This year's Union Budget paves the way for a stronger workforce and a growing economy: PM
We have given People, Economy and Innovation same priority as infrastructure and industries in investment: PMThe vision of Investment in People stands on three pillars – Education, Skill and Healthcare!: PMToday we are seeing India's education system going through a huge transformation after several decades: PMTelemedicine facility is being expanded in all Primary Health Centres: PMThrough day-care cancer centres and digital healthcare infrastructure, we want to take quality healthcare to the last mile: PMMany decisions have been taken in this budget to promote domestic and international tourism: PM50 destinations across the country will be developed focusing on tourism: PMGiving infrastructure status to hotels in these destinations will increase the ease of tourism and will also boost local employment: PMIndia will establish National Large Language Model to develop AI capabilities: PMIn this direction, our private sector also needs to be one step ahead of the world: PMThe world is waiting for a reliable, safe and democratic country that can provide economic solutions in AI: PMThe government has taken several steps in this budget to promote startups,A corpus fund of Rs 1 lakh crore has been passed to promote research and innovation: PMThis will increase investment in emerging sectors with deep tech fund of funds: PMThe announcement to preserve India's rich manuscript heritage through Gyan Bharatam Mission is very important: PMMore than one crore manuscripts will be converted into digital form through this mission: PMNamaskar!
Welcome and greetings to all of you in this important budget webinar. Investing in People, Economy and Innovation – This is a theme that defines the roadmap of developed India. You can see its impact on a very large scale in this year's budget. Therefore, this budget has emerged as a blueprint for India's future. We have given as much priority to infrastructure and industries in investment as we have given to People, Economy and Innovation. You all know that capacity building and talent nurturing work as the foundation stone for the country's progress. Therefore, now in the next phase of development, we have to invest more in these areas. For this, all the stakeholders will have to come forward. Because, this is necessary for the economic success of the country. And at the same time, it is also the basis for the success of every organization.
Friends,
The vision of Investment in people is standing on three pillars - education, skill and healthcare! Today you are seeing how India's education system is going through a huge transformation after several decades. Big steps like the National Education Policy, expansion of IITs, integration of technology in the education system, use of the full potential of AI, digitization of textbooks, work of providing learning materials in 22 Indian languages, many such efforts are going on in mission mode. Due to these, today India's education system is matching the needs and parameters of the 21st century world.
Friends,
The government has provided skill training to more than 3 crore youth since 2014. We have announced plans to upgrade 1,000 ITI institutes and create 5 centres of excellence. Our aim is that the training of the youth should be such that they can meet the needs of our industry. In this, we are taking help from global experts and ensuring that our youth can compete at the world level. Our industry and academia have the biggest role in all these efforts. Industry and educational institutes should understand each other's needs and fulfill them. The youth should get a chance to keep up with the rapidly changing world, they should get exposure, they should get a platform for practical learning. For this, all stakeholders will have to come together. We have started the PM-internship scheme to provide new opportunities and practical skills to the youth. We have to ensure that the maximum number of industries participate in this scheme at every scale.
Friends,
We have announced 10 thousand additional medical seats in this budget. We are keeping the target of adding 75 thousand seats in the medical line in the next 5 years. Tele-medicine facilities are being expanded in all Primary Health Centres and in all these areas. Through day-care cancer centres and digital healthcare infrastructure, we want to take quality healthcare to the last mile. You can imagine how big a change this will bring in people's lives. This will also create many new employment opportunities for the youth. You have to work equally fast to bring these on the ground. Only then will we be able to make the benefits of the budget announcements reach more and more people.
Friends,
In the last 10 years we have also looked at investment in the economy with a futuristic approach. As you know, India's urban population is estimated to reach 90 crores by 2047. Such a large population requires planned urbanization. For this, we have taken the initiative to create an Urban Challenge Fund of Rs 1 lakh crore. This will focus on governance, infrastructure and financial sustainability, and will also increase private investment. Our cities will be known for sustainable urban mobility, digital integration and Climate Resilience Plan. Our private sector, especially real estate and industry, should focus on planned urbanization and take it forward. Everyone has to work together to take forward campaigns like Amrit 2.0 and Jal Jeevan Mission.
