BUDGET 2023-2024 | Minister of Finance | NIRMALA SITHARAMAN

Budget 2023-2024
Speech of
Nirmala Sitharaman
Minister of Finance
February 1, 2023
Hon’ble Speaker,
I present the Budget for 2023-24. This is the first Budget in Amrit

BUDGET 2023-2024
1. This Budget hopes to build on the foundation laid in the previous
Budget, and the blueprint drawn for India@100.

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.

2. In the 75th year of our Independence, the world has recognised the
Indian economy as a ‘bright star’. Our current year’s economic growth is
estimated to be at 7 per cent. It is notable that this is the highest among all
the major economies.

BUDGET 2023-2024 | Minister of Finance | NIRMALA SITHARAMAN

This is in spite of the massive slowdown globally
caused by Covid-19 and a war. The Indian economy is therefore on the right
track, and despite a time of challenges, heading towards a bright future.

3. Today as Indians stands with their head held high, and the world
appreciates India’s achievements and successes, we are sure that elders
who had fought for India’s independence, will with joy, bless us our
endeavors going forward.

Resilience amidst multiple crises

4. Our focus on wide-ranging reforms and sound policies, implemented
through Sabka Prayas resulting in Jan Bhagidari and targeted support to
those in need, helped us perform well in trying times. India’s rising global

Latest New BUDGET 2023-2024 | Minister of Finance | NIRMALA SITHARAMAN

profile is because of several accomplishments: unique world class digital
public infrastructure, e.g., Aadhaar, Co-Win and UPI; Covid vaccination drive
in unparalleled scale and speed; proactive role in frontier areas such as
achieving the climate related goals, mission LiFE, and National Hydrogen

5. During the Covid-19 pandemic, we ensured that no one goes to bed
hungry, with a scheme to supply free food grains to over 80 crore persons
for 28 months.

BUDGET 2023-2024 | Minister of Finance | NIRMALA SITHARAMAN

Continuing our commitment to ensure food and nutritional
security, we are implementing, from 1st January 2023, a scheme to supply
free food grain to all Antyodaya and priority households for the next one
year, under PM Garib Kalyan Anna Yojana (PMGKAY). The entire
expenditure of about ` 2 lakh crore will be borne by the Central

G20 Presidency: Steering the global agenda through challenges

6. In these times of global challenges, the G20 Presidency gives us a
unique opportunity to strengthen India’s role in the world economic order.

Latest BUDGET 2023-2024 | Minister of Finance | NIRMALA SITHARAMAN

With the theme of ‘Vasudhaiva Kutumbakam’, we are steering an
ambitious, people-centric agenda to address global challenges, and to
facilitate sustainable economic development.
Achievements since 2014: Leaving no one behind

7. The government’s efforts since 2014 have ensured for all citizens a
better quality of living and a life of dignity. The per capita income has more
than doubled to ` 1.97 lakh.

Budget 2023-2024
8. In these nine years, the Indian economy has increased in size from
being 10th to 5th largest in the world. We have significantly improved our
position as a well-governed and innovative country with a conducive
environment for business as reflected in several global indices. We have
made significant progress in many Sustainable Development Goals.

9. The economy has become a lot more formalised as reflected in the
EPFO membership more than doubling to 27 crore, and 7,400 crore digital
payments of ` 126 lakh crore through UPI in 2022.

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Budget 2023-2024
Budget 2023-2024

10. The efficient implementation of many schemes, with
universalisation of targeted benefits, has resulted in inclusive development.
Some of the schemes are: jobskullad.com

i. 11.7 crore household toilets under Swachh Bharat Mission,
ii. 9.6 crore LPG connections under Ujjawala,
iii. 220 crore Covid vaccination of 102 crore persons,
iv. 47.8 crore PM Jan Dhan bank accounts,
v. Insurance cover for 44.6 crore persons under PM Suraksha
Bima and PM Jeevan Jyoti Yojana, and
vi. Cash transfer of ` 2.2 lakh crore to over 11.4 crore farmers
under PM Kisan Samman Nidhi.

Credit by govt of india 

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