Finance Minister Nirmala Sitharaman presented the Union Budget for 2023-24 in Parliament yesterday. Attractive incentives and rebates in the new income tax regime, a steep hike in capital investments, and the biggest ever outlay in railways were the three big takeaways of Budget.
In her Speech, Ms Sitharaman also proposed to use Permanent Account Number (PAN) card as as a common identifier for all digital systems of government agencies.
The Government has also enhanced the outlay for Pradhan Mantri Awas Yojana by 66 per cent to over 79 thousand crore rupees.
The Defence Ministry has been allocated 5.94 lakh crore rupees in Budget 2023-24. This is 13.18 percent of the total budget, and a jump of 13 percent over previous year.
The Government has also decided to continue the 50-year interest free loan to state governments for one more year to spur investment in infrastructure and to incentivize them for complementary policy actions, with a significantly enhanced outlay of 1.3 lakh crore rupees.
Railway Minister Ashwini Vaishnaw said, the allocation of around 2.40 lakh crore to the Railways in the Union Budget will give a push to various infrastructure projects in the country.
Addressing a press conference in New Delhi yesterday, Mr Vaishnaw said, 1275 stations would be redeveloped under the Amrit Bharat Station Scheme. (AIR NEWS)