Merely 3.97 lakh pregnant women in Bihar, against 15.01 lakh institutional deliveries, availed of benefits under the Pradhan Mantri Matru Vandana Yojana, or central government’s maternity benefit scheme, in 2021–22, as per data compiled by the state’s women and child development department. At least half of the women who applied for the scheme were rejected, and only around 35-50 percent of applications qualified for it. The PMMVY, which was inaugurated in 2017, provides financial assistance for wage loss during expectant mothers’ non-working days and is seen as especially crucial for not only ..read more

In the interim Budget, the union finance minister Nirmala Sitharaman emphasised the multiplier effect of capital expenditure on economic growth and job creation. The budget for 2024-25 allocates spending at 14.5 percent of GDP, with a significant focus on capital expenditure, which constitutes 23.32 per cent of the total budget, equivalent to 3.39 percent of GDP. This marks a substantial 16.9 per cent increase compared to the revised estimate of the previous fiscal year, reflecting a continued emphasis on capital investments to drive economic growth. However, a closer analysis reveals that the ..read more

The Government of India presented the Interim Budget 2024-25 in Parliament on 1 February, 2024. The Interim Union Budget laid a strong foundation by focusing on four major castes of the country and ‘Annadata’ (Farmer) is amongst one of them. Highlighting that the ‘A_nnadata_’s’ welfare is the highest priority of the Centre, The finance minister iterated that farmers’ empowerment and well-being will drive the country forward. Towards this endeavour, the total allocation towards Agriculture and Allied Sectors has been kept Rs 1.3 lakh crore in 2024-25, an increase by approximately Rs 3,000 crore ..read more

India is confronting several emerging challenges, like the impacts of climate change, increasing inequities and lagging human development indices. The post-2015 United Nations Sustainable Development Agenda framework offered an opportunity to renew and integrate efforts to significantly meet national and global aspirations within a defined time frame. However, achieving it is largely subject to adequate and effective prioritisation in national planning, budgeting and accountability frameworks. Ensuring the timely availability of optimum financial resources is one of the initial steps for achie ..read more

Climate change remains one of the key global concerns of the current century, and the issue is more precarious for India. As a developing economy in the Global South with a significant population with socio-economic vulnerabilities, India confronts heightened exposure to climate change impacts, compounded by the challenge of being the third-highest global greenhouse gas emitter. Union Finance Minister Nirmala Sitharaman’s budget speech for the Union Budget (Interim) 2024-25 recognised the persisting issue by mentioning, “India assumed G20 Presidency during very difficult times for the world. T ..read more

There was significant anticipation surrounding the interim Union budget this year with the elections round the corner. The anticipation primarily revolved around bolstering measures for addressing popular concerns and grassroots level issues. This included providing a boost to people’s needs such as essential food and nutrition services, particularly for children and pregnant women, as the lingering effects of the pandemic continue to persist. However, the interim Union budget placed a much higher emphasis on achieving developed country status, which contrasts with the pressing issues of hunge ..read more

Climate change is the most significant global challenge of the 21st century. India is the third largest emitter of greenhouse gases, as well as one of the worst affected countries from the impact of extreme weather events. The effect of climate change on India’s socio-economically vulnerable populations underscore the necessity for the country’s climate action policy and budgetary focus, especially for adaptation measures. An egalitarian approach is essential for mitigating climate stress across various sectors such as health, water, and agriculture. The rural economy needs to be supported by ..read more

The Union government’s gross tax revenue has shown consistent growth over the years, with direct taxes outperforming indirect taxes in recent years. But a holistic view, combining both Union and state tax collections, presents a different story. As per the total aggregate tax revenue, direct taxes account for less than 40 percent of India’s overall sum. In the FY2023 budget estimates, in fact, direct tax collection was estimated at 16.42 lakh crore, while indirect tax was estimated at 29.08 lakh crore, as per the RBI data, pointing to India’s reliance on indirect taxes. Direct taxes, known for ..read more

The rural economy demonstrated remarkable resilience in absorbing the shock of reverse migration caused by the COVID-19 pandemic. However, it continues to face significant challenges due to high levels of poverty and socio-economic inequalities which were exacerbated by the pandemic. In 2020-21, the department of rural development received its highest budgetary allocation in six years as the government tried to mitigate the immediate impact of the pandemic. Yet, in the years that followed, funding has largely plateaued, indicating limited resources for developmental activities in rural areas ..read more

In the interim budget 2024-25, a study of the existing social security schemes for the unorganised sector shows that while there are many, the actual allocations on them reveal a different story. There is a lack of clarity and transparency in budgets meant for the unorganised sector workers. This makes it difficult to truly assess the impact and effectiveness of the existing social security measures in addressing the needs of the unorganised sector. In her budget speech, finance minister Nirmala Sitharaman announced the achievements of the PM-SVANidhi scheme which provided credit assistance to ..read more