Important Features of Budget FY 2023-24
Important Features of Budget 2023
- Government capex on infrastructure has been increased by 33% to 10 lakh crore compared to last year.
- All time high Capital outlay of Rs 2.4 lakh crore provided for the Railways.
- Urban Infrastructure Development Fund (UIDF) of 10000 Cr will be set up to create urban infra for tier 1 and tier 2 cities
- 100 transport infrastructure projects, for last and first mile connectivity of steel, coal, ports and food grain sector will be taken up with the investment of Rs 75,000 crore
- 50 Years Interest free loan to states to spent on capital expenditure
- PMAY housing got an allocation of Rs 79000 cr for affordable housing
- New Infrastructure Finance Secretariat will be set up for Private investment in Infra
- PM Pranam scheme to incentivize states to promote alternative fertilizers
- Digital Public infrastructure for agriculture to enable inclusive farmer centric solution
- Agriculture Accelerator fund of 20 lac crore to promote Agri start ups
- Targeted Agri credit funding of 20 trillion to dairy, fisheries and Animal husbandry sectors
- Horticulture clean plant program
- 1 cr farmers to be supported to adopt natural farming, for this, 10,000 bio input resource centers & network for distributing micro fertilizer and pesticide manufacturing to be set up
- Making India Global Hub for Millets “Sree Anna”
- Increase to income tax rebate from 5 lacs to 7 lacs under new tax regime
- New cooperatives that commence manufacturing activity till March 2024 to attract lower tax rate of 15%
- Implementationof scheme to supply free grains to poor under PMGKAY of 2 lac crores
- PMPBGT Development mission to launched of 15000 cr to be implemented in next 3 years benefitting 3.5 lacs of tribals
- 5 MMT under Green hydrogen mission and 35000 Rs crore outlay for energy security
- “Mangrove Initiative for shoreline Habitats & Tangible Incomes” MISHTI to be taken up for mangrove plantation along coastline
- 157 New nursing colleges to be established
- Sickle cell Anemia elimination mission to be launched
- Setting up 100 labs for 5g Application for employment potential
- Training of the youth on the need of industry
- 30 Skill India International centre to be setup by Pradhan Mantri Kaushal Vikas Yojana.
- National Digital Library to be setup
- 3 centre of excellence for AI will be setup
- DBT under PAN India National Apprenticeship Promotion.
Vivad Se Vishwas – 95 per cent of performance security will be returned if MSME fails
39,000 compliances reduced, 3,400 legal provisions decriminalized f
The revamped Credit Guarantee Scheme for MSME with infusion of Rs. 9,000 crores.
Women & Senior citizen
Mahila Samman Savings Certificate will be introduced which allows savings up to 2 lakh for 2 years at 7.5%.
The maximum deposit limit for Senior Citizen Savings Scheme will be enhanced from Rs 15 lakh to Rs 30 lakh