Building a Stronger India: Key Initiatives of the 2023 Union Budget

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Here are some of the Union Budget's major highlights for 2023.

  1. To increase tourism, 50 new tourist destinations will be revitalized as a whole. States will be urged to build a "Unity Mall" in their state capital or the most well-known tourist attraction as part of the "Dekho Apna Desh Initiative."
  2. 19,700 crore will go toward the National Hydrogen Mission, which aims to produce 5 million tonnes of hydrogen by 2023.
  3. Under the new tax system, there is no tax on income up to Rs. 7 lakh per year. The non-taxable tax bracket has been increased to Rs. 3 lakh.
  4. In the central area, 157 new nursing colleges will be built.
  5. By 16%, cigarettes are now more expensive.
  6. 3 artificial intelligence (AI) centers of excellence are being established to "Make AI for India" and "Make AI work for India."
  7. The PM Awaas Yojana budget has been increased by 66% over 79,000 crores.
  8. 10 laboratories for creating 5G-enabled apps for all of the digital systems of the designated government entities.
  9. With the greatest ever railway outlay of Rs. 2.4 lakh crore, regional connection is made more cheap, and cargo logistics are improved.
  10. 50 more airports, helipads, water aerodromes, and advanced landing fields will be constructed to increase regional aviation connectivity.
  11. Additionally, the funds will be utilised to publicise and promote the "One District, One Product Scheme," which aims to increase sales of GI products and locally distinctive handicrafts from every state.
  12. The Indian government would be responsible for paying the estimated 2 lakh crore ($2 trillion) cost of this plan expansion. According to reports, this scheme has benefited around 80 crore poor people. 5 kg of free food grains will be given to each eligible person.
  13. Private helicopters, gold, and diamond jewellery all increase in price.
  14. The budget for this year accounts for a decreased pace of food price rise. 3.5% was the inflation rate for the 2022 fiscal year.
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