The Indian Union Budget 2023 was presented by the Honourable Finance Minister Nirmala Sitharaman on February 1st, 2023.
This budget is significant as it is the first budget presented by the government after the COVID-19 pandemic which has affected the economy globally.
The budget focuses on several key areas to boost the economy, create job opportunities and improve the overall standard of living of the citizens.
Financial Year Budget 2023-24
The government has proposed a total expenditure of Rs 34.83 lakh crore for the financial year 2023-2024.
The focus is on reviving the economy and creating job opportunities through various initiatives such as the creation of a National Recruitment Agency, a National Technical Textiles Mission, and a National Textile Policy.
The government has also proposed to set up a National Recruitment Agency to streamline the recruitment process for government jobs and make it more transparent and efficient.
Budget for Health Care Sector
The budget also focuses on improving the healthcare sector in India. The government has proposed setting up a National Health Stack to provide seamless healthcare services to the citizens.
The budget also proposes the setting up of a National Medical Devices Promotion Council promote the manufacture of medical devices in India and make them more accessible to the citizens.
Budget for Agriculture Sector
The agriculture sector is one of the key focus areas in the budget. The government has proposed setting up a National Agricultural Market to improve the marketing of agricultural products and provide better prices to farmers.
The government has also proposed to increase the allocation for the Pradhan Mantri Fasal Bima Yojana to provide insurance coverage to farmers and reduce their risk.
National Recruitment Agency
The education sector is also given significant importance in the budget. The government has proposed setting up a National Recruitment Agency for teachers to streamline the recruitment process for teachers and make it more transparent and efficient.
The budget also proposes the setting up of a National Technical Textiles Mission to provide training and support to the textile sector and improve the overall standard of living of the citizens.
Budget for Infrastructure & Development
The government has also proposed to increase the allocation for infrastructure development. The budget proposes to set up a National Infrastructure Pipeline to provide an investment of Rs 111 lakh crore over the next five years.
The government has also proposed to increase the allocation for the National Highways Development Project (NHAI) to improve connectivity in the country.
Pradhan Mantri Awas Yojana
The budget also focuses on improving the standard of living of the citizens. The government has proposed to increase the allocation for the Pradhan Mantri Awas Yojana to provide housing for all.
The budget also proposes to increase the allocation for the Swachh Bharat Abhiyan to improve sanitation facilities in the country.
Conclusion
The Indian Union Budget 2023 is a comprehensive budget that focuses on reviving the economy, creating job opportunities, and improving the overall standard of living of the citizens.
The budget proposes several key initiatives in the agriculture, healthcare, education, infrastructure, and housing sectors to achieve its objectives.
The budget reflects the government’s commitment to improving the lives of the citizens and making India a strong and prosperous nation.