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List the key announcements made in the Union Budget of 2023-24. In your opinion, does the budget strike a balance between its objectives of promoting growth through increased public investment and controlling the fiscal deficit? Comment.

Topic: Government Budgeting.

5. List the key announcements made in the Union Budget of 2023-24. In your opinion, does the budget strike a balance between its objectives of promoting growth through increased public investment and controlling the fiscal deficit? Comment. (250 words)

Difficulty level: Tough

Reference: Insights on India 

Why the question:

The question is part of the static syllabus of General studies paper – 1 and mentioned as part of Mission-2023 Secure timetable.

Key Demand of the question:

To write about the major announcements and potential of budget in balancing growth and fiscal stability.

Directive word: 

Comment– here we must express our knowledge and understanding of the issue and form an overall opinion thereupon.

Structure of the answer:

Introduction: 

Begin giving context of Union Budget of 2023-24.

Body:

In the first part, write about the major initiatives proposed in the Union Budget for 2023-24 – Atmanirbhar Clean Plant Program, Urban Infrastructure Development Fund (UIDF), Entity DigiLocker and Pradhan Mantri Kaushal Vikas Yojana 4.0 etc.

Next, write the measures enumerated in the budget in order to promote growth.

Next, write about the measures proposed in order to contain deficit and achieve fiscal stability.

Conclusion:

Conclude by writing a balanced opinion on the overall nature of the budget.