 Hi friends, we go for Yojna Union Budget 2023-2024 in that the article is Skills, Employment, Unhuman Resources Development. This we have this paragraph 1, paragraph 2 and paragraph 3. And paragraph 1 speaks about the recent aspect of jobs and its evolution so as per World Economic Forum 2020 report. So what the information says is so regarding this job there are two major shifts happened that is labour shift. So what they found out is one is the aspect of automation. Simple to understand automation is use of machines in work process that is called automation. So great example of automation is right now there are lot of talks about the concept like driverless cars. These are good examples of automation. So automation is one and next one is economic uncertainty, economic uncertainty. So this was the reference about corona they are speaking about and what impact is because of this two reasons as a loss of 85 million jobs is being displaced and another data is 97 million new jobs being created. It is 97 million jobs created by 2025. So this is what the data says as per this report it is found out that 85 million jobs is lost because of these two reasons and 97 million new jobs being created. And so that comes in necessity for new workforce. So to be and a part of this new workforce simple to say that if you want to get an employment what this point says is so that should be more focus on agile, adaptable, agile, adaptable and upskill. Say any employee need to focus on these three aspects one is you should be more adaptable to the changing requirements and also ready to learn lot of new things that is agile and also upskill you need to move to the next level so that you get the employment especially under this 97 million new jobs that is going paragraph one and paragraph two speaks about the Indian population so India has the largest youth population so largest youth population that is around 66 percentage of Indian population is youth if you want to put in numbers that is 808 million and what constitute youth is below 35 years. So around out of 100 people around 66 people are below 35 years in India that is given here this also said that Indian workforce to grow 8 million per annum so 1 million is around 10 lakhs around 80 lakhs people are going to be added every year into the workforce that the data is given so it is going to be India is going to have lot of youthful population for work and paragraph three says about the current status of job market around 50 percentage of undergraduate engineers so undergraduate engineering capacity lies unutilized so seats are not filling in colleges unutilized capacities and also low return on investments of time and money so the primary reasons why people are not focusing in is low return on investments return on investment is both time and money so what people feel is if they study engineering so what in return they are getting they are very minimal and there comes a need to focus on skill development and vocational education and if you want to understand very common way of understanding vocational education is like plumbing and all those things all it a electrician job all this things come the electrician grade all comes under this concept that is given in this page paragraph one paragraph two paragraph three and paragraph four so in paragraph one it speaks about new education policy 2020 so so new education policy want to rework all our educational system and if primarily focused on creation of national higher education qualification framework so national higher education qualification framework and they are primarily focused on collaborating or coordinating with national skill qualification framework so this primary reason of this point is it really highlights the importance of addressing the previous pages problems so right now new education policy is creating this so that is given in paragraph one and paragraph two so the vision is to make India skill capital of the world India skill capital of the world that is a primary intention of the government skill capital of the world and so here we can see that focusing on speeding this process to achieve in larger scale and also standardization so this is the primary focus of the government to achieve the skill development and for that they are going to use various states central governments and public sector organization public private organizations union government state government and private organizations is going to play the lead role in this that is given in paragraph two and paragraph three so right now in higher education especially in budget for higher education there is increase of eight percentage and another most important factors and 85 percentage primarily goes for skill development so this we can relate with the previous point so as government is trying to make India's skill developed or make India's skill capital of the world so in higher education lot of money is focused on skill development okay so that is given in paragraph three and paragraph four so the schemes right now focused on that thing is so Prathana Manthri Kausal Kendra and Jan Sikshan Sansthan Jan Sikshan Sansthan and national institute for of electronics and information technology electronics and information technology so these are all primarily focused on creating skill ecosystem focusing on creating skill ecosystem so that is given in this page and apart from this industry 4.0 and automation will create lot of new opportunities that is given there that