Introduction
Union Minister of Commerce and Industry Piyush Goyal recently lauded the new budget, calling it a transformative step for India’s future. He highlighted its potential to drive rapid progress towards becoming a developed nation by 2047.
A Budget for New India
Impactful and Innovative
Goyal described the budget as both impactful and innovative. It lays out a clear roadmap with nine priorities identified by the finance minister. These priorities aim to set the country on a fast trajectory of growth and development.
Inclusive Growth
The budget focuses on inclusive growth, ensuring that every section of society benefits from the proposed initiatives. This inclusivity is key to fostering a balanced and equitable economic environment.
Skill Development and Employment Initiatives
Empowering Youth
One of the core focuses of the budget is skill development. By providing youth with the necessary skills, the budget aims to enhance employability and create numerous job opportunities.
Promoting Employment
The budget’s initiatives are designed to generate employment across various sectors. This approach will help in reducing unemployment and driving economic growth.
Economic Competitiveness
Boosting Manufacturing and Services
Goyal emphasized the importance of becoming more competitive both domestically and globally. The budget promotes the manufacturing and services sectors, aiming to strengthen India’s position in the global market.
Enhancing Tourism
Tourism is another sector that receives significant attention. By promoting tourism, the budget aims to create jobs and boost the economy.
Infrastructure Development
Multiplier Effect on Jobs and Business
Infrastructure development is a key priority in the budget. Investments in infrastructure are expected to have a multiplier effect, creating numerous jobs and business opportunities.
Setting the Tone for Modi 3.0
Goyal believes that this budget sets the tone for Modi 3.0. It establishes a foundation for continued growth and development, positioning India as a leading global economy.
