India Budget 2023

Budget 2023 Live Updates: Finance Minister Nirmala Sitharaman has reached Rashtrapati Bhavan ahead of presenting the Budget to meet President Draupad.

Finance minister Nirmala Sitharaman is being looked at to revise income tax slabs and rates in the Union Budget 2023. Finance Minister Nirmala Sitharaman should look to simplify the capital gains tax regime in Budget 2023. FM Nirmala Sitharaman's Budget will be presented in the backdrop of the major advanced world economies being crippled by a downturn. Renowned author Gurcharan Das is of the view that the Indian economy will continue to grow well in the coming years as well. Budget 2023 will be crucial for the automotive industry. Union finance minister Nirmala Sitharaman will present the Union Budget for 2023-24 with a digital device instead of the traditional 'bahi-khata' in her hands. Speaking to ANI ahead of the Budget, MoS Finance said that the people's expectations would be reflected in the Budget which will be presented later today. Finance Minister Nirmala Sitharaman is expected to announce measures that will give impetus to private sector investment in the economy which is crucial for sustained job creation. Finance minister Nirmala Sitharaman is expected to give a big thrust to infrastructure sector in her Union Budget 2023 speech. Ahead of Budget 2023, the Goods and Services Tax (GST) collection in January surged to over Rs 1.55 lakh crore, the second highest-ever mop-up, the finance ministry said on Tuesday. Budget 2023 Live Updates: Finance Minister Nirmala Sitharaman met President Droupadi Murmu before proceeding to the Parliament to present the Union Budget. In 2019, the Union Budget was presented in a traditional 'bahi-khata' rather than a leather briefcase.

India Budget highlights 2023: In the last full-fledged Budget before the general elections next year, the Modi government presented the Union Budget in ...

* Indian economy on the right track, and heading towards a bright future. * To improve social-economic condition of the Particularly Tribal Groups, PMPBTG Development mission will be launched, to saturate PBTG habitations with basic facilities. In these 9 years, the Indian economy has increased in size from being 10th to 5th largest in the world: Sitharaman * The country offers immense attraction for domestic as well as foreign tourists. [Nirmala Sitharaman](/news/nirmala-sitharaman)today presented the [Union Budget](/budget)2023, the fifth budget of Modi 2.0 on Wednesday. The per capita income has more than doubled to Rs 1.97 lakh. During pandemic, the government ensured no one went to bed hungry, " says Finance Minister In a boost to taxpayers and economy, Sitharaman announced major changes in tax slabs under new tax regime and big boost for railways and capital expenditure. * Phase 3 of E-courts projects to be launched with outlay of Rs 7,000 crore * To encourage the indigenous production of lab-grown diamonds, a research and development grant is to be provided to one of the IITs for five years * Effective capital expenditure of centre to be - Rs 13.7 lakh crore * New tax regime to become the default tax regime

Budget 2023 Live Updates: Union finance minister Nirmala Sitharaman announced that the Union budget 2023-24 is guided by seven priorities.

A comprehensive document that outlines the government’s economic and fiscal policies, it is presented by the Finance Minister of India in the Parliament. The revenue budget is made up of revenue receipts - the amount of taxes and other levies the union government expects to collect and revenue expenditures. With India assuming the presidency of G20, finance minister Nirmala Sitharaman may focus on green hydrogen and electric vehicles to enable the nation's adoption of green energy. "IMF estimates India to be one of the top two fast-growing significant economies in 2022. Sitharaman's budget for the fiscal year starting April 2023 is her fifth straight since 2019. Here are the key numbers to watch for in Budget 2023-24, which is widely expected to boost spending towards policies that create jobs, leave more money in hands of the common man and boost manufacturing, while increasing tax revenues. Sniffer dog was seen sniffing copies of Union Budget 2023 that have been brought to the Parliament. Union finance minister Nirmala Sitharaman has joined a select league of ministers to present five consecutive federal budget in independent India. It has also proposed to reduce basic customs duty on parts, TV panels to 2.5% in a bid to promote value addition on manufacture of TVs. Highest tax rate - Reduction in the highest surcharge rate from 37 per cent to 25 per cent in the new tax regime. “I introduced in 2020, the new personal income tax regime with 6 income slabs, starting from ₹2.5 Lakhs. The minister also said that urban local bodies will be provided incentives to improve their finances and credit worthiness.

