Budget 2023 LIVE Updates: Revised tax slabs under new tax regime
- Under new tax regime, income of Rs 0-3 lakh is nil.
- Income above Rs 3 lakh and up to Rs 5 lakh to be taxed at 5% under new regime.
- Income of above Rs 6 lakh and up to Rs 9 lakh to be taxed at 10% under new regime.
- Income above Rs 12 lakh and up to Rs 15 lakh to be taxed at 20% under new regime.
- Income above Rs 15 lakh to be taxed at Rs 30%.
Income rebate limit increased to Rs 7 lakh from Rs 5 lakh in new tax regime
Average processing time for income tax returns reduced from 93 days to 16 days
The government intends to roll out next-gen common IT Return forms and strengthen grievance redressal mechanism: FM Sitharaman
Five major announcements for Income tax coming…
Cigarettes to get costlier as Budget proposes 16% hike in duty
Finance Minister Nirmala Sitharaman on Wednesday announced a 16% increase in NCCD on certain cigarettes.
The govt proposed Customs duty exemptions on the import of capital goods and machinery required for lithium-ion batteries. The government also proposes to increase customs duty on silver to align with duty on gold and platinum.
Budget 2023 LIVE Updates: I reiterate my intention to bring the fiscal deficit below 4.5% of GDP by 2025-26, says FM
100 labs for developing apps using 5G services will be set up in engineering institutions. To realise new range of opportunities, business models & employment potential, labs will cover among others, apps like Smart Classrooms, Precision Farming, Intelligent Transports Systems & Healthcare: FM
Budget 2023 LIVE Updates: FM Sitharaman fixes fiscal deficit for 2023-24 at 5.9%
The revised fiscal deficit is at 6.4% of GDP: FM Sitharaman
Budget 2023 LIVE Updates: National Financial Information Registry
The government will set up a National Financial Information Registry to serve as a central repository of financial and ancillary information, said Finance Minister Nirmala Sitharaman.
Budget 2023 LIVE Updates: Bio input resource centres
Over the next 3 years, one crore farmers will get assistance to adopt natural farming. 10,000 bio input resource centres will be set up: FM Nirmala Sitharaman
To unleash Innovation and research by Startups and Academia, a National Data Governance Policy will be brought out. This will enable access to anonymized data: FM Nirmala Sitharaman
Budget 2023 LIVE Updates: Revamped credit guarantee scheme for MSMEs
Revamped credit guarantee scheme will take effect from April 1, 2023, through the infusion of Rs 9,000 crore in the corpus. This will enable additional collateral-free credit of Rs 2 lakh crore to MSMEs.
Budget 2023 LIVE Updates: Push for tourism
50 tourist destinations will be selected through challenge mode to be developed as a whole package for domestic and international tourism: FM Nirmala Sitharaman
Budget 2023 LIVE Updates: Pradhan Mantri Kaushal Vikas Yojana 4.0
The government will launch Pradhan Mantri Kaushal Vikas Yojana 4.0, said FM Nirmala Sitharaman. In order to skill the youth for international opportunities, 30 Skill India International Centres will be set up across different States, she added.
Budget 2023 LIVE Updates: National Hydrogen Mission
FM allocated Rs 19,700 crore to the National Hydrogen Mission. The objective is to reach hydrogen production capacity of 5 metric million tonnes by 2030.
Budget 2023 LIVE Updates: Rs 35,000 crores priority capital for energy transition
Battery storage to get viability gap funding: FM Nirmala Sitharaman
Budget 2023 LIVE Updates: Digilocker- One stop KYC maintenance system
For business establishments required to have Permanent Account Number, the PAN will be used as a common identifier for all Digital Systems of specified government agencies: FM Nirmala Sitharaman
Budget Speech Live: Pushing for transport infra projects
50 additional airports, heliports, water aerodromes, and advanced landing zones to be revitalised. 100 critical transport infra projects for steel, ports, fertiliser, coal, foodgrain sectors have been identified with an investment of Rs75,000 crore including Rs 15,000 crore from private sources.
Budget 2023 Speech Live updates: 50-year interest free loan to State governments extended for one more year
Budget 2023 Speech Live: Booster for Railways
Capital outlay of Rs 2.40 lakh crore will be provided for railways; 9x over FY14
Budget Speech Live: Capital investment outlay increased by 33%
Capital investment outlay being increased by 33% to Rs 10 lakh crores, which would be 3.3% of GDP, said Finance Minister Nirmala Sitharaman in her budget speech.
Budget 2023 Speech Live updates: The outlay for PM Awaas Yojana being enhanced by 66% to over Rs 79,000 crores, says FM
Budget 2023 Speech Live updates: Focus on education
Eklavaya Model Residential Schools -in the next 3 years the Centre will recruit 38,800 teachers and support staff for 740 schools serving 3.5 lakh tribal students: FM Nirmala Sitharaman
Budget 2023 Speech Live updates: PM Primitive Vulnerable Tribal Groups Mission
To improve social-economic condition of the Particularly Tribal Groups, PMPBTG Development mission will be launched, to saturate PBTG habitations with basic facilities. Rs 15,000 cr to be made available to implement scheme in next 3 years: FM Nirmala Sitharaman
Budget 2023 Speech Live updates: National Digital Library
The government proposes to set up a national digital library for children and adolescents to make up for the learning loss during the pandemic, said Finance Minister Nirmala Sitharaman.
The government will launch a sub-scheme under PM Matsya Sampada Yojana with an outlay of Rs 6,000 crore to further enable those involved in fisheries, said Finance Minister Nirmala Sitharaman.
Budget 2023 Speech Live updates: Agri push
The government has also initiated computerisation for 63,000 primary agricultural credit societies with an investment of Rs 2,516 crore.
Budget 2023 Speech Live updates: Assistance for traditional artisans and craftspeople
PM Vishwa Karma Kaushal Samman – package of assistance for traditional artisans and craftspeople has been conceptualized, will enable them to improve quality, scale and reach of their products, integrating with MSME value chain
Budget 2023 Speech Live updates: Encouraging agritech startups
An agriculture accelerator fund to encourage agritech startups by young entrepreneurs in rural areas. Fund will focus on bringing innovative solutions for challenges faced by farmers.
Budget 2023 Speech Live updates: Atmanirbhar Clean Plant Programme
The government will launch the Atmanirbhar Clean Plant Programme to improve availability of disease-free quality planting material for high-value horticultural crops at an outlay of Rs 2,200 crore: Finance Minister Nirmala Sitharaman
Budget 2023 Speech Live updates: Seven priorities of the budget
- Inclusive development
- Reaching the last mile
- Infra & investment
- Unleashing the potential
- Green growth
- Youth power
- Financial sector
Budget 2023 Speech Live updates: This budget is focused on job creation, upliftment of youth, says FM
We made significant progress in sustainable goals. Also achieved many milestones in Swachh Bharat, PM Suraksha Bima Yojana, Direct benefit transfer, and Jan Dhan accounts: FM Sitharaman.
Budget 2023 Speech Live updates: FM on food security
Continuing our commitment to food security, we’re implementing from Jan. 1, 2023, a scheme to supply free food grain to all Antyodaya and priority households for one year under PM Garib Kalyan Ann Yojana,” said Finance Minister Nirmala Sitharaman.
Budget 2023 Speech live updates: Economy has become a lot more formalised as reflected by doubling of EPFO membership, says FM
Budget 2023 Speech live updates: World has recognized India as a bright star, says FM
The world has recognized India as a bright star, our growth for the current year is estimated at 7.0%, this is the highest among all major economies, in spite of massive global slowdown caused by pandemic and the war.
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