Finance Minister Nirmala Sitharaman on Tuesday presented a record seventh consecutive Union Budget, highlighting the Modi government’s 3.0 economic development plans for this fiscal year.
The budget has identified priority areas such as productivity and resilience in agriculture, jobs and skills, inclusive human resource development and social justice, manufacturing and services, urban development, energy security and infrastructure.
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The government’s ‘Budget Overview’ document lists out several ‘major item’ expenditures for various sectors, including agriculture, commerce, defence and education.
Here we take a look at the allocation for urban development in this year’s budget and how it compares with the allocations from 2019-20 onwards.
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If we look at the graph above, we can see that there has been a steady increase in allocations for urban development since 2019-20, when Rs 48,032 crore was allocated to the sector.
This year, the government has invested Rs 82,577 crore, a significant increase from 2019-20 levels.
While allocation for urban development remained at the same level as in 2019-20, 2020-21 and 2021-22, there will be a notable increase in allocations from 2022-23 onwards, with the amount allocated to the sector jumping to Rs 76,549 crore from Rs 54,581 crore the previous year.
Union Budget 2024 Live | Nirmala Sitharaman presented a record seventh consecutive Union Budget as Finance Minister under the Modi 3.0 government on 23 July 2024. The Budget brings tax cuts for the middle class, focuses on employment through skilling and encourages employers. You can follow the latest coverage, live news, in-depth opinions and analysis only on Deccan Herald. Also follow us on WhatsApp, LinkedIn, X, Facebook, YouTube and Instagram.
Published on July 23, 2024 at 14:33 IST
