July 24, 2024
2 mins read

Budget allocation for rural development ministry up by 12%

Sitharaman also announced the launch of the fourth phase of the Pradhan Mantri Gram Sadak Yojana (PMGSY) to provide all-weather connectivity to 25,000 rural habitations…reports Asian Lite News

The rural development ministry has been allocated ₹1,77,566.19 crore in the 2024-25 Union Budget, marking an increase of about 12% from last year’s ₹1,57,545 crore allocation. Finance Minister Nirmala Sitharaman presented the budget in Parliament on Tuesday.

Compared to the revised estimates, the mid-year review by the ministry placed expenditure at ₹1,71,069.46 crore, indicating an increase of approximately 3.7%.

Rural Development Minister Shivraj Singh Chouhan praised the budget, stating it will further develop the rural sector. The flagship Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) has been allocated ₹86,000 crore, a 43% increase from the previous year’s ₹60,000 crore. The revised expenditure for MGNREGS last year also stood at ₹86,000 crore. In 2022-23, the scheme had an allocation of ₹73,000 crore, with actual expenditure reaching ₹90,805 crore. MGNREGS guarantees employment to at least one member of every household willing to do unskilled manual work, reserving at least one-third of jobs for women.

The Pradhan Mantri Awas Yojana-Gramin (PMAY-G) aims to build two crore rural houses with an allocation of ₹54,500.14 crore. Last year, ₹54,487 crore was allocated, but revised estimates showed ₹32,000 crore spent, about 41% of the allocated amount. Chouhan emphasized the budget’s focus on building more houses for the rural poor.

Sitharaman also announced the launch of the fourth phase of the Pradhan Mantri Gram Sadak Yojana (PMGSY) to provide all-weather connectivity to 25,000 rural habitations, with an allocation of ₹12,000 crore. In 2023-24, ₹19,000 crore was allocated for PMGSY, with revised estimates at ₹17,000 crore.

The National Livelihood Mission-Ajeevika received ₹15,047 crore, about 6% more than last year’s ₹14,129.17 crore. The revised estimates for the scheme matched the previous year’s allocation. Chouhan highlighted the budget’s potential to empower the poor and women through the National Rural Livelihood Mission, aiming to enable three crore women to earn ₹1 lakh per annum. Training for rural youth under the Deendayal Upadhyay Skill Development Scheme and benefits for five crore tribal people under the PM Janjati Unnat Gram Abhiyan were also emphasized. This scheme will improve socio-economic conditions in tribal areas and aspirational districts, covering 63,000 villages.

ALSO READ: Gazans Flee Amid Evacuation Orders: UN

Previous Story

Gazans Flee Amid Evacuation Orders: UN

Next Story

Congress CMs to boycott NITI Aayog meet

Latest from Business

RBI Holds Rates, Boosts Outlook

One of the most significant announcements was the upward revision of India’s GDP growth forecast for FY 2025–26—from 6.5% to 6.8% In a move reflecting cautious optimism, the Reserve Bank of India

Nykaa Expands Global Footprint with UK Debut

To commemorate this significant global debut, Nykaa’s leadership hosted an exclusive soiree at the George Club in Mayfair, London Nykaa, India’s leading beauty and lifestyle destination, is set to make a grand

Nothing’s CMF Goes Indian with $100M JV

Company has announced a $100 million joint venture with Indian electronics manufacturer Optiemus Infracom Limited….reports Asian Lite News Smartphone maker Nothing has spun off its budget sub-brand CMF into an independent subsidiary,

Airbnb Boosts India Economy

Among international guests, the largest inbound sources were the United States, United Kingdom, Canada, and Australia Hospitality giant Airbnb made a significant impact on India’s economy in 2024, contributing Rs 113 billion

Rupee, Markets Gain Amid Trade Optimism

Emerging market currencies, including the rupee, have gained support amid softening in the dollar. Reports suggesting that the US economy is on the verge of a recession have contributed to the greenback’s
Go toTop

Don't Miss

BiE -India’s Leading Clean Skincare Brand

At BiE the brand ethos is that beauty is more

NGO seeks more UN provisions, budget for disabled

The NGO worked tremendously during Covid-19 with the support of