Indian equity benchmarks rose sharply in Wednesday’s trade as Finance Minister Nirmala Sitharaman began her Union Budget 2023-24 speech. The 30-share BSE Sensex pack climbed 605 points or 1.02 per cent to trade at 60,155, while the broader NSE Nifty index moved 149 points or 0.85 per cent to trade at 17,811.
In her fifth Budget presentation, Sitharaman said the world has recognised the Indian economy as a bright star. This is the first Budget to be presented in Amrit Kaal (the Golden period of Independence), the finance minister noted.
“Entire expenditure (around Rs 2 lakh crore) under PM Garib Kalyan Anna Yojana is being borne by the government, for supplying free food grains for one year to all Antyodaya and priority households,” she stated.
She mentioned that an agriculture accelerator fund would be set up for agri start-ups which run from rural areas.
“PM Vishwa Karma Kaushal Samman – package of assistance for traditional artisans and craftspeople has been conceptualized, will enable them to improve quality, scale and reach of their products, integrating with MSME value chain,” she said.
Components of the scheme would include financial support, access to efficient green technologies, advanced skill training, social security, modern digital techniques, brand promotion and market linkages, she added.
Sitharaman further said, “We are implementing many programs for green fuel, green energy, green farming, green mobility, green buildings, green equipment, and creating policies for efficient energy use across various economic sectors.”
The finance minister cited seven priorities of Budget 2023: Inclusive development; Reaching last mile; Infrastructure and investment; unleashing potential; Green growth; Youth Power and Financial Sector.
Sitharaman also stated that the outlay of PM Awas Yojana has been increased 66 per cent to Rs 79,000 crore.
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