The Union Budget 2024-25, presented by the Finance Minister, Smt. Nirmala Sitharaman, has introduced several new government schemes that are specifically aimed at promoting growth and development across various sectors. For instance, from agriculture to education, and healthcare to infrastructure, this budget lays out a comprehensive plan for India’s future. In this blog, we’ll explore the list of government schemes budget 2024-25, with a focus on how they impact key sectors such as agriculture, education, healthcare, and more.
More On Government Scheme
Government schemes are programs created by governments to tackle various social, economic, and developmental issues. Their main goal is to improve the quality of life for citizens, especially those who are vulnerable or marginalized. These schemes cover many areas, including health, education, agriculture, employment, and infrastructure. For example, poverty alleviation schemes offer financial support to low-income families, while employment generation programs focus on creating job opportunities through skill development and training.
In healthcare, initiatives not only aim to make medical services more affordable and accessible, but also enhance overall patient care. Additionally, education support schemes provide scholarships and resources, thereby helping children from disadvantaged backgrounds attend school. Moreover, infrastructure projects invest in essential services like roads, housing, and utilities, ultimately improving living conditions. Additionally, social welfare programs ensure that marginalized communities receive the assistance they need.
Key Announcements in Budget 2024-25
The Budget 2024-25 has made several key announcements that are expected to have a significant impact on various sectors. Here’s a summary of some of the most important schemes and initiatives:
- Agriculture and Rural Development: Introduction of a new crop insurance scheme and expansion of subsidies for sustainable farming practices.
- Education and Skill Development: Launch of the PM Narendra Modi Scholarship for 12th pass students and expansion of digital skill development centers.
- Healthcare and Wellness: Expansion of health insurance coverage under Ayushman Bharat and new wellness programs.
- Infrastructure Development: Boost in infrastructure spending with new projects in highways, railways, and urban housing, alongside the PM Solar Yojana initiative.
- Financial Inclusion and Taxation: Introduction of the Modi 2 Lakh Loan Scheme and simplification of tax filing processes.
Government Schemes in Budget 2024-25 Listed
The 2024-25 budget has placed significant emphasis on various sectors crucial to India’s growth. Here, let’s look at the scheme provided by the government in budget 2024
Rooftop Solarisation Scheme
The Rooftop Solarisation Scheme, officially known as PM Surya Ghar Muft Bijli Yojana, is a significant initiative launched by the Indian government to promote the adoption of solar energy at the household level.
Key Features of the Scheme:
- Free Electricity: Under this scheme, one crore households will receive up to 300 units of free electricity per month.
- Rooftop Solar Panels: To avail of the benefit, households need to install rooftop solar panels.
- Government Subsidy: The government provides financial assistance to cover a portion of the installation cost.
- Environmental Benefits: Promotes clean and renewable energy, reducing carbon emissions.
- Economic Benefits: Helps reduce electricity bills for participating households.
Objectives of the Scheme:
- Increase the adoption of solar energy in India.
- Reduce dependency on fossil fuels.
- Promote energy independence at the household level.
- Create employment opportunities in the solar energy sector.
Atmanirbhar Oil Seeds Abhiyan
Atmanirbhar Oil Seeds Abhiyan is a significant initiative by the Indian government to reduce the country’s dependence on imported edible oils. It aims to achieve self-sufficiency in oilseed production.
Key objectives of the Abhiyan:
- Increasing domestic oilseed production: To reduce reliance on imports and ensure food security.
- Promoting research and development: To develop high-yielding and resilient oilseed varieties.
- Adopting modern agricultural practices: To enhance oilseed productivity and quality.
- Strengthening market linkages: To ensure remunerative prices for farmers and smooth supply chains.
- Promoting value addition: To increase the domestic processing of oilseeds.
- Providing crop insurance: To protect farmers against crop losses.
