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Budget 2023 lays foundation for a developed India, says PM Modi

Prime Minister Narendra Modi extends greetings on International Women's Day

Prime Minister Narendra Modi on Wednesday hailed the “first budget of Amrit Kaal” and said that it would lay a strong foundation for building a developed India.

“The first budget of Amrit Kaal will lay a strong foundation for building a developed India. It gives priority to the deprived. This budget will fulfil the dreams of an aspirational society including poor people, farmers and the middle class. I congratulate Nirmala Sitharaman and her team for this historic budget,” the Prime Minister said in a televised address.

Noting that the PM Vishvakarma Kaushal Samman scheme will bring a huge change in the lives of Vishvakarmas (skilled workers), the Prime Minister said that for the first time schemes relating to their support has been incorporated into the budget.

“Those toiling traditionally through their hands for the country, Vishvakarmas are the creators of this country. For the first time scheme related to training and support for Vishvakarma has been brought into the budget. Preparations have been made for their training, technology, credit and market support. PM Vishvakarma Kaushal Samman means PM Vikas will bring about a huge change in the lives of crores of Vishwakarmas,” the Prime Minister said.

Prime Minister Modi highlighted the government’s efforts to empower women.

“The government has taken several steps to make the lives of women, in rural and urban areas, easy. Women’s self-help groups will further enhance their quality of life. Special savings scheme will be started empowering women in households,” PM Modi said.

Finance Minister Nirmala Sitharaman presented the Union Budget 2023 today in Lok Sabha. The highlights included tax concessions to give relief to the middle class.  The exemption limit for paying tax has been raised from Rs 5 lakh to Rs 7 lakh and the new tax regime will be the default tax regime, the Finance Minister said.

The capital expenditure outlay for big infrastructure projects has been increased by 33 per cent to Rs 10 lakh crore, accounting for 3.3 per cent of GDP. This includes investments for highways, ports and railways.