Budget 2024: Announcements focusing on women, farmers, and well-being of youth expected in FM's speech

Budget 2024 Expectations: As the Modi government's second term nears its completion, the Union Budget for 2024, slated for presentation on February 1, is generating considerable anticipation. Finance Minister Nirmala Sitharaman, in her sixth Budget speech, will unveil the interim budget in this election year. Sources told ZeeBiz.com that the budget has a high probability of etching a roadmap for development in the upcoming fiscal.

Sources suggest that the government's budget this time may hold particular significance for the underprivileged, youth, farmers, and women, earning it the moniker 'GYAN' (gareeb, yuva, annadata, naari) budget.

Here's a glimpse of the expected announcements in this year's budget:

Key Announcements Expected in Budget 2024:

• Introduction of an Interest Subvention Scheme for housing.
• Emphasis on enhancing social security with a focus on making the National Pension System (NPS) more appealing.
• Possible increase in the Kisan Samman Nidhi, raising it from Rs 8,000 to Rs 9,000.
• Potential inclusion of health and life insurance coverage for farmers alongside crop insurance.
• Rise in budget allocation for women, considering a 30 per cent increase over the past decade.
• Implementation of schemes like direct cash transfers for women.
• Possible introduction of skill development programs specifically for women.
• Increase in Samman Nidhi for women farmers up to Rs 12,000.
• Special reservations and higher honorarium for women under MGNREGA.
• Offering interest-free loans for women.

The budget session of Parliament is scheduled to commence on January 31 and will extend up to February 9. President Draupadi Murmu will address both Houses jointly on January 31, followed by the presentation of the Economic Survey report. The Economic Survey outlines the previous year's economic performance, providing insights into gains, losses, and potential areas of growth. Based on this survey, projections for the coming year's budget are made, influencing estimates of what might become costlier or cheaper based on the economic trends observed in the past year.