Union Budget 2023-24 Highlights

The Finance Minister Smt Nirmala Sitaraman presented the Union Budget 2023-24. The budget was presented based on seven priorities namely Inclusive development, Infrastructure and Investment, youth power, unleashing the potential, green growth, financial sector, and reaching the last mile. It focused on inclusive development


  • Agriculture Accelerator Fund to be set up
  • Horticulture Clean Plan Program to be launched
  • Informative solutions for farmers
  • Rs 20 lakh crores credit targeting Dairy, Animal Husbandry, and Fisheries Sector
  • SREE ANNA: To make India a Global Hub for millets; Support to IIMR, Hyderabad to promote research in the field
  • Increase storage capacity


  • 157 new nursing colleges to be built
  • Sickle Cell Anemia Elimination Program to be launched
  • New Program to increase pharmaceutical research
  • ICMR labs: Increase PPP-based medical research

Education and Skills

  • National Digital Library will be launched
  • Teacher training program to be revamped
  • Physical libraries at ward levels and panchayat levels by state governments

Reaching the Last Mile

  • Pradhan Mantri PVTG (Particularly Vulnerable Tribal Groups) Development Mission will be launched
  • Financial Assistance to Karnataka: For micro-irrigation in drought-prone region
  • Eklavya Model Residential Schools: New teachers will be recruited
  • Bharat SHRI will be set up. SHRI is the Shared Repository of Inscription

Infrastructure and Investment

  • Capital investments are to be increased to Rs 10 lakh crores.
  • To incentivize infrastructure investment, the fifty-year interest free loan scheme to the state governments is to continue
  • Railways: Rs 2.5 lakh crores allocated
  • Urban infrastructure to be boosted in tier 2 and tier 3 cities through UIDF – Urban Infrastructure Development Fund

Green Growth

  • PM – PRANAM to be launched: To be established under GOBAR Dhan scheme
  • Green Credit Programme to be launched
  • MISHTI: Mangrove Initiative for Shoreline Habitats and Tangible Incomes to be launched
  • The following will be promoted
    • Battery Energy Storage System
    • Coastal Shipping – Energy Efficient Transportation
  • Funds to replace old polluting government vehicles


  • PMKVY 4 to be launched
  • 50 tourist spots will be developed
  • Unity malls to be set up (by states) to promote One District One Product


  • National Financial Information Registry to be established
  • A central Data processing center is to be created
  • Credit Guarantee Scheme for MSME: Rs 2 lakh crores
  • Mahila Samman Bachat Patra to be launched: One-time small savings scheme
  • Increase the maximum deposit limit of senior citizens’ savings scheme to Rs 30 lakhs. Before it was Rs 15 lakhs
  • Initiatives to promote GIFT IISC

Funds allocated (in lakh crore rupees)

  • Defence Ministry: 5.94
  • Road and highways Ministry: 2.7
  • Railways: 2.41
  • Consumer Affairs and Food Public Distribution: 2.06
  • Home Affairs: 1.96
  • Chemicals and Fertilizers: 1.78
  • Agriculture and Farmer Welfare: 1.25
  • Communications: 1.23

Funds allocated for major schemes (in crore rupees)

  • Jal Jeevan Mission: 70,000
  • Pharmaceutical industry: 1,250
  • Eklavya Model Residential schools: 5,943
  • Pradhan Mantri Awas Yojana: 79,590
  • FAME: 5,172
  • North East Special Infrastructure Development Scheme: 2,491



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