All eyes are on the Budget announcements which are being made by Finance Minister Nirmala Sitharaman in the Parliament. Government is planning to spend Rs 2200 crore for high-value horticulture and an increase in agri credit target to Rs 20 lakh cr are some of the key announcements. Finance minister Nirmala Sitharaman announced that PAN will be used as a common identifier for all digital
Finance Minister Nirmala Sitharaman has unveiled a capex bazooka with a 33 percent hike over last year signifying that government means business and is willing to walk the extra mile to push the growth. The expansion of capex is a huge positive for the markets as it will help in crowding in private investment.
Budget 2023-24 allocated Rs 79,000 cr for Pradhan Mantri Awas Yojana giving a further boost to the govt’s program to provide housing to the urban poor. Nirmala Sitharaman said that outlay of PMAY is being enhanced by 66% to over Rs 79,000 crore.
She announces phase three of eCourts project, to be launched with an outlay of Rs 7,000 crore.
She says says like Rural Infrastructure Development Fund, Urban Infrastructure Development Fund will be set up for the use of priority sector lending shortfall.
Finance Minister added that government would continue 50-year interest-free loans to state governments for one more year to aid infrastructure investment with an outlay of Rs 1.3 lakh cr.
Rs 2.40 lakh cr has been provided for the Indian Railways- highest-ever outlay.