Finance Minister Nirmala Sitharaman announced in her budget speech today a scheme for socio-economic upliftment of urban workers.
The National Urban Livelihoods Mission (NULM) is a program that receives a portion of the budget allocated to the Ministry of Housing and Urban Affairs (MoHUA). The Budget for 2024-25 allocated 0.36% of the MoHUA’s budget to NULM.
The government aims to initiate “transformative reforms” across six domains, including taxation and financial sector, the Finance Minister said on Saturday. Presenting her eighth consecutive budget, Sitharaman said the government’s development track record of the past 10 years and structural reforms have drawn global attention.
A Viksit Bharat will have zero poverty, quality education, high-quality, affordable and comprehensive healthcare, she said, adding that the Budget’s focus is to take everyone together on inclusive growth path.
“… this Budget aims to initiate transformative reforms across six domains during the first five years. These will augment our growth potential and global competitiveness. The domains are taxation, power sector, urban development, mining, financial sector and regulatory reforms… agriculture as the first engine,” Sitharaman said.
Asserting that the Budget’s focus is to take everyone together on inclusive growth path, she said the proposed development measures span 10 broad areas, focusing on ‘garib’ youth, ‘anna daata’ and ‘nari’, spurring agricultural growth and productivity, building rural prosperity and resilience.