Budget 2024 allocated a substantial ₹1.52 lakh crore specifically for which sector?

The Correct answer is Agriculture.

Key Points

• The Budget 2024 allocated a significant ₹1.52 lakh crore to the Agriculture sector, highlighting the government's commitment to boosting rural livelihoods and ensuring food security.
• This allocation aims to support farmers, improve agricultural infrastructure, and enhance the adoption of modern farming techniques.
• The investment in agriculture is vital for India's economy as it employs a large portion of the population, contributing to the country's GDP and ensuring the availability of essential commodities.
• The allocation includes funding for crop insurance schemes like Pradhan Mantri Fasal Bima Yojana, promoting resilience against natural calamities.
• Additional emphasis has been placed on irrigation projects, rural storage facilities, and digital agriculture initiatives to modernize the sector.
• The government also seeks to boost agri-tech startups and promote the use of technology-driven solutions like drones and artificial intelligence in farming.
• This budget reinforces a focus on sustainable practices, ensuring the well-being of farmers through minimum support price (MSP) and other welfare programs.

 Additional Information

• Technology
  • The technology sector in India has shown significant growth, supported by innovation in areas like AI, software development, and IT services.
  • The government has been promoting initiatives such as Digital India to enhance digital infrastructure and technology adoption.
  • However, Budget 2024's major focus on funding was towards agriculture, though technology continues to play a crucial role in other sectors.
• Infrastructure
  • Infrastructure development remains a key focus for the Indian government, with investments in highways, railways, and urban development projects.
  • Although not the primary sector for ₹1.52 lakh crore in Budget 2024, significant allocations were made to boost connectivity and economic growth.
• Real Estate
  • The real estate sector benefits indirectly from infrastructure and housing initiatives but was not the key recipient of the ₹1.52 lakh crore allocation.
  • The government has been pushing affordable housing through schemes like PMAY (Pradhan Mantri Awas Yojana).