- The 2024 budget can be seen as a strategic document balancing immediate economic needs with the long-term development goals setting the stage for India’s economic trajectory in the post-COVID arena.
- Swami Vivekananda emphasizes self-reliance and national pride alliance with the idea of “Atma Nirbhar Bharat” – a self-reliant Indian initiative, which likely continues to influence budget allocation for domestic manufacturing, research and development, and indigenous technology.
- The 2024 Union Budget viewed through Vivekananda’s philosophical prism represents not just a financial document, but a roadmap for holistic national development that aspires to elevate not just India’s GDP but also the collective consciousness of its people.
At the onset of the declaration of the Union Budget for the financial year 2024-2025, the economy of India is mainly focused on employment, skill enhancement, MSME (Ministry of Micro, Small & Mini Enterprises), and the middle class. One might envision a balanced approach addressing India’s post-pandemic economic challenges while being prepared for future challenges.
This year, the budget is focused on fiscal consolidation while aiming to recover the deficit while still providing growth stimuli. Key areas of emphasis have included the increase in healthcare spending, digital infrastructure, and development. To boost the investor’s confidence alongside the economic growth, the budget possibly introduced tax reforms and incentives for foreign investments. It has also allocated funds for the Green initiative and renewable energy projects, keeping an ally with the global climate commitments. Social welfare schemes and job creation measures are probably prominent, addressing the needs of vulnerable populations and tackling unemployment.
Overall, the 2024 budget can be seen as a strategic document balancing immediate economic needs with the long-term development goals setting the stage for India’s economic trajectory in the post-COVID arena. The ideas that are reflected in the union budget of 2024–25 have their genesis in the works of the luminaries who had envisioned “Modern India.” This article attempts to rejuvenate the ideas proposed by Swami Vivekananda, who took the message of modern India to the West. Among the 19th-century philosophers who put up their ideas for the formation of modern India, Swami Vivekananda was a pioneer who spoke about the placement of the masses in his motherland.
Swami Vivekananda emphasizes self-reliance and national pride alliance with the idea of “Atma Nirbhar Bharat” – a self-reliant Indian initiative, which likely continues to influence budget allocation for domestic manufacturing, research and development, and indigenous technology. His focus on education and skill development would support increased budget provisions for these sectors, possibly through expanded funding for higher education institutes, educational training programs, and modern techniques of imparting education. Vivekananda was concerned that the upliftment of the masses might be reflected in continued or enhanced allocation of social welfare schemes, rural development programs, and measures to reduce economic disparities. His concern has been addressed through initiatives like Pradhan Mantri Janjatiya Unnat Gram Abhiyan and Rupees 2.66 lakh Crore schedule development, including rural infrastructure, programs, and projects. His belief in combining spiritual strength with modern scientific advancements to translate into budget support for both traditional knowledge systems and cutting-edge technologies is potentially seen in allocation for AYUSH (Ayurveda, Yoga and Neuropathy, Uni, Siddha, and Homeopathy) as well as for imaging feels like artificial intelligence and quantum computing. Vivekananda’s ideas and women empowerment might influence gender, responsive budgeting, and increased location for women-centric schemes in education, healthcare, and entrepreneurship.
The spirit of Vivekananda's economic thought of self-reliance, inclusive growth, education and ethical development continues to guide India's fiscal policies.
Swami Vivekananda glorified women’s empowerment and women’s dignity with the example of ancient womanhood like Gargi, Damayanti, and Maitri. His vision of India as a “Vishwa Guru” (world leader) could be manifested in budget provisions for enhancing India’s goal competitiveness through increased funding for export promotion, cultural diplomacy, and participation in international collaborations and his eagerness to improvise Western education with Vedic way of learning. The philosopher’s emphasis on practical spirituality and ethical living might support budget allocation for the environment, conservation, sustainable development initiatives, and programs, promoting ethical governance. He quoted the issues, which vividly highlight the conservation of nature.
Vivekananda’s advocacy for the poor and marginalized reflected income continued focus on inclusive growth strategies, enhanced allocation of minority welfare, and tribal development targeting economically weaker sections. His ideas on nationality might influence budget provisions aimed at promoting cultural integration and national languages. In the realm of agriculture with Swami Vivekananda, so crucial for India’s development, the budget might include measures for moralising farming techniques, improving rural infrastructure and enhancing farmer income. Vivekananda’s concept of service to humanity would be seen in the increased allocation of healthcare, particularly in the light of lessons learned from the COVID-19 pandemic. Here Vivekananda quoted “Service to Man is Service to God” ~ (Jiva Seva is Shiva Seva). His emphasis on development might translate into enhanced funding for sports, cultural activities and youth entrepreneurship programmes. Lastly, Vivekananda’s vision of a strong self-reliant India might influence allocation and investments in strategic sectors to enhance national security and global standing.
In conclusion, the enduring wisdom of Swami Vivekananda continues to offer valuable insights into India’s economic policy, even in the context of the 2024 union budget. While Vivekananda lived in a different era, his vision of a strong self-reliant India that balances material progress with spiritual and cultural values remains remarkably relevant, the 2024 budget view through the lens of Vivekananda and his philosophy presents a step towards realizing this vision the emphasis of self-reliance as seen in the continuous focus on “Aathmanirbhar Bharat” echoes Vivekananda’s call for national self-sufficiency. The increased allocations for affordable education and skill development align with his ideas of the transformative power of knowledge and the importance of awakening the potential within every individual.
In essence, the spirit of Vivekananda’s economic thought of self-reliance, inclusive growth, education and ethical development continues to guide India’s fiscal policies as we move forward. It is crucial to keep sight of these foundational principles, ensuring that India’s economic growth is not just robust, but also equitable and spiritually grounded. Ultimately, the 2024 Union Budget viewed through Vivekananda’s philosophical prism represents not just a financial document, but a roadmap for holistic national development that aspires to elevate not just India’s GDP but also the collective consciousness of its people.
(Amit Saha is an ICCR PhD Scholar in the Department of Politics and International Studies at Pondicherry University. Nayandeep Sardar, Student of Masters in Politics and International Relations, Pondicherry University. Views expressed are the author’s own)
Aayush Pal 
Piyush Anand 
Aayush Pal & Piyush Anand