The customary Halwa ceremony in the presence of Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman.
The customary Halwa ceremony in the presence of Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman.@FinMinIndia / X

DTE Coverage: Budget 2024-2025

Down To Earth presents main takeaways from the Union Budget

1. Budget 2024-25 should motivate corporates to invest in public health

In the healthcare sector, CSR supports local healthcare providers, stimulates economic growth and creates job opportunities.
In the healthcare sector, CSR supports local healthcare providers, stimulates economic growth and creates job opportunities.Photo: Vikas Choudhary / CSE

Providing tax incentives to CSRs, highlighting priority areas and promoting public-private partnerships are crucial

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2. Budget 2024-25: As Economic Survey admits that core inflation remains sticky, India’s first budget offers eerie parallels

R K Shanmukham Chetty, Finance Minister broadcasting on the Budget presented by him in the Indian Parliament in November 1947. From Air, New Delhi.
R K Shanmukham Chetty, Finance Minister broadcasting on the Budget presented by him in the Indian Parliament in November 1947. From Air, New Delhi.Photo: Photo Division, Ministry of Information & Broadcasting, Government of India via Wikimedia

World War II had just ended; and the Subcontinent sundered by a Partition; inflation thus was exceptionally high

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3. Budget 2024-25: Operationalisation of ANRF may be too little, too late

iStock, for representation

Committees overseeing the foundation look like any other government panel with little representation from other stakeholders, raising suspicion it may be old wine in a new bottle

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4. Budget 2024-25: Bid to operationalise ANRF could end up being a wasted effort

iStock photo for representation

Sitharaman’s vague statement, lack of representation in institutions’ governing boards and government's bid to change funding models for research mean there are plenty of gaps

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5. Budget 2024-25: Compensation for crop losses continues to be a distant dream for Indian farmers

The major reasons for post-harvest losses include insufficient cold chain facilities, poor infrastructure, inadequate storage capacity, and transportation-related losses.
The major reasons for post-harvest losses include insufficient cold chain facilities, poor infrastructure, inadequate storage capacity, and transportation-related losses. iStock/LP

It is no secret that farmers in India are not able to fully monetise their produce; crop losses make the situation worse, and the latest Budget offers little hope

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6. Budget 2024–25 faces criticism from farmers’ group for ignoring their needs

Farmers protesting in Delhi in March 2024, demanding minimum support prices and loan waivers.
Farmers protesting in Delhi in March 2024, demanding minimum support prices and loan waivers.Vikas Choudhary / CSE, file photo

Reduced allocations in budget & lack of MSP guarantee keeping farmers in distress, states ASHA-Kisan Swaraj network

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7. Budget 2024-25: Sitharaman unveils climate finance taxonomy, experts hail move but concerns over greenwashing persist

Finance Minister Nirmala Sitharaman announcing the Union Budget 2024-2025 on July 23, 2024.
Finance Minister Nirmala Sitharaman announcing the Union Budget 2024-2025 on July 23, 2024.Screengrab from Sansad TV

Taxonomy to classify economic activities that support climate commitments and other environmental goals

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8. Budget 2024-25: Nuclear option vital for energy mix; Centre to partner with private sector to develop miniature reactors

Globally, Russia developed the first commercial SMR, which has been running since May 2020, producing energy from two 35 MW plants.
Globally, Russia developed the first commercial SMR, which has been running since May 2020, producing energy from two 35 MW plants. iStock

Finance Minister Nirmala Sitharaman stated that the entry of private players into the nuclear energy sector will bolster India’s energy security

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9. Budget 2024-25: NTPC & BHEL to set up a hi-tech coal power plant. How will it work?

Photo: iStock

AUSC technology can boost efficiency of India's thermal power plants to 46% from 32%. Support, partnership for small modular nuclear reactor key to energy security, says FM

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10. Budget 2024-25: Agri sector sees 4.5% growth in allocation; boost to pulses, oilseeds but other schemes overlooked

Photo: iStock

Combined, agriculture and allied sectors saw an allocation of Rs 1,39,607.54 crore

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11. Budget 2024–25: Allocation for MGNREGS remains stagnant at Rs 86,000 crore

