Budget Theme in Modi Government: Ten budgets have been presented in the Modi government, including interim and complete.
Budget Theme in Modi Government: Union Finance Minister Nirmala Sitharaman, while presenting the budget for the next financial year 2022-23, mentioned the Amrit period. This means that the country is celebrating the nectar festival of independence and after 25 years, 100 years of independent India will be completed. The Finance Minister has termed it as ‘Amrit Kaal’ and the focus of the entire budget was on this. Prime Minister Narendra Modi said in a program organized on self-reliant economy (Aatmanirbhar Arthvyavastha) that Finance Minister Nirmala Sitharaman has made such necessary provisions in the budget that will take the country towards modernity.
So far, the budget has been presented ten times in the Modi government, including interim and full. The interim budget is presented in an election year and is for a few months. After this, the budget of the entire financial year is presented after the victory in the Lok Sabha elections, when the next government is formed. Let us know what has been the theme of the budget in the Modi government.
2014-15
On July 10, 2014, Union Finance Minister Arun Jaitley presented the first budget of the Modi government after winning the 2014 elections. This budget was presented by Jaitley with the motto of ‘Sabka Saath Sabka Vikas’.
Read the full budget here-
2015-16
The budget for the financial year 2015-16 was presented by Finance Minister Arun Jaitley on 28 February 2015. This budget was on six themes-
- Remedies to control black money
- Growth and revival of investment and promotion of manufacturing in the country and employment generation through ‘Make in India’
- Minimum Government and Maximum Governance to improve ease of doing business
- Benefit to middle class taxpayers
- Improving the standard of living and health of people through Swachh Bharat programs
- Bringing out special proposals for the greater benefit of the economy
Read the full budget here-
2016-17
Union Finance Minister Arun Jaitley presented the budget for the financial year 2016-17 on 29 February 2016. The ‘Transform India’ agenda has been set for this budget and the budget was based on nine themes.
- Agriculture and Farmers Welfare: The focus will be on doubling the income of farmers in the next five years.
- Rural Sector: Emphasis on employment and infrastructure in villages.
- Social Sector including Healthcare: Covering all welfare and health services.
- Education, Skills and Employment Generation: To make the country a knowledge based and productive society.
- Infrastructure & Investments: Enhancing capacity and quality of life.
- Reforms in the Financial Sector: Bringing Transparency and Sustainability
- Governance and ease of doing business: To enable people to work to their full potential.
- fiscal discipline: Management of government finance in the best way and benefiting the needy.
- Tax Reforms: Reducing tax compliance while relying on citizens.
Read the full budget here-
2017-18
The budget for the financial year 2017-18 was presented by the Union Finance Minister Arun Jaitley on 1 February 2017 on the day of Vasant Panchami. This budget was based on 10 themes under the agenda ‘Transform, Energize and Clean India’ (Bringing Big Transformation in India, Infusing Power and Creating a Clean India). Another special feature of this budget was that the railway budget was merged in it.
- Farmer: Committed to doubling the income of farmers in the next five years.
- rural population: Providing employment and basic infrastructure.
- Youth: Encouraging them through education, skills and employment.
- Poor and deprived sections of special facilities: Strengthening the system of social security, health care and affordable housing.
- Infrastructure: To improve efficiency, productivity and standard of living.
- Financial Sector: Promoting growth and stability through strong institutions.
- Digital Economy: Digital economy for speed, accountability and transparency.
- Public Service: Providing effective governance and efficient service through people’s participation.
- Prudential Fiscal Management: Ensuring appropriate use of resources and maintaining fiscal stability.
- Tax Administration: Give respect to honest people.
Read the full budget here-
2018-19
This was the last budget of Union Finance Minister Arun Jaitley. He presented the budget for the financial year 2018-19 on 1 February 2018. This was the first budget after major reforms like GST, dynamic fuel pricing, mega PSU bank recapitalisation. In this budget, the focus was on agriculture, rural development, health, education, employment, MSME and infra sector. The government said that through structural reforms, India will move forward rapidly in the world’s fastest growing economy.
Read the full budget here-
2019-20 (Interim)
This budget was presented by Piyush Goyal on 1 February 2019 in the absence of Arun Jaitley. This was an interim budget instead of the entire financial year due to the general Lok Sabha elections. There has been a tradition of not making any major announcements in the interim budget. However, many announcements were made before the elections. In this budget, income up to Rs 5 lakh was made tax free without changing the tax slab. Apart from this, it was announced to send 6 thousand rupees annually to the farmers in their accounts.
Read the full budget here-
2019-20 (Completed)
Finance Minister Nirmala Sitharaman created history when she presented the first budget of the second term of the Modi government, which returned after the victory in the Lok Sabha elections. She became the first full-time finance minister of the country to present the budget. This budget was presented with the goal of ‘A strong citizen for a strong country’. The Finance Minister said that those who earn more should contribute more in nation building. He introduced two rates of surcharge for wealthy taxpayers.
Read the full budget here-
2020-21
Union Finance Minister Nirmala Sitharaman presented the budget for the financial year 2020-21 on 1 February 2020. This budget was based on three themes.
- Ambitious India: An India in which all sections of the society want to improve their standard of living through the availability of health, education and better employment.
- Economic development for all: In this, reforms will be done in the economy at many levels and there will be more scope for the private sector. Together, both will ensure greater productivity and better efficiencies.
- Caring Society: A society that is human and full of compassion. Antyodaya is a symbol of faith.
Read the full budget here-
2021-22
The budget for the financial year 2021-22 was presented by Finance Minister Nirmala Sitharaman on 1 February 2021. This budget was presented amidst the unprecedented situation of Corona epidemic. The budget was based on 6 pillars.
- health and wellness
- physical and financial capital and infrastructure
- Inclusive development for an aspirational India
- Energizing Human Capital
- Innovation and R&D
- Minimum Government and Maximum Administration
Read the full budget here-
2022-23
Finance Minister Nirmala Sitharaman presented the budget for the next financial year on 1 February 2022. This budget was presented at a time when the countrymen are celebrating the Amrit Festival of Independence and according to the Finance Minister, have entered the Amrit period. The Finance Minister said that after a long journey of 25 years, we will reach India @ 100 and Prime Minister Modi has set the vision of India @ 100 in his Independence Day speech. The budget for the next financial year is based on a 25-year roadmap.
Read the full budget here-
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