3 Things Unpacking the Union Budget 2024
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Jul 24, 2024 The podcast delves into the recent Union Budget 2024, exploring political reactions and economic impacts. It contrasts budget approaches under single-party majority and coalition government. The discussion focuses on addressing economic distress, boosting the economy, and the government's fiscal initiatives in India. It highlights how the government is acknowledging issues and moving away from denial towards resolution.
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Coalition Era Budget Shift
- This budget reflects a coalition approach, lacking a clear coherent theme unlike previous Modi government budgets.
- It acknowledges economic distress openly, a shift from past denial of unemployment and rural sector issues.
Employment Incentive Schemes
- Government announced employment-linked incentive schemes to financially assist job seekers and employers.
- These acknowledge stalled job creation despite GDP growth, aiming to nudge private sector hiring.
Agriculture Reconsidered as Priority
- Agriculture is now the government's top priority, reversing previous focus away from it.
- However, structural problems remain, and initiatives like promoting natural farming face incentive challenges.