FM Sitharaman proposed a reduction in the number of customs duty rates on goods except for textiles, from 21 to 13.
For senior citizens, the maximum deposit limit for Senior Citizen Savings Scheme will be enhanced from Rs 15 lakhs to Rs 30 lakhs
She further said under the new personal income tax regime, the number of slabs would be reduced to five.
Apart from income tax rebate, the Finance Minister’s budget speech outlined which items would get costlier and which would become cheaper.
A data embassy is a solution implemented by nation states to ensure a country's digital continuity with particular respect to critical databases.
The direct capital investment by the Centre is complemented by the provision made for creation of capital assets through Grants-in-Aid to State
Let's have a look at the major announcements made by the Finance Minister Nirmala Sitharaman
She said that the government will launch Prime Minister Kaushal Vikas Yojana 4.0 (PMKVY 4.0) to skill youth over the period of next three years.
She announced that the new programme to promote research and innovation in pharmaceuticals will be taken up
The special focus on tribals is that the government wants to capitalise it ahead of polls in Madhya Pradesh, Chhattisgarh, Rajasthan, Odisha and Jharkhand.
The CAIR has already been established for AI-related research and development.
The Railways is likely to roll out 75 Vende Bharat trains by August 2023.
Sitharaman further said that the capital investment outlay has been increased for the third year by 33 per cent to Rs 10 lakh crore, which will be 3.3 per cent of GDP.
Sitharaman will further introduce the Finance Bill 2023 in the Lower House.
The government has settled Rs 38,507 crore towards CGST and Rs 32,624 crore towards SGST from IGST as regular settlement.