Image showing an industrial plant. For representational purposes.
Credit: iStock Photo
Finance Minister Nirmala Sitharaman on Tuesday scripted a new record by presenting her seventh consecutive Union Budget. Having presented an Interim Budget ahead of the Lok Sabha elections, Tuesday's full Budget highlighted the roadmap charted by the Modi government 3.0 for India's economic development in this financial year.
The Budget identified the following areas as priorities: productivity and resilience in agriculture, employment & skilling, inclusive human resource development and social justice, manufacturing & services, urban development, energy security, and infrastructure.
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As per the government's 'Budget at a Glance' document, expenditure on several 'major items', such as agriculture, commerce, defence, education etc. are listed, with regards to various sectors.
Here, we take a look at the allocation for commerce and industry in this year's Budget, and how it compares to allocations since 2019-20:
FM Sitharaman on Tuesday announced an allocation of Rs 47,559 crore for commerce and industry, a significant increase of over Rs 20,000 crore, in comparison to the 2019-20 Budget, when the sector received Rs 27,043 crore.
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However, this year's allocation was slightly lower than last year's Rs 48,169 crore, and some Rs 6,000 crore lower than the Rs 53,116 crore allocated in 2022-23.
Union Budget 2024 LIVE | Making a record for any Finance Minister, Nirmala Sitharaman presented her 7th consecutive Union Budget on July 23, 2024 under the Modi 3.0 government. This Budget brought tax relief for the middle class, while focusing on jobs through skilling, incentivising employers. Track the latest coverage, live news, in-depth opinions, and analysis only on Deccan Herald. Also follow us on WhatsApp, LinkedIn, X, Facebook, YouTube, and Instagram.