Viksit Bharat by 2047
Viksit Bharat translates to Developed India. It is a vision set forth by the Indian government to transform India into a developed nation by the year 2047, coinciding with the 100th anniversary of India’s independence.
Core Objectives of Viksit Bharat:
- Economic Prosperity: Achieving sustainable and inclusive economic growth, creating employment opportunities, and improving the standard of living for all citizens.
- Social Development: Reducing poverty, inequality, and social exclusion, ensuring access to quality education, healthcare, and housing for all.
- Infrastructure Development: Building modern infrastructure, including transportation, energy, digital connectivity, and urban development.
- Technological Advancement: Fostering innovation, research, and development to drive economic growth and improve people’s lives.
- Environmental Sustainability: Protecting the environment, promoting renewable energy, and ensuring sustainable development.
- Good Governance: Strengthening democratic institutions, promoting transparency, and enhancing public service delivery.
Pradhan Mantri Janjatiya Unnat Gram Abhiyan (PMJUGA)
Pradhan Mantri Janjatiya Unnat Gram Abhiyan is a significant government initiative aimed at improving the socio-economic conditions of tribal communities residing in rural areas.
Key objectives of PMJUGA:
- Saturation Coverage: To provide universal coverage for tribal households in tribal majority villages and aspirational districts.
- Holistic Development: To ensure comprehensive development of tribal areas by addressing infrastructure gaps, healthcare, education, livelihood opportunities, and basic amenities.
- Targeted Approach: To specifically focus on the welfare and development of tribal communities, which often face marginalization and lack of access to mainstream development benefits.
NPS Vatsalya
NPS Vatsalya is a new pension scheme introduced in the Union Budget 2024 for minors. It allows parents or guardians to open a National Pension System (NPS) account for their children and contribute to it regularly until the child turns 18.
Key Features of NPS Vatsalya:
- Early Start: Parents can start saving for their child’s future from a young age.
- Long-term Benefits: The power of compounding can significantly grow the corpus over time.
- Tax Benefits: Similar tax benefits as regular NPS might be available (consult a tax advisor for specific details).
- Conversion to Regular NPS: Upon reaching 18, the account can be seamlessly converted to a regular NPS account.
Employment Linked Incentive Schemes
Employment Linked Incentive Schemes (ELIS) are government initiatives designed to promote job creation and encourage employers to hire more workers. These schemes typically provide financial incentives to businesses that meet specific employment targets or invest in skill development for their employees.
Objectives:
- Job Creation: Encourage businesses to expand their workforce.
- Skill Development: Support training programs to enhance employee skills.
- Economic Growth: Stimulate economic activity by increasing employment opportunities.
- Social Welfare: Aid marginalized groups in securing jobs.
Key Features:
- Financial Incentives: Direct subsidies or tax benefits for companies that hire new employees.
- Targeted Support: Focus on specific sectors or demographics, such as youth, women, or the unemployed.
- Skill Development Programs: Funding for training initiatives that improve job readiness.
- Performance Monitoring: Regular assessments to ensure compliance with employment targets.
Examples of ELIS:
- Pradhan Mantri Rojgar Protsahan Yojana (PMRPY): Offers incentives to employers for creating new jobs.
- Skill India Mission: Focuses on enhancing skills and employability of the workforce.
- Atmanirbhar Bharat Rojgar Yojana: Supports job creation in the wake of economic challenges.
Agriculture and Rural Development
Agriculture has always been the backbone of the Indian economy, and this budget continues to prioritize this sector. New schemes aimed at improving agricultural productivity, enhancing rural infrastructure, and providing financial support to farmers were announced.
- New Government Schemes 2024: The government introduced several initiatives to promote sustainable farming practices and enhance water conservation efforts.
- PM Modi Schemes List: The budget includes expanded subsidies for fertilizers and seeds, as well as the introduction of a new crop insurance scheme designed to protect farmers from unpredictable weather patterns.
