The budget has announced exceptionally strong and impactful steps to achieve the vision of a Viksit Bharat focusing improving employability of youth with a provision of ₹ 1.48 lakh crore for education, employment and skilling this year. While funds are an important aspect of gaining education and skillsets, it is also necessary to have the infrastructure to impart these skills. The setting up of 1,000 Industrial Training Institutes with courses designed to meet the needs of the industry is an excellent step by the Government.
A large number of MSMEs have trouble accessing funds due to lack of assets or other financial criteria and the introduction of a new credit assessment model, based on the scoring of digital footprints of MSMEs will be a major game-changer and catalyze entrepreneurial dynamism across sectors boosting growth in the MSME sector.
The infusion of ₹1.52 lakh crore into the agri-sector not only nourishes the sector but also triggers a ripple effect that enhances productivity and boosts allied sectors like farm equipment, tractors, two-wheelers and tractor-trailers, etc.
This budget is not merely a fiscal plan; it's a strong roadmap for inclusive growth, resilience, and opportunity that lays the foundation for a thriving economy that embraces challenges as catalysts for transformation.
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Posted On: 25 Jul 2024 11:04 AM