New Delhi: Union Finance Minister Nirmala Sitharaman on February 10 rejected the Opposition allegation that food subsidy has been reduced in the Budget 2023-24. She also told Parliament that the Budget brings
more futuristic opportunities for the country’s youth. She stated that the total resources being transferred to the states is estimated at 17.98 lakh crore rupees, which is considerably higher than the last two years.
Replying to the discussion on the Budget in Lok Sabha, the Minister said the food subsidies had been almost doubled to Rs 1.97 lakh crore. Nirmala Sitharaman also said that the fertilizer subsidy had been raised to Rs
2.25 lakh crore rupees for the current fiscal. She said the agriculture credit target for 2023-24 has also been increased to Rs 20 lakh crore.
The Finance minister said in this Budget, the Government has tried to balance the requirement of India’s development imperatives within the limit of fiscal prudence. She said by taking pre-emptive measures,
the centre has been able to return to the realm of the tolerance band.
The Consumer Price Index came down to below six per cent level. She said the new tax regime had been made very attractive.
She said the Government chose the ‘capex route’ to revive the economy as it has a great multiplier effect. She asserted that India is still the fastest-growing major economy and will continue to be so.
Nirmala Sitharaman also said that the new tax regime, which offers a rebate on annual income of up to Rs 7 lakh, will leave higher disposable income in the hands of people.
In Rajya Sabha, FM Sitharaman said this year’s Budget brings in more futuristic opportunities for the country’s youth.
The Finance Minister said the Budget has a lot of provisions for the middle class, employment generation, MSMEs, agriculture, rural population, health and green growth. She said Pradhan Mantri Gareeb
Kalyan Anna Yojana has been instrumental in keeping poverty low.
The Finance Minister also said that India’s inflation is now lower than that of the UK and Germany at 9.2 per cent and 8.5 per cent, respectively.
She said the centre reduced excise duty on diesel and petrol, prohibited wheat export, put a stock limit on edible oils, and imposed an export duty on rice.
During the Budget session, the recess will be from February 14 to March 12 to enable the department-related Parliamentary Standing Committees to examine the demands for grants and make reports relating to their Ministries/ Departments.