The Chhattisgarh

Tag: Finance Minister Nirmala Sitharaman

  • Explained: Is It Union Budget Or Bihar-Andhra Budget? Why Nitish-Naidu Run States ‘Got Too Much’ This Time – 10 Points |

    New Delhi: The Union Budget for the financial year 2024-25, presented by Finance Minister Nirmala Sitharaman in Parliament on Tuesday, has brought substantial allocations for Bihar and Andhra Pradesh. This is the first budget of Prime Minister Narendra Modi’s third term and the seventh for Sitharaman as Finance Minister. The budget has raised questions and sparked debates, with some labeling it as a budget aimed more at political gains rather than national development. Here are 10 key points explaining why Bihar and Andhra Pradesh received significant allocations and the controversies surrounding it:

    Major Announcements for Bihar and Andhra Pradesh:

    Finance Minister Nirmala Sitharaman announced an allocation of ₹58,900 crores for various development projects in Bihar and ₹15,000 crores for the development of Andhra Pradesh’s capital, Amaravati, and other projects. This significant allocation has been seen as a major boon for the states led by JD(U) President and Bihar Chief Minister Nitish Kumar and TDP Chief and Andhra Pradesh Chief Minister Chandrababu Naidu.

    Political Context:

    Both Nitish Kumar and Chandrababu Naidu are allies of the ruling NDA at the Center. With the BJP falling short of a majority by itself, needing the support of these regional parties, the allocations are seen as a strategic move to secure their continued alliance and support.

    Opposition’s Allegations:

    The opposition has criticized the budget, accusing the Modi government of political favoritism. Congress MP and Leader of the Opposition in Lok Sabha, Rahul Gandhi, called it a “save the chair” budget, aimed at appeasing political allies and business friends at the expense of other states.

    Claims of Regional Bias:

    Various opposition leaders, including Rahul Gandhi, Shashi Tharoor, and P. Chidambaram from Congress, and Akhilesh Yadav from SP, have criticized the budget for being biased. They have alleged that it neglects other regions and states, focusing only on BJP’s political allies.

    Praise from Allies:

    Despite the criticism, BJP and its allies have praised the budget. Andhra Pradesh CM Chandrababu Naidu thanked PM Modi and Finance Minister Nirmala Sitharaman. Bihar’s Union Minister Giriraj Singh welcomed the budget, calling it a “blessing” for Bihar.

    Substantial Allocations for Bihar:

    The budget includes ₹26,000 crores for various road projects in Bihar, including expressways connecting Patna-Purnia and Buxar-Bhagalpur. It also allocates ₹21,400 crores for a 2400 MW power project in Pirpainti and ₹11,500 crores for flood relief and management.

    Development of Cultural and Religious Sites:

    The budget mentions the development of Mahabodhi Temple and Vishnupad Temple in Bihar, akin to the Kashi Vishwanath Corridor. Additionally, new medical colleges, airports, and sports infrastructure will be developed in Bihar.

    Support for Andhra Pradesh:

    The budget allocates ₹15,000 crores for Andhra Pradesh under the Andhra Pradesh Reorganization Act. This includes funds for critical infrastructure like water, power, railways, and roads, along with financial support for the completion of the Polavaram irrigation project and the development of backward areas.

    Strategic Importance of Bihar and Andhra Pradesh:

    The significant allocations are seen as a strategic move by the BJP to maintain its political alliances. In the 2024 Lok Sabha elections, BJP secured 240 seats, falling short of the majority mark of 272. TDP and JD(U) won 16 and 12 seats respectively, making their support crucial for the BJP’s government formation.

    Balancing Political Demands:

    While Bihar and Andhra Pradesh did not receive the Special Status they have long demanded, the substantial budget allocations serve as a compensatory measure. This move ensures that the BJP retains the political support of Nitish Kumar and Chandrababu Naidu, crucial allies in the NDA coalition.

