Gujarat Budget 2023 Highlights: Finance Minister Kanu Desai presents Rs 3.01 lakh crore budget; Details

The Finance Minister of Gujarat, Kanubhai Desai, delivers the budget for fiscal years 2023–24. The budget expenditure is 23.38 per cent greater than last year. Desai, who proposed a budget of 3,01,021,61 crore, promised that no additional taxes would be levied.  1.91 lakh crore have been budgeted for “development expenditures,” while 1.04 lakh crore will be spent on “non-developmental expenditures.”

The Budget 2023-24 proposes a multitude of schemes and projects, some of which were promises made by the BJP in its manifesto ahead of the 2022 elections, such as doubling the insurance coverage under the Pradhan Mantri Jan Arogya-MA (PMJAY-MA) scheme to Rs 10 lakh from Rs 5 lakh and providing two free gas cylinders per year to beneficiaries of the Ujjwala scheme.

• VAT in PNG and CNG is cut from 15 per cent to per cent.
• In Gujarat, the first female SRP battalion will be formed.
• Allocation of Rs 215 crore for the development of airports and airstrips
• Phase-II of the Ahmedabad Metro would receive Rs 18,000 crore.
• The Government has proposed to increase the annual insurance limit for eligible families under the
• Pradhan Mantri Jan Arogya-MA scheme to 10 lakh from the current 5 lakh.
• 150 new centers would give meals for Rs 5 to laborers.
• 20,000 new computer laboratories will be installed in schools.
• New classrooms will be added to existing schools.
• Gujarat will increase its contribution of renewable energy to 42 per cent of total power generation.
• Several measures have been implemented to enhance investments in agriculture, fishing, and animal husbandry. In the next five years, Rs 2 lakh crore will be spent to stimulate economic activity in the agricultural, industrial, and service sectors.
• The semiconductor industry is anticipated to attract investments totaling Rs 1.5 lakh crore.
• The development of textile, ceramic, and bulk drug parks in Gujarat would increase industry and improve infrastructure assistance.
• Five tourist destinations will be developed. In fewer than four years, the number of visitors to the Statue of Unity has surpassed one crore. The development of five tourist destinations, including SOU, Ambaji, Dharoi, Gir-Somnath, and Dwarka Shivrajpur Beach, will cost Rs 8,000 crore. Concentrate on expanding heritage tourism. The Yatradham Corridor will be built to increase tourism in Dwarka.
• GIFT City is on the verge of replacing Mumbai as the financial center of India. Desai also announced the establishment of a financial technology cluster in GIFT City with the assistance of the Asian Development Bank of the Philippines. During the budget process, an allocation of 76 crore was recommended for the ambitious GIFT City.
• In Gujarat, 400 Gyan Setu Schools will be established, and Rs 64 billion will be allocated.
• A monetary allocation of Rs 250 crore has been made towards the construction and modernisation of Science City.
• Vijbill Protsahan Nidhi will be established to assist municipalities in paying their energy bills; 100 crore rupees have been allocated for this purpose.
• Allocation of Rs 1500 crore to enable farmers to purchase microirrigation equipment
• In addition to its other pledges, the government declared that beneficiaries of the Ujjwala scheme will receive two free gas cylinders per year.
• At a cost of Rs 1,500 crore, five state highways with considerable traffic, including the Rajkot-Bhavnagar route, will be built into high-speed lanes.
• The Gujarat government also announced plans to establish sports complexes in each district and taluka in the state, giving sports a significant boost.
• Under the Pradhan Mantri Awas Yojana, Rs 1,066 crore will be spent to provide homes for around one lakh people (urban).
• Annual school vouchers of Rs. 20,000 are available for diligent students who have completed the RTE programme through the eighth grade.
• The allocation of Rs 905 crore for metro projects in Ahmedabad and Surat
• The development of the Sardar Sarovar Dam project on the River Narmada will cost 5,950 crore rupees.
• This includes Rs. 10,822 crore for the remaining Kutch Branch Canal construction activities (KBC). With more than 60,000 kilometers of canals, the KBC is regarded as the country’s greatest irrigation project.
• A budget allocation of Rs. 200 crore covers the equity contribution to the PM Gati Shakti Ahmedabad–Mumbai Bullet Train Project.