Union Budget 2023-24 Highlights: The Modi government has presented the last full budget of its second term in the Parliament. While presenting this budget, Finance Minister Nirmala Sitharaman made several big announcements. The biggest announcement was about changing the tax slab. In which now people with income up to Rs 7 lakh have been exempted from tax. At the same time, the rest of the tax slabs have also been cut. Apart from this, big announcements have been made regarding other sectors as well. Here we are telling you all the big things related to the budget.
- New tax rate of personal income tax: Nil from Rs 0 to 3 lakh, 5% from Rs 3 to 6 lakh, 10% from Rs 6 to 9 lakh, 15% from Rs 9 to 12 lakh, 20% from Rs 12 to 15 lakh and 15 lakh Above will be 30%.
- 2.4 lakh crore will be invested for railways. Railway’s budget has been increased 9 times as compared to 2014. ₹75,000 crore will be spent on transport infra.
- Prosperity program will be run for the farmers through cooperation. Through this, 63000 Agri Societies will be computerized. This will help in making the farmers prosperous. Agriculture credit will be increased to 20 lakh crores. An amount of 6,000 crores has been allocated under the sub-scheme for fisheries.
- No major announcement has been made regarding the health sector. The Finance Minister told that by 2047 the country will be made anaemia-free. Maximum number of labs will be arranged in the medical college. Along with this, work will be done to bring new machines to improve the health sector.
- It has been told in the budget that the lenses of mobile phones and cameras will be cheaper. Apart from this, silver coming from abroad will be cheaper, things related to LED TV and biogas, custom duty on some TV parts, electric cars, toys and cycles etc. will be cheaper.
- Now talk about those things on which the duty has been increased and which are going to be expensive, then gold-silver and platinum will be expensive in this. Cigarettes will be costlier, the duty has been increased to 16%. Apart from this, imported doors, kitchen chimney and foreign toys will also become expensive.
- 50 new airports and helipads will be built and ₹10,000 crore will be spent annually on urban development.
- Under the Senior Citizen Savings Scheme, the limit of Rs 15 lakh has been increased to Rs 30 lakh.
- Under the Monthly Income Account Scheme, the current limit of Rs 4.5 lakh is being increased to Rs 9 lakh.
- Mahila Samman savings certificates will be issued, whose tenure will be for two years and under these, two lakh rupees can be deposited in the name of a woman or a girl child for two years.
- The common ID for the entities will be PAN. 95% of the confiscated amount of MSME will be returned. The amount seized in the Corona epidemic will be returned.
- 35 thousand crore rupees will be invested in the field of energy security. Rs 20,700 crore will be invested in the renewable energy sector.
- Pradhan Mantri Kaushal Vikas Yojana 4.0 will be launched. 30 ‘Skill India International Centers’ will be set up in the country.
- In the next three years, 38,800 teachers and support staff will be appointed in Eklavya schools.
National Digital Library will be established in the country. Institutes of excellence will be opened for the training of teachers.
- PMPBTG Development Mission will be started to improve the socio-economic condition of tribal groups, so that PBTG settlements can be equipped with basic facilities. Rs 15,000 crore will be made available to implement the scheme in the next 3 years.
- The revised fiscal deficit for 2022-2023 is 6.4% of GDP. The fiscal deficit for 2023-2024 is estimated to be 5.9% of GDP.
- Pradhan Mantri Kaushal Vikas Yojana 4.O will be started. 30 Skill India National Sectors will be opened to skill the youth for international opportunities.
- Vehicle replacement includes replacing or scrapping vehicles that increase pollution, they are necessary for a green environment. States will be given assistance regarding this, so that old vehicles can be replaced. Through this, old ambulances will also be replaced, so that it can help in reducing pollution.
- Seven priorities of this general budget were told. The Finance Minister said that she will guide us like Saptarishi. These priorities include… Inclusive growth, Reaching the last person, Infrastructure and investment, Developing own potential, Enhancing green growth, Youth power, Promotion of financial sector.
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