is industrial revolution 4.0 on automation automation so creating new jobs creating new jobs next we go for paragraph one so paragraph two paragraph three and paragraph four and so they say that because of industrial revolution automation robots are going to play a major role in that is the first two lines of it so in paragraph one so government has introduced especially union government has introduced 30 India's international skill centers India's international skill centers and especially to learn global skills so what the skill required at global level so government is creating this 30 India international skill centers so people can learn in that and next one also there is focus on paragraph two focus on Prathana Manthri Vikas so Vikas is Vishwakarma Kausal Samman so especially focusing on traditional artitions traditional artitions and crafts persons crafts people so they have primarily focused on improving the quality scale quality scale and reach of their products this is all related to traditional skills so right now government is also promoting this traditional skills for that they have created a program called PM Vikas whereas paragraph three speaks about so a theme called so they go up Nadesh especially job and tourism sector so for youth for youth they are focusing on job and tourism sector tourism sector that speaks about this paragraph three which is also required a skill in hospitality and paragraph four so it speaks about this national apprentice training scheme where 400 crores is allocated by the government and especially focusing on acuping technically qualified youth with skills and also they have the sungalp that is skill acquisition sungalp skill acquisition and knowledge awareness for livelihood promotions and also they have this strive that is skill strengthening for industrial value enhancement and primarily all focus on skill development primarily focused on skill development so that is the focus of it so that is going in paragraph four next paragraph one paragraph two three and paragraph four so in paragraph one it speaks about the district institute of education train properly called as diet and they are going to focus on transforming diet as center of excellence center of excellence to make teachers diet's primary focus to train teachers to make them 21st century ready 21st century ready teachers so they are going to change all these things in diet institutions so they are going to focus on ICT so innovative pedagogy that's a way of teaching children's so what government is saying by thinking is to make a person skilled and innovative it needs to start from schools for that they need to focus on teachers that is the point given in paragraph one and paragraph two speaks about Pratanamandri Kausal Vikas Yojana so it's primarily focused on skilled workforce skilled workforce and so they are they are focusing on new age skills new age skills such as coding AI robotics robotics and 3d printing drones etc so they are going to focus on this under this Pratanamandri Kausal Vikas Yojana whereas in paragraph three focuses on primarily that is they given the year of 2020 around 50 percentage of school students school and higher education exposed to vocational education so they are saying that they are going to focus on vocational education again developing skills for the individuals that's given paragraph three and as education is a concurrent list so that should be effective cooperation there's another point this can be from plumes point of your education it's a concurrent list so what is concurrent list is it's parts of the it is part of the constitution in constitution that's schedule called seven schedule it says what is the power of union government and state government in legislative matters so education is a concurrent list which means both union government and state government can work so as education is concurrent list any transformation education should be a coordinated effort between union government and state government both need to work that's given in paragraph three and paragraph four speaks about the importance of agility critical reasoning agility critical reasoning creative thinking so this is all required for individuals and resilience for modern day errat challenges and especially to use all the new technologies what we have listed out like AI robot takes 3d printing all this required this aspects and so that is the requirement for youth this is the requirement of youth of the country and one is so as India want to become 5 trillion economy by 2025 so skill development is the primary requirement so India's target of 2025 that is we want to become a US dollar 5 trillion economy to achieve this we want to do primarily focused on skill development so next article is sub kassat and sub kavikas through union budget so that we go for this paragraph one paragraph two paragraph three and paragraph four so in paragraph one it speaks about the concept of inclusive development so what is inclusive development is primarily focused on social dimensions in any society there'll be always a social hierarchy or social divide so any countries government's primary focus is focusing on inclusive development that is given here so inclusive development is primarily focused on marginalized sections focused on marginalized sections and excluded groups so who constitute all this aspect is it's primarily focused on SCSTs women in India so that is a group they call it as so this all focus on India's development