  • Vishwakarma Yojana: Modi government will give subsidy up to eight percent on interest for Vishwakarma Yojana.

    Finance Minister Nirmala Sitharaman said that the scheme launched by Prime Minister Narendra Modi on Sunday Vishwakarma Scheme Under this, the government will give subsidy up to eight percent on the loans given to artisans. At the event organized to launch the scheme, he said that the government has already made a provision of Rs 13,000 crore in the budget for 2023-24.

    Artisans will be given collateral-free loans at affordable interest rates of five percent.

    Elaborating on the Vishwakarma scheme, Finance Minister Nirmala Sitharaman said that artisans will be provided collateral-free loans at a very affordable interest rate of five percent. He said that this scheme includes 18 sectors related to carpenters, goldsmiths, blacksmiths, masons, stone sculptors, barbers and sailors. Under this, the government will give loan up to Rs 3 lakh.

    Artisans will be given a loan of Rs 1 lakh initially

    Finance Minister Nirmala Sitharaman It said that initially a loan of Rs 1 lakh will be given and after repayment for 18 months, the beneficiary will be eligible for an additional Rs 2 lakh.

    Apart from financial assistance, these facilities will also be available under Vishwakarma Scheme.

    The components of the scheme will include not only financial assistance but also advanced skills training, knowledge of modern digital technology and efficient green technologies, brand promotion, connectivity with local and global markets, digital payments and social security.

    Each beneficiary will be given skill training for five days along with a daily allowance of Rs 500.

    The Finance Minister said that each beneficiary will be given skill training for five days along with a daily allowance of Rs 500. Each beneficiary will be identified in a three-tier manner.

    A grant of Rs 15,000 will be given as toolkit incentive

    The Finance Minister said that apart from this, a grant of Rs 15,000 will be given as toolkit incentive. For digital transactions, an incentive of Re 1 per transaction will be provided for up to 100 transactions in a month. This will greatly benefit the Scheduled Castes, Scheduled Tribes, Other Backward Classes (OBC), women and weaker sections.

    Prime Minister said on the launch of ‘PM Vishwakarma’ scheme, giving a life of dignity to everyone is ‘Modi’s guarantee’

    Prime Minister Narendra Modi launched the ‘PM Vishwakarma’ scheme on Sunday on the occasion of Vishwakarma Jayanti and under this, mentioning the provision of loans up to Rs 3 lakh to artisans and craftsmen, he said that to give a life of dignity to everyone and Providing facilities is Modi’s guarantee. Here at the newly built India International Convention and Expo Center ‘Yashobhoomi’, the Prime Minister addressed the artisans and craftsmen from across the country as ‘Vishwakarma’ and said that just as the spine plays a role in the body, similarly ‘Vishwakarma’ plays a vital role in the lives of people and society. It plays a very important role. He said, it is difficult to imagine everyday life without them. This scheme is a ray of hope for lakhs of artisans and craftsmen who work with hands and tools.

    Even in the era of ‘fridge’, people like to drink water from jug.

    The Prime Minister said that be it a blacksmith or a tailor or any other artisan, their importance is never going to end. No matter how far the world progresses and where technology reaches, their role will always remain important because even in the age of ‘fridge’ people like to drink water from a jug. He said, therefore, the need of the hour is to recognize these Vishwakarma companions and support them in every way. Our government has come as an ally to our Vishwakarma brothers and sisters to increase their respect, power and prosperity.

    Government will now spend Rs 13,000 crore on ‘PM Vishwakarma’ scheme

    Under this scheme, special attention has been given to artisans and craftsmen working in 18 different sectors. The government is going to spend Rs 13,000 crore on ‘PM Vishwakarma’ scheme. Modi said, when the bank does not ask for guarantee from you. So Modi gives your guarantee. You will get a loan up to Rs 3 lakh without asking for any guarantee and it has also been ensured that the interest on this loan remains very low.