Interim Budget 2024-25: Sustained Allocations for Key Social Safety Nets
February 2024
The Union Interim Budget 2024-25, presented in February 2024, provided crucial insights into the government's continued commitment to social protection. While it was an interim budget, it maintained substantial allocations for flagship schemes like MGNREGA (₹86,000 crore), PM-KISAN (₹60,000 crore), and Ayushman Bharat (₹7,500 crore). This sustained funding, despite fiscal consolidation efforts, indicates the recognition of these schemes as vital social safety nets, especially in the context of global economic uncertainties. The emphasis on direct benefit transfers (DBT) and digital delivery mechanisms was also reiterated, highlighting the ongoing efforts to enhance efficiency and transparency in welfare delivery.
UPSC Angle: Analyze the budgetary priorities for social protection in the context of India's economic growth and fiscal space. Discuss the implications of sustained allocations for poverty alleviation, rural employment, and healthcare access. Evaluate the role of DBT in improving scheme effectiveness and reducing leakages. Consider how these allocations reflect the government's long-term vision for social welfare.