Labourers working for a water conservation project under the Mahatma Gandhi National Rural Employment Guarantee Act in Rajasthan’s Dungarpur district.
Labourers working for a water conservation project under the Mahatma Gandhi National Rural Employment Guarantee Act in Rajasthan’s Dungarpur district.Vikas Choudhary / CSE, file photo

Experts fear the funds allotted may be exhausted by October

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12. Budget 2024–25 offers giant leap for India’s space economy with Rs 1,000 crore venture capital fund

ISRO will be the primary buyer in the space market, which will be determined by the budget. Seen here, ISRO's Pushpak aircraft.
ISRO will be the primary buyer in the space market, which will be determined by the budget. Seen here, ISRO's Pushpak aircraft.ISRO / X (formerly Twitter)

Fund could be gamechanger for startups and small businesses in the industry; Experts say move holds promise if executed well

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13. Budget 2024-25: Lacklustre provisions put question mark on commitments towards ambitious Biodiversity Plan

Uttarakhand's famed Valley of Flowers National Park is losing its floral density and diversity. Chamoli, Uttarakhand, August 2022.
Uttarakhand's famed Valley of Flowers National Park is losing its floral density and diversity. Chamoli, Uttarakhand, August 2022.Photo: Vikas Choudhary / CSE

Instead of increasing allocation for overall biodiversity protection, more focus is on conservation of specific species like tiger

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14. Budget 2024-25: Will measures taken for the renewable energy sector help achieve 2030 goals?

The growth in solar energy has been primarily from the ground-mounted (utility-scale segments) while the rooftop has lagged behind in target installations.
The growth in solar energy has been primarily from the ground-mounted (utility-scale segments) while the rooftop has lagged behind in target installations. iStock

Indian government has chalked out plans to generate 500 GW of energy from renewable sources by 2030; but budget allocation remains to impediment

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15. Budget 2024-25: Announcements for agriculture sector are an opportunity missed

Legalising MSP for a broader range of crops could potentially diversify crop production, enhance farmers’ livelihoods and benefit the climate.
Legalising MSP for a broader range of crops could potentially diversify crop production, enhance farmers’ livelihoods and benefit the climate.iStock/Bartosz Hadyniak

Mere speeches won’t fix the agrarian crisis in the country and the latest Budget fails to provide a viable solution for the multifaceted issues ailing Indian farmers

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16. Budget 2024-25: Centre introduces cash transfers, internships, EPFO incentives to ‘drive job creation’

Unemployment and creation of quality jobs had emerged as one of the key issues in the Lok Sabha national elections.
Unemployment and creation of quality jobs had emerged as one of the key issues in the Lok Sabha national elections.Photo: Surya Sen / CSE

The government has allocated Rs 10,000 crore towards ‘New Employment Generation’ scheme

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17. Budget 2024-25 promises revamp in agricultural research but budgetary allocation sees minimal increase

Vikas Choudhary / CSE, file photo

Government’s ambitious plan for 109 new climate-resilient crops faces scrutiny as agricultural research funding sees only a 0.6% rise

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18. Budget 2024-25 fuels hopes for Bihar’s long-awaited Kosi-Mechi river link, but experts wary

The project aims to connect the Kosi river, known as ‘the sorrow of Bihar’, and divert its surplus water to the Mechi, a tributary of the Mahananda river.
The project aims to connect the Kosi river, known as ‘the sorrow of Bihar’, and divert its surplus water to the Mechi, a tributary of the Mahananda river.Vikas Choudhary / CSE, file photo

Concerns over viability as project aims to address monsoon devastation and irrigation

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19. Budget 2024-25: Environment ministry allocation sees slight increase

The Centre has more than doubled the National Tiger Conservation Authority’s budget to Rs 35 crore, up from Rs 15.8 crore in 2023-24.
The Centre has more than doubled the National Tiger Conservation Authority’s budget to Rs 35 crore, up from Rs 15.8 crore in 2023-24.iStock

Institutions and afforestation programmes, including National Tiger Conservation Authority receive boost

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20. Budget 2024-25: Did Nirmala Sitharaman mention ‘multilateral development banks’ in her speech only for brownie points?

Union Finance Minister Nirmala Sitharaman.
Union Finance Minister Nirmala Sitharaman.Photo: PIB

MDBs have never been mentioned in budget documents or in Sitharaman’s previous speeches; taking loans from MDBs is a long and complicated process

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