Fin Min tables ₹48 Lakh crore budget; urban development given ₹82,577 crore

NEW DELHI: Nirmala Sitharaman, Minister for Finance, Government of India, presented the Union Budget for 2024–25 in the Lok Sabha. The 48 lakh crore budget emphasizes nine key priorities to make India a developed country by 2047. In the union budget, the urban development sector has been given ₹82,577 crore, and ₹11,11,111 has been allocated for infrastructure development.

The nine priority areas announced by the government include improving productivity and resilience in agriculture, employment and skilling, inclusive human resource development and social justice, manufacturing and services, urban development, energy security, infrastructure, innovation and research and development, and the next generation of reforms.

Under the urban development head, the central government is emphasizing transit-oriented development plans for 14 large cities with populations above 30 lakh. Apart from that, the government will also invest in water supply, sewage treatment, and solid waste management projects and services for 100 large cities through bankable projects. Similarly, the housing needs of one crore urban poor and middle-class families will be addressed with an investment of ₹10 lakh crore under PM Awas Yojana Urban 2.0. Also, a scheme to develop 100 weekly ‘haats’, or street food hubs, in select cities is in the pipeline.

The energy sector has been given ₹68,769 crore. Under the energy sector, the government is focusing on the PM Surya Ghar Muft Bijli Yojana. With the help of this scheme, the government is planning to provide free electricity, up to 300 units every month, to nearly one crore households.

Of the ₹11,11,111 crore that the government has allocated for infrastructure development in 2024–25, ₹1.5 lakh crore will be given to the states as long-term interest-free loans. Additionally, the government is planning to provide all-weather connectivity to 25,000 rural habitations under the PM Gram Sadak Yojana.