Union Budget 2023: 10 important announcement by Finance minister Nirmala Sitharaman
By Lokmat English Desk | Published: February 1, 2023 03:48 PM2023-02-01T15:48:36+5:302023-02-01T15:48:36+5:30
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Union Finance Minister Nirmala Sitharaman presented the Union Budget 2023-24 in Parliament today. The Modi government at the center announced a new tax slab, giving a big relief to the middle class. Now no tax has to be paid on annual income up to 7 lakhs.
Nirmala Sitharaman, who presented her fifth budget, said that despite Corona, the Indian economy is heading in the right direction. This is the first budget of Amrit Kal and the growth rate of our economy is estimated to be 7% for the current year.
India's presidency of the G20 at this time of global challenges gives us a unique opportunity to strengthen India's role in the global financial system. Since 2014, the government's efforts have ensured the quality of life and livelihood of all citizens. Per capita income doubled to 1.97 lakhs.
Sitharaman further said that the central government is spending Rs 2 lakh crore under Pradhan Mantri Garib Kalyan Anna Yojana. Under Antyodaya Yojana, the free grain supply to the poor has been extended for one year. Our economic agenda is to facilitate opportunities for citizens, growth and prosperity.
Finance Minister Nirmala Sitharaman also said that the agricultural credit target will be increased to Rs 20 lakh crore with a focus on animal husbandry, dairy and fisheries. Animal husbandry, dairy industry, fisheries will be given attention in this.
The budget announced the launch of 'PM Vishwakarma Kaushal Samman' scheme for traditional handicraft artisans. Along with financial assistance, technical assistance will also be provided. Since 2014, 157 new nursing colleges have been established in collaboration with existing 157 medical colleges.
The 7 priorities of Budget 2023 are Inclusive Growth, Reaching the End Stage, Infrastructure and Investment, Unlocking Capacity, Green Growth, Youth Power and Economic Sector. The government has increased the scope of exemption in the new tax system and now ₹ 7.
Capital investment outlay is being increased by 33% to Rs 10 lakh crore, which will be 3.3% of GDP. Along with this, the millet will be named 'Sri Anna'. He also said that the Hyderabad-based Center of Excellence will work to make India a global hub.
7,000 crore has been earmarked in the budget to start the third phase of e-court establishment. States and cities will be motivated to do urban planning. A green loan program will be launched to promote green development.
Union Finance Minister Nirmala Sitharaman said during her budget speech that the Indian economy is on the right track and moving towards a bright future.
