Viksit Bharat by 2047

Vision: Prosperous Bharat in harmony with nature, modern

infrastructure and opportunities for all
ºÉiªÉàÉä´É VɪÉiÉä

Development Mantra

Sabka Saath,
Sabka Vikas

Key Features Comprehensive

development of all
of
Budget Sabka Saath,
Sabka Vikas,
Sabka Vishwas
2024-2025 Trinity of demography,
democracy and diversity,
backed by ‘Sabka Prayas’

February, 2024

Developed India
@ 2047

1
 People-Centric Inclusive Development Focus Areas (1/2)
Garib Kalyan, Desh ka Kalyan
Substantive development of all forms of
infrastructure-Physical, Digital and Social
Decline in
DBT has led to savings of ₹2.7 lakh Headcount Ratio
Digital Public Infrastructure (DPI)-Promoted crore 55.3

Percentage of Population who are

formalisation and financial inclusion

Multidimensionally poor
25 crore people moved out of Multi-
29.2
Deepening and widening of tax base via GST dimensional poverty 24.9

15
11.3
Strengthened financial sector brought savings, credit Credit assistance to 78 lakh street
and Investment back on track
vendors under PM-SVANidhi 2005-06 2013-14* 2015-16 2019-21 2022-23*

* Projections

GIFT IFSC- A robust gateway for global capital and

financial services for the economy Empowering the Youth
Increase in PM-SHRI
1.4 crore youth trained under Skill Budget Allocation
Proactive Inflation management
India Mission 6050

All parts of country becoming active participants in Fostering entrepreneurial aspirations 4000

₹ Crore
economic growth
of Youth-43 crore loans sanctioned
India and World Dollar GDP growth under PM Mudra Yojana
2023-24 (BE) 2024-25 (BE)
20 India Dollar GDP growth World Dollar GDP growth

15
IIT AIIMS Universities
10
22
Per cent

5 1113
23 723
0 16
7
-5

-10
2014 2023
FY14

FY15

FY16

FY17

FY18

FY19

FY20

FY21

FY22

FY23

FY24

FY25

FY26

FY27

FY28

FY29

2014 2022 2014 2023

2 3
 Focus Areas (2/2) Strategy for Amrit Kaal (1/5)
Welfare of Farmers-Annadata Sustainable Development
Increasing Procurement of
Wheat and Rice Commitment to meet ‘Net Zero’ by 2070
Direct financial assistance to 11.8
crore farmers under PM-KISAN Rice Wheat • Viability gap funding for wind energy
38 433 • Setting up of coal gasification and liquefaction capacity
390
• Phased mandatory blending of CNG, PNG and

Lakh Metric Tonne

Crop Insurance to 4 crore farmers 30 29 28

under PM Fasal Bima Yojana 262 compressed biogas

• Financial assistance for procurement of biomass
188

aggregation machinery
Integration 1,361 mandis under e-

2020-21

2021-22

2022-23

2023-24
NAM, supporting trading volume of
2020-21

2021-22

2022-23

2023-24
Rooftop solarization-1 crore households will be enabled to
₹ 3 lakh crore
obtain up to 300 units of free electricity per month

• Adoption of e-buses for public transport network

• Strengthening e-vehicle ecosystem by supporting
Nari Shakti manufacturing and charging

Rise in Female Labour New scheme of biomanufacturing and bio-foundry to be

30 crore Mudra Yojana loans Force Participation Rate
disbursed to women entrepreneurs launched to support environment friendly alternatives
37.0 Per cent increase in Non-Fossil Fuel
Increased female enrolment in higher installed electricity capacity • >10 crore LPG connections
education by 28 per cent in 10 years released under PMUY
23.3 43.9
• 36.9 crore LED bulbs, 72.2
Per cent

% of Non-Fossil fuel installed

43 per cent of female enrolment in 32.3 lakh LED Tube lights, and
30.4
STEM courses 23.6 lakh Energy efficient

electricity capacity
fans distributed under
1 crore women assisted by 83 lakh UJALA
SHGs to become Lakhpati Didis 2017-18 2022-23 • 1.3 crore LED Street Lights
installed under SNLP
2004 2014 Nov-23
4 5
 Strategy for Amrit Kaal (2/5) Strategy for Amrit Kaal (3/5)
Infrastructure and Investment Inclusive Development (1/2)

