Welfare Schemes Or Freebies For The Budget Of 2024 (Image: from archives)
There is a lot of expectation and waiting on the financial scenario in India as the budget, the Union and the Railway, are on the way. Though the Finance Minister has said that there would not be any spectacular announcements, the expectation quotient is still on a high on whether the interim budget could be more of freebies or of schemes to welfare. Understandably, these are significant moves by the government as it would design the future path of the economy. Though the debate on what constitutes a freebie or a welfare scheme is ongoing and of importance, it should also be realized that, both are constituents of a plan and that both acts on its on plane for countries, especially for a country such as India with a huge population.
On the expectations for welfare schemes in the budget 2024, analysts are of the view that the government could work upon social security schemes for people employed as domestic workers, which could be a move towards welfare payments in a more universal manner. The benefits which could accrue from this could include minimum wage, medical insurance, maternity benefits and provident fund, the ET reported.
Analysts are also of the view that the government could bring in changes by raising the transferrable funds which comes under the scheme, PM Kisan by almost 50 percent. There are also expectations that the government would engage more with its flagship programmes such as the PM Awas Yojana which is a housing scheme. More spending or rural schemes are expected because of the conditions in the rural scene such as unreliable weather conditions and delay in rural recovery, opined Teresa John of Nirmal Bang Institutional Equities to the ET. With the debate on, it is expected that the budget would emphasise on schemes which focuses on fiscal far-sightedness.
India, being a welfare state, welfare schemes for the people are part of the measures undertaken for their upliftment. Welfare through subsidies, grants and other means are for health, education, housing and employment. These have been a part of government initiatives then and now. Though there are critics to the welfare approach, over the years, this has been undertaken, especially in India as India stands with the Indian approach of uplifting every citizen of the country. Even when the distinction between both are being debated, analysts and opposition members have pointed out that the continuing government also offers such schemes which can be bracketed as freebies.
