Estimated reading time: 4 minutes
The Union Minister of Finance and Corporate Affairs, Smt. Nirmala Sitharaman Today presented the Union Budget 2023-24 in Parliament.
In the past nine years, India has seen significant growth in its economy and social development initiatives. The per capita income has more than doubled to ₹1.97 lacks and the country has moved from being the 10th largest economy in the world to the 5th largest. The Employees’ Provident Fund Organization (EPFO) membership has also increased to 27 crores, and digital payments through UPI have reached 7,400 crores.
Under the Swachh Bharat Mission, 11.7 crore household toilets have been constructed, and 9.6 crore LPG connections have been provided through the Ujjwala scheme. Additionally, 220 crores of COVID-19 vaccinations have been administered to 102 crore persons, and there are now 47.8 crore PM Jan Dhan bank accounts.
The government has introduced several social welfare programs such as PM Suraksha Bima and PM Jeevan Jyoti Yojana which provide insurance cover to 44.6 crore persons, and PM Kisan Samman Nidhi, which provided cash transfer of ₹2.2 lakh crore to over 11.4 crore farmers.
The seven priorities of the budget are inclusive development, reaching the last mile, infrastructure and investment, unleashing potential, green growth, youth power, and the financial sector. The Atmanirbhar Clean Plant Program will be launched with an outlay of ₹2200 crore to boost the availability of high-quality planting material for horticultural crops.
157 new nursing colleges will be established in co-location with existing medical colleges, and the Centre will recruit 38,800 teachers and support staff for the 740 Eklavya Model Residential Schools over the next three years.
PM Awas Yojana is being increased by 66% from Rs 5000 to more. 79,000 cr, and a capital outlay of Rs. A provision of Rs 2.40 lakh crore has been made for the Railways, the highest-ever outlay. The Urban Infrastructure Development Fund (UIDF) will be established through priority sector lending and will be used by public agencies to create urban infrastructure in Tier 2 and Tier 3 cities.
DigiLocker will be set up for use by MSMEs, large businesses, and charitable trusts to store and share documents online securely. 100 labs will be set up for 5G services-based application development to realize a new range of opportunities, business models, and employment potential.
500 new ‘waste to wealth’ plants will be established under the GOBARdhan scheme, and the Centre will facilitate one crore farmers to adopt natural farming over the next three years by setting up 10,000 Bio-Input Resource Centres. Pradhan Mantri Kaushal Vikas Yojana 4.0 will be launched to skill lakhs of youth within the next three years, and 30 Skill India International Centres will be set up across multiple states to skill the youth for international opportunities.
A revised credit guarantee scheme for MSMEs will come into effect from April 1, 2023, and a central processing center will be set up to enable companies to respond faster through centralized handling of various forms filed with field offices under the Companies Act. The maximum deposit limit for the Senior Citizen Savings Scheme will be increased from Rs.15 lakh to Rs.30 lakh.
The Indian economy has shown significant growth in the past nine years with a rise in per capita income, digital payments, EPFO membership, and household toilets. The government has also focused on social welfare schemes such as the PM Kisan Samman Nidhi, PM Jan Dhan bank accounts, and PM Suraksha Bima, and PM Jeevan Jyoti Yojana, which provide insurance coverage to 44.6 crore people.
The government’s seven priorities of inclusive development, infrastructure, green growth, and financial sector are aimed at enhancing the country’s overall growth and development. The budget provides a significant boost to the agricultural sector through the creation of an Agriculture Accelerator Fund and the launching of PM Matsya Sampada Yojana, among other initiatives.
The government is also focused on skilling the youth and promoting research in various sectors, such as millet, pharmaceuticals, and medicine. The aim of these efforts is to transform India into a global hub for various industries and to provide a better life for its citizens.
