STATE TIMES NEWS
The Union Budget 2023-24 is set to be a historic budget for India. The budget will pave the way for the progress of every sector and every class. It will be the first budget of the golden age of independence that focuses on all-inclusive and aiming to elevate the strong foundation of self-reliant India.
Under the able leadership of Prime Minister Narendra Modi, Finance Minister Nirmala Sitharaman, the budget will further the mantra of Sabka Saath, Sabka Vikas, Sabka Vishwas and Sabka Prayas. In this Union Budget, while on the one hand attention has been paid to the integrated welfare of all at the micro-economic level, on the other hand arrangements have been made to emphasize on the growth of the macro-economic level.
Entering India’s Amrit Kaal for the next 25 years, the four priorities on which development has been emphasized in the budget will lead to a self-reliant India as well as a strong and prosperous India.
This budget will benefit every section of the society. The biggest grain storage has been planned. This is the center of rural development and digital payments will be seen in the agriculture sector as well. Apart from providing employment to a large population, this budget will boost the ease of living.
This first budget of Amrit Kaal is going to provide the basis for fulfilling the resolution of a self-reliant and developed India. The budget will fulfill the dreams of a society’s aspirations as it brings revolutionary proposals for farmers and middle class. The deprived sections have been given priority in the budget.
The budget’s driving force reflects the efficient leadership and visionary leadership of Prime Minister Narendra Modi. This budget reflects our stable economy, the power of young India and our multicultural work ethic. This budget has brought rays of development to the last man reflecting the vision of our government. This budget is going to emphasize on education, earning and well-being.
The new income tax exemption limit will benefit the middle class. Pensioners, family pensioners and people getting fixed salary will get relief in standard deduction in the new system. In 2002, the limit of income tax exemption for non-government salaried employees in leave encashment on retirement was fixed at three lakh rupees. At that time, the highest basic pay in the government was Rs.30,000. This limit is being increased to Rs 25 lakh. That is, there will be no tax on leave encashment up to Rs 25 lakh.
The startups in the agriculture sector will increase. The agricultural loan target will be increased to Rs 20 lakh crore. Agri startups will grow with the Agriculture Accelerator Fund. This will help the farmers and they will be able to face the challenges easily. This will increase productivity. It will be between farmers, state and industry partner.
Agriculture credit target has been increased to Rs 20 lakh crore with focus on animal husbandry, dairy and fisheries. In the next three years, one crore farmers will be encouraged for natural farming. Ten thousand bio input research centers will be established. For this, emphasis will be given on micro fertilizer.
A total of Rs 1,564 crore has been allocated in the Union Budget 2023-24 for Census 2021 and its related exercise. Census activities have been stalled for more than three years due to the Corona epidemic. The allocation for the census exercise is less than half the new amount compared to Rs 3,676 crore in last year’s budget estimates. Thus every penny is being taken care and the budget will usher new era of development and making India a self-reliant nation.
The government has provided a capital outlay of Rs 2.40 lakh crore for the railway sector. This is nine times more than the budget of 2013-14. Capital business has increased with special emphasis on roads and highways, railways, housing and urban works. This will directly affect the economic development of the country. In the budget, the budget of the central government’s biggest housing scheme for the poor has been increased by 66 percent.
The budget will create a strong foundation to fulfill the grand vision of a developed India. This budget gives priority to the underprivileged. This budget will fulfill the dreams of everyone in the village from poor section to farmers and middle class. PM’s Vishwakarma Kaushal Samman will bring a big change in the lives of crores of Vishwakarmas (workers). Traditionally in our country, one has to create something by working hard with own hands, tools and equipment. An ambitious scheme to form new primary co-operatives has also been announced in the budget.
After this budget, the digital payments will be made available to agriculture sector. Therefore, in this budget, we have come up with a very big plan for digital agriculture infrastructure. The drive for credit support and reforms for our industries has been taken forward. The middle class is a huge force to fulfill the dreams of a prosperous and developed India.