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Budget 2023
Finance Minister Nirmala Sitharaman in Parliament, to present Budget at 11 am FM Nirmala Sitharaman begins Union Budget 2023 Economic growth is expected to be at 7 percent, highest among major economies Indian economy has grown from tenth to fifth largest in the world Centre to pay for Garib Kalyan Anna Yojana This is the first Budget of Amrit Kaal GDP growth for FY23 estimated at 7 percent Digital infrastructure and COVID vaccinations helped India stay on track Promotion of tourism will be taken up on Mission mode Govt will be implementing scheme to supply free grains to poor under PMGKAY from 1 January 2023 Seven Priorities of Budget -- Saptarishi --Inclusive development, Reaching last mile, Infrastructure and investment, Unleashing potential, Green growth, Youth power, Financial sector Agricultural accelerator fund to be setup to support agricultural start-ups 157 new nursing colleges will be established in core locations Indian Institute of Millet Research will be supported as Centre of Excellence India to be global hub for Millets Agri credit to be enhanced to Rs 20 lakh crore Govt will launch the Atmanirbhar Clean Plant Programme to improve availability of disease-free quality planting material In next three years, govt will employ 38,800 teachers and support staff for 740 Eklavya Model Schools supporting tribal students National digital library for children and adolescents will be set up for facilitating quality books Capital outlay of Rs 2.40 lakh cr for Railways in FY24 An amount of Rs 75,000 cr for 100 critical transport infra projects 66 percent increase in PM Awas Yojana to Rs 79,000 crore Govt has enhanced capex outlay by 33 percent to Rs 10 lakh cr which would be 3.3 percent of GDP 50-year interest free loans will continue for states Capital investment outlay increased steeply for third year in a row to Rs 10 lakh cr 50 additional airports, heliports, water aerodromes, advanced landing zones to be revitalised National Hydrogen Mission will have an outlay of Rs 19,700 cr Rs 35,000 cr towards energy transition All cities and towns will be enabled for 100 percent transition of sewers and septic tanks from manhole to machine hole mode Battery energy storage systems of 4,000 MWh will be supported with viability gap funding One cr farmers will get assistance to adopt natural farming Coastal shipping will be promoted Govt to launch Pradhan Mantri Kaushal Vikas Yojana 4.0 30 Skill India International Centres will be set up across different states In a move to boost Tourism, 50 destinations will be selected in challenge mode PAN will be used as common identifier for all digital systems of specified govt agencies Mahila Samman Savings certificate for a two-year period This will offer deposit facility of up to Rs two lakh at 7.5 percent interest 100 labs to be established for developing apps using 5G Rs 2,200 cr towards Atmanirbhar Clean Plant Programme 500 new waste-to-wealth plants under the Gobardhan Scheme Phase-3 of the eCourt's project will be launched with an outlay of Rs 7,000 crore 10,000 bio input resource centres will be set up Three Centres of Excellence for Artificial Intelligence will be set up in top educational institutions Inter-state transmission system for evacuation and grid integration of 13 GW renewable energy from Ladakh will be constructed with an investment of Rs 20,700 cr including Central support of Rs 8,300 cr Government to spend Rs 2,200 cr for high-value horticulture PM Matsya Sampada Yojana to be launched, with a targeted investment of Rs 6,000 cr Central assistance of Rs 5,300 cr to be given to o Upper Bhadra Project in drought prone central regions of Karnataka 50-year interest-free loan to state governments to be continued for one more year States to be encouraged to set up Unity Mall in their state capital for the promotion and sale of their 'One District One Product' Mahila Samman Bachat Patra will offer deposit facility up to Rs 2 lakh at a fixed interest rate of 7.5 percent with partial withdrawal option Limit of Rs three lakh for tax exemption on Leave Encashment limit raised to Rs 25 lakh Coastal shipping to be promoted through PPP mode with viability gap funding Rs 9,000 cr for revamped credit-guarantee scheme to MSMEs Nominal GDP to grow at 15.4 percent in FY2022-23 Fiscal deficit to be at 5.9 percent in FY24

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