Politics

Tech-driven, Knowledge-based & inclusive economy is 'Amrit Kaal' vision

“Our vision for Amrit Kaal includes a technology-driven and knowledge-based economy with strong public finances and a robust financial sector,” said Union Finance Minister Nirmala Sitharaman while presenting the Union Budget 2023-24 on February 1 in the Lok Sabha. The Minister added that to achieve this, Janbhagidari, “Sabka Sath Sabka Vikas” is essential.

Focusing on wide-ranging reforms and some policies implemented through Sabka Prayas (collective effort), the government has called for inclusive and sustainable development. “We envision a prosperous and inclusive India where development is delivered in all regions and to all citizens, especially youth, women, farmers, other backward classes, scheduled castes, and scheduled tribes,” said the Finance Minister.

Major Announcements for Youth & Women

Union Finance Minister Nirmala Sitharaman made these following announcements for an inclusive development that mainly focuses on women and youth:

PM Kaushal Vikas Yojna 4.0 will be launched to skill lakhs of youth within the next three years

To empower youth and help the Amrit Peedhi realize their dreams, the governement has formulated a National Education Policy – and one focus of this policy is skilling youths by adopting economic policies that facilitate job creation

Under health education and skilling, 157 New Nursing Colleges will be established

Unified Skill India Digital platform will enable demand-based formal skilling, linking with employers (including MSMEs), and facilitating access to entrepreneurial schemes

The one-time small savings scheme, ‘Mahila Samman Saving Certificate’ will be available for 2 years, up till March 2025. This will offer a deposit facility of up to Rs 2 lakh for women or girls for a tenure of 2 years at a fixed interest rate of 7.5% with a partial withdrawal option

Vision for India@100

The Finance Minister called the Budget 2023-24 “the first budget of Amrit Kaal and the blueprint for India at 100.” Furthermore, she outlined the Economic agenda for achieving the vision of ‘Janbhagidaari’ that focuses on three things-

1) Facilitating opportunities for citizens, especially the Youth

2) Providing strong impetus to growth and job creation

3) Strengthening macro-economic stability

The Minister also said that to service these focus areas in the journey of India at 100, the following four opportunities can be transformative during Amrit Kaal. For the economic empowerment of women, the Minister informed that Deen Dayal Antyodaya Yojana National Rural Livelihood Mission has achieved remarkable success by mobilizing rural women into 81 lakh Self-Help Groups (SHGs). She also said, “PM Kaushal Vikas Yojna 4.0 will be launched to skill lakhs of youth within the next three years.”

Union Minister Sitharaman also talked about the tourism sector. “There is a large potential to be tapped in tourism, the sector holds huge opportunities for jobs and entrepreneurship for youth in particular,” she said.

Saptarshis’ for Amrit Kaal

Notably, the Union Budget 2023 adopts seven priorities, which act as “Saptarshis,” aiming to guide for greater progress in ’Amrit Kaal’ i.e., the next 25 years leading up to the centenary of India’s independence. Notably, the seven points are synonymous with the government’s current policies. It also matches the G20 agenda of India under its Presidency.

Following are the ’Saptarshis’ for Amrit Kaal-

1) Inclusive development

2) Reaching last mile

3) Infrastructure and investment

4) Unleashing potential

5) Green growth

6) Youth Power

7) Financial Sector

 

If you like this story then please support us by a contributing a small amount you are comfortable with.