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Economy
Mahesh

02/02/23 06:54 AM IST

HIGHLIGHTS OF THE UNION BUDGET 2023-24

In News
  • The Finance Minister Smt Nirmala Sitaraman presented the Union Budget 2023-24.
Major Highlights
  • Per capita income has more than doubled to ₹1.97 lakh in around nine years.
  • Indian economy has increased in size from being 10th to 5th largest in the world in the past nine years.
  • EPFO membership has more than doubled to 27 crore.
  • 7,400 crore digital payments of ₹126 lakh crore has taken place through UPI in 2022.
  • 11.7 crore household toilets constructed under Swachh Bharat Mission.
  • 9.6 crore LPG connections provided under Ujjwala.
  • 220 crore covid vaccination of 102 crore persons.
  • 47.8 crore PM Jan Dhan bank accounts.
  • Insurance cover for 44.6 crore persons under PM Suraksha Bima and PM Jeevan Jyoti Yojana.
  • Cash transfer of ₹2.2 lakh crore to over 11.4 crore farmers under PM Kisan Samman Nidhi.
  • Seven priorities of the budget ‘Saptarishi’ are inclusive development, reaching the last mile, infrastructure and investment, unleashing the potential, green growth, youth power and financial sector.
  • Defence ministry had been allocated 5.94 lakhs rupees.
  • Outlay for PM Awas Yojana is being enhanced by 66% to over Rs. 79,000 crore.
  • Centre to facilitate one crore farmers to adopt natural farming over the next three years. For this, 10,000 Bio-Input Resource Centres to be set-up, creating a national-level distributed micro-fertilizer and pesticide manufacturing network.
  • Pradhan Mantri Kaushal Vikas Yojana 4.0, to be launched to skill lakhs of youth within the next three years covering new age courses for Industry 4.0 like coding, AI, robotics, mechatronics, IOT, 3D printing, drones, and soft skills.
  • 30 Skill India International Centres to be set up across different States to skill youth for international opportunities.
  • A new sub-scheme of PM Matsya Sampada Yojana with targeted investment of ₹6,000 crore to be launched to further enable activities of fishermen, fish vendors, and micro & small enterprises, improve value chain efficiencies, and expand the market.
  • Rs. 15,000 crore for implementation of Pradhan Mantri PVTG Development Mission over the next three years under the Development Action Plan for the Scheduled Tribes.
  • New Infrastructure Finance Secretariat established to enhance opportunities for private investment in infrastructure.
  • District Institutes of Education and Training to be developed as vibrant institutes of excellence for Teachers’ Training.
  •  A National Digital Library for Children and Adolescents to be set-up for facilitating availability of quality books across geographies, languages, genres and levels, and device agnostic accessibility.
  •  Rs. 5,300 crore to be given as central assistance to Upper Bhadra Project to provide sustainable micro irrigation and filling up of surface tanks for drinking water.
  •  ‘Bharat Shared Repository of Inscriptions’ to be set up in a digital epigraphy museum, with digitization of one lakh ancient inscriptions in the first stage.
Green Growth
  • PM –PRANAM to be launched- To be established under GOBAR Dhan scheme
  • Green Credit Programme to be launched
  • MISHTI: Mangrove Initiative for Shoreline Habitats and Tangible Incomes to be launched
Finance
  • National Financial Information Registry to be established
  • A central Data processing center is to be created
  • Credit Guarantee Scheme for MSME: Rs 2 lakh crores
  • Mahila Samman Bachat Patra to be launched: One-time small savings scheme
  • Increase the maximum deposit limit of senior citizens’ savings scheme to Rs 30 lakhs. Before it was Rs 15 lakhs
Funds to major schemes
  • Jal Jeevan Mission: 70,000
  • Pharmaceutical industry: 1,250
  • Eklavya Model Residential schools: 5,943
  • Pradhan Mantri Awas Yojana: 79,590
  • FAME: 5,172
  • North East Special Infrastructure Development Scheme: 2,491
Infrastructure
  • Capital investments are to be increased to Rs 10 lakh crores.
  • To incentivize infrastructure investment, the fifty-year interest free loan scheme to the state governments is to continue
  • Railways: Rs 2.5 lakh crores allocated
  • Urban infrastructure to be boosted in tier 2 and tier 3 cities through UIDF – Urban Infrastructure Development Fund
Source- PIB

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