Budget 2023: Union Finance Minister Nirmala Sitharaman announced the Modi government’s final full-fledged Union Budget before the 2024 Lok Sabha elections today (1 February 2023). The strategy is projected to increase funding for infrastructure, defence, and logistics, resulting in windfalls for linked businesses. The Budget Session of Parliament began on Tuesday and will end on February 13th.
Nirmala Sitharaman began her speech and said the Indian economy is on the right track and is heading towards a bright future. She also mentioned that Per capita income has more than doubled to 1.97 Lakh rupees. India’s economy increased in size from 7400 cr digital payments to 126 lac crore rupees through UPI
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Budget 2023: Agricultural Sector
- In the agricultural sector, the aim for the agricultural credit would be raised to Rs 20 lakh crores, with a focus on animal husbandry, dairy, and fisheries.
- An Agriculture Accelerator Fund will be set up to encourage agri-startups by young entrepreneurs.
- The government is supporting a cooperative-based model for small and marginal farmers in order to accomplish the objective of “Sahakaar se Samruudhi” by establishing 63000 primary agricultural credit organisations.
During the COVID pandemic, we ensured that nobody goes to bed hungry with a scheme to supply free foodgrains to over 80 crore persons for 28 months: FM Nirmala Sitharaman presents #UnionBudget2023 pic.twitter.com/n7lNXQZaRA
---Advertisement---— ANI (@ANI) February 1, 2023
- The government ensured food grains to every person by spending Rs 2 lakh crore. Free ration was arranged for 80 crore people for 28 months.
- Over the next 3 years, one crore farmers will get assistance to adopt natural farming. 10,000 bio input resource centres will be set up.
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The agricultural credit target will be increased to Rs 20 lakh crores with a focus on animal husbandry, dairy and fisheries: FM Sitharaman pic.twitter.com/A8rOgufZK2
— ANI (@ANI) February 1, 2023
- Indian Institute of Millet Research will be supported as a centre of excellence.
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