MP Anurag Thakur lauds the Union Budget’s record capital expenditure and targeted investments in infrastructure, education, and rural development.
Former Union Minister and current MP Anurag Thakur praised the Union Budget, highlighting a threefold increase in the budget size over the past ten years. He emphasized significant jumps in capital expenditure, which rose from Rs 5 lakh crore to Rs 7 lakh crore, then to Rs 10 lakh crore, and now to Rs 11.11 lakh crore. Thakur asserted that such substantial capital expenditure would have a comprehensive impact, boosting private sector investment, increasing employment opportunities, and strengthening the country’s infrastructure. He mentioned that the fiscal deficit target has been reduced from 4.9% to 4.5%, and foreign currency reserves have grown from $320 billion in 2014 to $666 billion.
Thakur detailed various budget provisions for different sections of society, emphasizing support for the poor, farmers, women, and youth, as prioritized by Prime Minister Modi. Specific focus was given to youth employment, with significant allocations for the New Education Policy and the Ministry of Skill Development, totaling around Rs 1.48 lakh crore for education, employment, and skill development initiatives. Thakur also highlighted cooperative federalism, noting that states are provided with interest-free loans worth Rs 1.5 lakh crore for the next fifty years.
Rural development received considerable attention, with the Ministry of Rural Development allocated a substantial budget of Rs 2.66 lakh crore. The budget also placed a special emphasis on women, supporting self-help groups and aiming to involve three crore women in these initiatives, with a target of creating one crore “Lakhpati Didis” (millionaire sisters).
Farmers were another focal point, with the BJP government committed to providing 50% above the production cost as per the Swaminathan Commission’s report. The government has been increasing the Minimum Support Price (MSP), and in the past ten years, the Modi administration has procured crops worth Rs 18.40 lakh crore at MSP, compared to Rs 5.5 lakh crore during the UPA government’s tenure.
At this event, several prominent figures were present, including State Chairman Jatinder Malhotra, Himachal Pradesh co-incharge Sanjay Tandon, Amit Jindal, Spades Chand, State General Secretary and Chief Spokesman Dr. Dhirendra Tayal, and State Secretary Sanjeev Rana.
Thakur’s address underscored the government’s efforts to cater to diverse societal segments through strategic budget allocations and reforms. By focusing on capital expenditure, the government aims to stimulate private investment and employment, thereby reinforcing India’s economic framework. The outlined measures for youth, women, and farmers reflect a targeted approach to inclusive development. This comprehensive budget is seen as a step towards achieving long-term economic stability and growth.