Education and Skill Development
Education and skill development are key to driving India’s growth story. The budget has laid out several schemes aimed at improving access to quality education and enhancing skill development programs to better prepare the youth for future job markets.
- PM Narendra Modi Scholarship for 12th Pass Students Apply Online: The authorities introduced a new scholarship scheme for meritorious students to reduce the financial burden on families and encourage higher education.
- Skill Development Initiatives: The budget announced the expansion of skill development centers across rural and urban areas, with a focus on digital skills and vocational training.
Healthcare and Wellness
The healthcare sector remains a top priority, especially in the wake of the COVID-19 pandemic. The budget has introduced new schemes focused on expanding healthcare infrastructure, improving access to medical services, and promoting wellness.
- Modi New Scheme 2024: A significant healthcare initiative introduced is the expansion of health insurance coverage under the Ayushman Bharat scheme, aimed at providing affordable healthcare to more citizens.
- Wellness Programs: New wellness programs focused on preventive healthcare, including subsidies for fitness and wellness centers, were also introduced.
Infrastructure Development
Infrastructure development is crucial for economic growth, and the 2024-25 budget has introduced several schemes aimed at improving transportation, housing, and urban development.
- New Government Schemes 2024: The budget includes a massive boost to infrastructure spending, with new projects in highways, railways, and urban housing development.
- PM Solar Yojana: The government announced a new initiative under the PM Solar Yojana to promote solar energy adoption in rural and urban areas, offering subsidies for installing solar panels.
Financial Inclusion and Taxation
Financial inclusion continues to be a major focus, with new schemes announced to enhance access to banking services, promote digital payments, and simplify taxation.
- Modi 2 Lakh Loan Scheme: The government introduced a new loan scheme that offers up to 2 lakh rupees to small businesses and startups, promoting entrepreneurship and financial independence.
- Tax Reforms: The budget also announced several tax reforms aimed at simplifying the tax filing process and providing relief to small and medium-sized enterprises (SMEs).
Also Read: Best Government Investment Schemes in India
Conclusion
The 2024-25 budget has introduced a range of new government schemes that aim to drive growth across various sectors. From agriculture to education, healthcare to infrastructure, these initiatives are designed to benefit a broad spectrum of the population. Whether you’re a farmer, student, entrepreneur, or healthcare provider, understanding and leveraging these schemes can help you achieve your goals and contribute to India’s development.
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Frequently Asked Questions
Q. What are the new schemes in India 2024?
A. New schemes in India 2024 include initiatives for small businesses, digitalization, green energy, and social welfare, introduced in the Union Budget 2024-25.
Q. Are there any new government schemes for small businesses in India?
A. Yes, the government has introduced new schemes in 2024 focusing on MSME growth, access to credit, digital transformation, and market expansion for small businesses.
Q. How will the new schemes in Budget 2024-25 impact small businesses?
A. The Budget 2024-25 schemes aim to boost small businesses through tax incentives, increased access to financing, and support for digital and sustainable practices.
Q. What is the latest scheme of Pradhan Mantri?
A. The latest Pradhan Mantri scheme in 2024 focuses on renewable energy promotion, particularly solar energy adoption, under the “PM Surya Ghar” initiative.
Q. How can I apply for the latest government schemes in India?
A. You can apply for the latest government schemes in India through the respective scheme’s official website, local government offices, or online portals like the National e-Governance Service Delivery Gateway.
Q. Are there any new government schemes for education in India?
A. Yes, new government schemes in 2024 for education focus on digital learning, scholarships for underprivileged students, and skill development initiatives.
Q. What is the new PM scheme in 2024?
A. The new PM scheme in 2024 is “PM Surya Ghar,” which promotes solar energy use in households to reduce electricity costs and promote sustainability.
Q. Who is eligible for PM Surya Ghar?
A. Eligibility for PM Surya Ghar includes Indian households that meet specific criteria related to roof space, solar panel installation capability, and adherence to local energy regulations.
