Finance Minister Nirmala Sitharaman presented Union Budget for 2023-24 in Parliament today. She said that Indian economic is on the right track and is heading towards a bright future, despite challenging times. Ms Sitharaman said the economic growth in the current year is estimated to be at 7 per cent. Stating that this is the first budget in Amrit Kaal, the Finance Minister said, the vision for the Amrit Kaal includes technology-driven and knowledge-based economy with strong public finances, and a robust financial sector. The budget hopes to build on the foundation laid in the previous budget and blueprint drawn for India@100.
The Finance Minister announced that the Capital investment outlay will be increased by 33 per cent to 10 lakh crore rupees, which would be 3.3 per cent of GDP.
To spur investment in infrastructure, Ms Sitharaman said, the government has decided to continue the 50-year interest-free loan to state governments for one more year to incentivize them for complementary policy actions, with a significantly enhanced outlay of 1.3 lakh crore rupees. Union Budget 2023-24 is first general budget of Amrit Kaal that will provide growth and job creation: BJP president JP Nadda