India will focus on economic growth and job creation and cut down fiscal deficit, the Finance Minister said on Wednesday, presenting the government's last ...

* Increases budget allocations to 790 billion rupees for affordable housing in 2023/24 * Agricultural credit target raised to 20 trillion rupees for 2023/24 * Outlay for capital spending increased 33% to 10 trillion rupees ($122.29 billion) in 2023/24

Budget 2023 India Highlights and Important Points: Nirmala Sitharaman announced a National Digital library for children, a national mission for vulnerable ...

📌 Government implementing a scheme to supply foodgrains from January 1, 2023, to all Antaodaya and priority households for the next one year. [Read her full speech](https://indianexpress.com/article/business/budget-2023-nirmala-sitharaman-speech-full-text-8416756/) to see what else you missed. 📌 What will be cheaper? Udit Misra has distilled [the three big takeaways](https://indianexpress.com/article/explained/explained-economics/three-big-takeaways-of-union-budget-8417426/) from this Union Budget. And in case you were wondering, he has a handy explainer on [how the government calculates the math](https://indianexpress.com/article/explained/explained-economics/union-budget-2023-explained-math-calculation-planning-8416899/). 12-15 lakh — 20%; Rs. 📌 The limit for presumptive taxation for MSMEs and certain professionals to be increased to Rs 3 crore and Rs 75 lakh respectively. 9-12 lakh — 15%; Rs. The Minister’s speech also laid emphasis on infrastructure and jobs ahead of Modi government’s last full-fledged Budget before the Lok Sabha elections in 2024. 6-9 lakh — 10%; Rs. 3-6 lakh — 5%; Rs. 3 lakh — nil; Rs.

Presenting its annual budget to parliament on Wednesday, India's government seeks to lower its fiscal deficit while offering incentives for investment and ...

Union Budget 2023 Live Updates: Union Finance Minister Nirmala Sitharaman has proposed a new tax regime, under which income tax rebate limit has been ...

After getting the nod from the Cabinet, Sitharaman will present the Budget in Parliament. The Bharatiya Janata Party (BJP) will launch a 12-day-long nationwide campaign on Wednesday to reach out to the public and convey the benefits of the upcoming Union budget 2023-24. The government is spending nearly 20% of its budget this fiscal year on capital investment, the most in at least a decade. The Union Budget 2023 is a much-anticipated event for the real estate sector in India. Union Cabinet meeting chaired by PM Modi begins at the Parliament. The benchmark 10-year yield was at 7.3346% as of 09:55 am IST, after closing six basis points lower at 7.3438% yesterday, posting its biggest single-session fall in two months. Like the previous two Union Budgets, Union Budget 2023-24 will also be delivered in paperless form. Union Finance Minister Nirmala Sitharaman will present the Budget shortly. Finance Minister Nirmala Sitharaman is presenting the Narendra Modi government's 11th Union Budget in Parliament. This is a middle-class bonanza budget but PM has spoken about inclusive growth. It's a Budget presented keeping the elections in mind, while some relaxations given to the middle class. This budget will fulfil dreams of aspirational society including poor people, middle-class people, farmers: PM Narendra Modi

The budget for the Department of Space, headed by ISRO chief S Somnath, has been slashed by Rs 1100 crore from the previous financial year.

The target for the hydrogen mission will be to reach annual production of 5 MMT by 2030. The Centre allocated Rs 12543.91 crore to the department of space, which is responsible for India's space program, as Sitharaman allocated Rs 7931.05 to the Department of Science and Technology along with Rs 2683.86 to the Department of Biotechnology. While Isro is known for conducting cost-effective missions globally, a significant reduction in its budget could further delay some of its missions, including the Gaganyaan mission. [By India Today Web Desk](/author/india-today-web-desk): The Ministry of Science & Technology has been allocated Rs 16,361 crore in the budget 2023-24 presented by Finance Minister Nirmala Sitharaman in Parliament on Wednesday. The ministry received Rs 14,217.46 crore for the Financial Year 2022-23.

The Budget for 2023–24, according to Finance Minister Nirmala Sitharaman, aims to expand on the framework of the prior budget and the blueprint for ...

