 Hi friends, we go for the Eugenia Union Budget 2023-24 in this first news article it is towards cooperative physical federalism, first you need to understand the term federation the very basic idea federation is in political level that is sharing of powers between different units in the government, right now if you take India as an example federal units consist of union government and state government. So, in that we have this term called cooperative physical federalism we will see what this cooperative physical federalism is, federations is based on this three major dimensions one is legislative dimension, administrative dimensions and fiscal dimension, fiscal dimension is primarily focused on finance. So, in that we go for this paragraph one and paragraph two. So, in paragraph one so regarding this cooperative physical federalism it speaks about the importance of cooperative physical federalism. So, the name itself says that federalism should be more based on cooperative nature especially in the concept of finance and this is being enhanced. So, the first paragraph says that being enhanced by means of fiscal decentralization. So, what this term stands for is fiscal decentralization speaks about the concept of one type of decentralization where the authority and responsibility is a technical aspects given to the lowest level. So, good example of understanding this decentralization is where there will be a upper body which gives the ultimate power if you want to put in very layman terms ultimate power to the lower body that is called decentralization that need to be done at the fiscal level that is called fiscal decentralization and next most important thing is distribution of revenue. So, to achieve this cooperative physical federalism. So, distribution of revenue is the most important aspect and especially that for sub national sub national governments. Here sub national government is nothing but state governments. So, so they are speaking about state governments and second paragraph speaks about. So, right now in India tax devolution. So, tax is one important source of revenue to the government as a common man we pay GST and if you are an employed person you pay income tax that is all the major source of revenue to the government and this tax devolution. So, tax devolution is sharing of taxes between union government and state government what the paragraph 2 says is it is entirely based on formulas. So, right now in India how taxes are being shared is based on formulas and it says not based on grants. So, it is common sense says that formulas as with certain clearly defined parameters based on which tax money is being shared grants is nothing but based on the ratio of the union level to share the money. So, it says that right now grants are being minimized it is entirely based on formula. So, what are the advantage of this is? So, if you are going to give the taxes to the state level it gives them greater flexibility. So, greater flexibility and autonomy. So, the importance of these two term is especially in the aspect of expenditure. So, the importance of this term is greater flexibility and autonomy because of sharing the tax revenues with the state. State can spend their money for their needs that is the most important thing that gives them flexibility where they want to spend the money because each state has its own unique problems to give a better understanding of this. For example, if you take states like Arunachal Pradesh which is a border state which has its own unique set of problems when compared with Chhattisgarh. So, which gives a greater flexibility and autonomy when you are sharing the tax revenues with them especially based on formulas. So, that is the point it is they have given. Now also in this paragraph 2 it speaks about this union budget. So, union budget 20, 23, 24 and it said that rupees 1.3 crores it is given actually it should be 1.3 lakh crore. So, 3 crore allocated as a financial assistance for states for capital expenditures this is another most important thing. So, in this budget recently the union government has allocated around 1.3 lakh crores for all the state governments combined where they can spend the money for capital expenditure. What is capital expenditure is if you want to put in very layman terms that is nothing but asset creation. So, the advantage of asset creation that helps in reviving the economy that has all the positive impacts in the economy that is called capital expenditures. In economy there are two types of expenditure one is revenue expenditure another one is a capital expenditure and one is revenue expenditure is which is recurring expenditures for example salary for government employees that is a revenue expenditure which does not have a direct impact on the economy though it creates demand in the economy but it not results in increased productivity of this system whereas assume that if some if government is creating a port or road networks it has a direct impact on the economy. So, capital expenditures in this budget 1.3 lakh crores is being given and that is given in this paragraph 2. Next we go for paragraph 1, paragraph 2, paragraph 3, paragraph 4 and 5. So, in this paragraph 1 it speaks about fiscal federalism just giving a basic understanding of fiscal federalism. So, fiscal federalism relates with fiscal relations. So, fiscal means simply put as finance financial relations financial relations with various government units. So, this is nothing but union government and state