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Posted on March 30 2023

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

By Editor
Updated July 25 2023

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.

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