Budget 2024: Full List of Schemes Announced in Budget 2024-25 By Finance Minister

The Finance Minister, Smt. Nirmala Sitharaman, presented the Interim Union Budget 2024-25 on 1 Feburary 2024. She proposed to launch many new government schemes in the Interim Budget and also proposed changes to the existing government schemes. Here, we have covered the list of government schemes announced in the Budget and the proposed modifications to the existing government schemes.

List of Government Schemes Proposed in Budget 2024 

Viksit Bharat by 2047

The government is working towards achieving the goal of Viksit Bharat by 2047. Viksit Bharat 2047 means making India a developed entity by 2047 by encompassing various areas of development, such as economy, environment, good governance and social progress. The government proposed a 50-year interest-free loan of Rs.75,000 crore to support the milestone-linked reforms by the State Governments, which will help to achieve Viksit Bharat 2047 goal.

Rooftop Solarisation Scheme

The government will launch a new Rooftop Solar Scheme or PM Suryodaya Yojana, which aims to achieve 300 units of free electricity per month to one crore households through rooftop solarisation. Below are the benefits expected from this scheme: 

• Savings up to Rs.15,000 - Rs.18,000 annually from free solar electricity for households and selling the surplus electricity to the distribution companies
• Charging of EVs (Electric Vehicles)
• Entrepreneurship opportunities for vendors supplying and installing solar panels 
• Employment opportunities for the youth having technical skills in the maintenance, manufacturing and installation of solar panels

Housing for Middle Class

The government will launch a scheme to help deserving people belonging to middle-class families living in rented houses, slums, chawls and unauthorised colonies to build or buy their own houses. 

Cervical Cancer Vaccination

In the Budget 2024, the government proposed to encourage vaccination for girls in the age group between 9 to 14 years for the prevention of cervical cancer. 

Atmanirbhar Oil Seeds Abhiyan

The government will formulate a strategy to achieve ‘Atmanirbharta’ for oil seeds, such as groundnut, mustard, soybean, sesame and sunflower. This scheme, or Abhiyan, will cover the widespread adoption of modern farming techniques, research for high-yielding varieties, value addition, procurement, market linkages and crop insurance.

Dairy Development

The government will formulate a comprehensive programme for supporting dairy farmers. The programme will control foot and mouth disease. It will be built based on the success of the existing schemes, such as the National Livestock Mission, Rashtriya Gokul Mission and Infrastructure Development Funds for Dairy Processing and Animal Husbandry. 

Corpus for Research and Innovation

The government will set up a Rs.1 lakh crore corpus with a 50-year interest-free loan. This corpus will provide long-term financing or refinancing with long tenors and nil or low-interest rates to encourage the private sector to scale up innovation and research in sunrise domains significantly. 

Scheme for Bio-Manufacturing and Bio-Foundry 

The government will launch a new scheme of bio-manufacturing and bio-foundry to promote green growth. This scheme will provide environmental friendly alternatives, such as bioplastics, biodegradable polymers, bio-agri-inputs and bio-pharmaceuticals. It will also help transform today’s consumptive manufacturing paradigm into regenerative principles.

Blue Economy 2.0 

The government will launch a scheme for adaptation and restoration measures, coastal aquaculture and mariculture with an integrated and multi-sectorial approach to promote climate-resilient activities for blue economy 2.0.

Changes in Existing Government Schemes

PM Awas Yojana (Grameen)

The government plans to provide two crore more houses in the next five years to meet the requirements arising from the increase in families under the PM Awas Yojana (Grameen). The government is close to achieving the two crore house target under this scheme despite the challenges due to COVID-19.

Maternal and Child Health Care

The government will bring various maternal and childcare schemes under one comprehensive programme to boost its implementation. There will be an expedition in the upgradation of Anganwadi centres under the ‘Saksham Anganwadi and Poshan 2.0’ for early childhood care, improved nutrition delivery and development. The government will also roll out the newly designed U-WIN platform for managing immunisation and expeditiously intensifying efforts of the ‘Mission Indradhanush’ throughout the country. 

Ayushman Bharat

Healthcare cover under the Ayushman Bharat scheme will be extended to all Anganwadi workers, helpers, and ASHA workers. 

Nano DAP

The application of Nano DAP on various crops will be extended after the successful adoption of Nano Urea on various crops in all agro-climatic zones.

PM Matsya Sampada Yojana

The establishment of the Department for Fisheries has resulted in a doubling of inland and aquaculture production and seafood export. The government will implement the following under the Pradhan Mantri Matsya Sampada Yojana (PMMSY): 

• Enhance aquaculture productivity from the existing 3 tons to 5 tons per hectare 
• Double exports to Rs.1 lakh crore 
• Generate 55 lakh employment opportunities in the near future 
• Set up five integrated aquaparks

Lakhpati Didi

The government has enhanced the target for Lakhpati Didi from two crore to three crore based on the success of nearly one crore women. Eighty-three lakh Self Help Groups (SHGs) with nine crore women are transforming the rural socio-economic landscape with self-reliance and empowerment, due to which nearly one crore women have become Lakhpati Didi. 

Achievements of Existing Government Schemes 

Pradhan Mantri Gareeb Kalyan Yojana

There has been a Direct Benefit Transfer (DBT) of Rs.34 lakh crore from the government using the PM Jan Dhan accounts, leading to savings of Rs.2.7 lakh crore for the government. The savings have helped to provide more funds for ‘Garib Kalyan’. 

PM-SVANidhi 

PM-SVANidhi Yojana has provided credit assistance to 78 lakh street vendors. Out of this, a total of 2.3 lakh vendors have received credit for the third time. 

PM-KISAN Yojana

Under Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) Yojana, direct financial assistance is provided to 11.8 crore farmers every year, including marginal and small farmers. 

PM Fasal Bima Yojana (PMFBY)

The government has provided crop insurance to four crore farmers under the PM Fasal Bima Yojana (PMFBY).

Skill India Mission 

The Skill India Mission has reskilled and upskilled 54 lakh youth, trained 1.4 crore youth and established 3,000 new ITIs. Many new institutions of higher learning, including 15 AIIMS, 7 IITs, 7 IIMs, 16 IIITs and 390 universities, have been set up. 

PM Mudra Yojana 

There has been a sanction of 43 crore loans for the entrepreneurial aspirations of our youth under the PM Mudra Yojana, aggregating to Rs.22.5 lakh crore. There has been a sanction of 30 crore PM Mudra Yojana loans to women entrepreneurs. 

PM Awas Yojana

Under the PM Awas Yojana (Rural), over 70% of houses are given to women as joint or sole owners, which has enhanced their dignity.

Pradhan Mantri Kisan Sampada Yojana

The implementation of the Pradhan Mantri Kisan Sampada Yojana has provided benefits to 38 lakh farmers and generated 10 lakh employment. 

Pradhan Mantri Formalisation of Micro Food Processing Enterprises Yojana 

With the implementation of the Pradhan Mantri Formalisation of Micro Food Processing Enterprises (PMFME) Yojana, there has been assistance to 2.4 lakh SHGs and 60,000 individuals with credit linkages.