FM Nirmala Sitaraman allocates ₹2.66 lakh crore for rural infrastructure in budget 2024
The Centre has announced a slew of initiatives for rural areas, just a day after claiming that an increase in demand for MGNREGA workers does not always indicate rural distress. The ₹2.66 lakh crore allocation for rural development marks the launch of Phase IV of the flagship Pradhan Mantri Gram Sadak Yojana (PMGSY).
The current year allocation for PMGSY, a scheme launched during Vajpayee’s government and regarded as one of the most significant reforms in rural infrastructure development, is set at ₹16,100 crore. This is higher than the revised estimate of ₹14,800 crore for 2023-24.
It has been announced that Phase 4 of the PMGSY will bring all-weather connectivity to 25,000 rural habitations. Since the scheme’s inception in 2000, 1,80,319 projects have been completed covering 7,65,472 km, with 8,393 projects still in progress.
Also Read | Budget 2024: Shares of shrimp, seafood makers in high demand following budget allocation
Unique identification
The government has also proposed a unique identification number for land, known as ‘Bhu-Aadhaar’, in rural areas as part of a major land reform initiative. “The Centre would collaborate with states to implement these land reforms, both in rural and urban areas. The government will provide fiscal assistance to incentivise states to complete these reforms within the next three years,” the finance minister stated.
On rural land-related actions, she stated that these would include the implementation of Unique Land Parcel Identification Number (ULPIN) or Bhu-Aadhaar for all lands, digitisation of cadastral maps, and a survey of map subdivisions as per the current ownership, The establishment of the land registry, as well as its link to the farmers’ registry. “These actions will also facilitate credit flow and other agricultural services,” she made clear.
New housing
She also stated that the PM Awas Yojana will construct three crore additional houses in both rural and urban areas, as promised in the BJP’s election manifesto. It is assumed that the government will assist in the construction of 2 crore houses in rural areas over the next five years, as the minister stated that there is a plan to assist 1 crore urban families in building their homes over the next five years.
The allocation for Pradhan Mantri Awas Yojna (PMAY) – Rural has increased significantly to ₹54,500 crore from a revised estimate of ₹32,000 crore in financial year 2024. However, no additional information is available about it, unlike the PMAY-Urban, on which the Centre will spend ₹2.2 lakh crore over the next five years, according to the minister.
She also stated that the goal of the cooperation policy, which is expected to be announced soon, will be to accelerate the growth of our rural economy and create large-scale employment opportunities.
Add Comment