Budget 2024 is a significant milestone in India’s journey towards becoming a developed nation, or  Viksit Bharat, by 2047. It builds on the resilience established over the last two terms of the government led by Prime Minister (PM) Narendra Modi. The Economic Survey clearly laid out how the economy is on a strong footing while identifying challenges. Finance minister (FM) Nirmala Sitharaman has skilfully navigated these important aspects of the economy. Despite the Opposition’s political reservations, it is evident that the provisions in this budget are far-reaching and transformative. The primary focus is on employment generation, support to the middle class, agriculture growth, MSMEs and urban infrastructure development. The budget also talks about next generation reforms and improving factors of production.

We have to keep in mind that budget announcements are based on the demand of the Union ministries and the states and the assessment of their requirements by the finance ministry. These allocations can be increased during the year. Also, states not mentioned in the speech still get their due under the schemes.

Employment generation is a critical area. The budget ensures that job creation is directly and indirectly supported. The introduction of an internship programme for 10 million youth at 500 top corporations, financed and supported by the government, is a notable initiative. It is designed to bridge the gap between education and industry requirements. Support for first-time employees through the first month’s salary being paid by the government and Provident Fund (PF) and National Pension System (NPS) contributions are welcome steps. Upgrading of the Industrial Training Institutes (ITIs) and training two million youth will further empower the workforce, including women workers.

The FM has also focused on the MSME sector with enhanced credit guarantees, reworking the Non-Performing Assets (NPA) identification process, and raising the Mudra loan limit to ₹20 lakh. Most importantly, the credit assessment model has been improved to ensure that deserv- ing enterprises receive the necessary financial support. The manufacturing sector will benefit significantly from the allocation of 1 lakh crore for innovation and research, as well as funds for start-ups. The abolition of the angel tax, a major demand of start-ups, will bring a new line of cap- ital investment, fostering a culture of innovation and entrepreneurship. The budget also provides much-needed tax relief to the middle class. The increase in the standard deduction limit and reduced tax rates across all slabs will provide respite to millions of

households. This demography will also benefit from infrastructure development, with an impressive allocation of ₹11.11 lakh crore aimed at enhancing the ease of living.

Agriculture and the rural population have received special attention. The government has allocated funds for the construction of 30 million new houses under the Pradhan Mantri Awas Yojana. These initiatives aim to improve living conditions and provide much-needed relief to rural communities. The government’s exemplary work in delivering social welfare through digital infrastructure is evident in this budget. The Viksit Bharat vision entails welfare schemes reaching every section of the population. The allocation to the Mahatma Gandhi National Rural Employment Guarantee Scheme and the initiation of the Janjatiya Unnat Abhiyan are steps towards achieving saturation in tribal villages.

The budget also emphasises sectors such as tourism, energy, urban development, manufacturing and support for women and youth empowerment. Each of These areas has found a place in the budget, with targeted initiatives aimed at boosting growth and improving the standard of living. The comprehensive approach ensures that every segment of society benefits from the nation’s progress.

Innovation and research are key components of this budget, with substantial funds allocated to foster a culture of creativity and technological advancement. Next-generation reforms, includ- ing a new economic policy framework, new tax levies, and easing of tax compliance, have been thoughtfully implemented. These measures aim to improve overall productivity, creating a more efficient and competitive economy.

In conclusion, the budget is a significant step towards building Viksit Bharat. It lays a solid foundation for a prosperous and resilient econ omy where all segments of society are taken care of. The government’s focus on employment generation, infrastructure development, and social welfare is commendable. Together, we will build a prosperous and resilient India, ensuring that every citizen benefits from the nation’s progress.

Gopal Krishna Agarwal is national spokesperson

of the Bharatiya Janata Party on economic affairs.

Gopal Krishna Agarwal,

India has a glorious past. At one point in time it contributed more than 25% to the world’s GDP and controlled about 28% of global trade and commerce. Being an economic power for several centuries, India played a leadership role in all fields- whether it is art, culture, music, dance, food, festivals, architecture or handicrafts. Indian civilization’s contribution to the world heritage has been immense. Unfortunately, history took an unpleasant turn and India saw foreign occupation for almost a millennia; in these thousand years we were robbed of our glory and wealth.

