During the Budget 2023 speech, Union Finance Minister Nirmala Sitharaman mentioned ‘Amrit Kaal’ many times. “This is the first budget in Amrit Kaal, this budget hopes to build on the foundation laid in the previous budget and the blueprint laid for India@100, we envision a prosperous and inclusive India in which the fruits of development reach all,” she said.
So What is Amrit Kaal?
Prime Minister Narendra Modi coined the phrase “Amrit Kaal” for the first time in 2021 during the festivities of India’s 75th Independence Day.
When announcing a new blueprint for India’s next 25 years, PM Modi used the phrase. At the time, Modi stated that Amrit Kaal’s goal was to improve the quality of life for Indian inhabitants and close the development gap between rural and urban areas. It also attempted to welcome new technology while minimising government meddling in people’s lives, said a report by DNA.
Prime Minister Narendra Modi on Wednesday said the first budget of the “amrit kaal” provides foundation to fulfil the resolve for a developed India while giving priority to deprived sections of the society as well.
In his first reaction to the Budget presented by Finance Minister Nirmala Sitharaman, Modi said it will fulfil dreams of the aspirational society, farmers and middle class.
The middle class is a big force to fulfil dreams of a prosperous and developed India and our government has taken many decisions to empower it, the prime minister said.
Touching on various aspects of the budget, he said success of digital payments has to be replicated in the agriculture sector and a scheme has been brought for laying down digital infrastructure for it It will make cooperatives pivot of development of rural economy, he said.
“An unprecedented investment of Rs 10 lakh crore in infrastructure will give speed and new energy to development,” he said.
Origin of the Word
The term “Amrit Kaal” comes from Vedic astrology and refers to a crucial period when the portals to greater pleasure for humans, angels, and other creatures open. Amrit Kaal is regarded as the most fortunate time to begin any new work.
According to a report by Indian Express, BJP has placed more focus on “Amrit Kaal” in the lead-up to the general elections in 2024, claiming that the country will experience its greatest prosperity and social fairness during this time. The aspiration for a better future in which India would be independent and uphold all of its humanitarian duties is also expressed in “Amrit Kaal.”
What FM Has Announced
Finance Minister Nirmala Sitharaman announced that the Centre will continue 50-year interest-free loans to state governments for one more year.
She also said the enhanced capex of Rs 10 lakh crore for infrastructure development is at 3.3 per cent of the GDP.
Presenting the Budget for 2023-24, she said the newly established infrastructure finance secretariat will assist in attracting more private investment.
An expert committee will also be set up to make infrastructure classification and financing framework suitable for Amrit Kaal, she added.
On October 13 last year, Prime Minister Narendra Modi had launched the Gati Shakti – National Master Plan, aimed at developing integrated infrastructure to reduce logistics costs.
All logistics and connectivity infrastructure projects, entailing investment of over Rs 500 crore, are routed through the NPG, constituted under the PM Gati Shakti initiative.
She also informed that the PM Particularly Vulnerable Tribal Groups (PVTGs) scheme would benefit 3.5 lakh tribals.
With inputs from PTI
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