Latest Stories
Aries (March 21 - April 19): Today, Aries might feel a surge of energy and confidence, propelling them to take on new challenges. It's a great day for initiating projects and making bold…
Click here to Read more
Sony Xperia 1 VI: Mark your calendars as Sony gears up to unveil the highly anticipated Xperia 1 VI on 17th May 2024. With a host of cutting-edge features and enhancements, the Xperia…
Click here to Read more
Arti Singh's recent wedding to Dipak Chauhan was the talk of the town, and the buzz around it still lingers. The actress shared a heartwarming video of her sangeet performance, captivating viewers with…
Click here to Read more
Google Pixel 8a: Google unveils the Pixel 8a, offering an impressive array of features and specifications at an attractive price point of €549. Let's delve into the complete specifications of this highly anticipated…
Click here to Read more
Arjun Bijlani, a prominent figure in the entertainment industry, currently enthralls audiences with his portrayal of Shiv in the TV series "Pyar Ka Pehla Adhyaya: Shiv Shakti." Recently, the show celebrated a significant…
Click here to Read more
Prime Minister Narendra Modi extends heartfelt tribute to Srila Gopal Krishna Goswami Maharaja, acknowledging his revered status as a spiritual luminary globally. Maharaja's unwavering devotion to Bhagwan Shri Krishna and tireless service through…
Click here to Read more
Sushmita Sen, the epitome of timeless beauty, once again captured hearts as she graced the ramp as the showstopper for designer Rohit Verma at the Bombay Fashion Week. Dazzling in a golden ensemble…
Click here to Read more
Bollywood Actress Radhika Madan, the vibrant Bollywood star, celebrated her birthday on May 1 in style, sharing glimpses of her "Andaaz Apna Apna" themed party on Instagram. The actress, known for her infectious…
Click here to Read more
The India Meteorological Department (IMD) has issued a heatwave advisory for several regions, including West Rajasthan, Saurashtra & Kutch, and interior Karnataka, on 7th May 2024. With temperatures expected to soar, residents are…
Click here to Read more
Celebrations are in order as the teaser for Manoj Bajpayee's 100th film, "Bhaiyya Ji", has been unveiled! Scheduled for release on 24th May, this milestone film marks a momentous occasion for the talented…
Click here to Read more
Mahindra: In a captivating display of ingenuity, a viral video is challenging traditional notions of transportation as a man effortlessly navigates a massive wardrobe on a bike, all without the aid of a…
Click here to Read more
Dia Mirza made a stunning appearance as the showstopper for fashion designer Chaulaz Heritage at the Bombay Times Fashion Week 2024. The actress gracefully walked the ramp, captivating the audience with her elegance…
Click here to Read more
The India Meteorological Department (IMD) has issued a stern warning regarding impending heatwave conditions across multiple states in India. According to the latest advisory, heatwave to severe heatwave conditions are very likely to…
Click here to Read more
Arti Singh and Dipak Chauhan's enchanting wedding has captivated attention since their pre-wedding festivities commenced. Despite keeping their relationship low-key, their wedding ceremonies and pre-wedding events became the talk of the town. Arti…
Click here to Read more
The Election Commission of India (ECI) took to Twitter to address a misleading post regarding the conduct of polling at a polling station in Assam. The post, shared under the hashtag #GE2024, implied…
Click here to Read more
Manoj Bajpayee, a celebrated actor known for his versatility, is set to make waves in Bollywood once again with his upcoming film "Bhaiyya Ji." What's more, he steps into the role of a…
Click here to Read more
Arvind Kejriwal: The Aam Aadmi Party (AAP) has announced its star campaigners list for the upcoming Lok Sabha elections in Delhi, featuring prominent leaders and strategists geared up to spearhead the party's campaign…
Click here to Read more
"The Great Indian Kapil Show" is generating immense excitement among fans with its star-studded guest lineup this season. From Aamir Khan to Ranbir Kapoor and his family, viewers eagerly anticipate each episode to…
Click here to Read more
As anticipation builds for Mahakumbh 2025, the construction of the Ganga Expressway is racing ahead, promising completion well before the grand event. Recent progress updates offer a glimpse into the bustling activity across…
Click here to Read more
Sonam Kapoor's recent Instagram post showcases heartwarming mother-son moments. The actress delighted fans by sharing two charming pictures with her adorable son, Vayu. In the snapshots, Sonam is seen gracefully holding Vayu while…
Click here to Read more
Uttarakhand Chief Minister Pushkar Singh Dhami expressed profound grief at the passing of ISKCON chief Most Rev. Gopal Krishna Goswami Maharaj. "Received the extremely painful news of the demise of ISKCON chief Most…
Click here to Read more
