Budget 2023: New one-time saving scheme for women announced by Nirmala Sitharaman

1 February, 2023 | Pragati Singh

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Union Budget is "inclusive" a reflection of Nari Shakti, and will propel India into the top three economies.

The Union Budget is “inclusive” a reflection of Nari Shakti, and will propel India into the top three economies, according to numerous prominent Bharatiya Janata Party (BJP) leaders.

On Wednesday, Union Finance Minister Nirmala Sitharaman presented the Union Budget 2023-24 in Parliament. Smriti Irani, Union Minister for Women and Child Development, stated, “I would like to extend gratitude to PM Modi. Going by today’s announcements, I believe that in the budget, respect for women has increased.”

She expressed gratitude to Sitharaman, saying that the Finance Minister introduced a new savings option in honour of women.”Today’s budget reflected how ‘Nari Shakti’ can build an empowered nation. This has been an inclusive budget,” she added.

Defence Minister Rajnath Singh expressed hope that this year’s Union Budget would allow the country to rank among the “Top Three” economies within a few years. “The Union Budget 2023-24 is expected to bring about positive changes in the country that will lead us towards achieving our goal of becoming a $5 trillion economy and ‘Top Three’ economies within a few years.” Singh wrote on Twitter.

Yogi Adityanath, Chief Minister of Uttar Pradesh, stated on Twitter that the Union Budget presented today has a resolution for the prosperity of ‘New India,’ a vision of Antyodaya, and the goal of serving 130 crore countrymen.” Besides Yogi Adityanath, Haryana Chief Minister Manohar Lal Khattar also applauded the Union Budget and termed it as a revolutionary Budget.

“It was a groundbreaking budget that will benefit all segments of society. Individuals will benefit from lower income tax rates. The allocation for the PM Awaas Yojana has been increased by 66% in this budget, which I applaud “He stated.

Mansukh Mandaviya, Union Health Minister, also reacted to this year’s Budget. “Progress, and a Budget of new speed (Nayi Gati)! Congratulations to FM @NSitharaman for presenting this #AmritKaal Budget, which is dedicated to every section of society, focussing on the upliftment of health, education, energy security, and giving relief to the common man. This is the Budget for building PM Modi’s India of Amrit Kaal,” he said in a tweet.

Union Minister of State for Health Bharati Pravin told ANI, that the focus of the Union Budget was on technology, health, sickle cell disease, and the need for treatment. The development of ICMR labs and innovative technology has also been prioritised. In this Budget, all sectors are taken into account.
Tejaswi Surya, a South Bengaluru MP and another BJP leader, stated that the Budget will be a game changer for the poll-bound state of Karnataka.

Tejaswi Surya, a South Bengaluru MP and another BJP leader, stated that the Budget will be a game changer for the poll-bound state of Karnataka. “I want to thank PM Modi and FM Sitharaman for the announcement of the over Rs 5,000 cr irrigation project for the Upper Bhadra region of Karnataka. This project will be a game changer for the state,” Surya told.

Earlier today, during a nearly one-and-a-half-hour address, the Finance Minister revealed that the government intends to boost capital investment outlay by 33% to Rs 10 lakh crore in 2023-24, or 3.3% of GDP.

“(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.

Union Budget 2022-23 provides impetus to Women-Led Development for next 25 Years

Women and Children constitute 67.7 per cent of India’s population as per the 2011 census. Empowerment and protection of women and children and ensuring their wholesome development is crucial for sustainable and equitable development of the country.

The prime objective of the Ministry of Women and Child Development is to address gaps in State action for women and children and to promote inter-ministerial and inter- sectoral convergence to create gender equitable and child centred legislation, policies and programmes. For effective implementation of various schemes and programmes of the Ministry of Women and Child Development, all major schemes of the Ministry have been classified under three umbrella schemes viz. Mission Poshan 2.0, Mission Vatsalya and Mission Shakti.

Union Finance Minister, Nirmala Sitharaman in her Budget Speech 2022-23i said, “Nari Shakti is the harbinger of India’s bright future.” Recognizing the importance of Nari Shakti, the Cabinet in 2021 approved three important Umbrella Schemes of the Ministry to be implemented in mission mode, viz., Mission Poshan 2.0, Mission Shakti and Mission Vatsalya.

Union Budget 2022-23: Key Proposals for Promoting Women and Child Development

• Ministry of Women and Child Development (WCD) has been allocated Rs 25,172.2 crore in the Union Budget 2022-23.

• The budget allocated for Saksham Anganwadi and POSHAN 2.0 (Umbrella Integrated Child Development Services- Anganwadi Services, Poshan Abhiyan, Scheme for Adolescent Girls) is Rs 20,263 crore for 2022-23.

• The budget allocated for Mission Shakti (Mission for Protection and Empowerment for Women) is Rs 3,184 crore for Financial Year 2022-23.

• For Mission VATSALYA (Child Protection Services and Child Welfare Services), the budget allocated is Rs 1,472 crore for FY 2022-23, which is an increase of 63.5 per cent as it was Rs 900 crore in 2021-22.