On Wednesday, Nirmala Sitharaman, the minister of finance, delivered the general budget to Parliament for the fiscal years 2023-24. An image of the long jump resolution in Amrit Kaal was shown in this. Sitharaman presented a budget of Rs 45.03 lakh crore, which is 5.58 lakh crore more than last year. The general budget was divided into seven priorities, which is called SAPTARISHI in budget, by the finance minister as shown below.

Even in the final complete budget before the elections, the administration opted to highlight the economy rather than make populist statements. The government made an attempt to put more money in the hands of the people to spend. Additionally, capital spending has been raised to stimulate economic activity. New initiatives and infrastructure for tourism are included in the budget, according to the Union Finance Minister. Additionally, revelations on the development of the economy will probably get stronger as a result of this. The administration has attempted to accomplish several goals at once during an election year. All classes, including impoverished farmers, young people, women, older citizens, professionals, and businesspeople, have received some respite as a result of the budget announcements, the largest budgetary increases for the railroad and the defense sectors, with a focus on green growth and the promotion of innovative technology in agriculture

Budget and Middle Class

The middle class has received special consideration in the budget. By altering the income tax rates after eight years, the scope of tax exemption has been broadened. The Senior Citizens Savings Plan’s reach has also expanded. For women, a new ₹2,00,000 savings plan has been introduced.

Budget and Technological Development

In order to make India a leader in the new 5G technology, it has been announced in the budget to set up 100 mobile app labs. Old as well as new businessmen will get the benefit of this. Special focus on employment generation, the scope of Pradhan Mantri Kaushal Vikas Yojana has been further increased in the budget to increase India’s reach in the employment being generated globally. Under this, youth and workers will be trained with new generation skills. This includes Artificial Intelligence, Robotics, the Internet of Things, 3D Printing, Courses like drones and soft skills will be included.

Budget and Capital Investment

It has been said in the budget that in the last 9 years the per capita income has doubled to ₹1.97 Lahks. Finance Minister Nirmala Sitharaman said that a capital investment of ₹10,00,000 Crore would be made in the development schemes. The fiscal deficit is estimated to be 5.9% of GDP in the next financial year.