Synopsis
The recent Budget has brought forth several positive initiatives for Delhi voters, including support for street vendors, gig workers, and middle-class families facing housing project challenges. Key funding has been allocated for infrastructure improvements, aiding residents in unauthorized colonies and slums.Key Takeaways
- Tax relief for the middle class in Delhi.
- Support for street vendors through PM SVANidhi scheme.
- New fund to expedite completion of housing projects.
- Healthcare benefits for gig workers under PM Jan Arogya Yojana.
- Urban Challenge Fund to enhance city infrastructure.
New Delhi, Feb 1 (NationPress) The Narendra Modi administration on Saturday adhered to the Election Commission of India's instruction not to unveil any Delhi-specific initiatives or incentives in the Union Budget 2025-26. Nonetheless, it managed to provide voters in the election-focused city with several reasons to celebrate.
In addition to the tax relief for the middle class, which will benefit residents of Delhi just like all Indian citizens, numerous Central schemes may indirectly aid city voters such as slum inhabitants and dwellers in unauthorized colonies that require infrastructure improvements.
During her eighth consecutive Budget address on Saturday, Union Minister for Finance and Corporate Affairs Nirmala Sitharaman unveiled various initiatives for street vendors, gig workers, middle-class individuals burdened with EMIs for distressed housing projects, and the urban poor whose neighborhoods necessitate better infrastructure and governance.
The PM SVANidhi scheme, which has aided over 68 lakh street vendors by relieving them from high-interest informal loans, will continue to support Delhi vendors, most of whom hail from Purvanchal and reside in slums or unauthorized colonies in the city.
As per FM Sitharaman, a revised version of the scheme - PM Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) - will provide improved loans from banks, UPI-linked credit cards, and capacity-building assistance.
For middle-class residents of Delhi who are managing EMIs in troubled housing projects, the Budget introduced a new fund aimed at hastening the completion of distressed projects.
The FM stated in her address, "Under the Special Window for Affordable and Mid-Income Housing (SWAMIH), 50,000 dwelling units in stressed housing projects have been finalized, with keys handed over to home-buyers. An additional 40,000 units are slated for completion in 2025, further assisting middle-class families who are paying EMIs on loans acquired for apartments while also covering rent for their current homes."
"Building on this achievement, SWAMIH Fund 2 will be launched as a blended finance facility with contributions from the Government, banks, and private investors. This Rs 15,000 crore fund aims for the swift completion of another 1 lakh units," she announced, a declaration that may provide relief to Delhiites eager to move into flats in the NCR area.
As PM Modi pledged during his election campaigns in Delhi, gig workers are set to receive numerous benefits shortly.
According to FM Sitharaman's address directed at such workers nationwide, "The government will facilitate their identity cards and registration on the e-Shram portal. They will be offered healthcare under PM Jan Arogya Yojana. This initiative is expected to assist nearly 1 crore gig workers."
With elections approaching, Delhi's slum dwellers and residents of unauthorized colonies may also benefit from the Budget provision for enhancing urban infrastructure.
The FM stated, "The Government will establish an Urban Challenge Fund of Rs 1 lakh crore to implement proposals for 'Cities as Growth Hubs', 'Creative Redevelopment of Cities', and 'Water and Sanitation' announced in the July Budget."
This fund is likely to finance projects such as the development of the Yamuna riverfront, enhanced tap water supply, sewer installations, and pucca houses for slum dwellers in Delhi.
