remarkable growth. The budget presented by Finance Minister Nirmala Sitharaman is a foundation for the Viksit Bharat vision targeting 2047. It is an all-encompassing budget reflecting the government's commitment to inclusive development.
He said that the 2024-2025 budget reflects the NDA government's dedication to sustaining economic growth and enhancing social welfare. With a comprehensive and inclusive approach, the government aims to ensure that all segments of society benefit from the nation's progress, paving the way for a developed India by 2047. (ANI)