Union Budget 2024: Guiding 'Saptarishi' Pillars Pave the Way for Inclusive Growth and Sustainable Development

3 Jan 2024 , 03:38 AM

The Union Budget is an annual financial report outlining India’s expected income and expenditure for the upcoming fiscal year.

It addresses key priorities that act as guiding principles for government policies.

Seven Pillars or ‘Saptarishi’ of Union Budget 2023:

  1.Inclusive Development:

     – Ensuring equitable growth and reducing societal disparities.

     – Implementing policies for a more inclusive society.

 2. Reaching Last Mile:

     – Focusing on extending government policies to the most remote and neglected parts of society.

     – Utilizing technology and innovative methods for widespread impact.

3. Infrastructure Investment:

     – Prioritizing enhanced infrastructure development, including ports, airports, railroads, and roads.

     – Addressing the crucial need for economic progress and competitiveness.

4. Unleashing Potential:

     – Commitment to removing hurdles hindering economic growth.

     – Initiating reforms in key sectors like labor, land, and education.

5. Green Growth:

     – Promoting environmentally friendly and sustainable growth.

     – Investments in renewable energy, environmental protection, and climate change mitigation.

Key Investment Proposals:

     – Green Hydrogen Mission: Rs 19,700 crores for low carbon intensity and reduced fossil fuel dependence.

     – Rs 35,000 crore for priority capital investments in energy transition and net-zero objectives.

     – Support for Battery Energy Storage Systems, Inter-state transmission system for renewable energy, and more.

  6. Youth Power:

     – Focusing on harnessing the potential of the nation’s youth.

     – Investments in education, skill development, job creation, and entrepreneurship.

7. Financial Sector:

     – Strengthening the financial sector to support growth and development.

     – Measures for financial inclusion, increased credit accessibility, and improved sector functionality and stability.

For feedback and suggestions, write to us at [e-mail]