Gujarat Budget 2023 Update; No new taxes said the Finance Minister of India

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Gujarat Budget 2023 Update; No new taxes said the Finance Minister of India

Kanubhai Desai, the Gujarat finance minister, is introducing the state budget for the financial year 2023–24 in front of the legislative assembly today. The Assembly’s budget session started on Feb. 23 and goes until Mar. 29. The government declared a budget of Rs. 3.01 lakh crore for the fiscal year 2023–24, a 23% increase as compared to the previous budget. “The Gujarat state would invest Rs. 5 lakh crore on infrastructure facilities in the coming 5 years”, further, Desai said. Besides this, they funded Rs. 905 crore for metro projects in Surat and Ahmedabad.
Gujarat State Budget Update:
  • They planned to spend Rs. 215 crore on airport and airstrip development.
  • There is no change to existing taxes in this budget for 2023–24.
  • Over 50 electric buses will be purchased with a budget of Rs. 24 crores.
  • With Rs. 1500 crore in the budget, five highways in Gujarat would be developed as high-speed corridors.
  • In the education field, Desai announced that new medical colleges would be built in Chotta Udepur, Mahisagar, Aravali, and Dang. Also, 5 nursing colleges will be set up.
  • Rs. 550 crore will be allocated for the reconstruction of the old bridges.
  • They also decided to fund Rs. 5950 crore for the Narmada Project.
  • Rs. 1340 crore have been decided for the National Old Age Pension Scheme.
  • The water resources department has been allocated Rs. 9705 crore.

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