weather_iconDublin | 10.33 °C | AQI 21
Tuesday, 17 December, 2024

---Advertisement---

India

Union Budget 2023: ‘9 times higher than 2013-2014,’ says Centre on Railways budget

New Delhi: Union Finance Minister Nirmala Sitharaman on Wednesday announced a capital outlay of about Rs 2.40 lakh crore for railways sector. The Finance Minister presented the Union Budget 2023-24 in Lok Sabha. Comparing the budget for railways with that of in 2013-2014, Finance minitser said it is 9 times more. She told the Parliament that […]

union budget for railways

New Delhi: Union Finance Minister Nirmala Sitharaman on Wednesday announced a capital outlay of about Rs 2.40 lakh crore for railways sector. The Finance Minister presented the Union Budget 2023-24 in Lok Sabha.

Comparing the budget for railways with that of in 2013-2014, Finance minitser said it is 9 times more. She told the Parliament that was the highest ever and nine times of what it was in 2013.

---Advertisement---

Overall, the government proposed to increase capital expenditure outlay by 33 per cent to Rs 10 lakh crore in 2023-24, which would be 3.3 per cent of the GDP, said Union finance minister Nirmala Sitharaman.

Also Read :-BUDGET 2023: CENTRE RAISES CAPITAL EXPENDITURE OUTLAY BY 33% TO RS10 LAKH CRORE

---Advertisement---

“(This overall outlay) would be 3.3 per cent of GDP, almost three times the outlay made in 2019-20. With the substantial increase, it is central to government’s efforts to enhance growth potential and job creation, the crowd in private investments and provides a cushion against global headwinds,” Sitharaman said in her Budget speech.

Further, the government proposes to increase the agricultural credit target to Rs 20 lakh crore with a focus on animal husbandry, dairy and fisheries, Sitharaman told Parliament.

The agriculture sector of the country has been growing at an average annual growth rate of 4.6 per cent in the last six years.

The government will also launch a sub-scheme of the existing PM Matsya scheme to improve value chain efficiencies, she said.

Sitharaman started her Budget speech at 11 am, the last full Budget of the Modi government in its second term. Like the previous two Union Budgets, Union Budget 2023-24 is also presented in paperless form.

This year’s Budget holds much significance as the country is scheduled to have the next Lok Sabha election in April-May 2024.

As per established tradition, Finance Minister Nirmala Sitharaman along with ministers of state Pankaj Chaudhary and Bhagwat Karad and Finance Secretary T V Somanathan called on President Droupadi Murmu.

This is the fifth budget presentation by Sitharaman.

Also Read :-BUDGET 2023:157 NEW NURSING COLLEGES, TOURISM ON MISSION BASIS

The budget session of the Parliament began on Tuesday with President’s address, subsequently tabling the Economic Survey for 2022-23. The formal exercise to prepare the annual Budget for the next financial year (2023-24) commenced on October 10.

The Economic Survey, tabled in the Parliament on Tuesday, noted India’s GDP is expected to grow in the range of 6 to 6.8 per cent in the coming financial year 2023-24. This is in comparison to the estimated 7 per cent this fiscal and 8.7 per cent in 2021-22.

Read More :- Latest India News

HISTORY

Written By

Pranjal Gupta

Updated By

Manish Shukla


Get Breaking News First and Latest Updates from India and around the world on News24. Follow News24 on Facebook, Twitter.

Related Story

Live News

---Advertisement---


live

India Vs Australia, 3rd Test Day 4 LIVE Updates: KL Rahul OUT, Nathan Lyon Breaks India’s Crucial Partnership

Dec 17, 2024
India vs Australia 3rd Test, Day 4 Live Updates
  • 08:18 (IST) 17 Dec 2024

    IND vs AUS, 3rd Test Live Updates: 48th over

  • 07:50 (IST) 17 Dec 2024

    IND vs AUS, 3rd Test Live Updates: KL Rahul OUT

  • 07:38 (IST) 17 Dec 2024

    IND vs AUS, 3rd Test Live Updates: McSweeney saves a run

N24 Shorts Logo

SHORTS

Sports

IPL 2025: 3 RCB Stars Who Shone Bright In SMAT 2024!

Some of the prominent players of RCB who played brilliantly in the tournament.

View All Shorts

---Advertisement---

Trending