Budget 2024: India's Growth Shifts Beyond Metros to Tier-2, Tier-3 Cities

• The Budget redefines India's economic geography, focusing on districts, small towns, and Tier-2/Tier-3 cities as new growth engines.
• MSMEs are central to this strategy, with initiatives for scale, formalization, and integration into global value chains through funds, credit access, and digital enablement.
• Infrastructure development, including AI, data centers, and semiconductors, is crucial for distributed growth, supporting innovation hubs beyond major cities.
• Skilling initiatives are designed to build a productivity-led workforce aligned with regional demand, focusing on labor-intensive sectors like tourism and textiles.
• Tourism is identified as a significant force multiplier, driving MSME growth and job creation in smaller towns through improved connectivity and infrastructure.

Why It Matters: Budget 2024 strategically positions Bharat (non-metro India) as the new growth heartland, fostering inclusive economic expansion.