Union Budget 2023-24 - Here is a full PDF of what FM, India, spoke on today in the parliament. To read the Union Budget 2023–24, click here.
Union Budget 2023-24 Live Announcement -
Everything is all set to announce the most awaited budget of the biggest democratic country. Here you'll see the live news from the parliament-
Time 11:00AM - This is the first budget in Amritkaal.
Time 11:01AM - Growth rate is approx 7%
Time 11:05AM - Free Food Grains for Poor Family for another one year.
Time 11:06AM - 47.8Cr Jan Dhan Account Opened so far across the country.
Time 11:07AM - According to Finance Minister Nirmala Sitharaman, the Indian economy is on track and will have a bright future.
Time 11:10AM -The three main goals of the economic agenda are to provide adequate opportunity for individuals, particularly young people, to stimulate growth and job creation, and to stabilize the macro economy.
Time 11:15AM - Budget 2023 follows these 7 guidelines, serving as our "Saptarishi" and leading us through "Amritkal."
1. Inclusive development
2. Reaching last mile
3. Infrastructure and investment
4. unleashing potential
5. Green growth
6. Youth Power
7. Financial Sector
Time 11:18AM - Focus on employment.
Time 11:20AM - Research, storage, and seed cultivation are given particular attention and benefits.
Time 11:25AM - A package of support for traditional artisans and craftspeople has been conceptualized by PM Vishwa Karma Kaushal Samman.
Time 11:30AM - Support for poor prisoners.
Time 11:31AM - To map cooperative societies, a national cooperative database is being developed.
Time 11:32AM - For the Ekalavya Model Residential Schools, 38,800 teachers will be hired.
Time 11:35AM - Focus on Artificial Intelligence
Time 11:36AM - The PM Awaas Yojana budget has increased by 66% to more than Rs 79,000 crores.
Time 11:38AM - PAN Card will serve as the universal system identifier for all digital systems employed by the designated government agencies.
Time 11:40AM - E-Nayalaya phase 3 to be started
Time 11:42AM - According to Finance Minister Nirmala Sitharaman, the government wants to establish a national digital library for kids and teenagers to make up for the learning loss caused by the pandemic.
Time 11:45AM - Railways would get a capital outlay of Rs 2.4 lakh crore, the biggest amount ever since 2013–14.
Time 11:47AM - Green Growth is a top priority. 19700 crores were spent on Green Growth. Priority Capital Investment: 35000 crores. Attempt to achieve carbon neutrality by 2070. Program for Green Credits to be informed.
Time 11:50AM - 50 new Airport to be developed.
Time 11:55AM - 157 nursing college to be built across the country.
Time 12:00PM - There will be 30 Skill India International Centers built nationwide under Pradhan Mantri Kaushal Vikas Yojana 4.0.
Time 12:05PM - The highest deposit amount for the Mahila Samman Savings Certificate is Rs 2 lakh, with 7.5 percent interest.
Time 12:10PM -Gold, Silver and Diamonds to be costlier.
Time 12:15PM -The income rebate ceiling has been raised from Rs. 5 lakh to Rs. 7 lakh.
Time 12:20PM - A person with a yearly salary of 9 lakh will only have to pay 45 k in taxes.
Time 12:25PM - Personal Income Tax - New tax rates:-
0 to Rs 3 lakh - nil,
Rs 3 to 6 lakh - 5%,
Rs 6 to 9 Lakh - 10%,
Rs 9 to 12 Lakh - 15%,
Rs 12 to 15 Lakh - 20%,
Above 15 Lakh - 30%
On February 1st, 2023 at 11:00AM, Srimati Nirmala Sitharaman would deliver the budget from the new Lok Sabha House, she continued. Beginning on January 31, the budget session is anticipated to go through April 6, with a break between February 14 and March 12.
The budget is written by the Ministry of Finance in coordination with NITI Aayog and other departments. The nodal organization in charge of creating the budget is the Department of Economic Affairs (DEA) in the finance ministry. Here is the recent updates from the Member of Parliament's tweet. As per tweet "The New Parliament House is ready! The President Draupadi Murmu will address the Joint Session from New Lok Sabha House on 31st January 2023. The Budget will be presented by Srimati Nirmala Sitharaman from the new Lok Sabha House on 1st February, 2023."
Expectation from Union Budget 2022-23
- Prime Focus on Employment
- MSME, NBFC and Manufacturing sector to Agriculture industry
- Health Insurance for India’s Missing Middle
- Healthcare infrastructure fund and digitization in the healthcare sector
- Development of Real Estate and Electric Vehicles
- Increase spending on infrastructure
- Focus on Tax Relief
- Section 80C limit extension
- A uniform tax structure for capital gains
- Spending on Railways, Renewable energy sector and Jal Jeevan Mission
- Incentive scheme for textile industries
- Urban infrastructure is expected to be in focus
- Impetus to ‘Make in India’ in defense
- Schemes benefiting SCs, STs and senior citizens
Union Budget 2023-24 Reality -
On the basis of the speech and positive news for the middleman 7 Lakh without paying income tax. I'm happy to see the income tax slab modifications. After a long wait, the middle class may finally breathe easy.
