{"id":231335,"date":"2023-03-16T19:30:26","date_gmt":"2023-03-16T14:00:26","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=231335"},"modified":"2023-08-28T14:31:12","modified_gmt":"2023-08-28T09:01:12","slug":"kurukshetra-march-2023-summary-development-directions-in-budget","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/kurukshetra-march-2023-summary-development-directions-in-budget\/","title":{"rendered":"[Kurukshetra March 2023 Summary] Development Directions in Budget\u00a0\u2013 Explained, pointwise"},"content":{"rendered":"\n\n\n\n
For\u00a07PM Editorial<\/strong>\u00a0Archives click\u00a0HERE <\/a>\u2192<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Introduction<\/strong><\/h2>\n

The<\/span> Economic<\/span> Survey<\/span> 2022-23<\/span> gave<\/span> a<\/span> positive<\/span> outlook<\/span> for<\/span> India’s<\/span> economic<\/span> growth<\/span> in<\/span> FY<\/span> 2023-24,<\/span> citing<\/span> the<\/span> country’s<\/span> resilience<\/span> in<\/span> the<\/span> post-COVID<\/span> era.<\/span> The survey emphasised the importance of agriculture and rural development for the growth of everyone.<\/p>\n

Over<\/span> the<\/span> past<\/span> six<\/span> years,<\/span> the<\/span> agriculture<\/span> sector<\/span> has<\/span> shown<\/span> steady<\/span> growth.<\/span> In<\/span> the<\/span> Union<\/span> Budget<\/span> 2023-24,<\/span> the<\/span> Indian<\/span> government<\/span> has<\/span> given<\/span> top<\/span> priority<\/span> to<\/span> a<\/span> number<\/span> of<\/span> areas<\/span> related<\/span> to<\/span> agriculture,<\/span> rural<\/span> jobs,<\/span> and<\/span> rural<\/span> ways<\/span> of<\/span> making<\/span> a<\/span> living.<\/span>\u00a0<\/span><\/p>\n

This<\/span> article<\/span> attempts<\/span> to<\/span> explain<\/span> the<\/span> inbuilt<\/span> policy<\/span> direction<\/span> and<\/span> socioeconomic<\/span> intent<\/span> of<\/span> the\u00a0Government<\/span> by<\/span> discussing<\/span> a<\/span> few<\/span> agriculture<\/span> and<\/span> rural<\/span> livelihood<\/span> and<\/span> employment-related\u00a0focus<\/span> areas<\/span> as<\/span> prioritised<\/span> in<\/span> the<\/span> Budget<\/span> 2023-24.<\/span>\u00a0<\/span><\/p>\n

Development directions in Budget – Refocusing Priority Areas<\/span><\/b>\u00a0<\/span><\/h2>\n
\"Development
Source: Kurukshetra<\/figcaption><\/figure>\n

The<\/span> Budget<\/span> speech<\/span> emphasised<\/span> seven<\/span> priority<\/span> areas<\/span> and<\/span> underscored<\/span> the<\/span> Union<\/span> Government’s<\/span>\u00a0<\/span>intentions<\/span> to<\/span> achieve<\/span> goals<\/span> linked<\/span> to<\/span> the\u00a0prioritised<\/span> domain.<\/span> Ensuring<\/span> complementarity,<\/span>\u00a0<\/span>the<\/span> Budget<\/span> has<\/span> outlined<\/span> to<\/span> achieve<\/span> (i) <\/strong>inclusive<\/span> development;<\/span> (ii) <\/strong>connecting<\/span> targeted<\/span>\u00a0<\/span>clients<\/span> and<\/span> reaching<\/span> the<\/span> last<\/span> mile;<\/span> (iii) <\/strong>boosting<\/span> infrastructure<\/span> and<\/span> investment;<\/span> (iv) <\/strong>bringing<\/span> in<\/span> innovation,<\/span> technology<\/span> for<\/span> unleashing<\/span> the<\/span> latent<\/span> productive<\/span> potential;<\/span> (v) <\/strong>meeting<\/span> climate <\/span>change<\/span> effects<\/span> by<\/span> developing<\/span> and<\/span> focusing<\/span> green<\/span> growth-led<\/span> strategic<\/span> action;<\/span> (vi) <\/strong>identifying<\/span> and\u00a0<\/span>consolidating<\/span> the<\/span> power<\/span> of<\/span> youth<\/span> and<\/span> enhancing<\/span> their<\/span> participation<\/span> in<\/span> the<\/span> economic<\/span> growth;<\/span> and<\/span>\u00a0<\/span>(vii) <\/strong>strengthening<\/span> financial<\/span> sector<\/span> for<\/span> effective<\/span> financial<\/span> inclusion.<\/span>\u00a0<\/span>\u00a0<\/span><\/p>\n

