NEW DELHI: Presenting the Union Budget 2023-2024 in the Parliament Nirmala Sitharaman, Minister of Finance and Corporate Affairs, Government of India listed seven priorities of the budget and mentioned that they complement each other and act as the ‘Saptarishi’ to guide India through the Amrit Kaal. The Modi administration came up with the word “Amrit Kaal” to mark the 25-year period until 2047, when India would commemorate 100 years of its independence. It serves as the government’s 25-year roadmap.
The seven priorities are:
- Inclusive development
- Reaching the last mile
- Infrastructure and investment
- Unleashing the potential
- Green growth
- Youth power
- Financial sector
She emphasized that the Indian economy is on the right track and despite a time of challenges, heading for a bright future. Highlighting the importance of inclusive development, Sitharaman said that the government’s policy of ‘Sabka Saath Sabka Vikas’ has helped many sections including women, SCs, STs, OBCs, and other underprivileged sections.
In the health sector, 157 new nursing colleges will be established, a new programme to promote research in pharmaceuticals will be launched and joint public and private medical research will be encouraged via selected Indian Council of Medical Research (ICMR) labs.
According to Sitharaman, the government would also launch a programme to end sickle cell anemia (SCA) by 2047. A National Digital Library for children and teenagers will be established in the education sector, and states will be urged to establish physical libraries at the panchayat and ward levels.
With the next Lok Sabha election due next year, this is the last full budget of the Modi government.
The Finance Minister mentioned that this budget hopes to build on the blueprint drawn for India @100 which envisions a prosperous and inclusive India and that the development reaches all regions and citizens, especially our youth, women, farmers, OBCs, Scheduled Castes (SCs), and Scheduled Tribes (STs).
Sitharaman said that India’s rising global profile is due to several accomplishments, including world class digital public infrastructure namely Aadhar, Co-Win, and UPI; COVID-19 vaccination drive in unparalleled scale and speed, achieving climate-related goals, mission LiFE and National Hydrogen Mission. She added that during the pandemic, the government provided free food grains to over 80 crore people for 28 months. She also mentioned that under PM Garib Kalyan Anna Yojana (PMGKAY), the government is implementing the scheme to supply free food grain to all Antyodaya and priority households for the next one year, starting from January 1, 2023. The entire cost of about ₹2 lakh crore will be borne by the Central Government.
Sitharaman said that the government’s efforts since 2014 have been aimed at ensuring that all citizens get a better quality of life and a life of dignity; the per capita income has more than doubled to ₹1.97 lakh. Since 2014, the country’s economy has improved from being 10th to the fifth largest in the world.
The Finance Minister pointed out that the efficient implementation of many schemes, with universalization of targeted benefits, has resulted in inclusive development and listed some of the initiatives such as building 11.7 crore household toilets under Swachh Bharat Mission, distributing 9.6 crore LPG connections under Ujjwala Yojana, administering 220 crore Covid vaccinations of 102 crore persons, opening 47.8 crore PM Jan Dhan Bank Accounts, providing insurance cover to 44.6 crore persons under PM Suraksha Bima and PM Jeevan Jyoti Yojana, and Cash transfer of ₹2.2 lakh crore to over 11.4 crore farmers under PM Kisan Samman Nidhi.
The budget also presents vision for Amrit Kaal- a blue print for an empowered and inclusive economy. It includes a technology-driven and knowledge-based economy with strong public finances and a robust financial sector. To achieve this, Jan Bhagidari through Sabka Saath Sabka Prayas is essential. She also highlighted three key points to achieve this vision including facilitating ample opportunities for citizens, and the youth to fulfill their aspirations, providing a strong impetus to growth and job creation and lastly, strengthening macro-economic stability.