Rs 3 Lakh Crore Budget Unveiled, No New Taxes

Gujarat Budget 2023: Rs 3 Lakh Crore Budget Unveiled, No New Taxes

No new taxes are being proposed within the price range, Finance Minister Kanubhai Desai mentioned. (File)


The BJP-ruled Gujarat authorities on Friday introduced a Rs 3.01 lakh crore price range which imposed no new taxes.

Finance Minister Kanubhai Desai introduced the price range for 2023-24 within the Assembly right here on the second day of the Budget Session.

This was the primary price range of the brand new Bharatiya Janata Party (BJP) authorities headed by Chief Minister Bhupendra Patel which took workplace in December final 12 months after the saffron occasion received a landslide victory within the Assembly polls.

Kanubhai Desai mentioned the price range outlay of Rs 3,01,021.61 crore for 2023-24 signifies a “vital enhance” of Rs 57,077 crore, or 23.38 per cent, compared to the earlier fiscal. Of the whole outlay of Rs 3.01 lakh crore, Rs 1.91 lakh crore has been allotted for “growth expenditure” whereas Rs 1.04 lakh crore can be spent as “non-developmental expenditure”.

The Budget 2023-24 proposed a slew of schemes and initiatives, a few of which had been a part of guarantees made by the BJP in its ballot manifesto like doubling the insurance coverage protection underneath the Pradhan Mantri Jan Arogya-MA (PMJAY-MA) scheme to Rs 10 lakh from Rs 5 lakh, and offering two gasoline cylinders free per 12 months to the beneficiaries of the Ujjwala scheme.

Kanubhai  Desai mentioned that bearing in mind the income account with capital account and web public account, the estimates for the monetary 12 months 2023-24 present a surplus of Rs 916.87 crore.

“In this ‘Amrit Kaal’, I current a price range which can decide the course of the event of the state for the following 25 years. For the 12 months 2023-24, I suggest a budgetary outlay of Rs 3,01,021.61 crore,” he mentioned. The authorities goals to extend the state’s Gross State Domestic Product (GSDP) to greater than Rs 42 lakh crore within the subsequent 5 years, he mentioned.

No new taxes are being proposed within the price range, he mentioned.

“During the pandemic, we had given reduction to varied sections of society to the tune of Rs 1,000 crore by decreasing varied taxes,” he mentioned.

The state authorities will spend round Rs 5 lakh crore on the event of infrastructure amenities within the subsequent 5 years, he mentioned.

Five state highways with heavy site visitors, together with Rajkot-Bhavnagar freeway, can be developed as high-speed corridors at a value of Rs 1,500 crore, and this 12 months’s allocation for the undertaking can be Rs 384 crore, Kanubhai Desai mentioned.

The authorities additionally plans to arrange sports activities complexes in every district and taluka of the state, he mentioned, including that Rs 1,066 crore can be spent on offering homes to round one lakh folks underneath the Pradhan Mantri Awas Yojana (Urban) throughout the subsequent 12 months.

Other main bulletins embrace a provision of Rs 100 crore for the development of a Bulk Drug Park in Jambusar, Rs 800 crore to supply consuming water to Saurashtra area, Rs 605 crore for the event of roads connecting vacationer circuits and Rs 500 crore for offering two cooking gasoline cylinders free yearly to 39 lakh households underneath the Ujjwala Yojna.

To assist college students from poor backgrounds, the federal government has made a provision of Rs 50 crore for offering college vouchers of Rs 20,000 yearly to gifted college students who’ve accomplished research underneath the RTE scheme until eighth normal. With this help, they will pursue research in personal faculties after eighth normal.

(Except for the headline, this story has not been edited by NDTV employees and is revealed from a syndicated feed.)

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