There is a close inter-relationship between the culture and the economy. Our economy was an important factor for our glorious civilization and cultural heritage. The reverse also held true – our cultural content contributed to our Strong economy. If India has to assume global leadership position again, it has to be an economic power first. We can use our cultural wealth to catalyze India’s economy.

India’s potential in the field of culture is immense. However, there is a lack of understanding on how to put this accumulated cultural wealth over millennia to achieve economic growth. For realizing the true potential of India’s imbedded cultural content, and identifying variables and their interrelationship for evidence based decision making and resource allocations, we have to work on multiple dimensions of cultural economy; what are its performance and potential Indicators, how monetization can lead to unlocking valuations of cultural activities, what are its financial requisites to be fulfilled by innovative financial instruments for sustainability. According to a study only about 20% of cultural organizations worldwide consider themselves financially sustainable.

Government is an important driver of any initiative. Therefore Cultural Economic Governance assumes great importance at the stage of policy formulation and its implementation. Cultural sector directly employs about 45 lakh people as artisans, performers, tourism guides etc. In addition, handicrafts and traditional art industries provide employment to about 60 lakh people. Through introduction of new curriculum and vocational studies in the education system, the government has to work on skilling and capacity building of these stakeholders. According to a report by the Ministry of Rural Development, only 10% of rural artisans have access to formal training programs. It is estimated that capacity building initiatives in cultural sectors can lead to a 20-30% increase in productivity and revenue for cultural enterprises. A survey conducted by UNESCO found that 70% of traditional artisans feel their skills are not aligned with current market demand.

Establishing social and economic linkages for performing arts can propel growth in all art forms, contributing to huge employment and revenue generation. The Indian film industry alone contributes around Rs 180,000 crore annually to the economy but its global potential is still unexploited.

Yoga in the USA has become a 15 billion USD business annually. Is there a way to ensure that the economic benefits of the wider acceptance of Yoga flows to India? All these and other important sectors have to be extensively worked on.

The civilisational wealth that we have inherited from our ancestors can be put to use only after we start taking pride in them. We are fortunate that, with the rise of aspirational Indians, there is a revival of pride in our cultural traditions and civilization values in the country. Initiatives like building Ram temple at Ayodhya; its ambitious redevelopment project, costing over Rs 85,000 crore is to be completed by 2031 transforming the city to accommodate a footfall of around 3 lakh pilgrims daily. Kashi Vishwanath Temple had 20,000-30,000 daily visitors before redevelopment; after the revamp, the daily number of visitors increased to 1.5-2 lakh. There are approximately 2 million temples across India, in addition to their religious and spiritual importance, temples were designed to serve as commercial centres attracting tourists/pilgrims and support business activities in the areas of retail, transportation, and hospitality. Festivals in India are estimated to contribute Rs 2 lakh crore annually. According to a CII report, Kumbh Mela in 2019 generated business over Rs 1.2 lakh crore whereas the State of UP had to spend only Rs. 4,200 crores for the event.

Prime Minister Modi is working on realizing this vision further by setting up Tamil Cultural Centers across the globe and showcasing India’s diverse and Vibrant cultural heritage to the world leaders through the G20 platform. India has 42 UNESCO World Heritage Sites as of now. A total of 46 new projects have been sanctioned and 27 new pilgrimage sites have been identified across India for development of infrastructure and tourist amenities for enriching the religious tourism experience under the PRASHAD scheme of the Central government. Spiritual and religious tourism in India commands a significant portion of the travel and tourism sector, holding a 30% market share and accounting for 60% of the domestic tourism market.

What we require is to develop a comprehensive Cultural Economic Model. This Model will serve as a catalyst for our nation’s economic growth, till we become a developed nation by the year 2047. Our cultural economic model will also be a case-study for other economies to emulate and propel their own economic growth using their social and cultural wealth.

The author is National Spokesperson of BJP.