Implementation of 3 major railway corridor programmes Aspirational District Programme to assist States in faster
under PM Gati Shakti-to improve logistics efficiency and development, including employment generation
reduce cost
Inclusive Development in Aspirational Districts (112)
Promotion of foreign investment via bilateral investment Number of enrolments under
% of Women registered for Pradhan Mantri Jeevan Jyoti
treaties to be negotiated Anti-Natal Care within First Bima Yojana (PMJJBY) per lakh
Trimester population
Expansion of existing airports and comprehensive 89 13195
development of new airports under UDAN scheme 68

Per cent

Number
Promotion of urban transformation via Metro rail and NaMo
Bharat
1737
Increase in Capital Expenditure Doubling of FDI Inflow
12 Capital Expenditure Capex as % of GDP 4 596 2018 Oct-23 2018 Oct-23
Capex as % of GDP

9 3
USD Billion
Rs. Lakh Crore

6 2 298 Health
3 1

Encourage Cervical Cancer Vaccination for girls (9-14 years)

0 0
FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25
(BE) (BE) 2005-14 2014-23
Saksham Anganwadi and Poshan 2.0 to be expedited for
Improvement in Physical Infrastructure improved nutrition delivery, early childhood care and
149
144634 development
97991
50394
581.3
720 74 U-WIN platform for immunisation efforts of Mission
25
22224 16 Indradhanush to be rolled out

FY15 FY22 FY15 FY22 FY15 FY22 FY15 FY22 FY15 FY22 Health cover under Ayushman Bharat scheme to be extended
National highways Cargo traffic at major Electrified rail route Aircraft movement (Mn Number of Airports to all ASHA, Angawadi workers and helpers
(Km) ports (Mn tonnes) (km) tonnes)
6 7
 Strategy for Amrit Kaal (4/5) Strategy for Amrit Kaal (5/5)
Inclusive Development (2/2) Agriculture and Food Processing

Government will promote private and public investment in

post-harvest activities
Housing
Increased allocation for
PMAY Application of Nano-DAP to be expanded in all agro-climatic
Pradhan Mantri Awas Yojana zones
(Grameen) close to achieving target
of 3 crore houses, additional 2 crore 80671 Atmanirbhar Oilseeds Abhiyaan-Strategy to be formulated to

₹ Crore
79590
targeted for next 5 years achieve atmanirbharta for oilseeds

Comprehensive programme for dairy development to be

Housing for Middle Class scheme to formulated
be launched to promote middle class 2023-24 2024-25
to buy/built their own houses (BE) (BE)
Implementation of Pradhan Mantri Matsaya Sampada Yojana
to be stepped up to enhance aquaculture productivity, double
exports and generate more employment opportunities
Tourism 5 Integrated Aquaparks to be set up

States will be encouraged to Increased allocation for PM-

undertake development of iconic Increased allocation for Formalisation of Micro Food
tourist centres to attract business and G20 meetings in 60 places Blue Revolution Processing Enterprises scheme
promote opportunities for local presented diversity of India to 2352 880
entrepreneurship global audience
639

Rs. Crore

Rs. Crore
2025
Long-term interest free loans to be Projects for port connectivity,
provided to States to encourage tourism infrastructure, and
development amenities will be taken up in
islands, including
2023-24 2024-25 2023-24 2024-25
Lakshadweep (BE) (BE)
(BE) (BE)
8 9
 Resilient Performance of the Indian Economy Achievements of Taxation Reforms

2.5
Declining CAD as % of GDP Declining Unemployment Rate Direct Tax Collections more than trebled in last 10
2.0
years
6.1
5.8
Per cent of GDP

1.5 4.8

1.0
4.2 4.1 Number of return filers swelled to 2.4 times

Per cent
3.2

0.5
Faster refunds: Reduction in average processing
0.0 time of returns from 93 days (2013-14) to 10 days
H1: FY24
FY14
FY15
FY16
FY17
FY18
FY19
FY20
FY21
FY22
FY23

(2023-24)
2017-18 2018-19 2019-20 2020-21 2021-22 2022-23

Declining GNPAs as % of 16000 Rising volume of Digital

Gross Advances Transactions Average monthly Gross GST
11.2 collections doubled to ₹1.66 lakh
Gross NPAs a % of Gross Advances

12000
Benefit to consumers:
9.3 9.1 crore in FY24
8.2 Reduction in logistics
Crore

7.5 7.3
5.8 8000
Increase in tax buoyancy of State cost and prices of most
4.3
3.8
3.2 revenue from 0.72 (2012-16) to 1.22 goods and services
4000 in the post-GST period (2017-23)
Sep-23
FY14

