Union Finance Minister Nirmala Sitharaman in her budget speech at Parliament on Thursday highlighted various schemes that the government has launched in its current tenure.
From PM Jan Dhan Yojana to Direct Benefit Transfer scheme, the finance minister gave a report card of the NDA 2.0 government.
Ahead of the Lok Sabha elections, she also said that the next five years will be years of unprecedented development and golden moments to realize the goal of a developed India by 2047.
PM SVANidhi
To provide handholding support to street vendors, the government launched PM SVANidhi microcredit scheme, facilitating working capital additional free loan of Rs 10,000, with subsequent loans of Rs 20,000 and Rs 50,000 with 7% interest subsidy.
At the Parliament, the Finance Minister stated that the scheme provided credit assistance to 78 lakh street vendors with a total of 2.3 lakh received credit for the third time.
PM Mudra Yojana
The PM Mudra Yojana was set up by the government for providing Mudra Loans up to Rs 10 lakhs to the non-corporate, non-agricultural small and micro enterprises.
The Finance Minister highlighted that the Prime Minister Mudra Yojana has sanctioned Rs 43 crore loans at Rs 22.5 lakh for entrepreneurial aspirations of your youth.
She further highlighted that 30 crore MUDRA Yojana loans have been given to women entrepreneurs.
Also, the empowerment of Women through entrepreneurship, ease of living and dignity has gained momentum in the last 10 years.
DBT under PMJDYY
The Narendra Modi government launched the Pradhan Mantri Jan Dhan Yojana (PMJDY) as a National Mission for Financial Inclusion to ensure access to financial services, namely, Banking/Savings and Deposit Accounts, Remittance, Credit, Insurance, Pension in an affordable manner.
Finance Minister highlighted that the Direct Benefit Transfer of Rs 34 lakh crore using PMJDYY has led to Rs 2.7 lakh crore of government savings.
Electronic National Agricultural Market
The National Agricultural Market or eNAM is an online trading platform for agricultural commodities in India. The market facilitates farmers, traders and buyers with online trading of goods. The market helps in better price discovery and providing facilities for smooth marketing of product.
Finance Minister highlighted that the Electronic National Agricultural Market has integrated 1,361 mandis and provides services to 1.8 crore farmers with a trade volume of 3 lakh crore rupees. The sector is poised for inclusive, balanced and higher growth and productivity.
Agriculture and food processing
Finance Minister emphasized that the efforts of adding value and boosting incomes of farmers will be strengthened.
Pradhan Mantri Kisan Sampada Yojana has benefited 38 lakh farmers and generated 10 lakh jobs, she said.
She further highlighted that the PM Formalization of Micro Food Processing Enterprises Yojana has helped 2.4 lakh SHGs and 60,000 individuals with credit linkages.
Other schemes help reduce post-harvest losses and improve productivity and incomes.
Notably, announcing the Union Budget 2024, the Finance Minister Nirmala Sitharaman said that the next five years will be years of unprecedented development and golden moments to realize the goal of a developed India by 2047.
“A trinity of democracy, demography and diversity supported by Sab Ka Prayaas has the potential to fulfill aspirations of every Indian,” she emphasized.
Defining the GDP in his own way, the Finance Minister said, “Besides delivering high growth, government is equally focused on a broader GDP: Management, Development and Performance.”
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