National Desk, 23rd July: Union Minister Kiren Rijiju has lauded the Union Budget 2024 as a ‘dream budget’ catering to all sections of society, with a special focus on youth and women. Highlighting a substantial capital expenditure allocation of over Rs 11 lakh crore, Rijiju underscored the transformative potential of the budget.
Rijiju pointed out that significant announcements for Bihar, Jharkhand, West Bengal, Odisha, Andhra Pradesh, and the North-East are poised to invigorate the economy of Eastern India. He termed the measures for skilling and employment generation as historic, and praised the supportive schemes aimed at empowering women.
In particular, Rijiju noted that the budget addresses banking services in the northeast, a step crucial for the financial mainstreaming of the region. He emphasized that Prime Minister Narendra Modi’s vision of ‘Viksit Bharat’ by 2047 is prominently reflected in the budget’s provisions.
Responding to opposition criticism, Rijiju suggested that such reactions only highlight the budget’s robust quality. He affirmed that the budget is comprehensive and growth-oriented, encompassing all sectors while offering tax rebates for the middle class.
Addressing the flood situation in Bihar, Rijiju stressed that it is a national concern and defended the grants allocated to Andhra Pradesh against opposition objections.
In a significant move for financial inclusion in the northeastern states, the Union Ministry has proposed the establishment of 100 new branches of India Post Payments Bank (IPPB) across the region. This announcement, made by Finance Minister Nirmala Sitharaman during the Union Budget presentation for 2024-25, is part of a broader initiative to enhance banking access in underserved areas.
With IPPB already managing crores of accounts and operating through lakhs of branches nationwide, the expansion aims to bolster its presence in the Northeast, ensuring better financial infrastructure and equitable development across the region. The new branches will offer a wide range of banking services, integrating remote and economically diverse areas into the formal financial system.