Interim Budget 2024 allocations: Defence gets lion's share, agriculture among lowest; check complete list

The Ministry of Defence secured the highest allocation of Rs 6.2 lakh crore, while the Ministry of Agriculture and Farmers' Welfare received the lowest allocation among all sectors, amounting to Rs 1.27 lakh crore.

Sunita Iyer

First Published Feb 1, 2024, 6:31 PM IST | Last Updated Feb 1, 2024, 6:35 PM IST

Finance Minister Nirmala Sitharaman presented the Interim Budget 2024 on February 1. The Ministry of Defence secured the highest allocation of Rs 6.2 lakh crore, while the Ministry of Agriculture and Farmers' Welfare received the lowest allocation among all sectors, amounting to Rs 1.27 lakh crore.

After the Defence Ministry, the Ministry of Road Transport & Highways received the second-highest allocation, amounting to Rs 2.78 lakh crore, while the Railway Ministry was allocated Rs 2.55 lakh crore.

Also read: Explained: What PM Modi meant by 'Disha Nirdeshak Baatein' in Interim Budget

Sitharaman announced the government's ambitious initiative to establish a corpus of Rs 1 lakh crore aimed at boosting private investment in sunrise technologies. This move, according to the Finance Minister, marks the beginning of a "golden era for our tech-savvy youth."

The corpus will be formed via a fifty-year interest-free loan, offering significant financial support to promote innovation and research in emerging technology fields, as per the minister's announcement.

Sitharaman stressed that the provision of long-term financing or refinancing with extended tenors and low to no interest rates would incentivize the private sector to substantially enhance their endeavors in research and innovation across sunrise sectors.

Here's a look at allocations for specific ministries:

Defence Ministry: Rs 6.1 lakh crore
Ministry of Road Transport and Highways: Rs 2.78 lakh crore
Ministry of Railways: Rs 2.55 lakh crore
Ministry of Consumer Affairs, Food and Public Distribution: Rs 2.13 lakh crore
Ministry of Home Affairs: Rs 2.03 lakh crore
Ministry of Rural Development: Rs 1.77 lakh crore
Ministry of Chemicals and Fertilizers: Rs 1.68 lakh crore
Ministry of Communications: Rs 1.37 lakh crore
Ministry of Agriculture and Farmer's Welfare: Rs 1.27 lakh crore
Ministry of Health: Rs 90,658.63 crore; AYUSH Ministry: Rs 3,712.49 crore
Women and Child Development Ministry: Rs 26,000 crore
Ministry of External Affairs: Rs 22,154 crore
Ministry of Sports: Rs 3,442.32 crore
Ministry of Environment: Rs 3,265 crore
Ministry of Civil Aviation: Rs. 2,300 crore

Here's a look at some of the other allocations announced by the FM

National Highways Authority of India (NHAI): Rs 1.68 lakh crore
Regional Connectivity Scheme UDAN (Ude Desh Ka Aam Nagarik): Rs 502 crore
Air India Asset Holding Ltd (AIAHL): Rs 1,158.79 crore
The University Grants Commission (UGC): Rs 2500 crore
Indian Institute of Management (IIMs): Rs 212.21 crore
Indian Institutes of Technology (IITs): Rs 10324.50 core
Central Universities: Rs 15472 crore
School Education: Rs 73008.10 crore; Higher Education: Rs 47619.77 crore
President's Office: Rs 144.18 crore; President's Secretariat: Rs 90.87 crore; Other Expenditures: Rs 52.71 crore; Salary and allowances: Rs 60 lakh
Khelo India, Flagship Sports programme: Rs 900 crore
Sports Authority of India (SAI): Rs 822.60 crore
National Sports Federations (NSFs): Rs 340 crore
National Anti-Doping Agency (NADA): Rs 22.30 crore; National Dope Testing Laboratory (NDTL): Rs 22 crore
National Centre of Sports Science and Research: Rs 8 crore
National Sports Development Fund: Rs 18 crore
Enhancement of Sports Facility in Jammu and Kashmir: Rs 8 crore
Delhi Police: Rs 11,397.98 crore
Centrally sponsored health schemes: Rs 87,656.90 crore
National Health Mission: Rs 31,967 crore
Pradhan Mantri Jan Arogya Yojna (PM-JAY): Rs 7,500 crore
National Digital Health Mission: Rs 250 crore
National Tele Mental Health Programme: Rs 100 crore
Autonomous Health bodies: Rs 18,005.65 crore
AIIMS, New Delhi: Rs 4,523 crore; ICMR: Rs 2432.13 crore
Census surveys and statistics: Rs 1,277.80 crore
Cybersecurity: Rs 759 crore

This marked Nirmala Sitharaman's sixth budget presentation and the final one of Prime Minister Narendra Modi's second-term government. The budget underscored priorities such as fiscal consolidation, infrastructure development, agriculture, green growth, and railways. However, it fell short of expectations for salaried individuals as there were no adjustments in tax rates.

Also read: Decade of economic contrasts: UPA's fiscal mirage vs NDA's transparent 'Viksit Bharat' pitch

Given that 2024 is an election year, with Lok Sabha Elections anticipated in April-May, the finance minister introduced an Interim Budget or Vote on Account in February instead of a comprehensive annual budget. The unveiling of the new full Budget is anticipated in July after the formation of the new government

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