Budget 2023: Climate Change Measures And Social Inclusion For All

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Budget 2023: Climate Change Measures And Social Inclusion For All
27 Jan 2023
6 min read

News Synopsis

The Union Budget 2023 will be presented on February 1st by the finance minister Nirmala Sitharaman. In 2024, this will also be the last full budget of the present government. The nation's youth anticipate that the Union Budget will be geared toward giving them the support they need to reach their potential and positively impact the growth of the country.

In order to better understand the reasons for the lack of interest in budget announcements among today's youth as well as their expectations from it, this series conducts interviews with students and young working professionals.

In an interview with MintGenie, Pranay Loya of a top consulting firm discusses his conviction that decisions made about the budget's allocation of funds for social welfare programmes, education funding, and job creation could all have a direct or indirect impact on the prospects and opportunities available to young people today. He publishes satirical articles on business and money and is a 2022 LinkedIn Top Voice. He is one of India's youngest FRM charter holders at the age of 25.

Do you think the younger generation is underinformed on the Union budget and the talks around it? What would be the possible reasons for that?

Prior to the budget announcement, there were 1 lakh economists; afterward, there were 1 crore economists. Social media is used by around 50 crore people in India and has a big part to play in raising awareness among the younger generation.

The low level of awareness in India may be due to a variety of factors, including a lack of emphasis on financial literacy education in schools a lack of political leaders' engagement in budget discussions with younger citizens, or general youth apathy toward politics.

A lack of engagement may also be caused by how complicated and challenging it is for non-experts to comprehend the budget process. This generation must, however, pay close attention to how the budget will affect them.

How are the youth and GenZ affected by the decisions made in the Union Budget? Why is it crucial that they participate and actively engage in it?

The choices made in the Union Budget might significantly affect the lives of GenZ. The prospects and opportunities open to individuals can all be influenced directly or indirectly by decisions made about social welfare programmes, school funding, and job creation.

Environment and climate change: Young people are becoming more and more concerned about the effects of climate change, and they may expect the government to take action to safeguard the environment and minimize those effects.

Young people may anticipate that the government will take action to guarantee that everyone has an equal chance to achieve, regardless of their upbringing or circumstances.

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