governments that is what it says paragraph 1 and paragraph 2 speaks about constitutional aspect of taxation, taxation and constitutional provisions. So, right now regarding taxation there are constitutional articles related to that that is being highlighted here that is article 246, 246A and 7 schedule. So, this unit understand 7 schedule. So, these are part of our Indian constitution. So, it is all speaks about taxation dimensions whereas in paragraph 3 it says about importance of balancing fiscal dimensions. So, for fiscal balances as we know that revenues need to be shared between union and state to achieve this fiscal balance right now in Indian constitution we have this office called finance commission. So, that is given in this paragraph 3 and paragraph 4 speaks about the office of finance commission. So, finance commission is part of article 280 is given in Indian constitution. So, in this it is primary focus of finance commissioners distribution of taxes. So, finance commission determines the principles on which taxes need to be distributed that is between union government and state government that is a primary role of them and also principles for determining grant in aid. So, how grant need to be get to state is also being decided by this and especially all these are done under consolidated fund of India, consolidated fund of India. There is one type of fund simply of saying what is consolidated fund is assume as an individual we have different bank accounts like saving banks or so different bank accounts we have correct and current account all these things similarly like this for government they have certain accounts one such is consolidated fund of India. So, mostly this finance commission's recommendations are all focused on this consolidated fund of India and also it focuses on this fiscal imbalance is not only at vertical level. So, vertical imbalance is primarily focused on or achieving physical vertical balances between union government and state government and horizontal balance. So, horizontal balance between state governments and state governments. So, right now we have 28 state governments how this money need to be distributed between state government is also determined by finance commission. So, that is given here and especially focusing on mostly focusing on how this horizontal balance is being achieved is it is also given here based on state capacities this is what we called as formula based state capacities cost needed. So, different state has different costs and also efficiency. So, all these factors are taken into consideration next paragraph 5. So, paragraph 5 speaks about the importance of this cooperative federalism and speaks about the current government. So, right now the current prime minister of India spoke about the importance of this cooperative federalism by giving this terms like drivers of transforming India and what is being referred by the prime ministers he is referring about the states. He says that Indian governments that is especially union government thinks that India's development is not based on union government it is primarily focused on states. So, drivers of transforming India that is what the prime ministers view point is that speaks with the concept of cooperative federalism. Next paragraph 1, paragraph 2, paragraph 3 and 4. So, in paragraph 1 it gives some financial data for it. So, right now we can see that annual transfers it is given in percentage terms. So, right now money is being transferred from union government to state governments. So, annual transfers for from 2013-14 that is the present party coming into power to 2021-22. So, there they have taken to time period. So, that was 4.7 percentage of GDP. So, in 2013-14 annual transfers from union government to state government was around 4.7 percentage of GDP right now that is around 6.7 percentage of GDP. You can see the increase in the transfers annual transfers from union government to state government this clearly shows with the commitment of cooperative federalism and total transfers if you want to put that in some economic terms. So, economic terms it is 5.2 lakh crore. So, currently it is equivalent to 15 lakh crore. So, you can see that numbers which clearly shows that greater commitments towards cooperative federalism that is going in paragraph 1 and paragraph 2 speaks about this 14th finance commission. So, finance commissions are created based on the constitutional norms and 14th finance commission was the right now the current as 15th finance commission 14th finance commission is there right now next finance commission's times is changed because of this COVID impact 14th finance commission. So, there are some other data that is central so divisible pool increase from 32 percentage to 42 percentage. If you want to put in very layman terms before 14th finance commission until 13th finance commission what was the maximum distribution was 32 percentage if 100 rupees need to be shared 30 to 32 rupees goes to the states remaining thing remains with the union government. But after 14th finance commission that number was increased to 42 percentage out of 100 rupees 42 rupees goes to the states remaining goes to the union level. From number point of it seems to be small, but if you want to put that into real value of money you can see that it is a large money given to the states just 10 percentage increase gives lot of money to the state governments where they can focus on the development. So, that clearly shows the commitment to