कश्मीर में अनुछेद 370 की समापति के साथ वहां शांति कायम करना और अयोध्या में श्रीराम मंदिर का निर्माण इन दो बड़ी चुनौतियों से निपटने में वर्तमान नेतृत्व सक्षम साबित हुआ है।

इस अगस्त 2023 में हम अपनी आजादी की 76वीं वर्षगांठ मना रहे हैं। भारत अब आंतरिक और बाह्य दोनों रूप से मजबूत राष्ट्र बन चुका है। यह हमारे वर्तमान नेतृत्व द्वारा दिखाए गए दृढ़ संकल्प और दूरदर्शिता से संभव हुआ है। अपने ऐतिहासिक महत्व के अलावा अभी पिछले वर्षों में मोदी जी के नेतृत्व में एवं श्री अमित शाह जी के कुशल मार्गदर्शन में अगस्त महीने में किए गए महत्वपूर्ण कार्य देश की आंतरिक एवं बाह्य सुरक्षा के लिए मील के पत्थर साबित हो रहे हैं। यह कहना गलत नहीं होगा कि हमारा देश इस महीने का बेसब्री से इंतजार करता है।

भारतीय जनता पार्टी (भाजपा) हमेशा राष्ट्रहित को सर्वोपरि रखते हुए मजबूत राष्ट्रवाद के लिए खड़ी रही है। चाहे वैश्विक कूटनीति हो, बाह्य या आंतरिक सुरक्षा हो, या आर्थिक प्रबंधन हो हमारी प्राथमिकता हमेशा राष्ट्रहित रहा है। मोदी सरकार की प्रमुख सफलताओं मे से एक, घरेलू शांति और स्थिरता की स्थापना और आतंकवाद के संकट को जड़ से खत्म करना है और देश के गृह मंत्री के रुप में अमित शाह जी प्रधानमंत्री के लिए सक्षम सहयोगी साबित हुए हैं। घरेलू समस्याओं पर उनका कड़ा रुख जो भारत की आंतरिक सुरक्षा को प्रभावित कर रहे थे, जिससे देश में लगातार अनिश्चितताएं और संप्रदायिक तनाव पैदा हो रहे थे, और जो भाजपा के मूल एजेंडे में थे, वे अनुकरणीय रहे हैं।

आजादी के बाद कई दशकों तक संसद कश्मीर को भारत का अभिन्न अंग मानते हुए अनुच्छेद 370 को खत्म करने का संकल्प लेती रही है, लेकिन वहां की जमीनी हकीकत निराश और हताश करने वाली थी, यहां आतंकवाद को बढ़ावा मिल रहा था। पाकिस्तान चिल्ला रहा था कि वह भारत को हजार घाव देकर इसकी अखंडता को क्षत्-विक्षत कर देगा, प्रदेश की युवा निराश होकर पथराव कर रहे थे। भारत का नेतृत्व इस बात को जानता तो था कि राष्ट्रीय सुरक्षा के लिए अनुच्छेद 370 को हटाना आवश्यक है, और यहीं सही कदम होगा लेकिन उसमें साहस और दृढ़ संकल्प की कमी थी। ऐसी धारणा बनी हुई थी कि अगर अनुच्छेद 370 हटा दिया गया तो इस क्षेत्र में रक्तपात हो जाएगा और अनुच्छेद 370 को हटाना असंभव लग रहा था, यहां तक कि इसे कमजोर करने का प्रयास भी अंतरराष्ट्रीय स्तर पर भारत की आलोचना का कारण बन जाता था। धारा 370 को हटाने का कार्य जिस निपुणता के साथ किया गया वह अभूतपूर्व था। 5 अगस्त 2019 के पूर्व एवं बाद में जिस सुचारुता से संपूर्ण स्थिति से निपटा गया; भले वह सीमा के पार से होने वाली झड़पे हों, अंतरराष्ट्रीय परिपेक्ष में कश्मीर के मुद्दे पर भारत के पक्ष की स्वीकार्यता हो, या जमीनी स्तर पर कानून व्यवस्था हो, यह एक राजनेता की दृढ इच्छाशक्ति को दिखाता है।

