Union Budget 2023: Change in outlays across sectors from Budget 2021 to 2022

Finance Minister Nirmala Sitharaman is all set to present her fifth budget before Parliament on February 1. This is the fifth and final full budget to be presented by the Modi 2.0 government ahead of the general elections in 2024.

As the nation waits for the much-anticipated Union Budget 2023, here is a look at the change in outlays across the major sectors from the 2021-22 budget to the 2022-23 budget.

Sector-wise outlay change from 2021-22 to 2022-23

Key features of Union Budget 2022

The Union government had said in 2022 that the aim of the Union Budget is to further India's aspirations in Amrit Kaal. The country would do so by focussing on three areas: 

1) Growth and all-inclusive welfare.

2) Promoting technology-enabled development, energy transition, and climate action.

3) Virtuous cycle starting from private investment, crowded in by public capital investment.

With these in mind, the government aimed to strengthen infrastructure with its focus on four priorities:

1) PM GatiShakti (Roads, Railways, Airports, Ports, Mass Transport, Waterways, and Logistics Infrastructure)

2) Inclusive Development

3) Productivity Enhancement & Investment, Sunrise opportunities, Energy Transition, and Climate Action

4) Financing of investments

Key highlights of Economic Survey 2023

On Tuesday, Finance Minister Nirmala Sitharaman tabled the Economic Survey 2023 before Parliament. The Economic Survey projected India's GDP for FY 24 to grow between 6 and 6.8 percent. The survey further said India's retail inflation is back within Reserve Bank of India's target range in November 2022. The survey also noted that the Indian rupee performed well in comparison to other emerging market economies April-December 2022.