Climate change, employment, e-commerce: How analyst decode Budget 2024 | News on Markets
Budget 2024: The Budget 2024 proposals announced by Finance Minister Nirmala Sitharaman on July 2023 made a slew of announcements. The allocation of Rs 10 trillion for urban housing, investment-ready industrial parks in 100 cities in partnership with states and the private sector, increasing the limit of Mudra loans from Rs 10 lakh to Rs 20 lakh, and planning an integrated tech platform for improving outcomes under IBC, are among some of the major announcements that the Finance Minister made in her speech.
Meanwhile, the Indian equity markets remain volatile on Budget day. While writing this news, at around 12:04 PM, the BSE Sensex was quoted as trading at 80,340.45, down 161.63 points or 0.20 per cent, while the NSE Nifty50 was seen at 24,457.80, down 51.45 points or 0.21 per cent.
Here’s How analysts decoded Budget 2024 proposals
Agriculture, Anand Ramanathan, Partner and Consumer Products and Retail sector Leader, Deloitte India
The budget focuses on important areas such as climate resistant seed variety distribution, scaling digital public infrastructure and natural farming which will improve farm level productivity. Mission for self-sufficiency in pulses, encouraging shrimp production and focus on vegetable production clusters will help in aligning production to emerging changes in consumption of fresh produce and proteins.
Employment and Skilling, Sahil Gupta, Partner, Deloitte India
The outlay provided for employment and skilling will help our youth from two perspectives – education and skilling loans will bring more students to the education fold thereby increasing the gross enrolment ratio (a move towards achieving 50% target by 2035). Second, it will help prepare our youth with skills relevant for industry needs, thereby adding to the productive workforce needs of today and tomorrow.
E-Commerce, Anand Ramanathan, Partner and Consumer Products and Retail sector Leader, Deloitte India
Focus on e-commerce hubs will help the D2C ecosystem including small vendors and aggregators to bring in greater efficiency in their operations and improve accessibility to markets including exports.
First Published: Jul 23 2024 | 12:21 PM IST