that is given in paragraph one and paragraph two which speaks about women so in that they focus on gender budgeting so gender budgeting is part of inclusive development so gender budgeting is focusing on women in development so gender budgeting is a tool right now used by the government in every budget to showcase in every ministries what are the schemes created for women so that's a part of this that's going paragraph two and paragraph three why we need to focus on women they given some reasons for it that is 48 percentage of Indian population so 48 percentage of Indian population is women so that should be always women centric development that is given and mostly women can lack in all this so they have lack of opportunities women lack opportunities in the aspect of health education health education economic opportunities etc this we can see in most of our families where women are being denied these opportunities take example of education many family a male child is always prefer for professional education when compared with the female and similarly health aspect you can see that nutrition primarily in any family in any Indian family especially conservative families nutritional opportunities are very high for male when compared with the female these are all part of this so that's the reason why we need to focus on them next thing is paragraph four speaks about the concept of upskilling so this we already saw in the previous article that is 30 international centers so international centers were created in India for upskilling the people so that is given in paragraph four so paragraph one two three four and five so in paragraph one so right now they speak about women's development that Mahila someone saving certificate so Mahila this opportunity is given for women in India someone saving certificate so as per the certificate what is the norm is so maximum of two lakhs so maximum two lakhs can be given in the name of women and tenure is for two years two years and interest rate is around 7.5 percentage it's a fixed interest rate is given by the government so and also partial withdrawal partial withdrawal so this is increasing creating economic opportunities for women and especially they should be in the name of a women and these are the conditions given for this particular certificate so this encourages women to save more money in financial systems because compared to the open market the interest rates are high so women can also get recognition the family because on their name money is being deposited so that is given in paragraph one and paragraph two speaks about MIS accounts this MIS accounts can be opened by individual and also jointly by three adults or guardians are beyond behalf of the minor okay so this is again related to minors minor especially by guardian guardian or single individual single and what they have said is interest rate is given 7.1 percentage per annum and also investment in multiples of thousand and interest rate is interest rate is 7.1 percentage so this is another scheme especially focusing on weaker section given in paragraph two paragraph three this speak about the importance of cooperative sector so cooperative sector and this is where we can see especially in rural areas and weaker sections are playing a major role in it and weaker section includes women CSTs all part of cooperative systems so government is giving greater trust that is given in paragraph three and paragraph four speaks about the importance of green growth green economy green infrastructures that is green growth economy infrastructures so this again related with the people mostly depend upon nature for their living it can relate with the ST populations that is given in paragraph four and paragraph five it speaks about Pradhan Mandri Kausal Vikas Yojana which you already saw where government is primarily focused on new skills for youth in like AI robotics that is the government is focusing on this that is given in paragraph five paragraph six and paragraph seven so regarding this paragraph six regarding green growth so what are being done that is given in paragraph six so they are primarily focused on reducing carbon footprint or carbon intensity of the government that is the reason why we can see that government is focusing lot on solar energy nuclear energy that is the primary reason and for that also we can see that government has focused on this new green hydrogen mission national green hydrogen mission which already saw in the previous article correct and also focusing on EV vehicles and they are also focusing on batteries manufacturing of batteries so manufacturing of batteries for EV vehicles is encouraged by the government that is given in paragraph six and paragraph seven focuses on agriculture accelerator fund and especially to focus on rural entrepreneurship agricultural accelerator fund primarily focused on rural youth for startups so that is given in paragraph seven the next article is fiscal deficit policy shift and sustainable development so we have this paragraph one it's a paragraph two three and paragraph four in paragraph one it speaks about the impact of budget and fiscal deficit and capital capital expenditure so any country's economic well-being is focused on these factors that is so based on budget so budget is one important indicator apart from this we need to focus on fiscal deficit fiscal deficit and next one is capital expenditure so all this need to be combined to understand the impact on economy and and