IRCC plans to invest $4.5 billion for Canadian immigration in FY 2023-24

Highlights: $4.5 Billion to be invested in Immigration

• The Canada Budget for 2022 decided on a $1.6 billion investment towards Canada Immigration for the next six years, along with $315 million to aid the Immigration Level Plans of Canada.
• The government has made plans to invite 1.5 million permanent residents by the year 2025.
• The 2023 Budget proposed $10 million for the next five years, starting from 2023-24.
• An allowance of $14.6 million is in the amortization stage for implementing the biometrics by the Royal Canadian Mounted Police (RCMP) and the IRCC.
• The eligibility criteria for the Electronic Travel Authorization (ETA) program will be extended for tourers from trustworthy countries.

*Check your eligibility with Y-Axis Canada Immigration points calculator

A detailed insight into the Budget 2023-24

• Canada has released the Budget for 2023-24 with an investment commitment of $55 million towards the Immigration system of Canada.
• The additional $4.5 billion will also be included for 2023-24 by the IRCC.
• The 2023-24 Budget mainly focuses on healthcare, sustainable energy, and promoting accessible measures for Canadians and immigrants.
• $14.6 million will go into implementing biometrics by the IRCC and the Royal Canadian Mounted Police (RCMM). This granting will be used over a period of five years.
• $50.8 million will go into extending the eligibility criteria for the ETA (Electronic Travel Authorization Program) for travelers from trustworthy countries. This granting will be used over a period of four years.
• $171.4 million will go into extending the Canada-Ukraine Authorization for Emergency Travel. This granting will be used over a period of three years.
• $123.2 million will go into promoting Francophone Immigration in Canada for the recruitment of French-speaking foreign workers from outside Quebec.

Canada is growing to be one of the well-constructed and steady economies in the world, with a 126% job recovery rate with a target of reaching the most sustainable economic growth by the end of 2023.

Planning to migrate to Canada? Contact Y-Axis, World’s No.1 Immigration Company.

If you find this article interesting, Read more…

4.2 million Immigrant women work in Canada, StatCan reports

Canada says, ‘Newcomers are more likely to be hired than Canadian citizens’