{"id":225541,"date":"2023-02-07T20:59:46","date_gmt":"2023-02-07T15:29:46","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=225541"},"modified":"2023-02-20T14:18:31","modified_gmt":"2023-02-20T08:48:31","slug":"ceo-niti-aayog-param-iyer-on-budget-2023-24-an-infrastructure-push-for-the-people","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/ceo-niti-aayog-param-iyer-on-budget-2023-24-an-infrastructure-push-for-the-people\/","title":{"rendered":"CEO NITI Aayog Param Iyer on Budget 2023-24: An infrastructure push for the people"},"content":{"rendered":"\n

Source<\/strong>– The post is based on the article \u201cCEO NITI Aayog Param Iyer on Budget 2023-24: An infrastructure push for the people\u201d <\/strong>published in The Indian Express <\/strong>on 7th February 2023<\/strong>.<\/p>\n

Syllabus: <\/strong>GS2-Budgeting<\/p>\n

Relevance:<\/strong> Infrastructure creation<\/p>\n

News- <\/strong>The article explains how Budget 2023 gives a powerful thrust to infrastructure development .<\/p>\n

What are the announcements in Budget related to infrastructure?<\/strong><\/h2>\n

In Budget 2023-24, 3.3 per cent of the GDP<\/strong>, an increase of three times from 2019, was allocated for infrastructure.<\/p>\n

The Ministry of Railways<\/strong> received its highest-ever allocation<\/strong> of Rs 2.4 lakh crore, approximately nine times the allocation in 2013-14.<\/p>\n

The Ministry of Road Transport and Highways<\/strong> saw a 36 per cent increase <\/strong>in its budget to about Rs 2.7 lakh crore.<\/p>\n

The direct capital investment by the Centre has been further supplemented by a one-year extension of the 50-year interest-free loan <\/strong>to state governments.<\/p>\n

It is apt that the Finance Minister has observed that every rupee spent on infrastructure and capital expenditure gives 2.95 as a multiplier.<\/p>\n

How is the Budget pushing the digital transformation?<\/strong><\/h2>\n

The first phase<\/strong> of digital transformation started in 2015 and was led by the JAM trinity<\/strong> \u2014 Jan Dhan,\u00a0Aadhaar<\/a>\u00a0and mobile linkages, and the Digital India programme.<\/p>\n

The second phase <\/strong>of digital transformation is now being led by the development, application, and large-scale expansion of cutting-edge technologies.<\/p>\n

Another important domain that the government is focusing on currently is creating open AI resources. The Digital India Bhashini portal<\/strong> is a public digital platform that hosts 260 open-source API-based AI models .<\/p>\n

Similarly, the Agriculture Accelerator Fund<\/strong> announced in the budget will enable the Indian agricultural ecosystem to work collaboratively and find knowledge-based and farmer-centric solutions.<\/p>\n

How is the Budget pushing the Social infrastructure?<\/strong><\/h2>\n

The total expenditure of the central government in social infrastructure has increased by 134 per cent <\/strong>from Rs 9.1 lakh crore in 2016 to 21.3 lakh crore in 2023.<\/p>\n

The Aspirational Districts Programme<\/strong> spearheaded by NITI Aayog through data-driven governance has resulted in consistent macro improvements in key socioeconomic indicators.<\/p>\n

The emphasis on digital land records under the SVAMITVA Scheme <\/strong>of the Ministry of Panchayati Raj is a structural reform in rural land management that leads to individual economic empowerment.<\/p>\n

Targeted initiatives announced in the budget such as the mission to eliminate sickle cell anaemia <\/strong>will raise awareness about the near-fatal disease and will immensely benefit the affected tribal areas.<\/p>\n

What is the way forward?<\/strong><\/h2>\n

This concerted thrust on creation, maintenance and expansion of physical, digital and social infrastructure has emerged as a systemic focus of India\u2019s unique development model.<\/p>\n

This infrastructure triad will be the enabler of growth and leveller of opportunities.<\/p>\n","protected":false},"excerpt":{"rendered":"

Source– The post is based on the article \u201cCEO NITI Aayog Param Iyer on Budget 2023-24: An infrastructure push for the people\u201d published in The Indian Express on 7th February 2023. Syllabus: GS2-Budgeting Relevance: Infrastructure creation News- The article explains how Budget 2023 gives a powerful thrust to infrastructure development . What are the announcements… Continue reading CEO NITI Aayog Param Iyer on Budget 2023-24: An infrastructure push for the people<\/span><\/a><\/p>\n","protected":false},"author":10320,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[212,10500],"class_list":["post-225541","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-gs-paper-2","tag-indian-express","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704547161},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/225541","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10320"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=225541"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/225541\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=225541"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=225541"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=225541"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}