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The Finance Minister has talked about 5 schemes for which they've set aside an outlay of 2 Trillion.
First is the First Time Employment Support.
Those who join their first job and are registered with the Government's EPFO, can get up to ₹15,000 from the Government.
Second, in the manufacturing sector, specifically, it has provided for more benefits to both the employees and employers.
Third, Employer Support has been provided to encourage employers to hire more employees, and the government will contribute up to ₹3,000 per month for two years in the EPFO on behalf of the employers.
Fourth, the government has promised to launch a Skilling Scheme to help 2 million youth to become skilled in the next five years.
The fifth and most interesting scheme, the government has promised to provide internship opportunities for 1 million youth in the top 500 companies for 12 months.
This point is interesting because the same thing was mentioned in Congress's manifesto.
Providing internship opportunities in top companies. This scheme was favoured by both parties, and is a positive step.
Now, it remains to be seen, if and how well will these schemes be implemented.
You can already see such statements by the Finance Minister from 24th July, that the Job Schemes will not be compulsory for companies, rather, they would be merely a nudge.
How many companies will actually implement these?
That is a major question.
And finally, we come to the last point. which is again being criticised a lot is the distribution of money among different states.
In this Budget, the government took special notice of the states of Andhra Pradesh and Bihar and allocated a lot of money for them, in comparison to other states.
150 billion have been allocated for the capital of Andhra Pradesh for the development of Amravati.
Though the Andhra Pradesh elections are over, elections in Bihar are yet to be held.
So, the budget allocation for Bihar is at the next level.
The government will spend ₹600 billion on different infrastructure projects in Bihar.
Building expressways, power plants, heritage corridors, new airports, and 115 billion are being given to the state, for flood mitigation.
Apart from this, under the Tourism Budget, Bihar will be getting the biggest share.
Vishnupad Mandir of Gaya and Mahabodhi Mandir in Bodh Gaya, will be given world-class facilities and tourism infrastructure, as per the Finance Minister.
It is extremely clear that BJP in its minority government, is doing its best to appease its allies TDP and JDU by allocating so much money to these two states.
This is why the Leader of Opposition, Rahul Gandhi called this budget a Seat Conservation Budget.
In the past, the BJP government used to favour the states of Gujarat and Uttar Pradesh like this. While the other states were ignored.
But now the focus has shifted to Andhra Pradesh and Bihar.
As a conclusion, I would like to state that the share of the top 10% in our country's income kept on increasing, while the middle-class's share kept decreasing.
To address this issue, it's important that the government focuses on the growth of the middle- class.
Small businesses needs to be promoted instead of promoting large corporate companies. Their billionaires friends should be taxed more instead of the middle class people.
I fail to understand the problem of why the government cannot tax the billionaires more.
Thank you for reading my post.
Concluded