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The budget was passed following the Budget 2024-25 debate in Lok Sabha, during which Union Finance Minister Nirmala Sitharaman responded to the Opposition’s questions. She also highlighted the government’s goal to cap the fiscal deficit in coming years.
Union Finance Minister Nirmala Sitharaman slammed the opposition on Tuesday for its undue criticism and refuted all the allegations of bias for allies-ruled states and neglect of opposition-ruled ones in the Union Budget 2024 presented by her.
Replying to the budget discussion in the Lok Sabha, Sitharaman clarified that no state was denied funds and slammed the opposition for misleading the nation by suggesting so. She recalled that the UPA government also did not mention the names of all states in its Budget speeches, and asked if it had also not provided any funds to the states.
No state is being denied any money: FM
Sitharaman also slammed the Opposition for claiming that the Budget will only release funds for Bihar and Andhra Pradesh. “If a state’s name is not mentioned in Budget speech, it doesn’t mean that no money is given to them,” Sitharaman said.
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“The Budget of 2004-2005 did not take the name of 17 states. I would like to ask the members of the UPA government at that time – did money not go to those 17 states? Did they stop it? If they have stopped it, then they have every business to raise questions,” the Finance Minister added.
“Government is complying with the fiscal deficit trajectory. It will bring down the deficit to below 4.5 per cent by 2025-26 from the targeted 4.9 per cent for the current fiscal. The deficit was 5.6 per cent in 2023-24,” Sitharaman said.
Lok Sabha passes Union Budget 2024-25
The lower house passed the Union Budget 2024-25, presented by Finance Minister Nirmala Sitharaman last week, on Tuesday (July 30) through a voice vote.
Aside from the Union Budget, the budget of the Union Territory of Jammu & Kashmir was also passed in Lok Sabha via voice vote on Tuesday.
The budget was passed following the Budget 2024-25 debate in Lok Sabha, during which Union Finance Minister Nirmala Sitharaman responded to the Opposition’s questions. She also highlighted the government’s goal to cap the fiscal deficit in coming years.
The Finance Minister said that the government is working to realise its goal of building ‘Viksit Bharat’ by the year 2047. She stated that India, being the fastest growing economy, has overcome the after-effects of the COVID-19 pandemic.
Sitharaman stressed that the FY25 Budget has not given less allocation to any sector compared to FY24 and no state is being denied any money.
“Unemployment rate, for the age group of 15-59 years has actually come down for J&K, from 6.4% in 2020-21 to 5.7% in 2021-22 to 4.4% in 2022-23,” Sitharaman said.
Speaking on the Union Territory of J&K Sitharaman said, “We have provided substantial financial support of ₹17,000 crore in the Union Budget of UT Jammu and Kashmir this year. It includes ₹12,000 crore towards financing the cost of Jammu and Kashmir Police.”
On agriculture, the Finance Minister said, “Agriculture had 0.30 lakh crore in 2013-14, whereas now it has 1.52 lakh crore. It is 8,000 crores more than last year, which is 2023-24. Education and employment had 0.85 lakh crore allotted in 2013-14, whereas today it is 1.48 lakh crore, 23% more allocation.”
“The Budget allocation for the department of agriculture and farmers’ welfare was only ₹21,934 crore in 2013-2014. However, in 2024-2025, it has increased to ₹1.23 lakh crore. There’s a five-fold increase. More than ₹3.2 lakh crore have been disbursed to over 11 crore farmers under PM Kisan since its launch,” she added.
(With inputs from agencies)
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