the cooperative federalism that is given in paragraph 2. In paragraph 3 it speaks about decentralization. So, we already saw that physical federalism is based on decentralization of physical architectures. Physical architectures are nothing but the process and institutions right now in India there are lot of new mechanisms are created so that there will be a lot of physical decentralization that is given in paragraph 3 and paragraph 4 speaks about autonomy that is great of states are given greater autonomy last 10 years greater autonomy and flexibility we will see that some information is based on it in the physical dimensions and they can focus on their own priorities. So, state governments can focus on their own priorities as every states has its own set of needs and this helps by means of physical decentralization that is given in paragraph 4 paragraph 1, 2, 3 and 4. So, in paragraph 1 we already saw that physical decentralization that is achieved through reworking on physical architecture one is this one Nithya Yog. So, right now in India they have created this Nithya Yog and Nithya Yog is a platform for states to act together. So, Nithya Yog is one such institution which acts as a platform for states to act together at the union level and also right now we can see that expenditures are classified into capital and revenue expenditures. So, we already saw what is expenditures called capital and revenue expenditures why this classification is important is previous of Nithya Yog was called as planning commission. So, planning commission was the predecessor of Nithya Yog that is previously it was called as planning commission they have classified expenditure as planned expenditure and non-planned expenditures. This clearly gave the upper hand for planning commission which becomes the most important institutions where planning commission was ultimately controlled by union government. To certite all these things only right now they created Nithya Yog and change the entire model of systems and they have created this mechanism that is given in paragraph one and paragraph two speaks about this centrally sponsored schemes very basic understanding of centrally sponsored schemes are these are the schemes created by union government on state subject which is part of seven schedule. What is state subject is as per seven schedule there are certain subjects only handled by state government that is the principle of federation. So, in Indian federation centrally sponsored schemes are the schemes created by union government especially on state subjects and concurrent list primarily focused on state subjects where there is funds are being given based on sharing between union and state. So, centrally sponsored schemes was highly criticized because it is creating a input or creating a over hand of union government on state subjects. So, right now it is in regarding centrally sponsored schemes we have this 28 umbrella schemes. So, 28 umbrella schemes which is reduced which is being reduced and six core of core schemes and 20 core schemes and two optional schemes. So, you can get the number of 28. So, that is being there. So, previously there are a lot of centrally sponsored schemes and that has been set right through this rationalizing of centrally sponsored scheme totally we have this 28 schemes right now in India. What are the advantage of reducing this is more money is given to the state governments because under the centrally sponsored scheme whenever union government want to give the money they give lot of conditions for it which cannot be equated with all the states because every state is unique they cannot match all the conditions. So, most of the time they will not get the funds to avoid that only they minimized all the centrally sponsored scheme and they gave money directly to the states. So, they can spend the money on their own wish whereas paragraph 3 speaks about this concept of GST. So, GST is one important structural reforms structural reforms in indirect taxes. So, structural reforms in indirect taxes and in this the most important thing about this GST council where two third of total votes come from state governments. So, this clearly shows the importance of cooperative federalism where GST council GST is a new indirect taxes in India and to implement this GST rates and all we have this to decide GST rates we have this GST council where state and union governments are combined in that and mostly finance ministers of state government and union government where two third of voting rights two third of the vote weightage is always the state government. So, that is given there and GST has a very positive impact in our Indian system and paragraph 4 speaks about the importance of capital expenditure. So, we already saw in the previous pages what is capital expenditure is and what are the biggest benefit of capital expenditure for any economies it has this multiplier effect. So, what is multiplier effect means whenever this capital expenditure is done it has a very positive impact on the society and the economy and they found out that for short term. So, multiplier effect is 2.45 and you go for long term it is 4.8. So, assume that what is short term and long term impact is. So, I take an example if a port is being created because of port what are the biggest advantages it creates lot of economic revival and also direct in direct employment short term is for example, certain industries because of port activity can benefit a lot for example, if there is