Budget 2023 Updates The Union Budget 2023, presented by Finance Minister Nirmala Sitharaman on 1st February 2023, focused on boosting economic growth, creating job opportunities, and enhancing the standard of living for all citizens. The budget allocation for various sectors reflected the government’s efforts towards these goals.
Agriculture and Rural Development: The budget allocation for the agriculture sector saw a significant increase, with a focus on providing better infrastructure and technology to farmers. The Pradhan Mantri Fasal Bima Yojana was extended to cover more crops, and a new scheme was introduced to provide financial assistance to farmers for buying equipment.
Also Read : Income Tax Calculator 2022 | Calculate your Tax In Few Steps
Budget 2023 Updates
Additionally, the government announced plans to set up 10,000 new Farmer Producer Organizations (FPOs) to help farmers sell their produce at better prices. Healthcare: The healthcare sector received a boost with an allocation of over Rs. 64,000 crores, which is an increase of 137% compared to the previous year. The government announced plans to set up a National Medical Commission to improve medical education and regulate the healthcare sector.
A new scheme was also introduced to provide free vaccines to all citizens, and an allocation of Rs. 35,000 crores was made for setting up new hospitals. Education: The education sector saw an increase in allocation, with a focus on improving the quality of education and increasing access to education. A new National Recruitment Agency was announced to streamline the recruitment process for central government jobs, and a new National Academic Depository was introduced to provide a secure online repository for academic certificates and awards.
Budget 2023 Updates
Infrastructure: The budget allocation for infrastructure saw a significant increase, with a focus on developing transport, energy, and water infrastructure. The government announced plans to set up a National Logistics Policy to improve the ease of doing business, and a National Recycling Fund was created to promote waste management.
Digital India: The government announced plans to further digitize the economy and improve access to digital services for all citizens. A new Digital India Corporation was set up to promote digital literacy and create job opportunities in the digital sector. An allocation of Rs. 1,500 crores was made for setting up a National Artificial Intelligence Portal to promote research and development in the field of artificial intelligence.
Budget 2023 Updates
Tax Reforms: The budget announced several tax reforms, including an increase in the standard deduction limit, the introduction of a new tax regime with lower tax rates, and the removal of several tax exemptions. The government also announced plans to simplify the tax filing process and improve the ease of doing business.
Social Welfare: The budget allocation for social welfare saw an increase, with a focus on providing better healthcare and education to all citizens. A new scheme was introduced to provide free laptops and internet access to students, and a new National Social Security Scheme was announced to provide financial assistance to the elderly and widows.
Budget 2023 Updates Conclusion
In conclusion, the Union Budget 2023 reflects the government’s efforts to boost economic growth, create job opportunities, and improve the standard of living for all citizens. The budget allocation for various sectors indicates the government’s focus on agriculture and rural development, healthcare, education, infrastructure, digital India, tax reforms, and social welfare. The budget is expected to have a positive impact on the economy and improve the standard of living for all citizens.
આજતક પર Live બજેટ જોવા અહીં ક્લીક કરો