Interim Budget 2024: Finance Minister Nirmala Sitharaman is going to announce her sixth budget on 1 February 2024. However, since this is an election year, Sitharaman will announce the interim budget. The full budget will be presented after the formation of the new cabinet after the Lok Sabha elections. Sitharaman had earlier said that big announcements cannot be made in this budget. Even then, this budget may see changes in some government schemes from Ayushman Bharat to PM Kisan Yojana. Let us also tell you what those plans might be.
Ayushman Bharat Yojana
According to information, the Center is working on a proposal to increase the health cover under the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana from the current Rs 5 lakh to Rs 10 lakh. It is expected to be announced during the interim budget speech on February 1. After this announcement, an additional expenditure of Rs 12,076 crore per year is expected on the scheme.
Mahatma Gandhi National Rural Employment Guarantee Scheme
According to media reports, the central government’s allocation for the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) has increased from the current Rs. 60,000 crore to Rs. 88,000 crore is likely to do. The main reason for this is to meet the demand for employment under the scheme in the rural parts of the country. It may be noted that in the financial year 2023, the Center spent around Rs 90,000 crore on this scheme. In the financial year 2025, the Ministry of Rural Development in the Pre-Budget Consultation has asked the Center to allocate Rs. 1.1 trillion was asked to be allocated.
In the interim budget, the central government may also announce the continuation of the PM Kisan Yojana and possibly increase the installment from Rs 2 to 4 thousand. So far 15 installments have been given to the government. Two thousand rupees are given in each installment. With 3 installments per year a total of Rs. 6000 is issued. which can be doubled.
According to media reports, the Center is likely to launch the third phase of its Fast Adoption and Manufacturing Hybrid and Electric Vehicles (FAME) scheme in the next budget. The allocation for FAME-III is around Rs. 12,500 crore, which is more than the previous two phases.