Budget 2023 : Overall economic development budget – mssewb.org

Sanjeev Bajaj, President, CII
Ahead of the polls, the Center has taken a number of steps in the last budget, which will not only prepare the Indian economy for future storms, but also pave the way for overall growth.

Like other years, the Narendra Modi government at the Center has set targets on infrastructure and investment in the 2023-24 budget. We welcome the 33.4 per cent increase in capital expenditure allocation for various infrastructure projects to Rs 10 lakh crore compared to the last budget. The Confederation of Indian Industry’s (CII) budget largely met earlier recommendations. Along with this, states’ decision to go ahead with 50-year interest-free loans for infrastructure investment and the all-time allocation of Rs 2.4 lakh crore for railways must be lauded. This decision of the Center will have a positive impact on other industries in the country.

The proposal to create a Rs 10,000 crore Urban Infrastructure Development Fund for infrastructure development in medium and small cities in India will ensure equal access to people from all sections of the economy. Through this year’s budget, the government has again emphasized on overall development and growth. Seven fields have been selected on a priority basis for ‘Amrita Kal’. Through projects like PM Kaushal Vikas Yojana 4.0, the Center aims to empower the country’s youth and reach out to the marginalized. This project will train lakhs of boys and girls in subjects like coding, artificial intelligence, robotics, 3D printing to create a skilled workforce.

The Center has announced the PM Vishwakarma Kaushal honor package to take forward the family business of handicrafts, especially to help the people of various tribes who are in distress. The announcement of this scheme to financially empower the backward and marginalized sections of the society is undoubtedly commendable.

Leave a Comment