Tag: Union Budget

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.

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.

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.

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.

Recovery of MSMEs is proceeding apace, as is evident in the amounts of Goods and Services Tax (GST) they pay, while the Emergency Credit Linked Guarantee Scheme (ECGLS) is easing their debt servicing concerns

All eyes will be on what comes out of the Pandora's box as this is the last full-fledged budget of the second term of Prime Minister Narendra Modi-led government.

The fiscal deficit for 2022-23 is estimated to be 6.4 per cent of the GDP, the document said.

India's self-confidence, the President said, is at its highest and the world is looking at her from a different perspective.