Important Features of Budget FY 2023-24

Infrastructure

• 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  

Agriculture

• 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”

Taxes

• 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%

Social Economic

• 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

Environment

• 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

Health

• 157 New nursing colleges to be established
• Sickle cell Anemia elimination mission to be launched

Youth

• 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.

MSME

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