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The article delves into a comparative analysis of the first post-election union budgets presented by the Modi government, highlighting the key features and initiatives implemented in each. The first budget, presented by Arun Jaitley in 2014, introduced significant changes focused on economic growth and social welfare. It aimed to stimulate the economy by increasing tax exemptions for individuals and businesses, fostering a more favorable environment for investment and entrepreneurship. This budget also marked the launch of flagship initiatives such as Skill India, a program aimed at enhancing the employability of the Indian workforce, and Swachh Bharat Abhiyan, a nationwide campaign focused on sanitation and cleanliness.
Fast forward to 2019, the post-election budget presented by Nirmala Sitharaman exhibited a different focus, emphasizing modernization and sustainability. This budget introduced measures aimed at promoting electric vehicle adoption, providing incentives to encourage a shift towards cleaner transportation options. It also addressed the need for affordable housing, allocating funds to support the construction of low-cost homes. Notably, the budget made PAN and Aadhaar interchangeable, streamlining the identification and verification process for individuals.
As the next full budget presentation approaches on July 23, 2024, anticipation is high for the government's plans and initiatives. The article explores the potential areas of focus, speculating on the new measures that might be introduced. Given the current economic climate and global challenges, it's likely that the budget will prioritize measures aimed at economic growth, job creation, and infrastructure development. The government may also consider policies to address social issues like poverty, healthcare, and education, ensuring inclusive and sustainable development.
Source: Comparison: Modi Govt's Last 2 After-Election Budgets; What's In Store In 2024? | Nirmala | Jaitley