Union Finance Minister Nirmala Sitharaman in her budget speech at the Parliament on Thursday highlihgted various schemes that the government has launched in its current tenure.
Ranging 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 the next five years will be years of unprecedented development and golden moments to realize the goal of developed India by 2047.
To provide handholding support to street vendors, the government had launched PM SVANidhi a micro credit scheme, facilitating a working capital collateral 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 have 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-farming small & micro enterprises.
The Finance Minister has highlighted that the PM Mudra Yojana has sanctioned 43 crore loans amounting to Rs 22.5 lakh crore for entrepreneurial aspirations of your youth.
She further highlighted that 30 crore MUDRA Yojana loans have been given to woman entrepreneurs.
Also, the empowerment of Women through entrepreneurship, ease of living and dignity has gained momentum in last 10 years.
DBT under PMJDYY
The Narendra Modi government had launched the Pradhan Mantri Jan Dhan Yojana (PMJDY) as National Mission for Financial Inclusion to ensure access to financial services, namely, Banking/ Savings & 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 savings of government.
Electronic National Agricultural Market
The National Agriculture Market or eNAM is an online trading platform for agricultural commodities in India. The market facilitates farmers, traders and buyers with online trading in commodities. The market helps in better price discovery and providing facilities for smooth marketing of produce.
Finance Minister highlighted that the Electronic National Agricultural Market has integrated 1,361 mandis and is providing services to 1.8 crore farmers with trading volume of 3 lakh crores of rupees. The sector is poised for inclusive, balanced and higher growth and productivity.
Agriculture and food processing
Finance Minister has highlighted that the efforts of value addition and boosting farmers’ income will be stepped up.
Pradhan Mantri Kisan Sampada Yojana has benefited 38 lakh farmers and generated 10 lakh jobs, she told.
She further highlighted that the PM Formalization of Micro Food Processing Enterprises Yojana has assisted 2.4 lakh SHGs and 60,000 individuals with credit linkages.
Other schemes are helping reduce post harvest losses and improving productivity and incomes.
Notably, while announcing the Union Budget 2024, the Finance Minister Nirmala Sitharaman said the next five years will be years of unprecedented development and golden moments to realize the goal of developed India by 2047.
“Trinity of democracy, demography and diversity backed up by Sab Ka Prayaas has the potential to fulfill aspirations of every Indian,” she highlighted.
Defining the GDP in her own way, the Finance Minister said, “Besides delivering on high growth, govt is equally focussed on more comprehensive GDP: Governance, Development and Performance.”