Tag: Finance Minister Nirmala Sitharaman

I Am Aware Of The Issues Of Middle Class: Sitharaman

Budget 2023: Allocation For PM Awas Yojana Raised By 66%

By LokMarg

The outlay for Prime Minister Awas Yojana (PMAY) has been enhanced by 66 per cent to over Rs 79,000 crores, announced Finance Minister Nirmala Sitharaman while presenting the Union Budget 2023-24 in Parliament on Wednesday.

This is a significant increase considering Sitharaman, in the Budget 2022-23, had proposed an allocation of Rs 48,000 crore for the Housing for All initiative of the government.
This year’s budget is significant being the last full budget of Modi government’s second tenure as the general elections are scheduled for next year.

The government, last year, had promised that 80 lakh houses will be completed for the identified eligible rural and urban beneficiaries of PMAY.

Union Finance Minister Nirmala Sitharaman presented the Union Budget 2023-24 in the Parliament on Wednesday.

The Finance Minister announced that the government proposes to increase capital expenditure outlay by 33 per cent to Rs 10 lakh crore in 2023-24, which would be 3.3 per cent of the GDP, said Union finance minister Nirmala Sitharaman.

“(This overall outlay) would be 3.3 per cent of GDP, almost three times the outlay made in 2019-20. With the substantial increase, it is central to the government’s efforts to enhance growth potential and job creation, the crowd in private investments and provides a cushion against global headwinds,” Sitharaman said in her Budget speech.

For the agriculture sector, which is said to be the backbone of Indian economy, the government has proposed to increase the credit target to Rs 20 lakh crore with a focus on animal husbandry, dairy and fisheries. The country’s agriculture sector has been growing at an average annual growth rate of 4.6 per cent in the last six years, Sitharaman told Parliament.

The government will also launch a sub-scheme of the existing PM Matsya scheme to improve value chain efficiencies, she said.

Pradhan Mantri Awas Yojana – Urban (PMAY-U), a flagship Mission of Government of India launched in 2015, is being implemented by Ministry of Housing and Urban Affairs (MoHUA), aims to provide housing for all including the slum dwellers.

According to a government data, out of the overall target of 2.95 crore houses, a target of 2.92 crore houses had been allocated to States/Union Territories UTs), out of which, 2.49 crore houses have been sanctioned to beneficiaries by various States/UTs and 2.10 crore houses have been completed as on December 07, 2022.

The Economic Survey, tabled in the Parliament on Tuesday, noted India’s GDP is expected to grow in the range of 6 to 6.8 per cent in the coming financial year 2023-24. This is in comparison to the estimated 7 per cent this fiscal and 8.7 per cent in 2021-22. (ANI)

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Finance Minister Nirmala Sitharaman

All-Party Meet In Parliament Begins, Cong Leaders Absent

By LokMarg

An all-party meeting called by the government ahead of the Budget Session of Parliament commenced on Monday morning.
Deputy Leader of the House, Rajnath Singh, Parliament Affairs minister, Pralhad Joshi, Leader of the House, Piyush Goyal, MoS, Parliamentary Affairs, Arjuna, Ram Meghwal, and V Muraleedharan was among those present for the meeting held at the Parliament House Complex.

All top leaders from the opposition parties including DMK leader, TR, Balu, TMC leaders, Sudip Bandyopadhyay and Sukhendu Sekhar Ray, TRS leaders K Keshava Rao and Nama Nageswara Rao were in attendance.

Other party leaders who were present include Vijayasai Reddy from the YSR Congress, Farooq Abdullah from the National Conference, Professor Manoj Jha from the RJD, and Ram Nath Thakur of JDU. Shiv Sena (Uddhav Thackeray) was represented by Priyanka Chaturvedi.

Congress leaders were absent from the meeting, however, according to government sources both Mallikarjun Kharge and Adhir Ranjan Chowdhury held up due to the ongoing Bharat Jodo Yatra that culminated in Srinagar today.

The all-party meeting is a customary meeting that takes place ahead, of the start of every session of Parliament. During the meeting, the Government will seek cooperation from all political parties to ensure the smooth functioning of both Houses of Parliament during the Session.

The Budget Session of Parliament will commence on January 31 with the address by the President of India to a Joint sitting of both Lok Sabha and Rajya Sabha in the Central Hall of Parliament.

The Economic Survey will also be tabled in both Houses on the first day of the Session.

The Union Budget 2023-24 will be presented on February 1 by Finance Minister Nirmala Sitharaman in Lok Sabha. Later the Budget will be tabled in Rajya Sabha.

From Thursday onwards, both Houses will have a discussion on the “Motion Of Thanks to the President Address” after which PM Narendra Modi will reply in both Lok and Rajya Sabha.

This part of the Budget Session will continue till February 13.

The second part of the Budget Session will after a recess commence on March 13 and go on till April 6. A discussion will take place on the Demand For Grants for various ministries and the Union Budget will be passed. Other legislative businesses will also be taken up by the government during this period. (ANI)

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