Friends,
Today, when we are talking about investment in the economy, we need to pay special attention to the possibilities of tourism. The tourism sector is expected to contribute up to 10% to our GDP. This sector has the potential to provide employment to crores of youth. Therefore, many decisions have been taken in this budget to promote domestic and international tourism. 50 destinations across the country will be developed with a focus on tourism. Giving infrastructure status to hotels in these destinations will increase the ease of tourism and will also boost local employment. The scope of the Mudra scheme for home-stays has also been expanded. Tourists from all over the world are being attracted through the campaigns ‘Heal in India’ and ‘Land of the Buddha’. Efforts are being made to make India a global level tourism and wellness hub.
Friends,
When we talk about tourism, apart from the hotel industry and transport sector, there are new opportunities for other sectors in tourism as well. Therefore, I would say that our health sector stakeholders should invest in promoting health tourism, grab this opportunity. We should also use the full potential of yoga and wellness tourism. We also have a lot of scope in education tourism. I would like that there should be detailed discussions in this direction and we should move forward in this direction with a strong roadmap.
Friends,
The country’s future is determined by the investment being made in innovation. Artificial Intelligence can give growth of several lakh crores of rupees to the Indian economy. Therefore, we have to move fast in this direction. In this budget, 500 crores have been allocated for AI-driven education and research. India will also establish the National Large Language Model to develop the capabilities of AI. In this direction, our private sector also needs to be one step ahead of the world. The world is waiting for a reliable, safe and democratic country that can provide economical solutions in AI. The more you will invest in this sector now, the more advantage you will get in the future.
Friends,
Now India is the third largest startup ecosystem in the world. The government has taken several steps in this budget to promote startups. A corpus fund of Rs 1 lakh crore has been passed to promote research and innovation. This will increase investment in emerging sectors along with the Deep Tech Fund of funds. A provision of 10 thousand research fellowships has been made in IIT and IISc. This will promote research and provide opportunities to talented youth. Innovation will gain momentum through the National Geo-spatial Mission and National Research Foundation. We will have to work together at every level to take India to new heights in the field of research and innovation.
Friends,
Gyan Bharatam Mission, and I hope you all come forward in this word, the announcement of preserving the rich manuscript heritage of India through Gyan Bharatam Mission is very important. More than one crore manuscripts will be converted into digital form through this mission. After which a national digital repository will be created so that scholars and researchers from all over the world can know about India's historical and traditional knowledge and wisdom. The government is setting up a National Gene Bank to preserve India's plant genetic resources. The aim of this initiative of ours is to ensure genetic resources and food security for the coming generations. We have to expand the scope of such efforts. Our different institutes and sectors should become partners in these efforts.
Friends,
In February itself, we all have the great observations of the IMF about the Indian economy. According to this report, between 2015 and 2025... between 2015 and 2025, in these 10 years, the Indian economy has registered a growth of sixty six percent, i.e., 66 percent. India has now become a 3.8 trillion-dollar economy. This growth is more than many big economies. That day is not far when India will become a 5 trillion-dollar economy. We have to move ahead in the right direction, by making the right investments, and expand our economy in this way. And implementation of budget announcements also plays a big role in this, all of you have an important role.
My best wishes to all of you. And I am confident that by announcing the budget for the last few years, we have broken the tradition of, you do your part and we do ours. We sit with you before making the budget, even after making the budget, even after announcing it, we sit with you to implement the things that come up. Perhaps this model of public participation is very rare. And I am happy that this brainstorming program is gaining momentum every year, people are joining with enthusiasm, and everyone feels that the things we talk about before the budget are more important than the things that are useful in implementation after the budget. I am sure that this collective brainstorming will play a huge role in fulfilling our dreams, the dreams of 140 crore countrymen. My best wishes to all of you.
Thank you.
