Union Budget 2023-24 Summary: Key Highlights
Increased Capital Expenditure, Focus on Infrastructure
In the Union Budget 2023-24 presented today, Finance Minister Nirmala Sitharaman announced a significant increase in capital expenditure, aiming to boost infrastructure development. The Capital Expenditure Outlay for FY 2024-25 has been increased by 111% to Rs 40,000 crores.
Vande Bharat Conversion and Digital Infrastructure
The budget also emphasizes the conversion of 2024 normal rail bogies into the Vande Bharat model, enhancing the railway infrastructure. Additionally, the budget stresses the development of all forms of infrastructure, including physical, digital, and Social Digital Public Infrastructure (DPI), to promote formalization and financial inclusion.
Sabka Saath, Sabka Vikas, Sabka Vishwas
The Finance Minister highlighted the government's commitment to the principles of "Sabka Saath, Sabka Vikas, and Sabka Vishwas" (together with all, development for all, and trust of all). The budget reflects a whole-of-nation approach of "Sabka Prayas" (everyone's effort) to achieve the desired outcomes.
Comments