Interim Budget 2024 is on the horizon, promising pivotal decisions that can reshape our social welfare landscape. In this budgetary anticipation, major allocations are expected to fortify crucial initiatives like Free Foodgrains, propel MGNREGA, and elevate the Vishwakarma Scheme. Explore potential impact of these upcoming budget highlights on India’s path to economic empowerment and social well-being.
Five-Year Free Foodgrains Program
The government pledges to provide free foodgrains for five years starting January 1, 2024, aimed at alleviating financial hardship for the less privileged and allowing savings for other essential needs.
Digital India Initiatives
Utilization of technology-based platforms under the Digital India initiative to ensure efficient delivery of benefits, with the ‘One Nation One Ration Card (ONORC)’ initiative facilitating seamless portability of entitlements for migrants.
MGNREGA Scheme Enhancement
Likely significant increase in the allocation for the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) in the Interim Budget, building on the Rs 60,000 crore allocation in the 2023-24 Budget.
MGNREGA Empowering Women
MGNREGA, designed as a rural job safety net, has seen a surge in demand during the current financial year. Notably, women’s participation has risen to 57.8%, surpassing men, contributing to women’s empowerment.
Vishwakarma Scheme Enhancement
Expected increase in the budget allocation for the Vishwakarma Scheme, initially allocated Rs 13,000 crore in the 2023-24 budget. Launched to support traditional artisans, the scheme provides training, loans, and marketing support to enhance their skills and connect them to local and global markets.
Artisan Economic Empowerment
The Vishwakarma Scheme’s success is evident with close to 74 lakh applications submitted by artisans. The scheme aims to economically empower artisans, especially those from marginalized communities, through skill upgrades, collateral-free loans, and marketing assistance.
Quality Certification and Marketing Support
Under the Vishwakarma Scheme, the government offers quality certification, branding, and marketing support, including onboarding on e-commerce platforms like GeM. These efforts aim to improve product quality, scale, and market reach for artisans.
Integration with Domestic and Global Markets
The overarching goal of the Vishwakarma Scheme is to integrate artisans with domestic and global markets, fostering economic empowerment for various marginalized sections of society.
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