Budget Speech PDF

Budget Speech in PDF download free from the direct link below.

PDF NameBudget Speech
No. of Pages58
PDF Size0.45 MB
LanguageEnglish
PDF CategoryGovernment
Source / Creditsindiabudget.gov.in
Uploaded ByPradeep
Budget Speech

Budget Speech - Summary

Finance Minister Nirmala Sitharaman presented her fifth straight budget on 1st February 2023, ahead of the next parliamentary elections in 2024. This budget is essential for the Modi 2.0 government as it lays down a roadmap for India’s future. The Minister emphasized key priorities like inclusive development, reaching the last mile, green growth, and youth empowerment. She stated: “Our vision for the Amrit Kaal includes a technology-driven and knowledge-based economy, with strong public finances and a robust financial sector.” It is crucial to achieve this “janbhagidari” through “sabka saath, sabka prayaas.”

The budget aims to build on the foundations set in previous budgets while also outlining a vision for India@100. The goal is to create a prosperous and inclusive India, where the benefits of development reach every corner, especially for the youth, women, farmers, OBCs, Scheduled Castes, and Scheduled Tribes.

Budget 2023 India – Key Features of Budget 2023-24

  • Under the new tax regime, there is no tax for income of Rs 0-3 lakh.
  • Income above Rs 3 lakh and up to Rs 6 lakh will be taxed at 5% under the new regime.
  • Income over Rs 6 lakh and up to Rs 9 lakh will be taxed at 10% under the new regime.
  • Income above Rs 12 lakh and up to Rs 15 lakh will be taxed at 20% under the new regime.
  • Income surpassing Rs 15 lakh will be taxed at 30%.
  • The fiscal deficit target for FY-2024 is set at 5.9% of GDP.
  • Capital spending outlay has been increased by 33% to 10 trillion rupees in 2023/24.
  • Cigarettes will become more expensive as the budget proposes a 16% hike in duty.
  • An agriculture accelerator fund will be established.
  • Increased budget allocation of 790 billion rupees for affordable housing in 2023/24.
  • Public capital expenditure is seen as key to attracting private investments.
  • The Indian economy is now the fifth-largest in the world, growing swiftly over the last nine years.
  • The budget upholds seven priorities, including inclusive and green growth.
  • The agricultural credit target is raised to 20 trillion rupees ($244.42 billion) for 2023/24.
  • Finance Minister stated that the economy is growing the fastest among major economies.

Budget Speech – Key Announcements 2023

  • The capital investment outlay is being increased by 33% to Rs 10 lakh crores, which would be 3.3% of GDP, as stated by FM Sitharaman.
  • An agriculture accelerator fund will support agritech startups developed by young entrepreneurs in rural areas, addressing farmers’ challenges with innovative solutions.
  • The government will introduce the Atmanirbhar Clean Plant Programme to enhance the availability of disease-free quality planting materials for high-value horticultural crops with an outlay of Rs 2,200 crore.
  • The PM Vishwa Karma Kaushal Samman will assist traditional artisans and craftspeople to improve the quality, scale, and outreach of their products, connecting them with the MSME value chain.

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