Ministry Wise Allocation of Budget 2023: Check Here For More Information

The yearly economic presentation, the Budget, was presented in Parliament on Tuesday. The Budget considers the amount allocated to individual ministries, which would eventually be utilized to work towards their respective aims and ambitions. However, before delving into which ministry received the most funds, the total expenditure in 2022-23 is estimated at Rs 39.45 lakh crore, just like how a family or individual plans their expenses; the Budget sheds light on India’s expenditure for the next fiscal. The Ministry Wise Allocation of Budget 2023 will be updated soon. Meanwhile, check out this article to get a clear picture of the previous year’s Budget Allocation For Different Ministries 

Ministry Wise Allocation of Budget 2023: Details

Union Finance Minister Nirmala Sitharaman presented the Union Budget 2022-23 on Tuesday, 1 February. The Finance Minister announced in her speech that spectrum auctions will be held this year to roll out 5G services in India within FY 2022-23.  Expansion of rural broadband and laying of optical fiber cable in the rural areas will be completed by 2025, she added.

• First – The highest allocation of Rs Rs 5,25,166.15 crore went to the Ministry of Defence. The funds for the ministry have been hiked from Rs 4,78,196 crore in 2021. Sitharaman announced that 68 percent of the defense procurement budget would be reserved for domestic equipment. Around 25 percent of the allocation will be channeled toward defense research and development.
• Second – Following the Defence Ministry, the second spot is the Consumer Affairs, Food, and Public Distributions Ministry, which has been allocated Rs 2,17,684.46 crore. In last year’s Budget, the ministry was also placed second, with Rs 2,56,948 crore.
• Third – On 3rd, with an allocation of Rs 1,99,107.71 crore, is the Ministry of Road Transport and Highways. The ministry has replaced the Ministry of Home Affairs from the third spot, as the Government announced an expansion in the National Highway system under the PM Gati Shakti plan.
• Fourth – The Ministry of Home Affairs has dropped to the fourth place with funds amounting to Rs 1,85,776.55 crore, which is a tad bit more than last year’s number, Rs 1,66,547 crore. The Government will issue E-Passports with embedded chips.
• Fifth – The Ministry of Railways gained the fifth spot. The Finance Minister announced 400 new generation train sets of Vande Bharata that will be launched in the next 3 years. It has been allocated Rs 1,40,367.13 crore, nearly Rs 30 lakh crore more than 2021’s budgetary allocation.
• Sixth – The Ministry of Rural Development has got Rs 1,38,203.63 crore, a little less than last Budget’s Rs 1,33,690 crore. The Government said that a Public-Private Partnership mode would be launched for the delivery of digital and high-tech services to the farmers.
• Seventh – The Ministry of Agriculture and Farmers’ Welfare has been allocated Rs.1,32,513.62 crore. Kisan Drones, chemical-free natural farming, and public-private partnerships for delivering digital and high-tech services to farmers across the country in the upcoming FY 2022-23 will be promoted, said Sitharaman.
• Eighth – The Ministry of Chemicals and Fertilizers bagged the eight spot with Rs.1,07,715, up from Rs 80,715 crore allocated in 2021. The government will promote chemical-free natural farming across the country with a focus on farmers’ lands in five-kilometer-wide corridors along the river Ganga, announced Sitharaman

Ministry Wise Allocation of Budget 2023: Budget Allocation 2022

Candidates can scroll down to learn about the ministry wise budget allocation for the year 2022. 

Ministry Wise Allocation of Budget 2023: Budget Rank 2022

People who are interested to know how the ministries are ranked within ten can view the table below.

Ministry Wise Allocation of Budget 2023: FAQs