The Indian government has been taking proactive measures to boost economic growth in the fourth quarter of 2024-25. As outlined in the Union Budget 2024-25, the government aims to achieve sustained economic growth through various initiatives ¹.
Key Focus Areas
- Infrastructure Development: The government has allocated ₹11,11,111 crore for infrastructure development, which is expected to drive economic growth and create jobs ¹.
- Manufacturing and Services: The government has introduced several initiatives to promote manufacturing and services, including the Credit Guarantee Scheme for MSMEs and the Scheme for providing internship opportunities in top companies ¹.
- Agriculture: The government has announced several initiatives to boost agriculture, including the release of new high-yielding and climate-resilient varieties of crops and the promotion of natural farming ¹.
- Digitalization: The government has emphasized the importance of digitalization in driving economic growth and has announced several initiatives to promote digital infrastructure and digital literacy ².
Reforms and Initiatives
- Land-Related Reforms: The government has announced several land-related reforms, including the introduction of the Unique Land Parcel Identification Number (ULPIN) and the digitization of land records ².
- Labour-Related Reforms: The government has announced several labour-related reforms, including the integration of the e-Shram portal with other platforms and the revamping of the Shram Suvidha and Samadhan portals ².
- Financial Sector Reforms: The government has announced several financial sector reforms, including the introduction of a Variable Capital Company structure and the simplification of rules and regulations for Foreign Direct Investment (FDI) ².
Conclusion
The Indian government’s efforts to boost economic growth in the fourth quarter of 2024-25 are focused on several key areas, including infrastructure development, manufacturing and services, agriculture, and digitalization. The government’s reforms and initiatives are expected to drive economic growth, create jobs, and improve the overall quality of life for citizens.
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