Thiruvananthapuram, July 23
Former Minister of State for External Affairs and Parliamentary Affairs, and BJP leader V Muraleedharan, praised the Union Budget 2024, highlighting its significant benefits for Kerala. He noted that the central government has allocated Rs 1.5 lakh crore in interest-free loans to Kerala, which will greatly aid the state's infrastructure development.
Speaking with the reporters, Muraleedharan said, "Several schemes have been announced for Kerala. The infrastructure development fund, which is an interest-free loan, with a repaying period of 50 years, will benefit Kerala. Kerala has been finding it difficult to manage and has been taking loans through Kerala Infrastructure Investment Fund Board (KIFFBI), where a big interest had to be paid. Now, Kerala will get the benefit of interest-free loans."
He added, "The central government has provided Rs 1.5 lakh crore for that. Agricultural sector gets Rs 1.52 lakh, rural development gets Rs 2.66 lakh and innovations to improve productivity in agriculture can be utilised by the state of Kerala, where the agriculture field is facing a lot of challenges."
Muraleedharan also highlighted other schemes, including the Pradhan Mantri Awas Yojana and the PM Surya Ghar Muft Bijli Yojana. The latter, launched by Prime Minister Narendra Modi on February 15, 2024, aims to provide free electricity through subsidies for installing solar panels on household roofs.
"All these schemes and announcements will hugely benefit the youth, the middle class, and the rural sector including the agricultural sector," the BJP leader added.
Finance Minister Nirmala Sitharaman presented her record seventh consecutive Union Budget for 2024-25 on July 23 during the Budget Session of Parliament. She is the first finance minister to deliver seven consecutive budget speeches, surpassing former Prime Minister Morarji Desai's record of six consecutive budgets between 1959 and 1964.
FM Sitharaman, in her seventh consecutive Union Budget for 2024-25, outlined key priorities aimed at fostering economic growth and creating ample opportunities. The priorities include Productivity and Resilience in Agriculture, Employment and Skilling and services.
She listed productivity and resilience in agriculture, employment and skilling, inclusive human resource development and social justice, manufacturing and services, urban development, energy security, infrastructure, innovation, research and development, and next-generation reforms as nine priority areas for the government.
In her budget speech, Sitharaman outlined key priorities to foster economic growth, including productivity and resilience in agriculture, employment and skilling, inclusive human resource development, social justice, manufacturing and services, urban development, energy security, infrastructure, innovation, research and development, and next-generation reforms.
Sitharaman also proposed significant income-tax reforms for the fiscal year 2024-25, including an increased standard deduction and revised tax rates for salaried individuals under the new tax regime.
She announced an allocation of Rs 2 lakh crore to create employment for about 4.1 crore youth over the next five years. Additionally, Rs 1.48 lakh crore has been earmarked for skilling 20 lakh youth over five years, and 1,000 industrial training institutes will be upgraded.