EAM Jaishankar lists 10 reasons why Budget 2023 should be welcomed
External Affairs Minister S Jaishankar lauded the Union Budget 2023, putting forward ten points to explain why the world should welcome Budget 2023.
Jaishankar tweeted, “Finance Minister @nsitharaman ji presented the Budget of the 5th largest economy of the world today. 10 reasons why the world should welcome it.”
He said, “India as a stronger engine of global growth. Capital investment outlay increased by 33% to Rs 10 trillion (Now 3.3% of GDP).”
𝟏.𝐈𝐧𝐝𝐢𝐚 𝐚𝐬 𝐚 𝐬𝐭𝐫𝐨𝐧𝐠𝐞𝐫 𝐞𝐧𝐠𝐢𝐧𝐞 𝐨𝐟 𝐠𝐥𝐨𝐛𝐚𝐥 𝐠𝐫𝐨𝐰𝐭𝐡. Capital investment outlay increased by 33% to Rs 10 trillion (Now 3.3% of GDP).
— Dr. S. Jaishankar (@DrSJaishankar) February 1, 2023
He said, “Enhancing Ease of Doing Business. Includes KYC process simplification, Greater GIFT IFSC activities and establishing an EXIM Bank subsidiary for trade re-financing, PAN as Common Business Identifier, Central Data Processing Centre, Indirect Tax support for manufacturing, stronger Ease of Compliance and Income Tax benefit for Startups.”
“Better Logistics and Infrastructure. Highest ever railways outlay at Rs.240 billion, 100 critical transport infrastructure projects, 50 additional air connectivity projects, and establishing Urban Infrastructure Development Fund. Digital for Development. Promoting greater digital payments, National Data Governance Policy, establishing Data Embassies, creating Entity DigiLocker, Centers of Excellence for AI and National Digital Library for children and adolescents,” Jaishankar wrote.
Budget 2023 will strengthen global food security by making India a Global Hub for Shree Anna (Millets), establishing massive decentralized storage capacity, and promoting the contribution of Cooperatives.
Jaishankar wrote, “Ensuring Global Health Security. Promoting Pharma R&D, ensuring HR for medical innovation & manufacturing, creating more medical research facilities, and establishing 157 new nursing colleges.”
The Budget presented by FM Sitharam also outlines Green growth and mobility. Moreover, the focus also lies on investing in energy transition and net zero goals, launching the Green Hydrogen Mission, providing VGF assistance for the battery ESS, and promoting an environmentally friendly way of life (LiFE), as well as duty advantages for Ladakh evacuation using renewable energy and green transportation.
“Expand opportunities through initiatives on skills & apprenticeship backed by National Apprenticeship Policy, stipend support to 4.7 million youth, creating 30 Skill India International Centres,” the tweet added further, as Jaishankar underscored Indian participation in the global workspace.
Jaishankar stated that the Union Budget 2023-24 will also call for stronger gender empowerment. Writing on Twitter, he said, “Modi government’s pro-women policy commits to taking 8.1 million Self-Help Groups of rural women to become enterprises and collectives.”
“Focus on 50 destinations to be developed as a complete package with digital support. India’s aspirations and targets are on a scale that will impact the world. Expect these developments to feature prominently in global conversations, including at G20,” Jaishankar wrote on Twitter.
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