Lagatar24 Desk
New Delhi, Feb 1: Highlights of the Budget 2023 so far:
Energy
- Outlay of Rs 35,000 cr for energy transition investment
- Battery energy storage with capacity of 400 MWH will be supported with viability gap funding
- Target to reach green hydrogen production of 5MMT by 2030
- Outlay of Rs 20,700 crore for renewable energy plan in Ladakh
Data governance
- Govt to bring National Data Governance policy
- National Data Governance Policy will enable anonymised data; KYC process will be simplified by adopting risk-based system
- PAN will be used for common identifier for all digital systems of specified government agencies
5G
- Finance Minister announces to set up 100 labs to develop 5G applications
Govt reforms
- PM Awas Yojana outlay hiked by 66 per cent to Rs 79,000 cr
- To improve social-economic condition of the Particularly Tribal Groups, PMPBTG Development mission will be launched, to saturate PBTG habitations with basic facilities. Rs 15,000 cr to be made available to implement scheme in next 3 years
- Pradhan Mantri Primitive Vulnerable Development Commission being launched; Rs 15,000 cr earmarked for next 3 years
Agri-reforms
- The Union Government’s focus on reforming the agriculture sector continues, after its legal reforms had to be repealed.
- The Budget envisages an open-source digital infrastructure for agriculture and an agriculture accelerator fund focused on youth in rural areas.
- These steps will help the nascent agri-tech industry and could help boost the sector which still employs nearly half of the country’s workforce.
- Agriculture credit target increased to Rs 20 trillion for FY’24, with focus on animal husbandry, dairy and fisheries
Govt programmes
- We have made significant progress in many Sustainable Development Goals (SDGs)
- Govt made cash transfer of Rs 2.2 lakh crore under PM-KISAN
- National Rural Livelihood Mission has achieved remarkable success by mobilising rural women into 1 lakh SHGs
- Govt to launch a Rs 2,200 crore Aatmanirbhar clean plan programme
Pharma and healthcare
- New programme to promote research in pharmaceuticals
- Facilities in select ICMR labs will be made available for research by public and private medical faculties.
- Mission to eliminate sickle cell anaemia by 2047 will be launched by the government. This will entail awareness creation, universal screening of 7 crore people in the age group of 0-40 years in tribal areas and collaborations between central institutions and state governments
Urban development
- Will invest Rs 10,000 cr/year on Urban Infra Development fund
- Will set up 50 additional airports, heliports, aerodromes
Green Growth
- Green growth would be one of the priorities of the budget.
- We are implementing many programmes for green growth across various economic sectors. They will help reduce carbon intensity and create green jobs.
MSMEs
- Rs 9,000 cr corpus for revamped credit guarantee scheme, revamped credit guarantee scheme will be effective April 1, 2023
- If MSMEs fail to execute contract, 95 percent of performance security will be returned to small business as part of Vivad Se Vishwas
- Govt to bring another dispute resolution scheme under Vivad Se Vishwas-2 to settle commercial disputes
AI
- Three centres of excellence for artificial intelligence will be set up in top educational institution
Auto and shipping
- Funds allocated to scrap old vehicles, including old ambulances
- 5% compresses bio gas mandate to be introduced in due course
- Coastal Shipping will be promoted with viability gap funding for people and freight movement
PM Awas Yojana
Outlay hiked by 66 pc to Rs 79,000 cr
