India’s Union Budget 2023: A Vision for a Self-Reliant and Prosperous India
The budget focuses on reviving economic growth, creating employment opportunities, and improving the standard of living for all citizens.
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Union Budget 2023: Finance Minister Nirmala Sitharaman presented the Union Budget 2023 in the Parliament today, outlining the government’s vision for a self-reliant and prosperous India. The budget focuses on reviving economic growth, creating employment opportunities, and improving the standard of living for all citizens.
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The key highlights of the budget include:
Agriculture and Rural Development:
The government has allocated a record amount of Rs. 1.41 lakh crore for the agriculture sector, to double the income of farmers and ensure food security for the nation. The budget also announced the launch of a new scheme to provide micro-irrigation facilities to farmers, which will help increase their yields and reduce water waste.
Infrastructure:
The government has allocated Rs. 5.54 lakh crore for infrastructure development, which includes the construction of new highways, ports, and airports, as well as the upgrade of existing infrastructure. This will provide a major boost to the construction sector, creating employment opportunities and contributing to economic growth.
Healthcare:
The budget has allocated Rs. 2.23 lakh crore for healthcare, with a focus on improving public health facilities and increasing the availability of affordable medical care for all citizens. The government has also announced plans to set up new medical colleges and hospitals, and to provide health insurance to all citizens.
Education:
The budget has allocated Rs. 93,000 crore for the education sector, with a focus on improving the quality of education and increasing access to education for all citizens, particularly in rural areas. The government has also announced plans to set up new schools and colleges, and to provide financial assistance to students from economically weaker sections.
Tax Reforms:
The budget announces several measures aimed at simplifying the tax system and reducing the compliance burden on taxpayers. The government has proposed to introduce a new tax regime, under which taxpayers can opt for lower tax rates in exchange for giving up exemptions and deductions. This will help reduce tax evasion and increase revenue for the government.
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