In a crucial announcement on Thursday, Tuhin Kanta Pandey, Secretary of the Department of Investment and Public Asset Management (DIPAM), emphasized the government’s commitment to investor perspectives in the disinvestment process. The disinvestment target for the fiscal year 2024-25 has been set at Rs 50,000 crores, with Pandey highlighting the importance of value creation in public assets. He noted that the government’s responsibility is to consider investors’ viewpoints, especially as people now approach them as shareholders seeking dividends and capital gains.
Finance Secretary TV Somanathan added that the interim budget addresses diverse aspects, including a housing scheme for the middle class and a rooftop solarization initiative. The solarization program aims to make solar energy accessible to the middle class through subsidies and loans, simplifying the application process. Somanathan mentioned plans for private-sector involvement in infrastructure, with one lakh teams overseeing solar plate installation and maintenance. This initiative not only ensures free electricity for households but also allows surplus energy to be sold for profit.
Furthermore, the government intends to boost spending on educational institutions as part of its ‘Skill India’ movement, focusing on enhancing the skills of the youth. Somanathan assured that inflation will be controlled through prudent government policies.
The interim budget, presented in Parliament, concentrates on economic policies fostering growth, inclusive development, increased productivity, and opportunities for various sections. A key emphasis is placed on the eastern region, including Bihar, Jharkhand, Chhattisgarh, Odisha, and West Bengal, aiming to transform them into growth engines. The overarching goal is to make India a developed country by 2047.
This budget marks the final one of the Modi government’s second term, as Lok Sabha polls are expected in April-May. Finance Minister Nirmala Sitharaman, confident in the BJP-led NDA’s return to power, assured a detailed roadmap for ‘Viksit Bharat’ (Developed India) in the full budget scheduled for July.
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