Budget 2023: Major boost to Railways, breakdown of allocation to various ministries

The yearly economic presentation, the Union Budget, was presented in the Parliament on Wednesday by finance minister Nirmala Sitharaman. Just like how a family or individual plans their expenses, the Budget sheds light on India's expenditure for the next fiscal.

The Budget also brings into play the amount allocated to individual ministries, which would be eventually utilised in working towards their respective aims and ambitions. However, before delving into which ministry received the most funds, it may be noted that the total expenditure in 2023-24 is estimated at Rs lakh crore.

Affordable housing gets push, PMAY allocated Rs 79,000 crore

Presenting the Union Budget on February 1, finance minister Nirmala Sitharaman said that the outlay of PMAY is being enhanced by 66 percent to over Rs 79,000 crore.

The Budget 2022 had allotted Rs 48,000 crore for the completion of 80 lakh houses under PMAY.

Launched in June 2015, PMAY aims to provide pucca houses with basic amenities to all eligible urban beneficiaries.

Ministry of Defence

Like last year, the highest allocation of Rs 5.94 lakh crore went to the Ministry of Defence. The funds for the ministry have been hiked from Rs 5.25 Lakh crore given in 2021.

Ministry of Road Transport and Highways

 Following Defence Ministry on the second spot is the Ministry of Road Transport and Highways with Rs 2.70 lakh crores alloted to the ministry. In last year's Budget, Ministry of Road Transport and Highways was placed third with Rs. 1.99 Lakh crore.

Highest ever outlay for Ministry of Railways

Centre announced a staggering Rs. 2.40 Lakh Crore which turns out to be the highest ever outlay - 9 times as compared to the budget allocated to Railways in 2013-14.

Ministry of Consumer Affairs, Food & Public Distribution 

Getting the fourth spot on the union budget with Rs. 2.06 lakh crore allocated to the Ministry of Consumer Affairs, Food & Public Distribution, saw a reduction in the budget as last year it was Rs. 2.17 lakh crore.

Ministry of Home Affairs

The Ministry of Home Affairs has dropped to the fourth place with funds amounting to Rs 1.96 lakh crore, which is a tad bit more than last year's number, Rs 1.85 lakh crore.

Ministry of Chemical and Fertilizers

The Ministry of Chemicals and Fertilisers bagged the sixth spot with an allocation of Rs 1.78 lakh crore, up from Rs 1.32 lakh crore allocated in 2022.

Ministry of Rural Development

 At seventh is the Ministry of Rural Development, which has got Rs 1.60 crore, more than from last budget's Rs 1.38 lakh crore. 

Ministry of Agricultural and Farmer's Welfare

At eighth is the Ministry of Agricultural and Farmer's Welfare, which has got a staggering allocation of Rs. 1.25 lakh crores.

Ministry of Communications

The allocation in the union budget for the Ministry of Communications has come up from Rs 84,587 crore to Rs. 1.23 lakh crore.