News Karnataka
Tuesday, November 28 2023
Business News

Union Budget 2023-24: Big announcements

Nirmala Sitaraman
Photo Credit : IANS

New Delhi: Finance Minister Nirmala Sitharaman made several announcements in the Union Budget 2023-2024 on Wednesday.

Some highlights of the Budget:

* Railways get Rs 2.4 lakh crore, which is the highest ever allocation to it

* Agricultural credit target increased to Rs 20 lakh crore

* Mobility Infra — 50 additional airports, heliports

* 50 destinations to be selected through challenge mode for tourism

* Mahila Samman Savings Certificate will be made available for two years, deposits of up to Rs 2 lakh at 7.5 per cent interest

* Senior Citizens’ Savings Scheme deposit limit raised to Rs 30 lakh from Rs 15 lakh

* Income tax rebate limit increased from Rs 5 lakh to Rs 7 lakh under new tax regime

* Allocation for PM Awas Yojna increased by 66 per cent to over Rs 79,000 crore

* Capital investment outlay to be raised by 33 per cent to Rs 10 lakh crore, which will be 3.3 per cent of GDP in fiscal 2024

* Effective capital expenditure of centre to be – Rs 13.7 lakh crore

* 157 new nursing colleges in major locations

* Mission to eliminate sickle cell anaemia by 2047

* Tribals to get Rs 15,000 crore over next three years for safe housing, sanitation, drinking water, and electricity .

* Manhole to machine-hole mode — All cities and towns will be enabled for 100 per cent transition of sewers and septic tanks .

* Eklavya Model Residential Schools – 38,800 teachers will be hired

* Goal ‘Make AI in India’, ‘Make AI Work For India’ — three centres for excellence for AI will be set up in top educational institutes

* Rs 2,516 crore for Computerisation of 63,000 credit societies

* 100 labs to develop apps using 5g services to be set up in engineering institutions

* Rs 35,000 crore for energy transition to net-zero emission goals

* Green Hydrogen Mission for reduced dependence on fossil fuel

* Battery energy storage systems of 4000 MWh will be supported

* 39,000 compliances reduced for ease of doing business,

* 30 Skill India international centres to be set up

* Natural Farming – one crore farmers will get assistance

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