Union Budget 2023-24: Powering India's Future with Big Announcements

The 2023-2024 Union Budget, presented by Finance Minister Nirmala Sitharaman, included several key announcements.

• The highest-ever allocation to the Railways, Rs 2.4 lakh crore, was made
• The agricultural credit target was increased to Rs 20 lakh crore.
• Plans for 50 additional airports and heliports for mobility infrastructure were outlined.
• 50 destinations will be selected for tourism through a challenge mode
• the Mahila Samman Savings Certificate will offer a 7.5% interest rate on deposits up to Rs 2 lakh for two years.
• The senior citizens' Savings Scheme deposit limit was raised to Rs 30 lakh.
• the income tax rebate limit was increased to Rs 7 lakh under the new tax regime.
• The allocation for PM Awas Yojana was increased by 66% to over Rs 79,000 crore.
• the capital investment outlay was raised by 33% to Rs 10 lakh crore or 3.3% of GDP in fiscal 2024.
• The effective capital expenditure of the center will be Rs 13.7 lakh crore.
• 157 new nursing colleges in major locations
• a mission to eliminate sickle cell anemia by 2047, was also announced.
• Tribals will receive Rs 15,000 crore for safe housing, sanitation, drinking water, and electricity over the next three years.
• All cities and towns will transition from manual to machine-based sewer and septic tank management.
• 38,800 teachers will be hired for Eklavya Model Residential Schools, and three AI centers of excellence will be established in top educational institutes.
• Rs 2,516 crore has been allocated for the computerization of 63,000 credit societies, and 100 labs will be set up in engineering institutions to develop 5G-powered apps.
• Rs 35,000 crore has been earmarked for an energy transition towards net-zero emissions goals, including a Green Hydrogen Mission and support for 4000 MWh battery energy storage systems.
• Business ease was facilitated with a reduction of 39,000 compliances, and 30 Skill India international centers will be established.
• One crore farmers will receive assistance for natural farming.