Nagpur: Finance Minister Nirmala Sitharaman presented the Union Budget 2024-25 in the Lok Sabha today, marking her seventh budget and the first of the third term of the Modi government. With the elections approaching, the interim budget presented on February 1 had not introduced significant policy changes, and there were no special announcements for the middle class. However, this year’s budget includes crucial measures for women, farmers, students, youth, and employment.
Despite the budget’s limited direct benefits for Vidarbha and Maharashtra, the Vidarbha Industries Association has welcomed the announcements. Association President Vishal Agarwal noted that the budget includes numerous schemes for the industrial sector, which is expected to benefit Maharashtra significantly.
Today’s Rate
Tuesday 12 Nov. 2024
Key Highlights:
– Industrial Benefits: The budget promises numerous schemes for the industrial sector, which will positively impact Maharashtra’s economy, according to the Vidarbha Industries Association.
– Youth Employment and Skills: Various initiatives aimed at enhancing skills and employability for the youth have been introduced, which the association believes will greatly benefit the industry.
– Support for Women Entrepreneurs: Rashmi Kulkarni, President of the Women Entrepreneurs Branch of the Vidarbha Industries Association, highlighted the budget’s special provisions for women and female entrepreneurs. This includes a ₹3 lakh crore allocation for women and girls and stamp duty concessions on property purchases in women’s names. The removal of angel tax on startup investments is also expected to benefit women entrepreneurs and the startup ecosystem.
Overall, while the budget might not have delivered substantial benefits specifically for Vidarbha and Maharashtra, the broader measures for industrial growth and support for women and youth are seen as positive steps by local industry leaders.
