Focus on Jobs, Rural Economy, and Manufacturing
Even as the Union Budget 2024-25 approaches, you can expect a significant emphasis on job creation, rural economy, and manufacturing. In a meeting with economists, Prime Minister Narendra Modi highlighted the need to step up job creation and discussed measures to boost the manufacturing, agriculture, and rural sectors.
Discussion on Centre-State Relations and Accountability
Jobs are not the only area of focus; the Prime Minister also touched upon the complexities of Centre-state relations, particularly the issue of states not assuming full accountability over implementing centrally-funded programmes.
Another crucial aspect of the discussion was the need for states to take ownership of implementing programmes and schemes funded by the Centre. This lack of accountability has been a long-standing issue, and it’s important to address it to ensure effective implementation of policies and programmes.
Emphasis on Job Creation and Manufacturing Growth
While discussing the Union Budget 2024-25, you’ll be interested to know that the Prime Minister emphasized the need to focus on job creation and manufacturing growth. This is crucial to achieving the goal of becoming a developed nation by 2047. The meeting highlighted the importance of taking measures in the manufacturing, agriculture, and rural sectors to step up job creation and drive economic growth.
Concerns over Rural Economy, Agricultural Growth, and Credit Growth
Even as the government focuses on job creation and manufacturing growth, you should be aware that concerns over the rural economy, agricultural growth, and credit growth were also flagged during the meeting. Economists expressed worries about stagnant wage trends, tepid consumption demand, and lack of employment opportunities in rural areas, as well as sluggish credit growth despite initiatives like the Mudra scheme.
Over the years, the rural economy has been a cause for concern, with slow growth in agricultural production and limited job opportunities. This has led to stagnant wage trends and low consumption demand, ultimately affecting the overall economy. You’ll want to keep an eye on how the government addresses these concerns in the upcoming budget, particularly in terms of initiatives to boost agricultural growth, create jobs, and increase credit flow to rural areas.
