Finance Minister Nirmala Sitharaman is presenting the Union budget for fiscal 2023/24, which is expected to balance between staying fiscally prudent and meeting general public expectations of lower taxes and a wider social security net, while at the same time boosting the economy, amid concerns about the impact of the global slowdown.
Here are the highlights of the Union Budget 2023 so far:
During Covid-19 pandemic, the Union government provided free foodgrains to 80 crore poor people: FM Sitharaman
India's growth at 7 pc in current fiscal highest among major economies, she says
Govt implementing scheme to supply free grains to poor under PMGKAY with expenditure of Rs 2 lakh crore, from Jan 1
Per capita income has increased to Rs 1.97 lakh
Govt made cash transfer of Rs 2.2 lakh crore under PM-KISAN
National Rural Livelihood Mission has achieved remarkable success by mobilising rural women into 1 lakh SHGs
9.6 cr LPG connections, 220 cr Covid vax for 102 cr people given, 47.8 cr JanDhan accounts opened
Digital public infrastructure for agriculture will be built as open source, open standard and interoperable public good
Govt to launch a Rs 2,200 crore Aatmanirbhar clean plant programme
National cooperative database is being created to map cooperative societies
Agriculture credit target increased to Rs 20 lakh crore for FY'24, with focus on animal husbandry, dairy and fisheries
Facilities in select ICMR labs will be made available for research by public and private medical faculties
Govt plans to set up massive decentralised storage capacity to help farmers
National digital library for children and adolescents will be set up for facilitating quality books
Pradhan Mantri Primitive Vulnerable Development Commission being launched; Rs 15,000 cr earmarked for next 3 years
38,800 teachers will be hired for Ekalavya Model Residential Schools
Govt to provide Rs 5,300 crore assistance to drought-prone central region of Karnataka
PM Awas Yojana outlay hiked by 66 pc to Rs 79,000 crore
Capital investment outlay is being increased steeply for third year in a row to Rs 10 lakh crore
PM Primitive Vulnerable Tribal Group scheme to benefit 3.5 lakh tribals
Centre to continue 50-year interest-free loans to state governments for one more year
Enhanced Capex of Rs 10 lakh cr for infra development is 3.3 pc of the GDP
Capital outlay of Rs 2.4 lakh cr provided for Railways; highest-ever allocation since 2013-14
100 critical transport infrastructure projects have been identified for implementation
For enhancing ease of doing business, more than 39,000 compliances have been reduced, over 3,400 legal provisions decriminalised
Govt to bring National Data Governance policy
PAN will be used for common identifier for all digital systems of specified government agencies
If MSMEs fail to execute contract, 95 pc of performance security will be returned to small business as part of Vivad Se Vishwas
State support mission of Niti Aayog will be continued for 3 years
100 labs for developing applications for 5G services will be set up in engineering institutions
Govt targeting 5 MT of Green Hydrogen production by 2030
Budget provides for Rs 35,000 cr for priority capital investment towards energy transition & net zero objective
Infrastructure development capex hiked by 33 pc to Rs 10 lakh crore for 2023-24
Govt proposes to increase income tax rebate limit from Rs 5 lakh to Rs 7 lakh in new tax regime