In a solemn ceremony at Rashtrapati Niwas, Mashobra, Shimla, President Droupadi Murmu paid heartfelt floral tributes to the late Giani Zail Singh, former President of India, on his birth anniversary. The dignified event…
Click here to Read more
Uorfi Javed continues to captivate the internet with her bold fashion statements, and her recent appearance was no exception. The actress, known for her unique style, turned heads in a stunning butterfly-themed gown.…
Click here to Read more
Prime Minister Narendra Modi embarked on a spiritual journey by visiting Gurudwara Sri Kirtangarh Sahib in Kanpur. Expressing his reverence, PM Modi emphasized the profound impact of Sikh Gurus' thoughts and ideals on…
Click here to Read more
In a concerning development, militants launched an attack on an Indian Air Force vehicle convoy near Shahsitar in the Poonch district of Jammu and Kashmir. The incident has prompted heightened security measures in…
Click here to Read more
Allu Arjun's latest song "Pushpa Pushpa" from his upcoming film "Pushpa 2: The Rule" has taken the internet by storm since its release earlier this week. The song has already become a massive…
Click here to Read more
World Laughter Day: Arunachal Pradesh Chief Minister Pema Khandu joins the global celebration of World Laughter Day, extolling the profound impact of laughter as a universal language of joy. "Today, we celebrate World…
Click here to Read more
On May 4, Kareena Kapoor Khan was appointed as Unicef India's National Ambassador, marking a significant milestone in her journey with the organization. This new role is a testament to her longstanding commitment…
Click here to Read more
Giani Zail Singh on Birth Anniversary: Arunachal Pradesh Chief Minister Pema Khandu commemorates the birth anniversary of former President Giani Zail Singh, acknowledging his enduring influence and statesmanship. Singh, renowned as India's seventh…
Click here to Read more
Uttarakhand Chief Minister Pushkar Singh Dhami, through virtual means, has initiated a significant step in supporting pilgrims embarking on the sacred journey from Ukhimath to Kedarnath Dham. Dhami flagged off a team of…
Click here to Read more
The much-awaited film, "Sunny Sanskari Ki Tulsi Kumari", featuring Varun Dhawan, Janhvi Kapoor, and Sanya Malhotra, has kicked off its shooting journey. The cast recently shared glimpses of the auspicious pooja ceremony on…
Click here to Read more
Anand Mahindra, the renowned industrialist, recently shared a thought-provoking post capturing the essence of wildlife coexistence and infrastructure development. The post features two captivating photographs showcasing an elevated highway segment of NH 44…
Click here to Read more
Actor Kartik Aaryan has ignited excitement among fans by sharing a glimpse from the trailer dubbing session of his upcoming film "Chandu Champion". The actor took to Instagram to tease his followers with…
Click here to Read more
Minor Earthquake: The National Center for Seismology has alerted residents of Assam following a minor earthquake registering a magnitude of 3.1. The seismic event, which occurred at 00:46:28 IST on May 5th, 2024,…
Click here to Read more
Ritesh Sidhwani and Farhan Akhtar’s Excel Entertainment has set the stage for their next big project, "Agni," announced on International Firefighters Day, May 4, 2024. Directed by Rahul Dholakia, this film marks their…
Click here to Read more
Nitin Gadkari, the Union Minister for Road Transport and Highways, recently inaugurated the 4-lane Sinnar-Shirdi section of NH-160, heralding a new era of connectivity and devotion. Describing it as a sacred 'Marg' for…
Click here to Read more
The much-awaited teaser of "Savi" starring Anil Kapoor, Divya Khossla, and Harshvardhan Rane is set to drop on May 6, 2024. Directed by the acclaimed Abhinay Deo, this film promises a captivating cinematic…
Click here to Read more
As we navigate through the dynamic and ever-changing weather patterns across the Indian subcontinent, it's crucial to stay abreast of the latest forecasts and warnings to ensure preparedness and safety. From cyclonic circulations…
Click here to Read more
Preschoolers are at a stage in their development where they are learning to assert their independence. Defiance is a common behavior during this phase as they test boundaries and push limits. It's important…
Click here to Read more
Encouraging Creativity in Kids: Creativity is a precious gift in every child, waiting to be nurtured and unleashed. In today's world, where standardized education often prioritizes rote learning and conformity, fostering an environment…
Click here to Read more
Aries (March 21 - April 19): Today might bring unexpected opportunities for Aries individuals. Stay open to new ideas and be flexible in your approach. Your energy levels might be high, so channel…
Click here to Read moreThe Indian Meteorological Department (IMD) has issued a heat wave alert for several regions across India, warning of soaring temperatures expected on May 08, 2024. According to the IMD forecast, there is a…
Click here to Read more
