New Delhi

The Union Budget for 2024-25 is comprehensive and robust, taking special care of every segment of society. Allocations for rural development, skills, jobs, education, health, and agriculture have been significantly increased.

Shahid Saeed, Media Incharge of the Muslim Rashtriya Manch, said this while praised the government for providing substantial relief to the common man to combat inflation and unemployment. He described the budget as “balanced, and supporting all sections for holistic development.” He also commended Finance Minister Nirmala Sitharaman for presenting her seventh consecutive budget, setting a record and delivering a commendable budget.

Dr. Shahid Akhtar who is also a member of the National Commission for Minority Educational Institutions (NCMEI), highlighted the budget's potential to create new opportunities and employment. He pointed the 30% increase in budget allocation for education, skill development, and employment, amounting to ₹1.48 lakh crore, promises a bright future for the youth and a solid foundation for a developed India. The budget also prioritizes higher education with an allocation of ₹44,095 crore, ₹1,800 crore for world-class institutions, ₹355 crore for research and innovation, and ₹37,500 crore for the overall education campaign, indicating a promising future for India.

Dr. Shalini Ali, convener of the National Women's cell of RMR said provisions for women, including the establishment of hostels and crèches for working women is paiseworthy. “Three new schemes have been announced to promote employment, with an additional salary provision for women, highlighting the government's commitment. Amendments to the Model Skill Loan Scheme aim to support 25,000 students annually, offering e-vouchers for loans up to ₹10 lakh for higher education. Additionally, 1 lakh students will receive a 3% annual interest discount on loans. The reduction in customs duty on gold and silver to 6% will make jewelry more affordable, especially benefiting women,” she said.

Dr. Majid Talikoti, National Convenor of the RMR, mentioned the increased hopes for cheaper cancer treatment due to reduced customs duty on related medicines and equipment. A budget provision of ₹90,000 crore for health services, surpassing the previous year's allocation, aims to fill the gap in healthcare spending. While India currently spends about 1.3% of its GDP on health, the government is working towards the global standard of 3%, a positive step forward, he said.a

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Shahid Saeed emphasized that the budget addresses every section of society. It includes an allocation of ₹3 lakh crore for schemes benefiting women and girls, and raises the Mudra loan limit from ₹10 lakh to ₹20 lakh. Special focus on MSMEs and manufacturing includes new measures to ensure continued bank loans for MSMEs during stress periods. Additionally, 3 crore new houses will be built under the Pradhan Mantri Awas Yojana, covering both rural and urban areas. Other significant allocations include ₹10 lakh crore for urban housing, ₹2.66 lakh crore for rural development, and ₹26,000 crore for road connectivity projects. The new income tax system raises the standard deduction limit from ₹50,000 to ₹75,000 and adjusts tax rates, with no tax on incomes up to ₹3 lakh.