NEW DELHI: Union Budget 2023-24 presented by Nirmala Sitharaman, Union Minister of Finance in the Parliament outlined the vision of Amrit Kaal which shall reflect an empowered and inclusive economy. “We envision a prosperous and inclusive India, in which the fruits of development reach all regions and citizens, especially our youth, women, farmers, OBCs, Scheduled Castes and Scheduled Tribes,” she said.

Union Finance Minister highlighted that “Our vision for the Amrit Kaal includes technology-driven and knowledge-based economy with strong public finances, and a robust financial sector.” To achieve this, Jan Bhagidari through Sabka Saath Sabka Prayas is essential, she added.

Noting that the Deendayal Antyodaya Yojana National Rural Livelihood Mission has achieved remarkable success by mobilizing rural women into 81 lakh Self Help Groups (SHGs), Union Finance Minister stated that “We will enable these groups to reach the next stage of economic empowerment through formation of large producer enterprises or collectives with each having several thousand members and managed professionally. They will be helped with supply of raw materials and for better design, quality, branding and marketing of their products.” Through supporting policies, they will be enabled to scale up their operations to serve the large consumer markets, as has been the case with several start-ups growing into ‘Unicorns’, she added.  

She announced a new scheme for the traditional artisans and craftspeople, generally referred to as Vishwakarma.  Noting that the art and handicraft created by them represent the true spirit of Atmanirbhar Bharat, for the first time, a package of assistance for them has been conceptualized.

Underlining the immense tourism potential the country offers for domestic as well as foreign tourists, Union Finance Minister stated that “The sector holds huge opportunities for jobs and entrepreneurship for youth in particular and there is a large potential to be tapped in tourism.” She announced that promotion of tourism will be taken up on mission mode, with active participation of states, convergence of government programmes and public-private partnerships.

She emphasized the focus of the Government on green growth efforts that help in reducing carbon intensity of the economy and provides for largescale green job opportunities.  She noted that “We are implementing many programmes for green fuel, green energy, green farming, green mobility, green buildings, and green equipment, and policies for efficient use of energy across various economic sectors.”

A key theme of Union Budget 2023-24 is the focus on inclusive development. Nirmala Sitharaman pointed out “The Government’s philosophy of Sabka Saath Sabka Vikas has facilitated inclusive development covering in specific, farmers, women, youth, OBCs, Scheduled Castes, Scheduled Tribes, divyangjan and economically weaker sections, and overall priority for the underprivileged (vanchiton ko variyata).” There has also been a sustained focus on Jammu & Kashmir, Ladakh and the North-East. This Budget builds on those efforts, she highlighted.