Union Budget 2023-24 Highlights & Summary
The Indian Union Budget 2023-24, presented by Finance Minister Nirmala Sitharaman, highlights the government’s plans for the upcoming financial year. The budget focuses on infrastructure development, healthcare, education, and agriculture, with an emphasis on making India self-reliant and Atmanirbhar. In this article, we will take a closer look at the key highlights of the budget and how they are expected to impact the Indian economy.
Infrastructure Development Infrastructure development is at the heart of the government’s plans to make India self-reliant. The budget has allocated INR 5.54 lakh crore for the development of roads, airports, ports, power supply, and industrial corridors. This investment is expected to improve the connectivity of rural areas, boost the country’s economic growth, and create job opportunities.
The government also aims to make India a hub of the global supply chain by investing in the development of industrial corridors. The creation of world-class airports is also a key component of the infrastructure development plans. These investments will help in the development of new industries and promote tourism in the country.
Healthcare The government has allocated INR 2.23 lakh crore for the healthcare sector in the 2023-24 budget. This allocation is aimed at providing universal access to quality healthcare, especially in rural areas. The government plans to achieve this through the creation of a National Health Stack and Health Infrastructure Fund.
The National Health Stack will be a digital platform that will provide access to health services and information to people across the country. The Health Infrastructure Fund will provide financial support to the development of healthcare facilities in rural areas. These initiatives will help in improving the standard of healthcare in the country and reducing the burden on the healthcare system in urban areas.
Education The government has allocated INR 93,224 crore for the education sector in the 2023-24 budget. The focus of the budget is on online and digital education, with the aim of improving the quality of education and making it accessible to all, especially in rural areas.
The budget also includes the establishment of a National Recruitment Agency for the selection of non-gazetted officers. This agency will help in improving the recruitment process for government jobs, reducing the time and cost involved in the recruitment process, and ensuring a fair and transparent selection process.
Agriculture The budget has allocated INR 1.41 lakh crore for the agriculture sector, with a focus on improving the income of farmers and increasing food production. The government aims to provide support to the agriculture sector through measures such as the Pradhan Mantri Fasal Bima Yojana, the Pradhan Mantri Kisan Samman Nidhi, and the distribution of soil health cards.
The Pradhan Mantri Fasal Bima Yojana is an insurance scheme that provides financial protection to farmers against crop loss due to natural calamities. The Pradhan Mantri Kisan Samman Nidhi is a financial assistance scheme for small and marginal farmers. The distribution of soil health cards will help farmers in improving the productivity of their land.
In conclusion, the Indian Union Budget 2023-24 is focused on making India self-reliant and Atmanirbhar. The government’s investments in infrastructure development, healthcare, education, and agriculture are expected to improve the standard of living in rural areas, boost the country’s economic growth, and create job opportunities. The budget’s emphasis on digital solutions and the creation of new institutions will help in improving the efficiency and transparency of the delivery of public services. Overall, the budget is a positive step towards the development of India and its people.
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Highlights of the Indian Union Budget 2023-24 :
- Infrastructure Development: INR 5.54 lakh crore allocated for the development of roads, airports, ports, power supply, and industrial corridors.
- Healthcare: INR 2.23 lakh crore allocated for the creation of a National Health Stack and Health Infrastructure Fund, with a focus on universal access to quality healthcare.
- Education: INR 93,224 crore allocated for education, with a focus on online and digital education, and the establishment of a National Recruitment Agency.
- Agriculture: INR 1.41 lakh crore allocated for agriculture, with measures such as Pradhan Mantri Fasal Bima Yojana, Pradhan Mantri Kisan Samman Nidhi, and distribution of soil health cards aimed at improving the income of farmers and increasing food production.
- Focus on Self-Reliant India: The budget aims to make India self-reliant by investing in infrastructure, healthcare, education, and agriculture, with a focus on improving the standard of living in rural areas.
- Increase in Government Spending: The budget includes an increase in government spending in various sectors to boost the country’s economy and provide better services to the people.
Highlights of the budget for UPSC:
The Union Budget for the year 2023-24 presented by the Finance Minister Nirmala Sitharaman focuses on the government’s plans for the upcoming financial year. Here are the key highlights of the budget for UPSC:
- Infrastructure Development: INR 5.54 lakh crore allocated for the development of roads, airports, ports, power supply, and industrial corridors.
- Healthcare: INR 2.23 lakh crore allocated for the creation of a National Health Stack and Health Infrastructure Fund, with a focus on universal access to quality healthcare.
- Education: INR 93,224 crore allocated for education, with a focus on online and digital education, and the establishment of a National Recruitment Agency.
- Agriculture: INR 1.41 lakh crore allocated for agriculture, with measures such as Pradhan Mantri Fasal Bima Yojana, Pradhan Mantri Kisan Samman Nidhi, and distribution of soil health cards aimed at improving the income of farmers and increasing food production.
- Focus on Self-Reliant India: The budget aims to make India self-reliant by investing in infrastructure, healthcare, education, and agriculture, with a focus on improving the standard of living in rural areas.
- Increase in Government Spending: The budget includes an increase in government spending in various sectors to boost the country’s economy and provide better services to the people.
- Fiscal Measures: The budget has proposed measures to increase the revenue of the government, such as the elimination of exemptions and incentives, and the introduction of new tax measures.
- Disinvestment: The budget includes a plan for the disinvestment of public sector enterprises, with the aim of reducing the government’s debt and improving the efficiency of these enterprises.
These highlights of the Union Budget 2023-24 are important for UPSC exams as they demonstrate the government’s plans for the country’s economic and social development.
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