Politics

FM Sitharaman outlines Seven Priorities for the 'First Budget in Amrit Kaal'

Finance Minister Nirmala Sitharaman presented the Union Budget for FY 2023-24 on 1 February 2023. In her fifth Union budget, the Minister outlined the Union Government’s 7 priorities that would become India’s growth engine across various sectors of the economy.

The Minister stated that these priorities will act as “Saptarishi” that will drive the country throughout Amrit Kaal. These include;

– Inclusive Development

– Reaching the last mile

– Infra & Investment

– Unleashing the potential Green Growth

– Youth Power

– Financial Sector

Noting that all these seven priorities will complement each other, the Minister said India’s vision for the Amrit Kaal includes a technology-driven and knowledge-based economy with strong public finances and a robust financial sector. This could be achieved through Jan Bhagidari under the motto of Sabka Saath Sabka Prayas, she stated.

As per the Budget laid out by the Central government, the economic agenda to achieve this vision focuses on 3 things;

– Facilitating Ample opportunities for citizens, especially the youth to fulfil their aspirations.

– Providing strong impetus to growth and job creation

– Strengthening Macroeconomic stability.

Speaking on green growth, the Finance Minister said, “We are implementing many programs for green growth across various economic sectors which will help reduce carbon intensity and create green jobs.” The green growth priority envisages green fuel, green energy, green farming, and green mobility, which is in line with the pre-budget expectations shared by experts and industry leaders.

Towards empowering the Youth, the FM announced ‘Pradhan Mantri Kaushal Vikas Yojana 4.0’ which will work towards skilling the youth for international opportunities. Around 30 Skill India International Centres will be set up across different States, the Minister informed.

“The Indian economy is on the right track and heading towards a bright future. The country’s global profile is rising due to world-class digital infrastructure and proactive role in frontier areas,” the FM reinstated in her speech.

What is Amrit Kaal?

Amrit Kaal is symbolic of a 25-year period culminating in the centenary of India’s independence. In 2021, Prime Minister Narendra Modi used this term for the first time during the 75th Independence Day celebrations.

 

If you like this story then please support us by a contributing a small amount you are comfortable with.