The Union Budget for the year 2023-24 was presented in Parliament on 1st February by the Finance Minister, Smt. Nirmala Sitharaman. This is an important document that lays down the government's agenda for the coming year.

In this blog post, we will take a look at some of the key decisions that have been made in this budget. We will also discuss how these decisions could impact your business. So, without further ado, let's get started!

• The government has allocated a total budget of ₹30,00,000 crore for the next financial year.
• A special focus has been given to education and health sectors with increased allocations in these areas.
• In order to support the farmers, agricultural credit target has been set at ₹16.5 lakh crores for the year 2023-2024 and provision of ₹1.5 lakh crore for agriculture infrastructure development fund.
• The government has made an allocation of ₹35,000 crore to create jobs through MGNREGA.
• Welfare schemes have been increased by 49 percent which includes the Pradhan Mantri Awas Yojana and Swachh Bharat Abhiyan.
• An allocation of ₹1,500 crore has been made for setting up 100 research parks to boost innovation and technology.
• The government has also allocated ₹20,000 crores for nutrition-related programmes and ₹3500 crore for the welfare of women, children and transgender.
• The government has also announced a new health scheme which will provide medical coverage up to ₹5 lakhs per family each year.
• To boost infrastructure in rural India, the government has allocated ₹1 lakh crore to create rural infrastructure.
• To promote digital India, the government has allocated ₹2,000 crores for internet connectivity in remote areas.
• Tax incentives have been provided to MSMEs and startups to encourage investment and job creation.
• A special corpus of ₹15,000 crore has been allotted to finance affordable housing projects.
• The government has also announced various tax exemptions and deductions for individuals to boost their purchasing power.
• To promote Make in India, the government is also setting up a number of industrial parks with an allocation of ₹2,000 crores.