यह भाजपा और देशवासियों के लिए एक सपने के साकार होने जैसा था। हालाकि मातृभूमि की अखंडता को बनाए रखने से अधिक बहुमूल्य कुछ भी नहीं है लेकिन यह जानकर बेहद संतुष्टि होती है कि हमने इस उद्देश्य को बिना किसी बड़ी क्षति के साथ हासिल किया। आज जम्मू कश्मीर में अमन-चैन है और वह आर्थिक विकास के पथ पर है। प्रधानमंत्री की दूरदर्शिता और गृह मंत्री की कुशलता ने काम को सुचारू रूप से कर दिया।

राम मंदिर एक और महत्वपूर्ण मुद्दा है। ऐतिहासिक रूप से भारत में सदियों से बहुसंख्यक हिंदुओं द्वारा अयोध्या में भव्य राम मंदिर की मांग और उससे उत्पन्न संघर्ष से सांप्रदायिक तनाव बना रहता था। मंदिर का संबंध हिंदुओं की अस्मिता और स्वाभिमान से जुड़ा है। राम मंदिर के लिए हिंदुओं का संघर्ष और अन्य समुदाय द्वारा इसके विरोध के कारण देश में कई दंगे हुए और लाखों लोगों की जान चली गई। देश में सभी ने यह उम्मीद खो दी थी कि इस मुद्दे का हल निकाला जा सकता है, और यह मानसिकता बन गई थी कि आने वाली सदियों तक हमारे राष्ट्र जीवन में यही दुखदायी स्थिति बनी रहेगी। हम सभी ने अयोध्या में एक भव्य मंदिर का सपना देखा था जिसके पूरा होने की उम्मीद कम होती जा रही थी। न्यायालय के अंदर और बाहर की प्रक्रिया हो या सुप्रीम कोर्ट के मंदिर के पक्ष में आदेश से पहले और बाद में कानून व्यवस्था बनाए रखने की जिम्मेदारी, जिस निपुणता से निभाई गई, यह प्रमाण है कि किसी उद्देश्य के प्रति दूरदर्शी सोच एवं प्रतिबद्धता एक दुर्लभ गुण है लेकिन एक बार यह नेतृत्व में आ जाए तो कुछ भी असंभव नहीं है। प्रधानमंत्री मोदी जी‌ और गृह मंत्री अमित

शाह जी ने वह राजनीतिक कौशल अपने कार्यों में के प्रति दिखाया है। देश में कहीं कोई विशेष सांप्रदायिक तनाव नहीं हुआ। राम मंदिर के लिए भूमि पूजन 5 अगस्त 2020 को किया गया था और अब हर गुजरते दिन के साथ अयोध्या में भव्य राम मंदिर हकीकत में तब्दील होता जा रहा है।

मैं ऐसे कई उदाहरणों के बारे में बात कर सकता हूं, लेकिन मैं तीन तलाक के मुद्दे तक सीमित रहूंगा। तीन तलाक की कुप्रथा मुस्लिम महिलाओं के अस्तित्व के लिए अभिशाप है। वे दशकों से अल्पसंख्यक तुष्टीकरण और छद्म धर्मनिरपेक्षता की राजनीति की शिकार थी। कांग्रेश के वोट बैंक की राजनीति इस हद तक आगे बढ़ गई थी कि महिलाओं की सामाजिक समानता एवं उनका सशक्तिकरण और हमारे संविधान के अंतर्गत निर्देशित समानता को स्पष्ट रूप से नजरअंदाज कर दिया गया। संसद में भारी बहुमत के साथ सुप्रीम कोर्ट के फैसले तक को पलट दिया गया, जैसा कि शाह बानो मामले में हुआ था। 1 अगस्त 2019 को पारित विधेयक के माध्यम से तीन तलाक को अवैध बनाए जाने से भारत की मुश्किल महिलाएं सशक्त हुई हैं।

