Lok Shakti

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Budget 2023-24 : Golden Era in India’s Economy

The Indian Union Budget for 2023-24 has been announced, and it promises to be a turning point in the economic history of the country. The budget has been designed to bring about a golden era in India’s economy, with the government focusing on various sectors such as infrastructure, health, education, and technology.

The total budget outlay for 2023-24 is estimated to be around Rs. 43.3 lakh crore, with a major chunk of it going towards infrastructure development. The government has earmarked over Rs. 5 lakh crore for infrastructure development, including highways, railways, and airports. This is expected to boost economic growth and create employment opportunities.

The budget also focuses on the health sector, which has been a priority for the government since the outbreak of the COVID-19 pandemic. The government has allocated Rs. 3.05 lakh crore to the health sector, which is an increase of almost 18% from the previous year. This funding will be used to strengthen healthcare infrastructure, including the setting up of more hospitals and healthcare facilities across the country.

Another significant aspect of the budget is its focus on education. The government has allocated Rs. 1.5 lakh crore for education, including the implementation of the new National Education Policy. The budget also provides for the establishment of a Higher Education Commission of India, which will oversee the functioning of higher education institutions in the country.

The budget also has a strong emphasis on technology, with the government allocating over Rs. 8,000 crore for the development of new technologies such as Artificial Intelligence, Quantum Computing, and the Internet of Things. This will help in creating a digital ecosystem in the country and boost innovation and entrepreneurship.

The budget also provides for the launch of several new schemes, including the Pradhan Mantri Aatmanirbhar Swasth Bharat Yojana, which aims to strengthen healthcare infrastructure in the country. The budget also includes the launch of a new scheme for the development of tribal areas, with an allocation of Rs. 12,000 crore.

The government has also announced several measures to boost employment, including the establishment of a National Recruitment Agency for recruitment to non-gazetted posts in the government sector. The budget also provides for the setting up of new manufacturing zones, which are expected to create millions of new jobs.

In conclusion, the Indian Union Budget for 2023-24 is a forward-looking budget that is focused on creating a golden era in India’s economy. The budget is designed to boost economic growth, create employment opportunities, and improve the standard of living for the people of India. With its emphasis on infrastructure, health, education, technology, and employment, the budget is expected to transform the country’s economic landscape and help India emerge as a major global economic power.