DECEMBER 9, 2022
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Interim Budget 2024: Youth and Women Empowerment, Innovation & Healthcare Take Center Stage for Robust Economic Growth

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New Delhi: The Interim Budget 2024 was focused on youth and women empowerment while maintaining fiscal consolidation and continuing capex. 

The whooping 6.8% increase in the allocation of budget compared to the previous year to the education sector is a futuristic move. It is being proudly noted that the female enrolment in higher education increased by 28 percent and that in STEM courses it stands at 43 percent which is one of the highest in the world and with further increased budget, it is sure to boost the women in all spheres.

Innovation and Entrepreneurship -The key areas that would lead to better economic growth has been well considered and the Rs.1 lakh crore interest free loans is sure to motivate the private sectors to focus on R&D, Innovation and Entrepreneurship. This may also be helpful in integrating collaborative activities between organizations and help in employments too.

The major reforms and acceptance of Up skilling and reskilling of the youth has helped in understanding the demand for Hybrid models of learning has led to the funding of National Research Fund and establishing the Higher Education Commission. This is sure to help in improving the needed ed tech resources like digital infrastructure, digital repositories leading to further achievements in skill development.

Healthcare has been prioritized in this budget. Vaccinations against Cervical cancer, increase in medical colleges, introducing better mother and child care plans, Promoting Domestic Pharmaceutical production are few significant steps that would ensure and promote Public Healthcare.

The support for aviation industry and Metros will boost the tourism in India, again leading to growth of our economy.

The budget is quite promising and one can expect the GDP to increase or at least be maintained at 7% like the last three years leading India to be the fastest growing economy among the G20 countries.

 

Author: Prof. Dr.B.Sendilkumar, Dean-Allied Health Sciences and Head Transformation, VIMS Hospital at Vinayaka Mission's Research Foundation - University

 

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