Union Budget 2023:  Here are the Key Highlights of Budget

By TH Team  01/02/2023

Finance Minister Nirmala sitharaman said that India’s growth at 7% in current fiscal is the highest among major economies. 

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India’s per capita income has increase to Rs 1.97 lakhs. 

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The central government will spend Rs 2 lakh crore on free food grains for all priority households under PM scheme. 

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The centre will introduce a Rs 2,200 core Aatmanirbhar clean plan programme. 

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Agriculture credit target has been increase to Rs 20 lakh crore for FY 24. Special focus will be on animal husbandry, dairy, and fisheries. 

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The government’s capex target for 2023-24 is 22% higher than the Budget Estimate of Rs 7.5 lakh crore for 2022-23, which was around Rs 10 lakh crore. 

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The PM Awas Yojana outlay has been hiked by 66% to Rs 79,000 crore. 

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The capital outlay of Rs 2.40 lakh crore for railways has been fixed for 2023-24. The amount is 9 times higher than what it was in 2013. 

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The centre announced to increase income tax rebate limit to Rs 7 lakh under new tax regime. 

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Capital investment of Rs 35,000 crore announced towards energy transition and net zero objective and energy security. 

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An outlay of Rs 19,700 crore for green hydrogen plan has also been introduced. 

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The government will set up Gowardhan Scheme for promoting circular economy with total investment of Rs 10,000 crore. 

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The centre will enhance maximum deposit for senior citizen saving scheme for Rs 15 lakh to Rs 30 lakh. 

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FM announced one-time new small savings scheme for upto 2 years till March 2025. This will have a deposit facility of upto Rs 2 lakh in the name of women. 

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FM announced to launch a Direct Benefit Transfer under a pan India national apprenticeship to support about 47 lakh youths in the next three years. 

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