Home / Budget / News /  Budget 2023: From green growth to youth power, know all about PM Modi govt's ‘Saptarishi’ for India's Amrit Kaal

While presenting the Union Budget 2023, Finance Minister Nirmala Sitharman mentioned inclusive development, last mile growth, green growth, youth power, etc as the seven priorities of Budget 2023.

In her speech, Nirmala Sitharaman called these seven priorities as ‘Saptarishi’ and said all these factors will complement each other in India's growth during Amrit Kaal.

"The adopts the following seven priorities, they complement each other and act as the Saptarishi, guiding us through the ‘Amrit Kaal’. They are: inclusive development, infrastructure and investment, reaching the last mile, unleashing the potential, green growth, youth power, financial sector," said Nirmala Sitharaman in her Budget speech.

“Sabka sath sabka vikas helped in inculcating inclusive development"

Talking about inclusive development, the finance minister said the government's philosophy of 'Sabka sath sabka vikas' has facilitated inclusive development by focusing on farmers, OBC, SC & ST, financially weaker sections of the society, divyangjan, etc. She also mentioned how Jammu and Kashmir's development was brought into mainstream by the central government.

Under the government's effort to ensure inclusive development in the agriculture and cooperatives, the government announced following key programs:

-The creation of digital public infrastructure for farmers

-Launch of ANB Horticulture Clean Plant program

-Vision to make India a global hub for millets, ‘Sree Anna’

-Setting up agriculture accelerator fund

-In the FY 2023-24, the government will create a targeted funding of 20 lakh crore agricultural credit focused at animal husbandry, dairy and fisheries sector.

-Formation of a wide network of storage spaces for farmers.

Transforming the government's perception of inclusive development in health sector and education sector, the government made following announcements:

-Establishment of 157 new nursing colleges.

-Launch of ‘Sickle Cell Anaemia elimination Mission’

-Boost to Joint Public and Private Medical Research via selected ICMR labs

-Launch of programme to encourage research in India's pharma sector

-Set up of national digital library for adolescents and children

-Physical libraries to be set up at Panchayat and ward levels.

-Revamped teacher's training via District Institutes of Education and Training.

'Atmanirbhar clean plant program'

The minister announced the launch of ‘Atmanirbhar clean plant program’ to provide clean and quality material for horticultural crops at an outlay of 2,200 crores. 

She also laid special focus on millets production in the country. She called the magical grain as ‘Shree anna’.

Reaching the last mile

To provide benefit of its welfare schemes to the last section of the society, the union government announced the launch of several schemes in the new financial year. Following are the schemes to be launched by the government to ensure its last mile reach.

-Pradhanmantri (particularly vulnerable tribal groups) PVTG Development mission for the development of vulnerable tribal groups in next three years.

-Financial assistance to promote sustainable micro irrigation in Karnataka's drought prone areas.

-Increasing the number of teachers in the Eklavya Model Residential Schools

-Launch of Bharat(SHRI) for the digitization of ancient inscriptions.

Infrastructure and Investment

To give a fillip to the country's infrastructure and investment sector, the centre made following announcements in the Union Budget 2023.

-The government has announced to increase the capital investment outlay by 33.4% to 10 lakh crore.

-Extension of 50 year interest free loan to State Government for an incentivised infrastructure investment

-Railways capital outlay to increased by 2.4 lakh crore

-Launch of around 100 transport infrastructure projects to increase connectivity.

-Creation of Urban Infrastructure Development Fund to build modern infrastructure in Tier 2 and Tier 3 cities.

Unleashing the potential

For the optimum utilisation of the country's potential in all fronts following major policies and programs were announced by the Finance Minister in her Budget 2023 speech.

-Establishment of three artificial intelligence centres in educational institutes.

-Formation of a national data governance policy

-Relaxation in rules and policy for an easier and lesser strict contract execution for MSMEs.

-Launch of the third phase of e-courts

-Formation of more than 100 labs for 5 services based application development.

-Enhancement of research in the field of Lab Grown Diamond..

Green Growth

-Launch of PM Pranam to encourage the use of alternative fertilisers.

-Set up of more than 500 new ‘Waste to Wealth’ plants under GOBARdhan scheme.

-Launch of MISHTI program to carry out mangroove plantation along coastline.

Youth Power

-Launch of Pradhan Mantri Kaushal Vikas Yojana(PMKVY) 4.0. The new program will also fund courses like 3D printing, coding, AI, robotics, etc.

-Selection of 50 locations for their development as prime tourist spots of the country.

-Unity Malls will be set up by every state for the promotion and sale of One District, One Product(ODOP), GI tagged articles, and handicraft products.

Financial Sector

-The government announced to set up a National Financial Information registry to promote financial inclusion.

-Establishment of Central Data Processing Centre to speed up administrative work under the Companies Act.

-Launch of Credit Guarantee Scheme for MSMEs.

-The centre will launch a one-time small savings scheme for a 2 year period for women, named as ‘Mahila Samman Bachat Patra’.

-The government announced to increase the maximum limit for senior citizens saving scheme from 15 lakh to 30 lakh.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Recommended For You
Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout