The Economic Survey admits that the employment situation is serious. To meet the backlog of employment and ensure development, employment generation of 80 lakh per annum is necessary up to 2030. Before going into further detail, let us see the budget proposals on job creation.
Mr Gandhi said his expectation was this Budget would favour farmers, youth, labour and small businesses, but this was nowhere evident. He said the Budget “Halwa” ceremony picture had no Dalits or backwards and this also proved the Budget’s sweetness was meant for just a few.
Dravida Munnetra Kazhagam (DMK) on Saturday held protests across Tamil Nadu against the Centre, alleging that the state was neglected in the Union Budget 2024.
Speaking about major themes, he said unemployment is the biggest challenge. The Centre for Monitoring Indian Economy (CMEI) estimated the all India unemployment rate in June 2024 at 9.2 per cent. It may have come down, but a wrong picture has been projected.
Finance Minister Nirmala Sitharaman proposed that the short term gains on certain financial assets shall attract a tax rate of 20%, while that on all other financial assets and all non-financial assets shall continue to attract the applicable tax rate.
He claimed that like in the last nine years, this time too, the Central government is not going to give more than Rs 350 crore to Delhi.
The BRS reminded the MPs that this Budget will determine the foundation for the next five years of the Modi government.
It said the government is likely to retain a capex target for FY25 at Rs 11.1 trillion, growth of 17% compared to FY24.
During the meeting, in-depth discussions were held aimed at giving direction to the country’s economy in the coming fiscal year.
The plunge is attributable mainly to several geo-political factors, including a sluggish global economy, high-interest rates by the US Federal Reserve and several international conflicts.
