Summary – Union Budget 2023-24 : Highlights & Analysis
The Union Budget for the fiscal year 2023-24, presented by Finance Minister Nirmala Sitharaman, focuses on inclusive development, emphasizing key pillars like reaching every corner of the country, infrastructure investment, unleashing potential, green growth, youth empowerment, and strengthening the financial sector. The theme, ‘Vasudhaiva Kutumbakam,’ signifies a people-centric approach to tackle global challenges. With a total expenditure of Rs. 45,03,097 crore, the budget aims to boost agriculture, create jobs, enhance healthcare and education, and drive economic growth. It introduces schemes like the Atma Nirbhar Clean Plant Program and the GOBARdhan scheme, reflecting a commitment to environmental sustainability. The emphasis on skill development, especially in emerging technologies, and the allocation of funds for tribal development showcase a comprehensive and inclusive vision for India’s progress.
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