Budget 2023 Key Highlights, FM Nirmala Sitharaman's #budget #budget2023 #budgethighlights #shorts
1. FY23 growth estimated at 7%
2. Agriculture accelerator growth fund to support Agri Startups and Farmers
3. Agriculture credit target increased to Rs 20 lakh crore
4. New Rs 6,000 crore scheme launched for Fisheries
5. Proposed Capital expenditure of Rs 10 lk cr for FY24, up 33%
6. PM Awas Yojana Fund increased by 66% to Rs 79,000 Cr.
7. Plan to spend Rs 15000 cr vulnerable tribal group (PVTG) over 3 years
8. Capital Outlay of 2.4 lakh Cr for Railways.
9. Highest ever Railway outlay at Rs 2.4 lakh Cr 9x over FY14.
10. Effective Capex will be Rs 13.7 lakh Cr forming 4.5% of GDP.
11. Credit guarantee for MSME
12. The revamp schemes will take effect from 1st Apr 2023 through an infusion of Rs 9,000 crore in the corpus.
13. Cost of Credit will reduce by 1%.
14. This will enable another collateral-free credit of Rs 2 lakh crore.
15. FY24 fiscal deficit target at 5.9%; target below 4.5% by FY25-26.
16. Green push, Outlay of Rs 35k Cr for Energy transition investments.
17. To provide support to 47 lakh youths in 3 years, a Direct Benefit Transfer under a pan India national apprenticeship scheme
18. The Centre will borrow Rs 15.43 lakh crore via BONDS in 2023-24 on a gross basis - a new all-time high.
19. In net terms, the Borrowing programme has been fixed at Rs 11.8 lakh crore. These are in line with market expectations of Rs 15.5 lakh crore and Rs 11.7 lakh crore, respectively.
20. The expansion of the Government digital certificate depository Digilocker services for the Fintech sector.
21. Relief in custom duty on import of mobile phones like camera lens and batteries by another year.
22. Income tax rebate limit increased from Rs 5 lakh to Rs 7 lakh under new tax regime