Come February 1, we will once again listen to a speech lasting two hours or, perhaps, a little less. Believe it or not, this is certainly one of the most-awaited speeches every year, affecting everyone in the country—be it the rich, the poor, the middle-class salaried employee, the small business owner, children, the elderly, women, and so on.

Expectations for the speech start building from the first day of the calendar year itself. So much so that the usual New Year greetings, at least among chartered accountants and finance professionals, have evolved from generic best wishes to hopes for a hassle-free year with a reduced burden of compliances and so on.

Yes, this speech is delivered by none other than the finance minister, presenting the Union Budget for the upcoming financial year along with several announcements, amendments in tax laws, and schemes. With just a few days left until D-day, it is important to highlight a few issues that have often been neglected or have received considerably less allocation over the last few years.

They say that a nation is built by its youth and children. Simply put, the higher the investment in children—both monetarily and qualitatively—the more progressive and developed a nation becomes. If we look at the figures, more than 35 per cent of our population comprises children. Yet, they receive one of the smallest shares in the total Union Budget. Of this small share, child protection gets hardly 2 per cent of the total children's budget! This is grossly inadequate, considering the vulnerabilities children face, especially those from marginalised and vulnerable communities.

The government is not unaware of these ground realities. In fact, the Ministry of Home Affairs issued an advisory last April highlighting the findings of the 52nd report on the National Policy on Child Labour—An Assessment of the Standing Committee on Labour, Textiles, and Skill Development.

The report revealed the ineffectiveness of existing laws in curbing child labour. It noted that FIRs in child labour cases are not being registered as they should be. The advisory called for collective action from all state governments, Union territories, and child protection machinery to "tackle child labour and leverage all possible means and measures for detection, rehabilitation, and prevention of child labour."

The advisory was certainly a step in the right direction. However, how effectively it has curbed the menace remains a question, especially in the wake of tight budgets and a lack of trained manpower to handle sensitive cases pertaining to child labour, abuse, trafficking, and so on.

It is well-known that child welfare and protection committees and units often comprise individuals who are hardly aware of the various social protection schemes and laws governing children. In such a scenario, how can we ensure that our children are in safe hands? Moreover, officials entrusted with handling sensitive cases of child abuse and sexual offences often fail to prioritise the child's safety and protection, which are frequently ignored in favour of other "urgent" matters.

Had such cases received adequate attention, it would not have taken five years for a girl in Kerala's Pathanamthitta district to report that she had been sexually abused and raped by 64 men multiple times since the age of 13. The police have arrested 49 of the 64 accused men, but the incident raises serious questions about the effectiveness of our child protection system. Do we have sufficient mechanisms to inspire confidence among children, their parents, or guardians to report such cases? Unfortunately, the answer is far from affirmative.

The allocation of a few thousand crores to Mission Vatsalya in 2023–24, aimed at achieving child protection and welfare aligned with sustainable development goals, is a mere pittance compared to the extent of funds required to ensure every child is protected and cared for. On paper, there was a 34 per cent increase from the last budget. However, the figure was the same as that of the Revised Estimates (RE) for the previous financial year.

Worse, the funds allocated for the programme, whether in its new or old form, were never fully released. The release rate has varied from 40 to 80 per cent over the past few years. Even the funds that were released were never fully utilised. At times, the utilisation rate has been as low as 40 per cent! How can we achieve the objectives listed under the mission when those entrusted with power and resources lack the vision to build a strong future for our children?

Another scheme, POSHAN 2.0 and Saksham Anganwadi tells a similar story. While its allocation has been higher compared to Mission Vatsalya, it was still only 81 per cent of the estimated requirement. Moreover, the budget was not exclusively for children; it also aimed to combat malnutrition among women.

Over the last few years, the budget for child protection has been subsumed under the Ministry of Women and Child Development. In other words, the concept of child budgeting hardly exists. Mission Vatsalya is the only scheme earmarked exclusively for child protection, yet it has not received its due attention.

In education, there has been an increase in the number of schemes, including PM Schools for Rising India (PM SHRI), Eklavya Model Residential School (EMRS) for tribal children, and Pradhan Mantri Young Achievers Scholarship Award Scheme for Vibrant India (PM YASASVI) for OBCs, EBCs, and de-notified tribes. However, this increase in schemes has not translated into increased financial commitments.

An analysis of spending reveals that only five departments and ministries focused on children's schemes have spent over 95 per cent of their budgets on average over the past five years. The largest share of the budgetary allocation has gone toward education under the Department of School Education and Literacy (DoSEL). Spending trends suggest that education-related expenditures account for around 75 per cent of total child welfare spending.

While investments in education are essential, this overwhelming focus comes at the expense of other critical sectors such as health, nutrition, and protection. For instance, child protection receives only 1–2 per cent of total child-focused allocations. Global evidence shows that neglecting these areas undermines education goals, as malnutrition and poor healthcare significantly impact learning outcomes.

Spending on early childhood education was abysmally low—barely 0.69 per cent of the total Union Budget in 2023–24. This amounts to just 0.10 per cent of GDP! Research shows that inadequate support during a child's formative years significantly, and often irreversibly, hinders brain development.

It is high time child budgeting receives the attention it deserves. So far, the focus has been on expenditure rather than investment planning. Unlike gender budgeting, consultations with children, communities, or civil society organisations for child budgeting are rare. Nor have clear accountability structures been established to integrate it into departmental plans. In other words, child budgeting has remained one of the most neglected areas.

The Union Budget 2025 can be a game-changer—provided children are viewed not merely as kids but as the stepping stones for nation-building and growth.

It is time for the nation to put its children at the centre of its economic policies—not just on paper but in practice. The budget is not merely a financial statement; it is a testament to our values and priorities. Let us ensure that protecting our children's present and future becomes the cornerstone of Budget 2025.