In the Budget 2023–24, Nirmala Sitharaman highlighted numerous new programmes for women, craftsmen, farmers, tribal members, lab-grown diamonds, and MSMEs, as well as expanded benefits for already-existing government programmes.
VIshwakarma, PM Samman, KAushal (PM VIKAS)
The PM VIshwakarma KAushal Samman programme offers financial support to artisans. With the new programme, craftsmen will be able to join the MSMEs value chain and expand the scope, calibre, and reach of their products.
Atmanirbhar Clean Plant Program for Horticulture
With an investment of Rs. 2,200 crore, the Atmanirbhar Clean Plant Programme would be implemented to increase the supply of high-value horticulture crops with quality and disease-free planting material.
Pharma Innovation Programme
The Financial Minister proposed in the Budget 2023 to start a new programme to support pharmaceutical innovation and research, which will be implemented through centres of excellence.
Aspirational Blocks and Districts Program
The government has started the Aspirational Blocks Programme, which will encompass 500 blocks and provide basic infrastructure, food and nutrition, health and agriculture, education and skill development, financial inclusion, and other critical government services.
Development Mission of Pradhan Mantri PVTG
To enhance the socioeconomic circumstances of the Particularly Vulnerable Tribal Groups, the Pradhan Mantri PVTG Development Mission will be introduced (PVTGs). With the help of our mission, families and habitations in PVTG will have access to essential amenities including safe housing, sanitary drinking water, healthy food, road and telecommunication connectivity, better access to education, and chances for sustainable livelihoods. For the next three years, the government would allocate Rs. 15,000 crore toward the execution of this aim.
Green Credit Program
To promote behavioural change, the Environment (Protection) Act will introduce the Green Credit Programme. It will encourage environmentally conscious and sustainable behaviour on the part of people, businesses, and local organisations while also assisting in the mobilisation of additional resources for such endeavours.
To encourage states and UTs to promote the balanced use of chemical fertilisers and alternative fertilisers, the PM-PRANAM PM Programme for Restoration, Awareness, Nourishment and Amelioration of Mother Earth (PM-PRANAM) will be introduced.
Ecosystems like the Amrit Dharohar Wetlands are essential to maintaining biological diversity. Through the Amrit Dharohar programme, the government will encourage locals' conservation attitudes toward wetlands. This plan will be put into action over the next three years in order to increase the carbon stock, biodiversity, chances for local communities to generate revenue through ecotourism, and promote the best possible use of wetlands.
Mahila Samman Bachat Patra
A one-time small savings programme called the Mahila Samman Savings Certificate will be offered for two years, or until March 2025. With a partial withdrawal option, it will provide deposit facilities up to Rs. 2 lakh in the name of women or girls for a two-year period at a fixed interest rate of 7.5%.
Revision in the Existing Government Schemes:
PM Garib Kalyan's Yojana (PMGKAY)
Under the PM Garib Kalyan Anna Yojana, a programme will be introduced to provide all priority and Antyodaya households with free food grains for the upcoming year (PMGKAY). This programme will go into effect on January 1, 2023. It provides for nutritional and food security, with the Central Government bearing the full cost of around Rs. 2 lakh crore.
National Rural Livelihood Mission and Deendayal Antyodaya Yojana
The National Rural Livelihood Mission and Deendayal Antyodaya Yojana were successful because they mobilised rural women to form 81 lakh Self Help Groups (SHGs). The creation of collectives or large producer firms, each with a number of members managed by professionals, will be a means by which the government enables the SHGs to go on to the next stage of economic empowerment. Through enabling regulations, they will be able to expand their operations in order to meet the needs of the vast consumer markets.
The PM Awas Yojana
The PM Awas Yojana's budgetary allocation increased by 66% to more over Rs. 79,000 crore in the Budget 2023.
Project Karmayogi
As part of Mission Karmayogi, the government has introduced the integrated online training platform iGOT Karmayogi in an effort to give government workers chances for ongoing learning and skill improvement.
Gobardhan plan
As part of the GOBARdhan (Galvanizing Organic Bio-Agro Resources Dhan) programme, 500 new "waste to wealth" facilities will be built. A total of Rs. 10,000 crore would be invested in these, which will include 300 community- or cluster-based plants and 200 compressed biogas (CBG) plants, including 75 plants in metropolitan areas.
Digital Skill India Platform
In order to connect with employers, including MSMEs, enable demand-based formal skilling, and make access to entrepreneurship programmes easier, a unified Skill India Digital platform would be introduced.
A national programme to promote apprenticeship
DBT, a pan-Indian programme for direct benefit transfers A three-year stipend programme called the National Apprenticeship Promotion Scheme will be introduced to support 47 lakh young people.
MSMEs Credit Guarantee Program
With effect from April 1, 2023, the government would reform the loan guarantee programme for MSMEs by the investment of Rs. 9,000 crore in capital. It will enable an extra Rs. 2 lakh crore of collateral-free guaranteed credit, and the cost of the credit will drop by roughly 1%.
Savings Scheme
The Senior Citizen Savings Scheme now allows deposits up to Rs. 30 lakh rather than Rs. 15 lakh. The maximum deposit amount under the Monthly Income Account Scheme would increase from Rs. 4.5 lakh for a single account to Rs. 9 lakh for a joint account, and from Rs. 15 lakh for a single account to Rs. 15 lakh.
Mantri Kaushal Vikas Yojana 4.0
Within three years, the Pradhan Mantri Kaushal Vikas Yojana 4.0 would be introduced to skill youth. The programme will cover modern courses for Industry 4.0, including soft skills, AI, coding, mechatronics, robotics, IoT, drones, and 3D printing. To prepare young people for opportunities abroad, 30 Skill India International Centers would be established.
Matsya Sampada Yojana of the PM
With an investment of Rs. 6,000 crore, the government would introduce a new sub-scheme under the PM Matsya Sampada Yojana to support the operations of fish merchants, fishermen, and micro and small businesses for enhancing value chain efficiency and growing the market.
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