Key Takeaways of the Union Budget
- Creating Opportunities: The focus is on providing opportunities to citizens, especially the youth
- Growth and Employment Generation: The government aims to give a strong boost to economic growth and generate employment opportunities. This involves implementing strategies to enhance productivity and create jobs across various sectors
- Macroeconomic Stability: This includes measures to ensure a stable economic environment that promotes sustainable growth
The Union Finance Minister has outlined seven priorities also known as “Saptarishi” which guides the government through the Amrit Kaal. These priorities include
- Inclusive Development: Ensuring that the benefits of development reach all sections of society, promoting inclusivity
- Reaching the Last Mile: Implementing policies and programs that address the needs of the most remote and marginalised communities. To ensure that development reaches every corner of the country
- Infrastructure and Investment: Focusing on the development of strong infrastructure and encouraging investments to push economic growth
- Unleashing the Potential: Exploring and utilising the untapped potential in various sectors to enhance overall economic performance
- Green Growth: Emphasising environmentally sustainable practices and promoting green initiatives for a more eco-friendly and sustainable future
- Youth Power: Recognizing the potential of the youth as a driving force for the nation’s progress and implementing measures to empower and engage the younger population
- Financial Sector: Strengthening the financial sector to ensure stability and support economic activities
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