Finance Minister Nirmala Sitharaman outlined changes in allocations for Major schemes this Interim Budget 2024. Among the schemes witnessing a budgetary boost is the ‘Umbrella Scheme for Development of Scheduled Castes.’ The allocation for this scheme has been raised from ₹6,780 crore in the previous fiscal year to ₹9,560 crore in 2024, reflecting an increase of ₹2,780 crore. The government aims to promote the welfare of Scheduled Castes through their educational, economic and social empowerment.

Another scheme, the ‘Pradhan Mantri Aawas Yojna,’ saw a surge in budgetary allocation. From ₹54,103 crore in 2023, the budget has seen an increase to ₹80,671 crore in 2024, marking an augmentation of ₹26,568 crore. The Finance Minister emphasised the government’s commitment to launching a new scheme aimed at assisting deserving sections of the middle class residing in rented houses, slums, chawls, and unauthorised colonies to purchase or construct their own homes.

Furthermore, the government has increased its support for the ‘Modified Programme for Development of Semiconductors and Display Manufacturing Ecosystem in India’ under the Ministry of Electronics and Information Technology. The budget, which stood at ₹1,503 crore in the previous fiscal year, has been elevated to ₹6,903 crore in 2024, showcasing an increase of ₹5,400 crore.

In a push for sustainable energy initiatives, the budget for the ‘Solar Power Grid’ has witnessed an upswing from ₹4,757 crore to ₹10,000 crore.

Additionally, the ‘Swacch Bharat’ scheme has seen its allocation rise from ₹2,550 crore in 2023 to ₹5,000 crore in 2024, a boost of ₹2,405 crore.

Conversely, some schemes have experienced a reduction in budgetary allocations. The Fertilisers schemes such as ‘Nutrient Based Subsidy’  witnessed a decline from ₹60,300 crore in 2023 to ₹45,000 crore in the 2024 budget, marking a reduction of ₹15,300 crore. Similarly, the ‘Urea Subsidy’ has been curtailed from ₹1,28,594 crore to ₹1,19,000 crore, reflecting a decrease of ₹9,594 crore.

Atal Mission for Rejuvenation and Urban Transformation (AMRUT) focuses on development of basic infrastructure, in the selected cities and towns, in the sectors of water supply, sewerage and septage management, storm water drainage; green spaces and parks; and non-motorized urban transport, has also faced a reduction in budget, decreasing from ₹13,200 crore to ₹10,400 crore in the 2024 budget.

Additionally, the ‘National Investment and Infrastructure Fund’ has witnessed a budgetary cut from ₹2,600 crore to ₹1,501 crore, indicating a decrease of ₹1,099 crore.

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