As per Finance Minister Nirmala Sitharaman, Indian economy is on a strong wicket and stable footing. demonstrating resilience in the face of geopolitical challenges. Budget is themed on improving access to physical, social and digital infrastructure along with skilling the workforce. The finance minister announced a flurry of measures for boosting the infrastructure, Housing and MSME in addition to following announcements.
FM allocates 11.1 lakh crore for Infrastructure with 12 industrial parks sanctioned under National Industrial Corridor Development Programme. Investment-ready "plug and play" industrial parks to be developed in or 58 near 100 cities.
2 crore more houses to be taken up in next five years under PM Awas Yojana (Grameen)
The government also proposed a central assistance of Rs 2.2 lakh crore for urban housing over the next five years as well as an interest subsidy scheme to facilitate loans at affordable rates for urban housing works.
E-Commerce Export Hubs to be set up in PPP mode to enable MSMEs and traditional artisans to sell their products in international markets.
The minister enhanced the limit for loans under the government's Mudra scheme to Rs 20 lakh from Rs 10 lakh to boost credit access for micro enterprises.
Draft of 'Green Credit Programme (GCP)' implementation वृष् was first announced in the 2023-24 Union Budget with a view to promote activities for increasing the green cover across the country through tree plantation and related activities.
The Indian Council of Forestry Research and Education (ICFRE) shall be the administrator of the programme which will develop guidelines, processes and procedures for implementation of the programme.
Published in Ply Reporter's AUGUST 2024 Print Issue