Of-Monies-and-Matters-An-Analysis-of-Interim-Union-Budget-2024-25

While the share of the educaon budget in the interim budget has increased in absolute number, the overall educaon budget as a percentage of GDP has decreased to 0.37 compared to the first year of NEP implementaon. [...] In lieu of the increasing demand under the scheme, the government has proposed the target of construcon of two crore addional houses under the scheme in the next five years (which has been supplemented by an increase of around 70 per cent in the 2024-25 BE vis-à-vis the 2023-24 RE). [...] Among the various ministries/departments, the Ministry of Rural Development (MoRD) and the Department of Food and Public Distribuon (DFPD) contributed nearly 89 per cent of the total budget for the unorganised sector between 2019-20 to 2024-25. [...] Following the implementaon of GST and the establishment of the GST Council, the Union government commied to compensang States for revenue losses resulng from the transion to the new tax regime for the first five years. [...] The combined priority for this group of 16 ministries had risen sharply to 33.5 per cent of the total Union Budget in FY 2020-21, mainly due to the policy 28 AN ANALYSIS OF UNION BUDGET 2024-25 response of the government to the pandemic, which included higher spending on food subsidies, the rural employment guarantee, and health, among a few other sectors.