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Budget 2023 reflects vision for next 25 years: UP CM Yogi Adityanath
Lucknow: Emphasizing that the Union Budget 2023-24 is inclusive, that includes all the sections of society, Uttar Pradesh Chief Minister Yogi Adityanath on Thursday said that the budget has a vision for the next 25 years.
Addressing a press conference, the Chief Minister said that in this budget work has been done to provide opportunities to every section of society. "This first budget of the 'Amrit Kaal' is one on the idea of a developed India. It is an inclusive budget, that includes all the sections of society. People from all walks of life have been given an opportunity in this Budget," said Adityanth.
He said that compared to the financial year 2013-14, the Railway Budget is nine times more this time.
"If we compare to the 2013-14 Indian Railway Budget, a provision of Rs 2.40 lakh crores has been made this time - 9 per cent more than that in 2013-14," said the UP CM.
He further said that this is a budget to realize the vision of a developed India.
The Chief Minister said that during COVID, in the last three years, over 80 crore people received benefits of PM Garib Kalyan Anna Yojana and this facility has been extended for one more year.
He said this is a budget for sustainable and inclusive development.
"As per Prime Minister Narendra Modi's vision, when the nation celebrates 100 years of freedom, every Indian would be able to say proudly that they're citizens of India - the biggest economic power. The most important aspect is that it (Budget) has a vision for the next 25 years," said the UP CM.
Yogi Adityanath said that Uttar Pradesh will get the maximum benefit of the budget.
The Chief Minister said that there is a proposal regarding the highway in Uttar Pradesh and the budget will work to realize the vision of the newly developed India.
The Union Budget 2023-24 holds the potential of fulfilling the expectations of the marginalised, youth and women.
"This is a budget to realize the vision of a developed India. Today the world is looking towards India with full of hope. The work has been done to provide opportunities to every section of society in the budget. This is a budget to benefit the last man," he added.
Referring to the seven priorities known as "Saptarishi" on which the Union Budget for the financial year (2023-24) has been prepared, the chief minister said through the 7 significant works India will become a developed nation. . There is a provision for green growth in the budget and UP is moving towards green growth.
The government describes Amrit Kaal as the 25-year period culminating in the centenary of India's independence.
Sitharaman mentioned seven priorities of the Budget: inclusive development, Reaching the last mile, Infrastructure and investment, Unleashing potential, Green growth, Youth Power, Financial Sector.
There are endless possibilities within Uttar Pradesh. The state is going to get the maximum benefit of the budget. Infrastructure, Green Revolution, skill development, rail network, highways, public welfare schemes will accelerate.
Meanwhile, Sitharaman on Wednesday announced an increase in the income tax rebate limit from Rs 5 lakh to Rs 7 lakh stating that the new tax regime will now be the default tax regime.
The Finance Minister also proposed to change the tax structure in this regime by reducing the number of tax slabs to 5 and increasing the tax exemption limit to Rs 3 lakh.
The government proposed to increase capital expenditure outlay by 33 per cent to Rs 10 lakh crore in 2023-24, which would be 3.3 per cent of the GDP, Union Finance Minister Nirmala Sitharaman said on Wednesday.
Further, the government proposed to increase the agricultural credit target to Rs 20 lakh crore with a focus on animal husbandry, dairy and fisheries, Sitharaman said. The agriculture sector of the country has been growing at an average annual growth rate of 4.6 per cent in the last six years.
Presenting the Union Budget 2023, Union Finance Minister Nirmala Sitharaman on Wednesday pegged the fiscal deficit target for 2023-24 at 5.9 per cent of gross domestic product (GDP).
The Finance Minister further said that the government intends to bring the fiscal deficit below 4.5 per cent of GDP by the financial year 2025-26. (ANI)