Budget 2024 key announcements – DBT Transfer: Finance Minister Nirmala Sitharaman today said the adoption of Direct Benefit Transfers (DBT) has resulted in substantial government savings amounting to Rs 2.7 lakh crore. As per the Economic Survey 2023 reveals that DBT has successfully facilitated the transfer of over Rs 26.5 lakh crore for various central schemes.
India’s implementation of DBT has garnered international recognition, earning praise from both the International Monetary Fund (IMF) and the World Bank for its effective delivery of support to disadvantaged segments of society.
Crop Insurance
In her Interim Budget for 2024-25, Finance Minister Nirmala Sitharaman emphasised the significant milestone of providing crop insurance to four crore farmers through the PM Fasal Bima Yojana. This initiative plays a crucial role in supporting farmers, the ‘annadata,’ in contributing to the nation’s food production for both domestic consumption and global markets.
Finance Minister Nirmala Sitharaman presented her sixth consecutive Budget on February 1 from her ‘Bahi Khata’, a feat matched only by former Prime Minister Morarji Desai.
Ahead of the impending 2024 Lok Sabha elections, Sitharaman took the stage to present the interim Budget. This customary budgetary measure is designed to allocate funds to sustain vital government operations until the newly elected government unveils a comprehensive budget post-elections.
In her address, Sitharaman underscored the resilience of India’s economy.
“The Indian economy has witnessed positive transformation in the last 10 years. People are looking towards future with hope. In 2014, the country was facing enormous challenges. With Sabka Saath, Sabka Vikaas, the Narendra Modi-led government overcame those challenges.”