FY15

FY16

FY17

FY18

FY19

FY20

FY21

FY22

0
FY18 FY19 FY20 FY21 FY22 FY23 FY24
Positive sentiment about GST
Rise in average monthly gross Fall in Headline Inflation
• 94% industry leasers view transition to GST as largely positive
GST collections
9.4
• 80% of respondents feel GST has led to supply-chain optimisation
1.8
1.7 (As per a survey conducted by a leading consulting firm)
1.5
1.5 6.7
6.2
₹ Lakh Crore

5.8
5.5 5.5
1.2
Per cent

4.9 4.8
1.2 4.5 Decline in import release time since 2019 by: -
1.0 3.6 3.4
1.0 0.9
0.9
0.9
• 47 per cent at Inland Container Depots
• 28 per cent at Air Cargo complexes
0.6
• 27 per cent at Sea Ports
FY18

FY19

FY20

FY21

FY22

FY23

FY24

FY24*
FY14

FY15

FY16

FY17

FY18

FY19

FY20

FY21

FY22

FY23

10 11
 Tax Proposals Rupee Comes From
Income Tax
(19%)
Borrowing and Other
Continuity in taxation: Certain tax benefits to Liabilities (28%)
Start-ups and investments made by sovereign
wealth funds/pension funds, tax exemption of some Union Excise
IFSC units earlier expiring on 31.03.2024 extended Duties (5%)

up to 31.03.2025

Non-Tax Receipts (7%)

Withdrawal of outstanding direct tax demand: -
• Up to ₹25,000 pertaining up to FY10 Corporation tax
(17%)
Non-Debt Capital Receipts (1%)

• Up to ₹10,000 for FY11-FY15 Customs (4%)

GST and other taxes (18%)

Expected to benefit approx. 1 crore taxpayers Rupee Goes To

Pensions (4%)

Other Expenditure
(9%)
Interest Payments (20%)
Retention of same tax rates: - States' share of
• For direct and indirect taxes, including import Taxes and Duties
(20%)
duties
• For Corporate Taxes-22% for existing domestic
companies, 15% for certain new manufacturing
Finance Commission Centrally
companies and other transfers Sponsored
• No tax liability for taxpayers with income up to (8%) Schemes (8%)

₹7 lakh under the new tax regime

Subsidies (6%)
Central Sector Schemes
(16%)
12 Defence (8%) 13
Allocation for Specific Ministries Allocation to Major Schemes (in ₹ crore)

in ₹ Lakh Crore Mahatma Gandhi National Rural Ayushman Bharat-PMJAY

Employment Guarantee Scheme
Ministry of Defence 6.2

86,000

7500
60,000
Ministry of Road Transport and

7200
Highways
2.78

Ministry of Railways 2.55 2023-24(BE) 2024-25(BE) 2023-24(BE) 2024-25(BE)

Modified Programme for
Production Linked Incentive Development of Semi-
Ministry of Consumer Affairs, Scheme conductors and display
Food & Public Distribution
2.13 manufacturing ecosystem

6,200

6,903
Ministry of Home Affairs 2.03

4,645

3,000
Ministry of Rural
Development
1.77
2023-24(BE) 2024-25(BE) 2023-24(BE) 2024-25(BE)

Ministry of Chemicals and National Green Hydrogen

Fertilizers 1.68 Solar Power (Grid)
Mission

Ministry of
Communications 1.37

8,500

600
4,970

297
Ministry of Agriculture
and Farmer's Welfare 1.27
2023-24(BE) 2024-25(BE) 2023-24(BE) 2024-25(BE)
14 15
 Receipts and Expenditure

Revenue Receipts Capital Receipts

35 19
18.7
30.0
30
26.3 27.0

23.8 18.1
25
18 17.9

17.6
₹Lakh Crore

20

₹Lakh Crore
15

17
10

0 16
2022-23 2023-24 2023-24 2024-25 2022-23 2023-24 2023-24 2024-25
(Actuals) (BE) (RE) (BE) (Actuals) (BE) (RE) (BE)

Revenue Expenditure Effective Capital Expenditure

37 16
15.0
36.5
13.7
12.7

36 12
10.5
35.4
₹Lakh Crore
₹Lakh Crore

35.0
35 8
34.5

34 4

33 0
2022-23 2023-24 2023-24 2024-25 2022-23 2023-24 2023-24 2024-25
(Actuals) (BE) (RE) (BE) (Actuals) (BE) (RE) (BE)

16