Recap of Budget 2023


Saptrishi (7 Priorities)

  • Inclusive Development

  • Reaching the Last Mile

  • Infrastructure and Investment

  • Youth Power

  • Unleashing the Potential

  • Financial Sector

  • Green Growth

Tax Regime

  • Rs. 0 - 3 Lakh - NIL

  • Rs. 3 - 6 Lakh - 5%

  • Rs. 6 - 9 Lakh - 10%

  • Rs. 9 - 12 Lakh - 15%

  • Rs. 12 - 15 Lah - 20%

  • Rs. 15+ Lakh - 30%

Rupee Comes From

  • Borrowing and other liabilities

  • Income Tax

  • Union Excise Duties

  • Non-Debt capital receipts

  • Corporation Tax

  • Non-Tax Receipts

  • Goods and Service Tax and Other Tax

Rupee Goes To

  • Interest Payments

  • Pensions

  • Other Expenditure

  • States' share of Taxes and Duties

  • Centrally Sponsored Schemes

  • Financial Commission and other transfers

  • Subsidies

  • Defence

  • Central Sector Schemes

Allocation for Specific Ministries

  • Defence - Rs. 5.94(lakh crore)

  • Road Transport and Highways - 2.70 (lakh crore)

  • Railways - 2.41 (lakh crore)

  • Consumer Affairs, Food and Public Distribution - 2.06 (lakh crore)

  • Home Affairs - 1.96 (lakh crore)

  • Chemicals and Fertilisers - 1.78 (lakh crore)

  • Rural Development - 1.60 (lakh crore)

  • Agriculture and Farmer's Welfare - 1.25 (lakh crore)

  • Communications - 1.23 (lakh crore)

What Got Cheaper/Costlier


  • Clothes

  • Copper

  • Cigarettes

  • Silver Doors, Bars and Articles

  • Compounded Rubber

  • Electric Kitchen Chimneys

  • Articles made of Gold and Platinum


  • Television parts

  • Mobile Phones

  • Camera Lenses

  • Denatured Ethyl Alcohol

  • Domestic Manufacture of Shrimp

  • Acid Grade Fluorspar

Other Allocations

Support to State Governments

The Government continued the 50-year interest free load to state governments with an enhanced outlay of Rs. 1.3 Lakh Crore

Regional Connectivity

50 additional airports, heliports, water aerodromes and advance landing grounds were to be revived

Centres of Excellence for Artificial Intelligence

3 such centres were to be set up in top educational institutions

5G services

100 labs for developing applications using 5G services were to be set up in engineering institutions

Bhartiya Prakritik Khei Bio-Input Resource centres

The government was set to facilitate1 crore farmers to adopt natural farming by 2026


Mahila Samman Bachat Patra

A deposit facility upto Rs. 2 lakh in the name of women or girls for a tenor of two years at fixed interest rate of 7.5 per cent

Senior Citizens

The maximum deposit limit for senior citizens savings scheme change to Rs 30 Lakh

PM Awas Yojana

The outlay was enhanced by 66 per cent to over Rs. 79,000 crore

Support for Poor Prisoners

Required financial support will be provided for poor prisoners who are unable to afford the penalty or bail amount

Capital Investment

The outlay was increased by 33  per cent to Rs 10 lakh crore, which would have been 3.3 per cent of GDP

Effective Capital Expenditure

It was budgeted at Rs 13.7 lakh crore, which will be 4.5 per cent of GDP


Skill India Digital Platform

The further ecosystem for skilling was set to be further expanded for

  • Enabling demand-based formal skilling

  • Linking with employers including MSMEs and

  • Facilitating access to entrepreneurship schemes


At least 50 destinations were set to be selected and objectives of ‘Dekhi Apna Desh’ initiative were set to be achieved

Digital Payments

Digital Payments continued to find wide acceptance. Fiscal support for the digital public infrastructure continued in 2023-24

Fiscal deficit of states

States will be allowed a fiscal deficit of 3.5 per cent of GSDP of which 0.5 per cent will be tied to power sector reforms