Budget Highlights 2023:
Budget 2023 is a significant budget for the government with a focus on income tax relief, infrastructure, job creation, skills development, women empowerment, and the environment. The budget aims to improve the standard of living for all citizens and achieve socio-economic development for all. Union Budget 2023 in India PDF Highlights will be available soon for all.
Tax Relaxation:
- 0 to 3 Lakh – Nil
- 3 to 6 lakh – 5%
- 6 to 9 lakh – 10%
- 9 to 12 Lakh – 15%
- 12 to 15 lakhs – 20%
- Above 15 Lakh – 30%
Income Tax Relief:
- No tax on income up to ₹ 700,000.
- Women’s honor savings letter, 7.5% savings facility if the scheme is received for 2 years.
Infrastructure Development:
- Provision to appoint 38,800 teachers and support staff for 740 Eklavya Model Schools.
- Target of 5 MMT green hydrogen production by 2030.
- Building 50 new airports, heliports and aerodromes.
- Increased allocation for PM Awas Yojana by 66% to ₹79,000 crore.
- ₹2.4 lakh crore proposed for railway development.
- Increased expenditure on infrastructure by 33% to ₹10 lakh crore.
- Provision of ₹75,000 crore for new railway projects.
- DigiLocker Aadhaar considered more secure and proof of residence.
Jobs:
- New credit guarantee scheme to be applicable from April 1st.
- Allowance for 47 million youth for 3 years.
- Notification of Green Card Scheme to be released soon.
- MSME to receive pay interest.
- PM Skills Development Scheme 4.0 to start soon.
- Startup fund for the welfare of farmers.
- Budget of more than ₹200,000 crores for free grains.
- Target of ₹2,000,000 crore for the agricultural sector.
- 157 new nursing colleges to open.
- India to be made the global hub of Mr. Anna.
Financial sector and environment:
- Focus on financial sector and environment.
- Development mission for PM housing and tribal people.
- Increased limit of interest-free loans for 1 year.
- Announcement of ₹15,000 crore for tribal mission for 3 years.
Presentation:
- Presented by Finance Minister Nirmala Sitharaman on 1st February 2023.
- 9th Budget of Modi government 2023-2024.