भारत वास्तव में एक मजबूत राष्ट्र के रूप में उभर रहा है। अब भारत एक शांतिपूर्ण और अंतर्राष्ट्रीय स्तर पर सशक्त राष्ट्र है, जिसके कई विवादास्पद मुद्दे सुलझ गए हैं; अंतर्राष्ट्रीय मुद्दों पर भारत के विचारों को विश्व मंच पर सम्मान के साथ माना जाता है, एक मजबूत राष्ट्र के रुप में हमारी छवि अब अच्छी तरह स्थापित हो गई है। प्रधानमंत्री मोदी जी एवं श्री अमित शाह जी की सक्षम कार्यशीलता भारत को नई ऊंचाइयों पर ले जा रही है। देश आशान्वित है कि यह गतिशील जोड़ी एक विकासशील राष्ट्र के रूप में हमारे सामने आने वाली दुर्गम चुनौतियों को सफलतापूर्वक काबू कर के हमें सदा सुखद आश्चर्य देती रहेगी।

गोपाल कृष्ण अग्रवाल

राष्ट्रीय प्रवक्ता भाजपा

The recent rate cut by the RBI is expected to provide significant support to the Indian economy The RBl and the central government have now decided to work together to ensure that the cumulative rate cut of 125 basis points is transmitted across the board.

India is moving to a low interest rate regime. Now is the right time for the government to capitalize on the rate cut and move quickly on other administrative and legislative reforms. The Indian economic model is very different from the Chinese one Unlike the export-driven Chinese economy. India is domestic demand-driven and there is no excess capacity of the kind now being witnessed across China.

One reason for the low rate of investment in India is the lack of demand.

This should recede as soon as demand picks up. The lack of good and efficient physical infrastructure provides the government with an opportunity to ramp up public expenditure in sectors that would naturally be crowded with private investment. Taking cue From this, the government had planned large scale investments in infrastructure. These are in addition to the mega investment plans unfurled by Prime Minister Narendra Modi like Digital India’, Make in India’, Start Up India’, smart cities, power sector reforms and coal block auctions.

The manufacturing sector is competitive and is not subsidy dependent like the Chinese counter part. The trickle of investments from abroad under schemes like Make in India’ should soon turn into deluge once the various steps being taken by the government kick into action. The panic driven flight of global financial capital will hopefully reverse in the near future as India provides the best risk adjusted returns on Investment to this capital.

Because of this government’s over-emphasis on the goods and services tax and Land. Acquisition Bill, many in the corporate sector seem to be losing sight of the multiple steps being taken by the Centre. The government is seeking to establish an overarching framework under which citizens entrepreneurial potential can flourish.

“This is what minimum government. maxium governance’ is all about.

The business sector can be excused for its impatience. With the lack of major  reform during the previous regime and 17 months of the Modi government down the line, India Inc is desperate For action.It is seeking palliatives while the government is committed to structural change. A good example of this is the issue of land acquisition.

After strong opposition by various political parties, the government has decided to allow state governments to have their own land acquisition laws.

This, at once, converts a potentially political showdown into a great opportunity for the states to come with their own laws. A healthy competition between states will ensure that the policy is attractive to industry while state-level politics is expected to ensure a fair deal to the farmers. An issue that has also attracted major attention is that how India should focus on the gross value added (GVA) in these times of tax collection and falling subsidies. The GVA has increased from 6.1% to 7.1% of GDP showing that the economy is gathering momentum, rather than being stagnant.

The picture, however, is not rosy. The banking sector, for instance, has emerged as a weak link in the current narrative. The public sector banks (PSBs) are saddled with massive non performing assets (NPAs) and restructured loans of doubtful quality. This is coming in the way of credit flow.

The government has taken a number of steps to restore vitality to the PSBs, including restructuring capital and professionalising the bank management. Steps like putting the focus on micro, small and medium enterprises (MSME) sector finance through Mudra Bank and new initiatives of payment banks will bear fruit in the near future. A free-float currency also provides the RBI with more headroom to take steps to manage capital flows.

In the debt market RRI policy has allowed government to borrow 1.2 lakh crore inter nationally over the next five years, giving ample opportunity to the government to take up mega investment plans, generating the much needed demand push to the economy.  Even the private sector has been per mitted to go for cheaper external commercial borrowings (ECBs).

The economy is gathering momentum and its underlying fundamentals remain strong. India has a government at the Centre that is committed not only to maintain this momentum but to also take steps to further accelerate the growth rate. Opportunities await.