Interim Budget 2024 – 12 figures Relevant to Rural India

News & Events, Rural Development

February, 2024

Interim Budget 2024 – 12 figures Relevant to Rural India

Interim Budget 2024

The Finance Minister, Nirmala Sitharaman presented the Interim Budget in the Lok Sabha last week, listing out the key initiatives and the impact the initiatives have had on the country.

Here are the major highlights and figures for rural India:-

1. Food Security for 80 Crore People: The government has provided free rations to 80 crore individuals, addressing food insecurity and enhancing living standards in rural areas.

2. Direct Financial Support to 11.8 Crore Farmers: Through PM-KISAN SAMMAN Yojana, financial assistance is extended annually, including to marginal and small farmers, strengthening the agricultural sector’s foundation.

3. Crop Insurance for 4 Crore Farmers: PM Fasal Bima Yojana underscores the government’s efforts to secure farmers’ livelihoods against the unpredictability of nature.

4. Direct Benefit Transfers of ₹34 Lakh Crore: Utilising PM-Jan Dhan accounts, this initiative has streamlined welfare delivery and saved ₹2.7 lakh crore by eliminating leakages.

5. Lifting 25 Crore People from Multidimensional Poverty: Over the past decade, various schemes have significantly reduced poverty, affecting the lives of 25 crore individuals.

6. e-NAM Integration of 1361 Mandis: Revolutionising agricultural trade, this initiative benefits 1.8 crore farmers, with a trading volume reaching ₹3 lakh crore.

7. Educating and Skilling 1.4 Crore Youth: Through the National Education Policy 2020 and the Skill India Mission, the government is preparing the youth for tomorrow’s challenges, with 54 lakh individuals upskilled and reskilled, and 3000 new ITIs established.

8. 30 Crore Mudra Loans for Women Entrepreneurs: This initiative has played a crucial role in promoting gender equality and fostering entrepreneurship among women.

9. Aiming for 3 Crore Houses Under PM Awas Yojana (Grameen): Despite COVID-19 challenges, the government is on track to meet its ambitious housing targets, and is planning to further construct 2 crore more houses in the next five years.

10. Benefiting 38 Lakh Farmers Through Pradhan Mantri Kisan Sampada Yojana: Alongside assisting 2.4 lakh SHGs and 60,000 individuals with credit linkages through the Pradhan Mantri Formalisation of Micro Food Processing Enterprises Yojana, these schemes are vital in boosting rural incomes and employment.

11. Fisheries Production and Export Goals: With the Pradhan Mantri Matsya Sampada Yojana (PMMSY), the government aims to enhance aquaculture productivity from the existing 3 to 5 tons per hectare, double exports to ₹1 lakh crore and generate 55 lakh employment opportunities, significantly enhancing the fisheries sector.

12. Empowering 83 Lakh SHGs Comprising 9 Crore Women: The success of these Self-Help Groups is pivotal in transforming the rural socio-economic landscape, leading to nearly one crore women becoming Lakhpati Didis, with goals set even higher for the future.

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