33% to Rs 10 lakh crore increase in capital investment in outlay

The Centre has presented “highest-ever outlay”, nine times the outlay made in 2013-14, Finance Minister Nirmala Sitharaman, who presented Union Budget 2023-24 in Parliament, said. She also said the capital investment outlay has been increased by 33 per cent to Rs 10 lakh crore, which will account for 3.3 per cent of the GDP.

In a boost for states, the Finance Minister said that the 50-year interest-free loan to state governments will continue for a year more. The Budget 2023 focuses on seven priorities, which include inclusive development, reaching the last mile, infrastructure and investment, unleashing the potential, green growth, youth power and financial sector.

Speaking about the credit guarantee for MSMEs, Finance Minister Nirmala Sitharaman said that a revamped scheme will take place from April 1, 2023, with an allocation of Rs 9000 crore.

The government will launch Pradhan Mantri Kaushal Vikas Yojana 4.0, said FM Nirmala Sitharaman. In order to skill the youth for international opportunities, 30 Skill India International Centres will be set up across different States, she added.

Finance Minister Nirmala Sitharaman said: “The Agriculture Credit Target will be increased to Rs 20 lakh crore, with focus on animal husbandry, dairy, and fisheries, the minister said, adding that a new sub-scheme of PM Matsya Sampada Yojana will also be launched with a targeted investment of Rs 6,000 crore.”