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‘World should welcome it’: Jaishankar tweets on FM Sitharaman's Budget 2023
Budget 2023: Finance minister Nirmala Sitharaman presented the Narendra Modi government's last full budget before the 2024 Lok Sabha elections.
Union external affairs minister S Jaishankar on Wednesday hailed the Union budget presented by finance minister Nirmala Sitharaman. Backing the Narendra Modi government's last full budget before the 2024 Lok Sabha election, Jaishankar in a series of tweets said the world should welcome it.
Here are the 10 points listed by the external affairs minister in his tweet thread:-
1. "India as a strong engine of global growth: Capital investment outlay increased by 33% to ₹10 trillion (Now 3.3% of GDP)".
2. “Enhancing ease of doing business: Includes KYC process simplification, Greater GIFT IFSC activities and establishing an EXIM Bank subsidiary for trade re-financing, PAN as Common Business Identifier, Central Data Processing Centre, Indirect Tax support for manufacturing, stronger Ease of Compliance and Income Tax benefit for Startups”.
3. “Better logistics and infrastructure: Highest ever railways outlay at ₹240 billion, 100 critical transport infrastructure projects, 50 additional air connectivity projects and establishing Urban Infrastructure Development Fund”.
4. “Digital for development: Promoting greater digital payments, National Data Governance Policy, establishing Data Embassies, creating Entity DigiLocker, Centers of Excellence for AI and National Digital Library for children and adolescents”.
“Strengthening global food security: Making India Global Hub for Shree Anna (Millets), establishing massive decentralized storage capacity, promoting contribution of Cooperatives, increasing agriculture and fisheries credit, establishing Agriculture Accelerator Fund and building digital public infrastructure for agriculture".
6. “Ensuring global health security: Promoting Pharma R&D, ensuring HR for medical innovation & manufacturing, creating more medical research facilities and establishing 157 new nursing colleges.”
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7. “Indian participation in the global workspace: Expand opportunities through initiatives on skills and apprenticeship backed by National Apprenticeship Policy, stipend support to 4.7 million youth, creating 30 Skill India International Centres.”
8. “Focus on green growth and mobility: Investing in Energy Transition and Net Zero objectives, undertaking Green Hydrogen Mission,VGF support for Battery ESS and encouraging Lifestyle for Environment (LiFE). Also duty benefits for green mobility and renewable energy evacuation from Ladakh.”
9. “Stronger gender empowerment: Modi Government’s pro-women policy commits to taking 8.1 million Self-Help Groups of rural women to become enterprises and collectives.”
10. “Making India Tourism Ready: Focus on 50 destinations to be developed as complete package with digital support. India’s aspirations and targets are on a scale that will impact the world. Expect these developments to feature prominently in global conversations, including at G20”.
Finance minister Nirmala Sitharaman in her budget speech targeted a budget deficit of 5.9 per cent of the GDP and pegged a gross market borrowing at an estimated 15.43 trillion rupees. Her budget speech included five income tax announcements, the most important one being the increase in income tax rebate limit from ₹5 lakh to ₹7 lakh.