this all related with fiscal discipline and fiscal consolidation we'll see all these things what is fiscal discipline and fiscal consolidation is so our paragraph two speaks about the concept of fiscal deficit fiscal deficit is primarily focused on borrowings so if you understand physical deficit how much we borrow for our development that's called fiscal deficit with a common man understanding so it's primarily focused on current needs by borrowing what you're going to focus on its current needs and future liabilities future liabilities this balancing is called fiscal deficit as you cannot fund all the projects with the current money you need to focus on borrowing but in what cost that borrowing is focused on is that based on future liabilities when you're going to build upon future liabilities that should be always finding a right path for that so that's related to fiscal deficit and what are the data for fiscal deficit is as per the budget of the financial year for 2022-23 so right now this is the budget for 2023-24 fiscal deficit is given in the range of 6.4 percentage and 5.9 percentage right now we can see that fiscal deficit is reducing and government is trying to find the right balance here and what the reason for this thing is why fiscal deficit is having an impact is so the reason is one is post COVID so COVID has an impact on this borrowings and global headwinds global headwinds are a lot of economies in the world are not doing great so that has an impact and Russia-Ukraine war so Russia-Ukraine war so this has an impact on there and also other geopolitical tensions so this all has an impact on economy especially fiscal deficit that's given there and and what the statement says is 5.9 is not great higher fiscal deficit for a country like India okay whereas paragraph 4 speaks about where this fiscal deficit where the borrowings are being spent so primarily they focused on governments must spend on investments and welfare schemes that is investments investment is primarily focused on creating infrastructures and welfare schemes investments and welfare schemes and which creates in faster income faster income for people apart from faster income it also creates greater output employment so these are the reasons why we need to focus on it and as per this FRBM act what is FRBM is fiscal responsibility and budget management act 2003 there's a target under this act which says that fiscal deficit should be fiscal deficit should be 3 percentage of GDP but the current number is around 5.9 percentage the reason is given here why it should be we need to focus on 5.9 okay so paragraph one next one so paragraph two paragraph three and paragraph four so in paragraph one we already saw about this FRBM act as it's a 3 percentage 3.3 should be their fiscal deficit for last 20 years and why why it's not being done as so primary business it is given in the paragraph one that is government is focusing on spending on capital expenditures so capital expenditures that values around very close to 10 lakh crore so where you need to compromise on fiscal deficit 10 lakh crore is being spent and this is 33 percentage higher than the previous year and also it's around 3 percentage of GDP so this where government need to spend and overall if you calculate all these aspects it's around 4.5 percentage of GDP with other expenditures combined and also 13 lakh crore 13 lakh crore expenditure includes along with capital expenditure and other expenditures so this clearly shows that for last two years there is no economic activity revenue source for the government is less but the same time government spending a lot of money for these areas capital expenditures it has a multiplier effect on the system so that government is ready to take the risk of borrowing money and investing in the economy so that it has an impact on output employment all these things that's the risk government is taking right now that's given in paragraph one so next one is paragraph two so where this focuses primarily focused on infrastructures and which are the infrastructures government spending a lot of money is power transport power transport railways so why government is focusing on these sectors because it has an impact on GDP employment so GDP is gross domestic product employment and output so that is the reason why government is calculating spending money on these aspects okay and this has an impact on once it has an impact on these dimensions direct impact and also it increases private investments increases private investments once these infrastructures are being developed private investments will pour in so that we can clearly understand for example if you are creating railway and it was across India we can see that it increases trade for that lot of private investment happens so increase in private investments that is the primary aspect of it for that only a lot of policies and schemes are being created that is being highlighted here one is regarding PM Gati Shakti this is a scheme focusing on logistics and infrastructure development national logistic policy national logistic policy logistic policy and next one is production linked incentive schemes so so these are being strengthened by the government so that it enhances the economic activity that's going in paragraph 2 and paragraph 3 speaks about revenue deficit so revenue deficit so revenue deficit is another term so revenue deficit is primarily to understand if revenue expenditure is high there is a revenue deficit