“Agriculture receives a substantial boost in this budget, a substantial allocation of Rs 1.52 lakh crore for agriculture and allied sectors in FY24-25,” writes Paresh Kumar, a social researcher, author, social entrepreneur, co-founder and CEO of DevInsights – a leading social research-based consulting firm.

The much-awaited Union Budget 2024-25 for India was unveiled today, representing a major stride toward the country’s socio-economic progress. From the perspective of the social development sector, it focuses on critical areas like public health, employment, financial inclusion, and sustainable development. While the budget introduces some promising initiatives, it also overlooks several crucial social development issues.

Education / Skills: A significant allocation of Rs 1.48 lakh crore for education, employment, and skilling aims to bolster these sectors. Notably, the internship scheme will offer opportunities to 1 crore youths across 500 firms, while 20 lakh youths will be skilled over the next five years. Additionally, 1,000 Industrial Training Institutes (ITIs) will be upgraded, aligning course content with industry needs, and the skill loan scheme will be revised to support students financially. Rs 2 lakh crore allocation aimed at employing 4.1 crore youths over the next five years.

Gender Equity: Women’s participation in the workforce is set to increase through the establishment of working women hostels and creches. The introduction of a National Cooperation Policy will foster comprehensive development, and financial support for loans up to ₹10 lakhs for higher education in domestic institutions will make education more accessible. The government has identified nine priority areas: agriculture, employment, social justice, manufacturing, urban development, energy, infrastructure, research and development, and next-generation reforms.

Agriculture: Agriculture receives a substantial boost in this budget, a substantial allocation of Rs 1.52 lakh crore for agriculture and allied sectors in FY24-25. Promotion of large-scale vegetable production and support for farmer-producer organizations and startups. Initiation of 1 crore farmers into natural farming with certification and branding support. The budget promotes natural farming that aims to promote sustainable agricultural growth.

Public Health: Health sector measures include customs duty exemptions for cancer medicines and support for domestic medical equipment production. The Health Ministry has been allocated Rs 90,958.63 crore in the Union Budget 2024-25. The Ministry has witnessed a hike of 12.9 per cent over 80,517.62 crore in the Budget (revised estimates) for 2023-2024.

While the budget addresses many critical areas, there are notable gaps, in the social sector.
Rural Healthcare: Although there is increased funding for health, specific measures to address rural healthcare infrastructure gaps are missing. More detailed plans for expanding primary healthcare facilities and ensuring the availability of medical professionals in rural areas would have been beneficial.
Social Security: The budget lacks substantial measures to enhance social security programs for the elderly (approximately 11-12 per cent of total population) and differently-abled. Increased pension schemes or financial support tailored to these vulnerable groups would have been a welcome addition.

Mental Health: Mental health, an increasingly important aspect of public health, receives little attention in this budget. Allocating resources for mental health services, awareness programs, and support infrastructure could significantly impact societal well-being.

Quality of Education: While financial support for education is commendable, the budget does not sufficiently address the quality of education in public schools. Investments in teacher training, digital education resources, and infrastructure improvements are crucial for long-term educational outcomes.

The Union Budget 2024 demonstrates a balanced approach to immediate economic challenges while laying the groundwork for long-term sustainable development. However, to truly foster inclusive growth, addressing the overlooked areas in the social sector is imperative. As India moves forward, a holistic approach that leaves no one behind will be essential for realizing its socio-economic aspirations.