a construction activities going on there will be a demand for steel cement and all those things that is a short term what is the long term is that creates an economic ecosystem across the ports in long term that benefits the society and also the economy. So, that is a long term impact that is called multiplier effect. So, that is given in this paragraph 4 next paragraph 1. So, paragraph 2, paragraph 3, paragraph 4 and paragraph 5. So, in paragraph 1 so, it speaks about the concept of special assistance again related to this capital expenditure special assistance 2 states for capital expenditure. So, this was in the year of 2021 that is in the budget of 2020-21 and for that around 12000 crore was allocated for state governments by union government the name itself we can understand special assistance to states that is going in paragraph 1. So, in this what they have given is 50 years interest free loans 50 year interest free loans. So, and mostly this money need to be spent for capital expenditures this is given to the states. So, that is gives about paragraph 1 and this paragraph 2 speaks about the importance of this particular scheme that is flexibility to states. So, states can create their own programs and choose the projects choosing the projects. So, just money will be given by union level and they can choose the projects as per their needs needs of the state. So, that is given in paragraph 2 whereas, paragraph 3 speaks about the importance of this program being extended. So, whereas in the year of 2021-22 the budget previous was 2020-21 here this 2021 and 2022 where 15000 crore was allocated for the same program or for the same scheme 15000 crore was allocated where state governments are very happy that government is giving extra money for their capital expenditures and also the importance of flexibility and this basically shows the concept of cooperative fatalism. So, that is given in paragraph 3 and paragraph 4 we can see that the name was the scheme was being renamed that is scheme for financial assistance to the states for capital investments previously special assistance that was the name. So, they say that some assistance need to be given in 2020 and 2021 right now it was said as a scheme. So, they have made it as a scheme a full-fledged scheme in that time very 1 lakh crore was allocated. So, 1 lakh crore you can see jump in the allocation from 15000 crores it was increased to 1 lakh crore based on 15th finance commission recommendation 80000 crore was allocated for the states and remaining 20000. So, in this most important thing is 20000 crore allocation for states is based on incentives based what is incentive based means this 20000 crore projects can be accounted to only if they focus on certain reforms that is citizen centric reforms we will see that later I think you are able to understand if 1 lakh crore need to be allocated for the expenditures capital expenditures of state that 20000 crore is entirely based on incentives that incentives nothing but they need to reform the systems at the state level. So, that attracts more investments that is given in paragraph 4 and paragraph 5. So, primarily focus on the current budget it says that under the scheme right now 1.3 lakh crore is being allocated again 30000 crore is being enhanced and in this what are this aspect of this reforms this that is incentive based allocation is for example, urban planning reforms if a state is focusing on urban planning reforms the extra money is being allocated similarly reforms financing reforms in local bodies local bodies is nothing but panchayats and municipalities panchayats and municipalities and for example, construction of unity mall. So, unity mall be constructed in each state if this is being done money will be extra allocated for it and scrapping of old vehicles. So, all this have an impact on the system so that is why union government is giving a greater focus on it. So, that is given in this paragraph 5 and also police personnel reforms and creating libraries that is all given here whereas here in paragraph 1 another thing is regarding paragraph 1 regarding borrowing limits and you know that providing funds for state cannot be done only by union government. So, there are some borrowing permissions are given to the states so that is the data is being given. So, right now based on the financial year of 2021 state were authorized for borrowing limit of 2 percentage of gross state domestic product. So, until the maximum value of 2 percentage of gross state domestic product they can get the money from the markets that reaches to the value of 4.27 lakh crores. This is the money they can borrow from the market that is a permission given by the state union government and so and also union government raised an amount in 2021-22. So, union government also raised an amount of 1.5 lakh crores so through this window. So, they have raised the money through this window which can be allocated for states. So, that is given in this paragraph 1. So, next we go for social sector allocations. So, in that paragraph 1 so paragraph 2 paragraph 3. So, in paragraph 1 regarding social sector social sectors in any country's infrastructures can be classified into social infrastructures and physical infrastructures. In that social infrastructures speaks about education, health whereas physical infrastructures speaks about road, rail networks, port networks. So, in this article we are focusing on social sectors. So, in capital expenditure and we already saw what