for it so revenue expenditures are high so revenue deficits will be there and as per the datas of the government for financial year 2022-23 and financial year 2023-24 so the datas are being given as one is 3.8 percentage and is 2.9 percentage so that's a revenue deficit given there and revenue deficits primarily what is the revenue expenditure primarily focus donors regarding subsidies so what is subsidies to understand in common terms is there are certain products and services where there is a market price but for common man what government says is they need to pay some money for it where government will give other part of the money good example is LPG cylinders that's called subsidy and most of the revenue expenditure is concentrated in subsidies apart from subsidies they're also focusing on welfare schemes welfare schemes these are the major impact in my contributor for revenue revenue expenditures whereas paragraph 4 speaks about the importance of reducing revenue expenditures how this can be done is primarily focused on taxes to reduce revenue deficit primarily focus on increasing taxes increasing taxes and also increasing tax base tax base is nothing but asking more people to pay the taxes and that is primarily focused on tax administration apart from this also rationalizing rationalizing expenditures what is a rationalizing expenditure means government need to identify which are the most important expenditures which are not required that need to be removed that's called rationalizing expenditure based on this revenue deficits can be achieved next paragraph 1 and paragraph 2 so paragraph 1 again the same point is given by this expenditure reforms commission expenditure reforms commission that what we discussed right now to rationalize our expenditure so rationalize expenditure so that is what the point they say that so that government's expenditures are minimized which is considered to be unrequired so that's called recent debate on freebies is a good example on this rationalizing expenditures and that will help in preventing brings in efficiency increased efficiency increased efficiency of fund allocation then apart from this it's also has prevents leakages so this is all the way to enhance the efficiency of government expenditure that's going to paragraph 1 and paragraph 2 speaks about the ratios revenue receipts to revenue ratio so whenever this number is high this clearly shows that expenditures of the government is very high so that comes to importance of rationalizing so this is all the indicators for the government what need to be done so revenue expenditure we saw what is revenue receipts it's nothing but taxes when taxes are low and compared with expenditures we need to rationalize the expenditure that is given in this paragraph 2 and paragraph 1 paragraph 2 paragraph 3 and paragraph 4 and paragraph 1 speaks about this capital expenditure and higher capital expenditure results in greater push to the economy because of private investments higher capital expenditure which is always being encouraged by the system higher capital expenditure what are the benefit is increase private investments private investments and multiplier effect so that is given in paragraph 1 and paragraph 2 speaks about this capital expenditure to fiscal deficit that is capital expenditure to fiscal deficit so this is another indicator so fiscal deficit is a borrowing get by the government for investments and what is that percentage of capital expenditure when you get money and create new assets that is always advisable for the system so that is a requirement of the government and that is what given here so now projected that 56.0 which is clearly reflect positive intent and look of the government so the number is around 56.0 which clearly you know clearly identified that out of 100 rupees being borrowed 56 rupees spend on capital expenditure which is always good for the system that is going in paragraph 2 and paragraph 3 speaks about tax to GDP ratio tax to GDP ratio this is related to tax base tax to GDP ratio so right now it's more than 10 percentage but for the financial year of 2023-24 it is going to be 11 percentage so what this number indicates is what GDP is the total value of the economy and what are the tax we are getting out of it so this clearly shows that what are the products and service being taxed and also how many people are paying the taxes this all contribute to this ratio the higher the ratio so which clearly shows that it's a good it's a system is running in the right path where when taxes collection is low when compared with the GDP which need to be improved so right now they are saying that by this financial year it will be around 11% so India is moving that right direction and finally paragraph 4 so primary requirement is to reduce deficit to reduce deficit which includes both fiscal deficit and revenue deficit and that's called fiscal consolidation so government is moving towards this fiscal consolidation fiscal consolidation then apart from this higher capital expenditure spending results in that is creating capital expenditure primarily focused on capital expenditure primarily focused on creating employment increasing investments but with investments what happens is increased employment increased employment and growth but the ultimate objective of government is to achieve this 4 I that is infrastructure through budget investment innovation innovation inclusion so that's a primary focus of the government thank you