Union Budget 2023 sets tone for India’s economic growth

The Union Budget has given a lot of emphasis on economic growth, digital infrastructure, health care and education

New Delhi, Feb 01: Union Finance Minister Nirmala Sitharaman on February 1 presented the Union Budget 2023 setting the tone for India's economic growth and development in the coming fiscal year. This year the Budget focused on several key sectors, including agriculture, health, infrastructure, education and digital technology among others.

Agriculture Sector: For the agriculture sector the Union Government has allowed Rs 2.83 crore promising to boost the income of the farmers and also modernise the sector. The allocation would cover the Pradhan Mantri Nasal Bima Yojana, Pradhan Mantri Kisan Samman Nidhi Scheme, and the distribution of soil health cards for the farmers.

Infrastructure: With an allocation of Rs 5.54 lakh crore the Budget provides a major boost to the infrastructure sector such as roads and highways. An allocation of Rs 1.07 lakh crore has been made for urban infrastructure while Rs 3.05. crore has been allowed for rural infrastructure. The Government also announced that it would be setting up a National Recycling Fund to promote the circular economy.

Health: A significant allocation of Rs 2.24 lakh crore has been made for the health sector. The Government said that the focus would be on providing free vaccines to all citizens apart from setting up new medical colleges and hospitals. In her address, the Finance Minister said that the aim is to provide affordable and accessible healthcare to all citizens.

Education: A total allocation of Rs 93,224 crore has made to the education sector. The Government said that the focus would be on improving the quality of education and increasing the reach of the education system. Further the government anointed that it plan to establish a National Recruitment Agency to conduct a common eligibility test for non-gazetted government posts.

Digital Technology: The Government allotted Rs 3,700 crore for the development of digital infrastructure and Rs 2,000 crore for the National Digital Architecture. To promote the use of artificial intelligence in various sectors, the Government also proposed the creation of a National Artificial Intelligence Portal.