New Delhi, Feb 1: Union Finance Minister Nirmala Sitharaman tabled her 5th straight budget under PM Narendra Modi’s regime. “This is the first Budget of Amrit Kaal”, she said before the presentation.
Key Points of Union Budget 2023:
FM Sitharaman proposes to increase income tax rebate limit from Rs 5 lakh to Rs 7 lakh in new tax regime
Nirmala Sitharaman announced that people earning over Rs 15 lakh in a year will be subject to 30% tax. An individual with income of Rs 15 lakh will have to pay Rs 1.5 lakh tax, down from Rs 1.87 lakh under new tax structure
Outlays Rs. 5300 crores for Upper Bhadra Project
Rs. 10 lakh crores announced to create new jobs for unemployed youth.
The Govt to invest Rs. 2.40 Lakh Crore in Indian Railways.
PAN to be a Common Business Identifier for all digital systems.
The government will launch Pradhan Mantri Kaushal Vikas Yojana 4.0
30 Skill India international centres will be set up across states
50 tourist destinations will be selected through challenge mode to be developed as a whole package for domestic and international tourism
Outlay of Rs 20,700 for renewable energy plan in Ladakh
50-year interest free loans to states have to be spent on capex by 2024
MSMEs to get 95% of forfeited amount for contract failure during Covid-19
Govt proposes to make new tax structure as default tax option
Gold, silver and diamonds to get expensive
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