is capital expenditure is in this budget for financial year 2023-24. So, very close to 4.2 lakh crores 4.26 lakh crores that is from the year of 2021, 2020 and 2021 that was the capital expenditure for the year of financial year of 2020 and 2021. Right now in this it is increased to rupees 10 lakh crores rupees 10 lakh crores this clearly shows that there are a lot of money allocated by the government for capital expenditures. And in this 1.3 lakh crores allocated for states that is interest free loans. So, this is given in paragraph 1 and paragraph 2 and primary focus of this is better quality of living. So, why this money is being spent by government for capital expenditure is better quality of living this includes life of dignity. So, you will see what is life of dignity is. So, every individual while living in India as a citizen they should have a dignified life we will see that what is the thing is an expansion of economy expansion of economy expansion of economy. And right now they say that per capita income in India has increased a lot per capita income is per individual how much money they are earning this rupees 1.97 lakh crore 1.97 lakh crore. To understand how it is increased is during the time of independence per capita income was 300 rupees or something right now we can see how much jump it has even though population has increased so much we are able to have a per capita income of on point very close to 2 lakh rupees not 2 lakh crores 2 lakh rupees. And in paragraph 3 social sector spending right from the year of 2015 to 16 annual growth rate. So, annual growth rate what is annual growth rate is around 14 percentage what we understand from this data is right from 2015 to 16 every year union government expenditure on social sector is increasing 14 percentage every year. Assume that this year they are spending 100 rupees means next year will be 114 rupees after that for this 114 rupees another 14 percentage will be founded out. This clearly shows the commitment of the government to focus on social sector that is going in paragraph 3 and to understand the aspect of the social sector expenditures in paragraph 3 also we can see that under switch Bharat mission this are some of the data under switch Bharat mission around 11 lakh crore household toilets is being constructed household toilets being constructed. So, the importance of construction of toilets there are multiple dimension in it one is first and foremost thing it improves the hygiene of the family second is it gives dignity for the women and third one is security of women so all this are being taken care. So, that is given here this paragraph 1 2 3 4 5. So, in paragraph 1 some of the other data are given here for example under this LPG connections under Ujjwala scheme LPG connections 9.6 crore beneficiaries are there. So, 9.6 crore beneficiaries are there under Ujjwala scheme by giving LPG connections and under this Jandhan Yojana so Jandhan that is opening bank account right now around 47 crore people have opened the bank account this is all related to social sector and apart from this and which is resulted in 2.2 lakh crores being 2.2 lakh crore is being given through this Jandhan accounts and also we have this 11 crore formers under PM Kisan so 11 crore formers benefitted. So, these are the data which you can use it for your answer writing whereas in paragraph 2 regarding health some data are given health. So, in the year of 2020-23 so health expenditure is around 2.1 percentage of GDP. So, previously it was around 1.4 percentage of GDP. So, there is increase in health expenditure by the government and some of the schemes are given in paragraph 3 that is one is Ashman Bharat Pradhan Mandir Jan Aarogya Yojana. So, Ashman Bharat Pradhan Mandir Jan Aarogya Yojana. Data are given so it is a flagship program and one of the most important thing is for each family 5 crore 5 lakh rupees insurance for each family per year. So, right now in India for each family per year 5 lakh crore is being insured and as where this happens is especially at secondary and tertiary care for a secondary and tertiary care is simple to say in layman terms is speciality and multi-speciality multi-speciality hospitals. If an individual is going for any treatment in speciality and multi-speciality hospitals that is secondary and tertiary treatments right now under this Ashman Bharat scheme 5 lakh rupees being insured for each Indians. So, that is given in paragraph 3 and paragraph 4 speaks about the importance of health. It says that in India there is a requirement of nurses this data you can use it for your answer writing that is around 4.2 million nurses required for 1.4 billion population. So, we need to train lot of nurses in India that is the data is given here and paragraph 5 speaks about the importance of nutrition when we say health nutrition is also part of it under this aspiration aspirational block program. This is a new program being part of our system. So, operational block is within the district there are certain jurisdiction limit that is called block. So, in this they are focusing on nutritional development that is given in paragraph 5 that is paragraph 1, 2, 3, 4, 5, 6, 1, 7. So, in paragraph 1 it is primarily focused on the previous aspect of nutrition. So, we are providing various services to improve nutrition whereas in paragraph 2 it speaks about this Pradhan Mandri, Kareeb Kalyan and Naayojna where 2 lakh crore is being spent and for providing nutritional security along with food