The word with ten letters appeared in Finance Minister Nirmala Sitharaman’s speech at least thirty-three times. In an attempt to win over angry young voters, the administration has been under pressure to prioritise jobs and skilling. This is because one of the main issues that contributed to the BJP’s lacklustre showing in the previous Lok Sabha elections was employment, or more specifically, unemployment.
The budget includes a provision for a recruitment-related program to encourage the development of jobs in the manufacturing sector. This is important for the largest economy in the world that is expanding the fastest; it cannot afford to allow a severe job crisis to stop it in its tracks.
Source: Inshorts
With a total budget of Rs 2 lakh crore, the budget includes a package of five projects designed to facilitate employment and skill development. Although the emphasis on employability is a positive move, much will depend on industry collaboration and government backing. For both to have an impact on the ground, they will need to collaborate.
Additionally, the ruling party has increased the standard deduction for paid workers and the deduction on family pension for retirees in an effort to appeal to the middle class, which is its primary voter base. This class has been struggling with growing costs; having more money in their pockets as a result of this relief can encourage consumption, which is greatly needed.
Source: Hindustan Times
With significant announcements made for Bihar and Andhra Pradesh to support development through specific financial packages, the Budget clearly reflects the demands of the alliance. Parties that are essential partners of the BJP at the federal level control both states. But the overemphasis on the pair, which has earned them criticism from the opposition, has revealed the fallacies of the government’s catchphrase, Sabka Saath, Sabka Vikas.
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