The<\/span> Budget<\/span> announcements<\/span> have<\/span> emphasised<\/span> on<\/span> making<\/span> agriculture<\/span> future<\/span> ready<\/span> and<\/span> inclusive<\/span> while<\/span> envisioning<\/span> youth<\/span> participation<\/span> and<\/span> encouraging<\/span> rural<\/span> employment<\/span> and<\/span> income<\/span> growth.<\/span>\u00a0<\/span><\/p>\n

An overall review of Development Directions in Budget<\/span><\/b><\/h2>\n
\"Development
Source: Kurukshetra<\/figcaption><\/figure>\n

A<\/span> review<\/span> of<\/span> the<\/span> Revised<\/span> Estimates<\/span> (RE)<\/span> and<\/span> Budget<\/span> Expenditure<\/span> (BE)<\/span> of<\/span> 2022-23<\/span> indicates<\/span> that<\/span> rural<\/span> employment<\/span> initiatives,<\/span> crop<\/span> husbandry,<\/span> including<\/span> farming<\/span> and<\/span> the<\/span> raising<\/span>\u00a0<\/span>of<\/span> livestock,<\/span> poultry<\/span> and<\/span> other<\/span> activities,<\/span> food<\/span> storage<\/span> and<\/span> warehousing<\/span> and<\/span> housing<\/span> got<\/span>\u00a0<\/span>higher<\/span> allocations.<\/span><\/p>\n

These increased<\/span> resource<\/span> allocations<\/span> aimed<\/span> at<\/span> stimulating<\/span> economic<\/span> growth<\/span> along<\/span> with<\/span> job<\/span> creation,<\/span> income<\/span> and<\/span> wealth<\/span> generation<\/span> and<\/span> enhancement<\/span> of<\/span> overall<\/span> consumption<\/span> demand<\/span> in<\/span> rural<\/span> India.<\/span>\u00a0<\/span><\/p>\n

Rural<\/span> areas<\/span> and<\/span> the<\/span> agriculture<\/span> sector<\/span> are<\/span> seen<\/span> as<\/span> important<\/span> for<\/span> growth,<\/span> with<\/span> investments<\/span> planned<\/span> for<\/span> job<\/span> creation<\/span> and<\/span> development<\/span> in<\/span> these<\/span> areas.<\/span> Rural\u00a0development<\/span> saw<\/span> a<\/span> decrease<\/span> in<\/span> allocation.<\/span> This<\/span> suggests<\/span> the<\/span> potential<\/span> to<\/span> allocate<\/span> resources<\/span> to<\/span> other<\/span> emerging<\/span> sectors.<\/span>\u00a0<\/span><\/p>\n

The<\/span> budget<\/span> allocation<\/span> for<\/span> rural<\/span> housing,<\/span> fishery<\/span> activities,<\/span> and<\/span> water<\/span> and<\/span> sanitation<\/span> has<\/span> increased<\/span> in<\/span> 2023-24<\/span> compared<\/span> to<\/span> 2022-23.<\/span> A<\/span> new<\/span> sub-scheme<\/span> of<\/span> Pradhan Mantri Matsya Sampada Yojana<\/a><\/strong>\u00a0aims<\/span>\u00a0to<\/span> improve<\/span> value<\/span> chain<\/span> efficiencies<\/span> in<\/span> the<\/span> fishery<\/span> sector<\/span> and<\/span> expand<\/span> its<\/span> market.<\/span>\u00a0<\/span>\u00a0<\/span><\/p>\n

Additionally,<\/span><\/span> a<\/span><\/span> new<\/span><\/span> Scheme,<\/span><\/span> National<\/span><\/span> Mission<\/span><\/span> on<\/span><\/span> Natural<\/span><\/span> Farming,<\/span><\/span> with<\/span><\/span> Rs<\/span>.<\/span><\/span> 459<\/span><\/span> crore<\/span><\/span> budget<\/span><\/span> allocation<\/span><\/span> has<\/span><\/span> been<\/span><\/span> launched<\/span><\/span> to<\/span><\/span> promote<\/span><\/span> natural<\/span><\/span> and<\/span><\/span> organic<\/span><\/span> farming<\/span><\/span> practices<\/span><\/span> and<\/span><\/span> reduce<\/span><\/span> dependency<\/span><\/span> on<\/span><\/span> chemical-based<\/span><\/span> fertilizers<\/span>.<\/span><\/span><\/p>\n

Development Directions in Budget – Rural Employment Programmes<\/span><\/b> \u00a0<\/strong><\/h2>\n