Finance Minister Nirmala Sitharaman announced in the Budget that states would be encouraged to set up a “Unity Mall” in their capitals, their most prominent tourism centres, or their financial capitals. What is a unity mall? The FM did not specify what the “unity mall” would be, its physical or non-physical structure, or how it would work. However, she said that the unity malls would focus on the promotion and sale of the state's own “ODOPs (one district, one product), GI products and other handicraft products, and for providing space for such products of all other States”. At present, an Ekta Mall is operational near the Statue of Unity, located about 3.5 km away from the statue at Ekta Nagar in Kevadia. The Ekta Mall - Unity in Handicrafts Diversity is a showroom of handicrafts from different states of India. Spread over 35000 square-feet area of two floors, the mall has 20 emporiums dedicated to states' traditional textiles and artisanal handicrafts. What is ODOP? One District, One Product is an initiative by the government which aims to make regional products more accessible, while providing capital to those who produce them. Under the scheme, the State identifies the chief product for a district, and then offers support for its processing, storage and marketing. These products can be perishable agri produce, cereal-based products or food products like mango, potato, meat and fisheries. The scheme also supports traditional and innovative products including waste-to-wealth products, such as honey and herbal edible products. What is GI? Ageographical Indication (GI) tag is given to agricultural, natural or manufactured products that originate from a specific geographical area due to which they possess unique characteristics and qualities, according to the Agricultural and Processed Food Products Export Development Authority (APEDA). Essentially, the tag guarantees that the product is coming from that specific area. It’s kind of a trademark in the international market. Union Budget 2023: All you need to know ↗️ Finance Minister Nirmala Sitharaman's Union Budget 2023 has some big takeaways ↗️ First, what everyone has been looking forward to: changes in the new income tax regime. She has made the new tax regime more attractive. There are changes in the rebate limit and in tax slabs. What does this mean for the taxpayer? ↗️ FM Sitharaman proposed a 33% increase in capital investment outlay, raising it to Rs 10 lakh crore. This is the biggest in the past decade. What does it mean? ↗️ Some articles get cheaper and others get costlier due to changes in customs duty. Here is a list ↗️ The capital outlay for the railways has been increased to the highest ever - Rs 2.40 lakh crore. The government is trying to create more jobs ↗️ FM Sitharaman said the fiscal deficit will fall to 5.9% of the GDP. What does it mean for the stakeholders? ↗️ The FM called it the 'first Budget of Amrit Kaal'. PM Narendra Modi said it will build a strong foundation for a developed India. What did opposition leaders say?