This period has been pitched by the Narendra Modi government as the time when [India](/topic/india)can strive to turn into a developed country. Vital instruments to achieve such growth are innovation and reform. Sitharaman had remarked that Budget 2023-24 would offer a blueprint for the Amrit Kaal, effectively outlining strategies that can help India achieve the ambitious target. Amrit Kaal is a hold-all narrative that includes infrastructural, manufacturing, digital and social growth that makes the country self-reliant and puts the country not only among the developed ones but also its economy in the third slot globally. Outlining on her vision for the economy, Sitharaman spoke of seven focus areas which she termed 'Saptarishi' to guide the government. Before the general elections in 2024, this is the final complete budget of the BJP-led NDA's second term.

Since taking office in 2014, Modi has ramped up capital spending including on roads and energy, while wooing investors through lower tax rates and labour ...

Prime Minister Narendra Modi's government unveiled a pre-election India budget that cut personal income taxes to boost consumption while ramping up ...

India has increased its monetary support for Bhutan and Maldives in its Budget 2023 announced on Wednesday. The Government of India has allocated Rs 2400 ...

India has allocated Rs 100 cr for Chabahar port in Iran, which was the same as last year. India allocated Rs 200 cr for Bangladesh this year, which was the same in 2022. Taliban took over Kabul in August 2021, and this is the second year in a row that India has continued its monetary support for the country.

Nirmal Sitharam, Finance Minister of India will present the Union Budget 2023, which includes information about various new initiatives that Govt of India ...

Digital India is a flagship programme of the Government of India — the Ministry of Electronics & Information Technology (MeitY), to be specific — with a ...

This was eventually revised to Rs 6703.5 crore. Feb 1, 2023 IST4 Min(s) Read Feb 1, 2023 IST3 Min(s) Read

The Union Budget 2023-24 has highlighted the importance of coarse grains or millets as means of sustainable cultivation that can raise the income of small ...

India grows several types of Shree Anna including Jowar, Raagi, Bajra, Ramdana, Cheena, and Saama. The United Nations declared 2023 the International Year of Millets at the request of the Government of India to raise awareness and increase the production and consumption of millets. India is the largest producer and second-largest exporter of Shree Anna in the world.

Prime Minister Narendra Modi's government delivered India's annual budget on Wednesday that laid out a slew of measures to bolster infrastructure for ...

Finance Minister Nirmala Sitharaman commented on India's goal to promote millets both domestically and abroad while presenting the first Amrut Kaal budget.

While presenting the first Budget of Amrut Kaal, Finance Minister Nirmala Sitharaman spoke about India's plan to popularise millets nationally and ...

Experts also belive that measures to enhance yields are also the need of the hour. FM Nirmala Sitharaman mentioned that India is the highest producer of Shrianna and the small farmers do a huge service to the people of the country by sowing millets. India was the highest producer of millets in 2020 and produced 41 percent of the world's millets. 2023 is the International year of millets. The government has come up with a 5-year plan that spans various ministries and its foreign embassies and missions. She said that this approach of govt will help the country with food security and will focus on welfare of farmers.

India will launch an ambitious nationwide mission to eliminate Sickle Cell Anaemia by 2047, country's finance minister Nirmala Sitharaman announced in the ...

India will launch an ambitious nationwide mission to eliminate sickle cell anaemia by 2047, country's finance minister Nirmala Sitharaman announced in the annual budget of world's fifth largest economy on February 1. India Budget 2023: India's finance minister Nirmala Sitharaman said that the country will be in a mission-mode to eliminate sickle cell anaemia by 2047. India Budget 2023: Govt announces mission to eliminate sickle cell anaemia by 2047

The Finance Minister, Nirmala Sitharaman, presented the Union Budget—with a slew of announcements, including revision of income tax slabs, lab development, ...

Adding on, the income tax slabs announced under the new tax regime are also likely to benefit salaried women and those engaged in formal employment—particularly from the middle class background—enhancing their capacity to save and take better investment decisions. But the important question that needs to be raised here is, whether this growth target can really be achieved without the women, who comprise of about half of India’s population. Besides, the scheme also entails a partial withdrawal option to help women in emergency situations, thereby making it an important financially benefitting scheme for Indian women.

Budget highlights: CEOs expect big orders from govt as private capex picks up in tandem.

Vivek Lohia, managing director, Jupiter Wagons Group, said the higher budget highlights the importance of investments in high-quality infrastructure for accelerating economic growth. The Adani group plans to invest a massive $107 billion by 2030, and Reliance Industries has announced plans to invest $76 billion towards clean energy projects. The Aditya Birla group also announced plans to enter the green energy segment. This has been complemented by a custom duty and tax reliefs for green mobility,” said Prashant Ruia, director, Essar group, which plans to invest Rs 50,000 crore in hydrogen projects. [infrastructure](/topic/infrastructure) budget to Rs 10 trillion, apart from making additional expenditure on green transition, top Indian companies led by Larsen & Toubro, Siemens, Thermax, HCC, and the Tatas can expect a surge in their order book. “We expect demand to pick up as the government rolls out mega infrastructure projects.

