Full Budget Speech by Finance Minister Nirmala Sitharaman for FY 23-24

New Delhi (01/02/2023):Full Budget Speech by Finance Minister Nirmala Sitharaman for FY 23-24

Introduction

1. This Budget hopes to build on the foundation laid in the previous
Budget, and the blueprint drawn for India@100. We envision a prosperous
and inclusive India, in which the fruits of development reach all regions and
citizens, especially our youth, women, farmers, OBCs, Scheduled Castes and
Scheduled Tribes.

2. In the 75th year of our Independence, the world has recognised the
Indian economy as a ‘bright star’. Our current year’s economic growth is
estimated to be at 7 per cent. It is notable that this is the highest among all
the major economies. This is in spite of the massive slowdown globally
caused by Covid-19 and a war. The Indian economy is therefore on the right
track, and despite a time of challenges, heading towards a bright future.

3. Today as Indians stands with their head held high, and the world
appreciates India’s achievements and successes, we are sure that elders
who had fought for India’s independence, will with joy, bless us our
endeavors going forward.

Resilience amidst multiple crises

4. Our focus on wide-ranging reforms and sound policies, implemented
through Sabka Prayas resulting in Jan Bhagidari and targeted support to
those in need, helped us perform well in trying times. India’s rising global

profile is because of several accomplishments: unique world class digital
public infrastructure, e.g., Aadhaar, Co-Win and UPI; Covid vaccination drive
in unparalleled scale and speed; proactive role in frontier areas such as
achieving the climate related goals, mission LiFE, and National Hydrogen
Mission.

5. During the Covid-19 pandemic, we ensured that no one goes to bed
hungry, with a scheme to supply free food grains to over 80 crore persons
for 28 months. Continuing our commitment to ensure food and nutritional
security, we are implementing, from 1st January 2023, a scheme to supply
free food grain to all Antyodaya and priority households for the next one
year, under PM Garib Kalyan Anna Yojana (PMGKAY). The entire
expenditure of about ` 2 lakh crore will be borne by the Central
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