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Wednesday, March 22, 2023

Union Budget 2023: Big Numbers Announced So Far

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Union Budget: Nirmala Sitharaman announces Rs 2.4 lakh crore for railways.

New Delhi:

  • Rs 2.4 lakh crore for railways, the highest ever
  • Agricultural credit target increased to Rs 20 lakh crore
  • Allocation for PM Awas Yojna increased by 66% to over Rs 79,000 crore
  • Capital investment outlay to be raised by 33% to Rs 10 lakh crore, to be 3.3% of GDP in fiscal 2024
  • Effective capital expenditure of centre to be Rs 13.7 lakh crore
  • Fiscal deficit target for fiscal 2024 is 5.9%, aim to reduce it to 4.5% by 2025-26. Fiscal deficit for fiscal 23 in line with 6.4% target. To finance fiscal deficit in 2023-24, net market borrowing from dated securities estimated at Rs 11.8 lakh crore
  • Tax receipts for next fiscal budgeted at Rs 23.3 lakh crore
  • 157 new nursing colleges in core locations, mission to eliminate sickle cell anaemia by 2047
  • Rs 15,000 crore over next three years for safe housing, sanitation, drinking water, and electricity for scheduled tribes
  • All cities and towns will be enabled for 100 percent transition of sewers and septic tanks from manhole to machine hole mode
  • 38,800 teachers will be hired for Ekalavya Model Residential Schools in next 3 years
  • 3 centres for excellence for AI will be set up in top educational institutes with the goal “Make AI in India”, “Make AI Work For India”
  • Computerisation of 63,000 credit societies with Rs 2,516 crore
  • 100 labs to develop apps using 5g services to be set up in engineering institutions
  • Green Hydrogen Mission for reduced dependence on fossil fuel: Rs 35,000 crore for energy transition to net-zero emission goals
  • Battery energy storage systems of 4000 MWh will be supported
  • For ease of doing business, 39,000 compliances reduced
  • 30 Skill India international centres across different states will be set up
  • 1 crore farmers will get assistance to adopt natural farming
  • 100 critical transport projects — 50 additional airports, heliports, etc will be revived
  • For tourism, 50 destinations will be selected through challenge mode
  • Mahila Samman Savings Certificate will be made available for two years, deposits of up to 2 lakh at 7.5% interest
  • Senior citizens savings scheme cap increased from Rs 15 lakh to Rs 30 lakh
  • Monthly Income Scheme limit doubled to Rs 9 lakh and Rs 15 lakh for joint accounts
  • The revamped Credit Guarantee Scheme for MSME sector will take effect from April 1, 2023 with an infusion of Rs 9,000 crore
  • Basic customs duty rates to be reduced from 21% to 13%
  • Taxes on cigarettes hiked by 16 percent

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Budget 2023: Nirmala Sitharaman Announces Rs 2.4 Lakh Crore For Railways

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