In anticipation of the upcoming elections, Union Finance Minister Nirmala Sitharaman is gearing up to unveil a budget that is expected to target the welfare of four pivotal segments of society - women, the poor, youth, and farmers.
Allocations for existing schemes for these target groups will increase, and there is a possibility that newer projects with similar goals may also be introduced.
Speaking at an event last week in New Delhi, Sitharaman had said Prime Minister Narendra Modi had recently mentioned these target groups -- youth, women, farmers, and the poor, and said the government aims to uplift these groups without considering caste, community, or religion.
"Yuva, women, those who give us the food security, good farmers, and then the unfortunate poor, who still need some more support for them to get uplifted. Everything will be focused towards their betterment," Sitharaman said.
Sources said a substantial uptick in investments towards education and skill development, aligning with the concerns of the youth may be considered. The government is poised to bolster its contributions to the Skill India program, with a potential 10 per cent increase from the current allocation of Rs 2,278 crore expected in the interim budget.
Moreover, a ramp-up in funding for centrally sponsored schemes targeting women and child development is also seen on the cards.
In the agricultural sector, continued emphasis on farmer welfare is evident, with an anticipated surge of up to 30 per cent in the budgets allocated to the PM-Kisan Samman Nidhi and modifications to Pradhan Mantri Fasal Bima Yojana.
Under the PM-Kisan Samman Nidhi, small and marginal farmers receive an annual transfer of Rs 6,000, a provision introduced in the previous Interim Budget. Sources share that a potential increase in this amount could be expected this year.
The Budget makers have also evaluated some proposals on providing more benefits on the health care front, and making New Pension Scheme more attractive by assuring some fixed return.
This is going to be the 12th budget of the Modi Government, and the sixth budget of Finance Minister Nirmala Sitharaman.
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