Budget 2023 Highlights
Finance Minister Nirmala Sitharaman hiked standard deduction to Rs 52,500 a year from the current Rs 50,000. Standard deduction is a base amount that is not subject to tax, in addition to the basic exemption limit, providing relief to every tax payer.
Budget 2023 LIVE Updates: FM Sitharaman says Budget is based on 7 priorities.
- Green growth
- Youth power
- Inclusive development
- Reaching the last mile
- Infrastructure and investment
- Unleashing the potential
- Launch of digital platform
No, tax for income up to Rs 3 lakh; 5 percent tax on Rs 3-6 lakh; highest tax rate of 30 percent on income above Rs 15 lakh under new tax regime.
1.No news on bank privatisation
2.Calamity cess on cigarettes
3.DigiLocker expansion for fintech companies
4.100 labs to be established for developing apps using 5G
5.Phase 3 of the eCourt’s project will be launched with an outlay of Rs 7,000 crore, for efficient administration of justice.
6.FY24 fiscal deficit pegged at 5.9% of GDP
7.Personal finance proposals
8.Revamped credit guarantee scheme–Good news for MSMEs
9.Indian Biogas Association on ‘green growth’ goals
10.Cheer for auto sector
11.PM Awaas Yojana allocation increased
12.FM on Green Hydrogen Mission
13.Centre to establish National Digital Library for children, adolescents
14.Eklavaya Model Schools to recruit 38,800 teachers
15.Rs 15,000 crore for PMPBTG Development mission
16.Agriculture stocks in focus
17.FM proposes new programme for pharma research
18.FM gives a big boost to agritech startups
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