The Modi 3.0 government’s budget is eagerly anticipated, with high expectations from various sections of society. This budget will be a significant test for the new NDA coalition’s commitment to its diverse electorate, with a focus on addressing the needs of farmers, job seekers, and entrepreneurs
Strengthening Coalition Ties
The budget, expected by mid-July, aims to balance fiscal responsibility with political strategy. It will likely strengthen the BJP’s alliances with key partners like Janata Dal (United), Telugu Desam Party, and Lok Janshakti Party (Ram Vilas) by addressing demands for ‘Special Category Status’ with tailored financial packages for development.
Budget 2024: India today has 80 chess grandmasters compared to 20 in 2010, says Nirmala Sitharamanhttps://t.co/q05nTHv4nX
— Beenam Vats(मोदी का परिवार) (@VatsBeenam) July 1, 2024
via NaMo App pic.twitter.com/rCQLKHGx5z
Economic Reforms with a Populist Bent
The Modi 3.0 government plans to combine economic reforms with populist measures. Increased welfare spending, direct cash transfers, and subsidies on essential commodities are expected to support vulnerable sections of society. Infrastructure projects will be prioritized to stimulate growth and create jobs, particularly in transportation, energy, and digital connectivity.
Employment Generation Initiatives
To tackle unemployment, the government may announce new job initiatives or expand programs like MGNREGA. This could include increasing workdays or wages, boosting rural economies, and focusing on skill development programs for youth in technology and manufacturing sectors.
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— Technofundastocks (@Hinutriti) July 1, 2024
Agricultural and Rural Focus
The budget will likely prioritize agriculture and rural development, addressing issues raised by key agrarian states like Haryana, Rajasthan, and Uttar Pradesh. Enhancements in Minimum Support Prices, loan waivers, and effective Direct Benefit Transfers are expected to support farmers and regain their trust.
Conclusion
This budget is more than a financial statement; it’s a roadmap for governance reflecting the Modi 3.0 government’s vision of inclusivity, development, and growth. It aims to balance coalition politics with public expectations, strengthening the nation’s economic fabric and political alliances.