Budget 2023 Live Updates: Finance Minister Nirmala Sitharaman announced hiking the capital expenditure by 33 per cent to Rs 10 lakh crore for infrastructure ...

Budget 2023 allocated an enhanced outlay of Rs 2.70 lakh crore for the highways sector. The outlay for the railways is nine times the amount provided in 2013-2014. Government announced 11 per cent hike in agriculture credit target to Rs 20 lakh crore for the next fiscal year. I proposed to increase the tax rebate limit to Rs 7 lakhs in the new tax regime," Sitharaman said while announcing the new tax slabs in her speech while presenting the Union Budget for 2023-24. The official mouthpiece of the Shiv Sena's Uddhav Thackeray faction, 'Saamana', said it was pre-election budget and a sedative for the people till the next general elections. The Federation of Industry & Commerce of North Eastern Region (FINER) on Wednesday said that the Union Budget 2023 is a "no complaint Budget" and largely beneficial to the northeastern region.FINER's former Chairman and Budget analyst R. The budget clearly reflects PM Modi’s long-term vision for India and it aims to engage with and carry every section of society towards the goal of a self-reliant and strong India,” he added The annual outlay in FY 2023-24 is 12.97 per cent higher than the annual outlay of FY 2022-23.Finance Minister Nirmala Sitharaman in her Budget speech on Wednesday made an announcement to set up Bharat Shared Repository of Inscriptions (BharatSHRI), a digital epigraphy museum, with the digitisation of one lakh ancient inscriptions in the first stage. Finance Minister Nirmala Sitharaman in her Budget speech said a revamped credit guarantee scheme for MSMEs with an outlay of Rs 9,000 crore will be launched from April 1.Apparel Export Promotion Council (AEPC) Chairman Naren Goenka said that the focus on infrastructure, investment, green growth, youth power and inclusive development will boost India's journey to be the fastest-growing robust economy." With the immense rise in allocation towards Pradhan Mantri Awaas Yojana to Rs 79,000 crore for the next fiscal, this is expected to boost the development of more low-income and affordable housing across the country Presenting the Budget 2023, Sitharaman said the outlay for the railways is nine times the amount provided in 2013-2014. The government announced 11 per cent hike in agriculture credit target to Rs 20 lakh crore for next fiscal year with focus on animal husbandry, dairy and fisheries.

Budget 2023 Analysis Live Updates: The last full budget of Modi government before 2024 Lok Sabha elections did give more cash in hand to the middle class, ...

During her speech, Finance Minister Nirmala Sitharaman asserted that the Indian economy is on the right path and heading towards a bright future.

Offering big boost to taxpayers and economy, Sitharaman announced major changes in tax slabs under the new tax regime and big hike in allocation for railways and capital expenditure. Housing recieved a push with a 66% jump in allocation for PM Awas Yojana to over Rs 79,000 cr, compared to Rs 48,000 cr in FY23. For efficient administration of justice and to fast track court cases, Phase-3 of e-courts project will be launched with an outlay of Rs 7,000 crore. The threshold of Rs 10,000 for calculation of TDS on winnings from online gaming has been removed. India will launch a mission to eliminate sickle cell anaemia by 2047, focusing on awareness creation, universal screening of 7 crore people in 0-40 years age group in affected tribal areas. Startups can now take the benefits of carrying forward losses from seven to 10 years. It backs that with a Rs 10,000 crore plan to setup CBG plants. This followed instances of under-reporting of interest income by recipients due to the TDS exemption. Bigger purse for taxpayers: Free to spend New tax regime frees individuals from the maze of deductions, exemptions & taxsaving investments. This is aimed at facilitating efficient flow of credit and would be backed by a legislation in consultation with RBI which regulates similar institutions. While allocation for rural housing has been enhanced to Rs 54,487 cr from Rs 48,422 cr, urban housing has seen a dip to Rs 25,103cr from Rs 28,708 cr in FY23. The date of incorporation for DPIIT-registered startups to avail tax benefits has been extended by ayear to March 31, 2024.