Union Budget 2024-25: Key Highlights
Substantive Development of All Forms of Infrastructure
The Union Cabinet headed by Prime Minister Narendra Modi has approved the full budget for 2024-25, which includes a substantial increase in infrastructure spending. The Capital Expenditure Outlay for FY 2024-25 is being increased by 111 per cent to Rs 40000 crore. This will be used to develop all forms of infrastructure, including physical, digital, and social.
Physical Infrastructure
The government will invest heavily in physical infrastructure, such as roads, railways, and airports. This will help to improve connectivity and boost economic growth. The government will also convert 40000 normal rail bogies to high-speed ones.
Digital Infrastructure
The government will also invest in digital infrastructure, such as broadband and mobile networks. This will help to improve access to information and services, and boost digital literacy.
Social Infrastructure
The government will also invest in social infrastructure, such as schools, hospitals, and affordable housing. This will help to improve the quality of life for all citizens.
Digital Public Infrastructure
The government will also promote the development of Digital Public Infrastructure (DPI). DPI is a shared digital infrastructure that can be used by both the government and the private sector. This will help to improve the efficiency and effectiveness of government services.
Financial Inclusion
The government will continue to promote financial inclusion. This will help to ensure that all citizens have access to banking and other financial services.
Conclusion
The Union Budget 2024-25 is a forward-looking budget that will help to boost economic growth and improve the quality of life for all citizens. The government's focus on infrastructure development, digitalization, and financial inclusion will help to create a more prosperous and inclusive India.
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