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India’s first Budget of the Amrit Kaal

The Union Budget 2023-24 provides a strong base to fulfil the aspirations and resolutions of a developed India. It gives the people of India an opportunity to achieve their dreams while attempting to balance global challenges.

Prime Minister NarendraModi and his team, with Finance Minister Nirmala Sitharaman, presented the Union Budget 2023-24 with lots of hope, ambition, vision and anticipation. It is no mean achievement that the Finance Minister could put together a budget amidst many challenges. Many of those were mentioned in her Budget speech. Prime Minister is confident and assured that the Budget presented for the financial year 2023-24 has huge potential to take India forward. He termed it the first Budget of Amrit kaal, which will build a strong foundation to fulfil the grand vision of a developed India. He pointed out that this Budget gives priority to the underprivileged. This Budget will fulfil the dreams of today’s aspirational society – village, poor, farmer, middle class. Provisions have been made for training, technology, credit and market support forcrores of ‘Vishwakarma’ who create something or the other. PM VishwakarmaKaushalSamman, i.e. PM Vikasis expected to bring a sea change in the lives of Vishwakarmas. A new initiative for the all-round development of the ‘women’s self-help groups’ will add a new dimension to this Budget. A special savings scheme for women is also being launched to give a fresh boost to the homemakers, mothers and sisters of the families. This Budget will make cooperatives the pivot of the development of the rural economy. An ambitious plan to form new primary cooperatives has also been announced in the Budget. A major plan for digital agriculture infrastructure has been announced in the Budget.

This Budget will give an unprecedented boost to Green Growth, Green Economy, Green Energy, Green Infrastructure, and Green Jobs for a sustainable future. In the Budget, the government has laid a lot of emphasis on technology and a new economy. An unprecedented investment of Rs 10 lakh croresin infrastructure will give new energy and momentum to India’s development. This investment will create new employment opportunities for the youth, providing new income opportunities to a large population. In this Budget, an additional loan guarantee of Rs 2 lakh crore has been allocated for MSMEs. Now increasing the limit of presumptive tax will help MSMEs to grow. A new system has been developed for timely payments by big companies to MSMEs. The government, in this Budget, has reduced the tax rate and made the process simple, transparent and fast. “By 2047, we will definitely build a prosperous India, a capable India, and a developed India in every way. Let us take this journey forward,” stated Prime Minister Modi.

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