security nutritional food security and for the beneficiaries around 80 crore persons in India for 28 months especially during lockdown and corona we can see the schemes benefited Indians a lot and national family health survey this is another important indicator national family health survey that is 2019, 21 speaks about the nutritional deficiency and they say that under 5 under 5 children's around 19 percentage because of nutritional deficiency they come under the category of wasting and 35 percentage stunted. So, what is stunted means not to the required growth level for their age that is called stunted. So, these are the data is given by national family health survey. So, that is paragraph 2 and paragraph 3 speaks about their focus of improving in nutrition right now it is integrated child development scheme is called as Poshan 2.0 and the money of 20,000 crore is being allocated Poshan 2.0 especially focusing on this problem that is given in paragraph 3 and paragraph 4 speaks about the importance of education education and right now in this budget around 1.1 to lakh crore is being allocated for education and also primarily in this 68,000 crore is allocated for school education. So, these are some of the data's school education. So, whereas in paragraph 5 it speaks about this IGOT that is integrated online training platform training platform for government officials this is also part of education government officials. So, they are being trained through online mechanisms to face the problems of to train them to face the problems of modern day India. So, that is part of this paragraph 5 and paragraph 6 speaks about aspirational blocks and especially focusing on education aspirational blocks right now they focus on education a lot education and also in paragraph 7 it speaks about PM Vikas. So, paragraph 7 it is Pradhan Mandiri Vishwakarma Kaushal Summon especially focusing on artisans artisans and crafts people this program is focused on the well-being of artisan and crafts people that is given in paragraph 7 and they are able to improve the value of them. So, paragraph 1 paragraph 2 paragraph 3 in paragraph 1 it speaks about green growth the name itself shows green growth means focusing on India's commitment to sustainable development and paragraph 1 speaks about the importance of nationally determined contribution where India want to be a net zero emission. So, net zero emission by 2017. So, what this net zero emission means right now one of the primary reason for global warming is greenhouse gas emissions and that need to be reached to the level of zero by 2017 as per India's own determined goal. National determined contribution means Indian government has its own set of goals saying that India by 2017 will not emit any greenhouse gases that is the point given there and to achieve this we need to focus on green fuel, green energy, green energy and we have this green mobility and green buildings and green equipments. So, right now we can see that Indian government is working on all these areas for example if we take green fuel right now government is focusing on this national green hydrogen mission. So, green energy right now we are focusing so green mobility is electric vehicle green building codes are being created. So, these are all the primary focus of the government in that and also they have given this national green mission by 2030 annual production need to be reached by national green mission, green hydrogen mission. There is new form of energy sources and there is a target by 2030 you want to reach to 5 million metric tons. So, whereas paragraph 2 speaks about this Pradhan Mandari Pranam it is a new scheme focusing on alternative fertilizers alternative fertilizers and also focusing on 500 ways to wealth converting ways to wealth and which is being established under Govardhan scheme. So, these are all the focus of government towards green growth and paragraph 3 speaks about this agriculture accelerator fund agriculture accelerator fund and the name itself says it is a fund primarily focused on startups in agriculture and what are the primary focuses providing youth employment and also youth entrepreneurship youth employment and youth entrepreneurship especially for rural youths and 20 lakh crore as credit is given for credit by banks are given for agriculture and its allied sectors for development of cooperative systems paragraph 1, 2 and 3. So, in paragraph 1 it speaks about this Pradhan Mandari this is a scheme focusing on investing on fisheries around 6000 crore 6000 crore is being allocated for fisheries and paragraph 2 speaks about Pradhan Mandari Avas Yojana that is Graman it is regarding rural housing there is a lot of attachments to it and at this they are focusing on toilets water connections drinking water connections. So, this all improves the quality of life and also dignity of individuals. So, that is being given and also it is also include cooking gas all a part of it. So, whereas paragraph 3 speaks about this Jandan Yojana that is they call it as jam trinity. So, jam trinity which increases the efficiency of the government jam trinity stands for Jandan Yojana Adar and mobile which increases the efficiency of government to reach the beneficiaries. So, next article is strengthening financial sector so in this we go for paragraph 1 and paragraph 2. So, in this paragraph 1 it speaks about the importance of GDP growth. So, GDP growth of Indian economy was around 7 percentage in 2022 and 23. So, whenever you want to focus