Nirmala Sitharaman to Present Union Budget 2023 Today, What Industries Expect From Modi Govt 2.0’s Last Full Budget

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With the Lok Sabha elections scheduled for April-May 2024, this Budget holds special significance. Union Finance Minister Nirmala Sitharaman will present the Union Budget 2023-24 in Parliament today which will be the last full Budget of the Modi government in its second term.

Union Budget 2023-24 will be presented today in Parliament by Union Finance Minister Nirmala Sitharaman. With the Lok Sabha polls scheduled to take place in April-May 2024, this Budget holds special significance. On Tuesday (January 31), the budget session of the Parliament began with President’s address and Sitharaman then tabled the Economic Survey for the Financial Year 2022-23. This year’s budget session is going to have 27 sittings till April 6 with a month-long recess to examine the budget papers. The first part of the session will conclude on February 13. Parliament will reconvene on March 12 for the second part of the Budget Session and conclude on April 6.

Union Budget 2023 : Industry experts to homemakers, what people want from this year’s Budget

Union Budget 2023 Today
Nirmala Sitharaman to Present Union Budget 2023 Today

Here are some key points from Union Budget 2023-2024 and expectations:

The Economic Survey said that India’s economic recovery from the Covid pandemic is complete and the economy is expected to grow in the range of 6 per cent to 6.8 per cent in the coming financial year 2023-24. This is in comparison to 7 per cent this fiscal and 8.7 per cent in 2021-22. Like the previous two Union Budgets, Union Budget 2023-24 will also be delivered in paperless form.

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Top business leaders of the country have put forward their suggestions for Union Finance Minister Nirmala Sitharaman. Arihant Infrastructures, CMD, Ashok Chhajer told ANI that the government should focus on reducing home loan rates. Hiranandani Group MD, Niranjan Hiranandani said the Budget should focus on further investments in roads, railways, ports, airports, and highways, as well as slum rehabilitation schemes. He added that if multimodal transport becomes successful in the next 2-3 years, the logistics cost can be reduced by 3-4 per cent for every item in the country.

A key expectation of the healthcare sector from the upcoming Budget 2023 is an increase in expenditure on healthcare infrastructure, said experts in this field. Keeping the Covid-19 pandemic in view, the Budget 2021-2022 and 2022-2023 focused on the country’s healthcare sector. According to Dr Ashutosh Raghuvanshi, Senior Vice President, NATHEALTH and MD and CEO, Fortis Healthcare, “Increased policy support is required to encourage, facilitate medical value travel to India, develop MVT (Medical Value Travel) as an organized sector.” He added that India needs to urgently address the shortage of healthcare professionals – “by identifying doctors, nurses and technical staff willing to work in Tier 2/3 cities and looking at non-traditional ways to double the number of doctors.” 

Dr Shravan Subramanyam, Managing Director, Wipro GE Healthcare Pvt Ltd said, “From the coming budget, we expect the further strengthening of Ayushman Bharat Digital Mission (ABDM) along with the implementation of cybersecurity and data protection policies in consultation with industry. Against the backdrop of India’s nationwide 5G rollout in 2022, key announcements on allocations and policies that can influence 5G deployment for faster and safer healthcare delivery are awaited.” He said that it’s important to strengthen infrastructure and bridge human resource and skill deficiencies for care area deliveries across Tier 2- Tier3 cities.

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The Indian Medical Association(IMA) has recently submitted 12 suggestions to the government of India for the Budget, as per reports. Universal access to Health including safe water, sanitation, nutrition, primary education as well as eradication of poverty is a cornerstone in the path to the wellness of a society and nation, experts point out.

Source : Zeenews