Highlights of Union Budget 2023-24?
Nirmala Sitharaman, Union Finance Minister on the 1st of February 2023 presented the budget. The Union Budget for the fiscal year 2023-24 is designed to build upon the groundwork set in the previous budget.
- The theme of the budget was ‘Vasudhaiva Kutumbakam’.
- The budget proposed to spend Rs 45,03,097 crore in the financial year.
- Among these expenditures, it’s projected that Rs 35,02,136 crore will be dedicated to day-to-day government operations.
- It aims to create a roadmap for India@100. The government’s vision, as outlined in the Budget for 2022-23 is to establish a strong foundation for leading India’s economy towards “Amrit Kaal.”
- Amrit Kaal refers to the 25 years leading up to 2047 because in 2047 India will celebrate its 100 years of Independence.
- The Vision for Amrit Kaal is ambitious, aspiring to develop a knowledge-based economy and technology-driven.
Union Budget 2023-24 : Highlights & Analysis
Union Budget 2023-24: The Union Budget is the annual budget of the Indian Union. It is presented every year in February by the Union Finance Minister. It focuses on development that is inclusive of all. It includes people from certain groups and a few regions under Sabka Sath, and Sabka Vikas. It includes Scheduled Castes, Scheduled Tribes, OBCs, farmers, women, EWS and PwDs.
The main goals include boosting farmers’ income and generating job opportunities in rural regions. Additionally, the government plans to allocate Rs. 2 lakh crore for providing free food grains to all priority households as part of the PM scheme. The budget also focuses on the Northeast Region (NER), UTs of J&K and Ladakh. The act also aims to incentivize the private sector. It will help to create jobs and push growth. To increase the capex and raise more revenues via disinvestment, the Government is focusing on ‘Minimum Government, Maximum Governance’.
Table of Content
- Union Budget 2023
- Highlights of Union Budget 2023-24?
- Union Budget 2023-24 Analysis
- Key Takeaways of the Union Budget
- Sources of Receipt for the Government
- Important Schemes and Budgetary Allocations