Budget Speech 2023 - Description
Dear readers, here we are offering Budget Speech 2023 PDF to all of you. Finance Minister Nirmala Sitharaman presented the budget for the fifth time in Parliament on February 1. During this, Nirmala Sitharaman made many big announcements for different areas.
Made big announcements for education, agriculture, railways, tourism, new income tax slab, and women. Read Nirmala Sitharaman’s full budget speech here. The Finance Minister said that this time there are seven main goals of the budget,
which have been called Saptarshi. First inclusive development, second priority to the underprivileged, third infrastructure and investment, fourth capacity expansion, fifth green development, sixth youth power, and seventh financial sector.
Budget Speech 2023 PDF
Hon’ble Speaker,
I present the Budget for 2023-24. This is the first Budget in Amrit Kaal.
Introduction
- This Budget hopes to build on the foundation laid in the previous Budget, and the blueprint drawn for India@100. We envision a prosperous and inclusive India, in which the fruits of development reach all regions and citizens, especially our youth, women, farmers, OBCs, Scheduled Castes, and Scheduled Tribes.
- In the 75th year of our Independence, the world recognized the Indian economy as a ‘bright star’. Our current year’s economic growth is estimated to be at 7 percent. It is notable that this is the highest among all the major economies. This is in spite of the massive slowdown globally caused by Covid-19 and the war. The Indian economy is therefore on the right track, and despite a time of challenges, heading towards a bright future.
- Today, as Indians stands with their head, held high, and the world appreciates India’s achievements and successes, we are sure that elders who fought for India’s independence, will with joy, bless us in our endeavors going forward.
Resilience Amidst Multiple Crises
- Our focus on wide-ranging reforms and sound policies, implemented through Sabka Prayas resulting in Jan Bhagidari and targeted support to those in need, helped us perform well in trying times. India’s rising global profile is because of several accomplishments: unique world-class digital public infrastructure, e.g., Aadhaar, Co-Win and UPI; Covid vaccination drive in unparalleled scale and speed; proactive role in frontier areas such as achieving the climate-related goals, mission LiFE, and National Hydrogen Mission.
- During the Covid-19 pandemic, we ensured that no one goes to bed hungry, with a scheme to supply free food grains to over 80 crore persons for 28 months. Continuing our commitment to ensure food and nutritional security, we are implementing, from 1st January 2023, a scheme to supply free food grain to all Antyodaya and priority households for the next one year, under PM Garib Kalyan Anna Yojana (PMGKAY). The entire expenditure of about ` 2 lakh crore will be borne by the Central Government.
G20 Presidency: Steering the global agenda through challenges
- In these times of global challenges, the G20 Presidency gives us a unique opportunity to strengthen India’s role in the world economic order. With the theme of ‘Vasudhaiva Kutumbakam’, we are steering an ambitious, people-centric agenda to address global challenges and to facilitate sustainable economic development.
Achievements since 2014: Leaving no one behind
- The government’s efforts since 2014 have ensured for all citizens a better quality of living and a life of dignity. The per capita income has more than doubled to ` 1.97 lahks.
- In these nine years, the Indian economy has increased in size from being 10th to 5th largest in the world. We have significantly improved our position as a well-governed and innovative country with a conducive environment for business as reflected in several global indices. We have made significant progress in many Sustainable Development Goals.
- The economy has become a lot more formalized as reflected in the EPFO membership more than doubling to 27 crore, and 7,400 crore digital payments of ` 126 lakh crore through UPI in 2022.
- The efficient implementation of many schemes, with the universalization of targeted benefits, has resulted in inclusive development.
Some of the schemes are:
- 11.7 crore household toilets under Swachh Bharat Mission,
- 9.6 crore LPG connections under Ujjawala,
- 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, and
- Cash transfer of ` 2.2 lakh crore to over 11.4 crore farmers under PM Kisan Samman Nidhi.
Vision for Amrit Kaal – an empowered and inclusive economy
- Our vision for the Amrit Kaal includes a technology-driven and knowledge-based economy with strong public finances, and a robust financial sector. To achieve this, Jan Bhagidari through Sabka Saath Sabka Prayas is essential.
- The economic agenda for achieving this vision focuses on three things: first, facilitating ample opportunities for citizens, especially the youth, to fulfill their aspirations; second, providing a strong impetus to growth and job creation; and third, strengthening macroeconomic stability.
- To service these focus areas in our journey to India@100, we believe that the following four opportunities can be transformative during Amrit Kaal.
1) Economic Empowerment of Women:
Deendayal Antyodaya Yojana National Rural Livelihood Mission has achieved remarkable success by mobilizing rural women into 81 lakh Self Help Groups. We will enable these groups to reach the next stage of economic empowerment through formation of large producer enterprises or collectives with each having several thousand members and managed professionally. They will be helped with supply of raw materials and for better design, quality, branding and marketing of their products. Through supporting policies, they will be enabled to scale up their operations to serve the large consumer markets, as has been the case with several start-ups growing into ‘Unicorns’.
2) PM VIshwakarma KAushal Samman (PM VIKAS):
For centuries, traditional artisans and craftspeople, who work with their hands using tools, have brought renown to India. They are generally referred to as Vishwakarma. The art and handicraft created by them represent the true spirit of Atmanirbhar Bharat. For the first time, a package of assistance for them has been conceptualized. The new scheme will enable them to improve the quality, scale, and reach of their products, integrating them with the MSME value chain. The components of the scheme will include not only financial support but also access to advanced skill training, knowledge of modern digital techniques and efficient green technologies, brand promotion, linkage with local and global markets, digital payments, and social security. This will greatly benefit the Scheduled Castes, Scheduled Tribes, OBCs, women, and people belonging to the weaker sections.
3) Tourism:
The country offers immense attractions for domestic as well as foreign tourists. There is a large potential to be tapped into tourism. The sector holds huge opportunities for jobs and entrepreneurship for youth in particular. The promotion of tourism will be taken up on mission mode, with the active participation of states, the convergence of government programs, and public-private partnerships.
4) Green Growth:
We are implementing many programs for green fuel, green energy, green farming, green mobility, green buildings, and green equipment, and policies for efficient use of energy across various economic sectors. These green growth efforts help in reducing the carbon intensity of the economy and provide for largescale green job opportunities.
Priorities of this Budget
- The Budget adopts the following seven priorities. They complement each other and act as the ‘Saptarishi’ guiding us through the Amrit Kaal.
|
Sr.No. |
Priorities |
| 1) | Inclusive Development |
| 2) | Reaching the Last Mile |
| 3) | Infrastructure and Investment |
| 4) | Unleashing the Potential |
| 5) | Green Growth |
| 6) | Youth Power |
| 7) | Financial Sector |
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