Gujarat Finance Minister Kanu Desai presented a Rs 3.01 lakh crore budget for the financial year 2023-24 with no new taxes imposed on people. The budget for FY24 includes proposals for various schemes and projects which were promised in the manifesto of the 2022 elections.
- The budget of FY24 focuses on infrastructure development, tourism, Electric Vehicle (EV) ecosystem and more.
- This records a significant increase of Rs 57,056.89 crore in the budgetary provisions, which is 23.38% higher than the budget for FY 2022-2023.
Note: This marks the 1st budget of the new Bharatiya Janata Party (BJP) government headed by Chief Minister(CM) Bhupendrabhai Patel, who took office in December 2022.
Highlights:
i.Rs 500 crore has been allocated for the Ujjwala Yojana, under which around 39 lakh families would be provided with 2 cooking gas cylinders for free in a year.
ii.Gujarat government has announced a 10% point reduction in value-added tax (VAT) on Compressed Natural Gas (CNG) and Piped Natural Gas (PNG). The VAT is reduced from 15% on CNG and PNG to 5%.
iii.The government has proposed to double the double annual insurance limit from Rs 5 lakh to Rs 10 lakh under Ayushman Bharat – Pradhan Mantri Jan Arogya Yojana (AB PM-JAY) for eligible families.
iv.Around Rs 2 lakh crore has been allocated for the coming 5 years for the betterment of poor people.
v.Rs 5 crore has been allocated to set up Dr Ambedkar Bhavan in 4 regions.
vi.Rs 3514 crore has been allocated for the ports and logistics sector.
vii.Rs 9,705 crore has been allotted for the state’s water resources department.
viii.Rs 217 crore has been allocated to boost the EV ecosystem in Gujarat.
Students:
i.Rs 34,884 crore has been allocated to boost education in Gujarat.
ii.Rs 64 crore has been allocated to get 20000 new computer labs, 50000 new classrooms in the schools in Gujarat. Around 400 gyan setu schools will also be established in Gujarat.
Renewable energy:
i.Rs 2 lakh crore has been allocated for green growth initiatives and the renewable energy contribution in Gujarat will be increased to 42% in Gujarat’s total power generation.
ii.Investment of Rs 1.5 lakh crore is expected in the semiconductor sector of Gujarat.
Infrastructure:
i.The government has planned to construct sports complexes in each district as well as taluka of Gujarat.
ii.Rs 1066 crore is set to be spent on developing residential spaces for around 1 lakh people under the Pradhan Mantri Awas Yojana (PMAY) (Urban) scheme in the next year.
iii.Around Rs 5 lakh crore is allocated for infrastructure development in the next 5 years.
iv.The government is set to construct a new airport at Dwarka and revamp the Keshod facility.
v.Under PM Gati Shakti, Rs 200 crore equity contribution to Ahmedabad-Mumbai Bullet Train Project has been announced.
vi.A fintech hub will be established at Gujarat International Finance Tec-City (GIFT City), Gandhinagar, with the support of the Asian Development Bank(ADB). Rs 76 crore was proposed for the GIFT City and Rs 150 crore for the Sabarmati riverfront near GIFT City.
Roads and Highways:
i.Ahmedabad-Mehsana Palanpur road is set to be made 6-lane at a budget outlay of Rs 160 crore.
ii.Rs 1500 crore has been allocated for developing 5 highways in Gujarat as high speed corridors.
Narmada Project:
i.Rs 5,950 crore was announced for the Narmada project, including a provision of Rs 1,082 crore for the remaining work on the Kutch branch canal.
ii.Rs 550 crore has been allocated for the reconstruction and strengthening of old bridges and Rs 178 crore for the maintenance of the Narmada Main Canal.
Tourism:
i.Rs 8,000 crore has been allocated to develop 5 Tourist sports across Gujarat and Rs 10000 crore has been allocated for heritage and eco-tourism development.
ii.The Yatradham corridor is set to be developed to boost Dwarka tourism.
- Forest Cover in Gujarat increased by an additional 69 square kilometre
Pension:
Rs 1,340 crore has been allocated to provide monthly pension to 11 lakh beneficiaries in National Old Age Pension Scheme.
Healthcare:
i.Rs 15,182 crore has been allocated for the healthcare sector and Rs 55 crore has been allocated to expand the ambulance network of Gujarat. 5 new nursing colleges will also be established in Gujarat.
ii.Rs 4,200 crore World Bank Loan was set to be utilised for new schemes for healthcare infrastructure
About Gujarat:
Chief Minister– Bhupendrabhai Patel
Governor– Acharya Devvrat
Wildlife Sanctuary– Ratanmahal Sloth Bear Sanctuary; Kutch Desert Sanctuary
Zoological Park– Sakkarbaug zoo; Dr Shyamaprasad Mukherjee Zoological Garden (Sarthana Nature Park)
