Recap of Budget 2023: A look at FM Nirmala Sitharaman's key announcements

By Nandini Das CNBC-TV18.com Published July 23, 2024

[{"selector":"#anim-18b3e77d-334a-479b-8bb5-1e4049274a2c [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(13.849248446325943%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Nirmala Sitharaman is all set to present her seventh union budget. Here's a recap of the key announcements in Budget 2023:

1

[{"selector":"#anim-0252dec0-375a-4deb-9cc8-88c370e3d589 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.249999886225726%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] The FM had announced that the Centre would bear the expense of around ₹2 lakh crore under PM Garib Kalyan Anna Yojana, which provides free foodgrain to all under Antyodaya.

2

[{"selector":"#anim-0efee072-e65a-4800-9cf5-406e5fde9af2 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.367187386936816%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] The government announced to establish the agri accelerator fund for agro startups.

3

[{"selector":"#anim-c6de6dfe-d4fe-485b-b6f3-373a0ca2d49e [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(27.011002312435128%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] The agricultural credit target was increased to ₹20 lakh crore with a focus on animal husbandry, dairy and fisheries.

4

[{"selector":"#anim-2d3f9013-2f5d-4517-8b94-b8273d1ed8e7 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] The Indian government said it would increase spending ($122.3 billion) on long term capital expenditure in 2023-24, extending a strategy adopted to revive growth in the aftermath of the COVID-19 crisis.

5

[{"selector":"#anim-09cc0603-442b-4ee0-8c56-e23a23a72862 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.514648210040342%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] The allocation is higher than the ₹7.5 trillion budgeted for, in the previous year and the highest on record.

6

[{"selector":"#anim-c79c49c2-117d-4651-8d56-1102b8eadcf8 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.392185159572108%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] FM Nirmala Sitharaman increased the Pradhan Mantri Aawas Yojana spending by 66% to ₹79,000 crore.

7

[{"selector":"#anim-d0e2fe3c-6357-4cb2-9f83-65d391345dcc [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(36.60437470337975%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] India Increased its budget allocation to ₹790 billion for affordable housing in 2023-24.

[{"selector":"#anim-113652ac-653a-4fb9-a047-72705461fba9","keyframes":{"transform":["scale(1)","scale(1.5)","scale(0.95)","scale(1)"],"offset":[0,0.33,0.66,1]},"delay":0,"duration":1450,"easing":"ease-in-out","fill":"both","iterations":1}] [{"selector":"#anim-1a9c0ec5-5b47-4c90-82b4-4289f6d46db8 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-14.699245942806279%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Thanks For Reading! 10 interesting facts about India's Union Budget Read More