UNION BUDGET 2024 Explained | Mind Maps | Budget Explained In Under 15 Minutes

Summary

In this session, we will discuss the Union Budget in 15-16 minutes, utilizing mind maps for a concise review. Key highlights include GDP growth at 10.5%, fiscal deficit at 5.1%, and capital expenditure of ₹11.11 lakh crore. Major topics covered are housing initiatives, health sector improvements, agricultural advancements, women empowerment schemes, youth-focused projects, infrastructure development, environmental and green energy plans, tourism enhancement, and tax reforms. This video serves as a quick revision tool for understanding the budget efficiently. Additionally, there's a mention of the B’s Babu 2.0 course for banking exam preparations.

Takeaways

• 📊 Union Budget Overview: The session will cover the Union Budget highlights and help you revise it in 15 minutes using mind maps.
• 📈 GDP and Fiscal Deficit: GDP is at 10.5%, fiscal deficit is 5.1%, and capital expenditure is 11.11 lakh crore, with an 11.1% increase from last year.
• 🏡 Housing: A new scheme for the middle class to buy and repair houses, 2 crore houses to be built under the rural housing scheme, and 1 crore rooftop solar installations under the PM Suryodaya scheme.
• 🏥 Health: Free cervical cancer vaccinations for girls aged 9-14, upgrade of Anganwadi centers, expansion of medical colleges, and inclusion of ASHA workers under PM Ayushman Bharat scheme.
• 🚜 Agriculture: Introduction of Nano DAP fertilizer, focus on oilseeds like mustard and sunflower, setup of five integrated aqua parks, and plans to double export productivity to 1 lakh crore.
• 👩‍🦰 Women's Welfare: Aiming to create 3 crore 'Lakhpati' women, increased enrollment in education, and enhanced vocational training for women.
• 👨‍🎓 Youth and Technology: Establishment of a ₹1 lakh crore corpus for interest-free loans, promotion of tech-centric schemes, and increased FDI inflow to $96 billion.
• 🛤️ Infrastructure: Capital expenditure at 11.11 lakh crore, development of economic corridors in railways, energy, mineral, cement sectors, and PM Gati Shakti initiative for economic corridors.
• ♻️ Environment and Green Energy: Viability gap funding for wind energy, bio-manufacturing schemes, and introduction of e-buses in public transport.
• 🏖️ Tourism and Population: Development of iconic tourist centers, promotion of domestic tourism, and formation of a high-powered committee to address population growth.

Q & A

What is the main purpose of the session described in the transcript?

The main purpose of the session is to discuss the Union Budget in a concise manner within 15 to 16 minutes, allowing participants to review it when they have limited time.

What is the GDP growth rate mentioned in the budget discussion?

The GDP growth rate mentioned in the budget discussion is 10.5%.

What is the fiscal deficit mentioned in the budget?

The fiscal deficit mentioned in the budget is 5.1%.

What is the capital expenditure for the current budget?

The capital expenditure for the current budget is 11.11% of the total budget.

What is the new housing plan discussed for the middle class?

A new housing plan is discussed to be created for the middle class, allowing them to buy and repair construct housing.

What is the update on the health sector regarding vaccination for girls?

The update on the health sector includes vaccination for girls in the age group 9 to 14, which will be provided for free.

What is the initiative regarding the 'PM Surya Udoy' scheme in the budget?

The 'PM Surya Udoy' scheme aims to install solar rooftops in 1 million households and provide 300 units of electricity for free to those who can generate it.

What is the focus on agriculture in the budget?

The focus on agriculture includes the use of nano diammonium phosphate as a fertilizer that can be applied in all agro-climatic zones.

What is the plan for the aviation sector mentioned in the budget?

The plan for the aviation sector includes creating a 'Lakhpati' scheme, aiming to make 3 crore people beneficiaries, and planning for the creation of 3 crore new airlines.

What is the employment target set for the future in the budget?

The employment target set for the future in the budget is 55 lakh jobs.

What is the initiative for the environment and green energy in the budget?

The initiative for the environment and green energy includes a viability gap funding scheme to fill gaps in funding in the cement and wind energy sectors, and a plan to generate 1 gigawatt of energy.