Budget 2023: Budgetary Allocations To Major Social Schemes
The Narendra Modi administration's final comprehensive budget before the 2024 general elections was delivered on February 1 by Finance Minister Nirmala Sitharaman . The Minister revealed a variety of fresh programs, revised income tax brackets and customs duty rates, as well as concessions for farming and the switch to green energy. In the Union Budget 2023–24 paper, increasing financing for important social programs that assist socio-economic progress was also emphasized. Here is an overview of how the budgetary allotments for some of the key initiatives have changed: Budget 2023: Budgetary Allocations To Major Social Schemes 1. MGNREGS: The government significantly cut the funding for the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) compared to the 89,400 revised estimate for the current year. The Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) was passed in 2005 with the goal of enhancing the livelihood security of households i...