on the economy of the country and its well-being it is not only based on GDP growth apart from this we need to focus on other parameters like inflation. Inflation at the same period was around 6.8 percentage in India and fiscal deficit fiscal deficits around 6.4 percentage. So, these are the important indicators to measure the health of an economy a GDP inflation and fiscal deficit and India need to be considered to be the third largest economy in the aspect of purchasing power parity it is around US dollar 10 trillion. Size wise it is not the it is fifth one, but if we take purchasing power parity it is a third position that is 10 trillion dollars that is going in paragraph 1 some of the important economic data. In paragraph 2 speaks about this RBI issuing digital currency that is an innovation so digital currency near of 2023-24 they are going to focus more on this new innovation. What are the importance of digital currency is increasing productive efficiency increasing productive efficiency and also focusing on global competitiveness global competitiveness. Okay and this helps in ease of doing business and we go for this paragraph 1 paragraph 2 paragraph 3 in paragraph 1 so it speaks about or list out the financial inclusion measures in India. So, there are various programs for financial inclusion starting with Pradhan Mandri Jandan Yojna apart from this we have this Aishman Bharat apart from this we have this Pradhan Mandri Jeevan Bhima Yojna and Adar linked schemes all these are the different dimensions of financial inclusion measures whereas paragraph 2 which speaks about the importance of post office banking right now around 1.5 lakh post offices is part of this core banking so this also provides financial inclusion and also right now we have 75 digital banking units so digital banking units in 75 districts 75 districts of schedule commercial banks 75 districts of schedule commercial banks and again jam trend is being focused here so jam to net so these are some of the measures to enhance financial inclusion and also in paragraph 3 for social safety through finance especially for women so they have this Mahila, Samman, Bachchad Patra so this gives some income insurance so through small savings for small savings for women with good interests being given so women and focusing on women small savings for women so right now government is encouraging that paragraph 1, 2 and 3 it is in paragraph 1 it speaks about the importance of capital markets capital markets popularly called as sharp markets and mutual funds so the advantage in this is where corporates corporates can easily raise money through capital markets so it enhances people's participation people's participation in economic development through owning shares of the company's economic development so the development is being broad based and also this source of income for people especially through dividends so that is going in paragraph 1 and paragraph 2 speaks about this insolvency and bankruptcy act and especially to strengthen credit us and also to protect the money so insolvency and bankruptcy code is it doesn't mean that all the time business runs well if there is any issues in the business how to resolve that problem and how to smoothly close the business which is beneficial for everyone that's insolvency and bankruptcy act and also in paragraph 3 it speaks about national financial information registry so right now they are creating this database of financial information so that is going in paragraph 3 next paragraph 1, 2, 3 so in paragraph 1 so what are different initiatives taken in India to make sure that so a lot of positive impacts on the system right from agricultural credit green credit so these are some of the terms here green credit unity mall unity mall so this are the reasons some of the initiatives in India by the government to promote our development process and also e-passports e-passports so these are some of the data as you can use it for your answer writing e-passports and battery swapping technology or battery swapping policy so battery swap swapping policy this is regarding e-vehicles land records management land records management it all have positive impact on the people's life land records management and also 10 days of clearing bills 10 days of clearing government bills so if government want to give money government want to give money to any private place or anything government has said the rules like 10 days within that they want to clear the bills that is also part of it and 5g mobile services 5g mobile services being promoted in India and especially in rural areas so this paragraph primarily focused on paragraph 1 and 2 primarily focused on for last three to four years what are the important initiatives taken in India and paragraph 3 speaks about the importance of capital expenditure again capital expenditure the data is given so around 13 lakh crore is being allocated for this 13 lakh crore in this budget for capital expenditure that is financially at 2023 2024 and also 50 years for state governments 50 years interest free loans 50 years interest free loans so that is given to spur infrastructure economic development of the states and paragraph 1 last one that is which says about this foreign exchange reserves foreign reserves so right now its number is around 563 billion 563 563 billion and 50 billions given as loans to other countries this clearly shows that India is a most favored nation for investments most favored nation for investments thank you