Nirmala Sitharaman, India’s Finance Minister, released a budget proposal for 2023, which emphasised the vision of a developed country. To support Prime Minister Narendra Modi’s “Amrit Kaal” for India’s bright future, Finance Minister Nirmala Sitharaman stated, “This is the first budget in Amrit Kaal, this budget hopes to build on the foundation laid in the previous budget and the blueprint laid for [email protected], we envision a prosperous and inclusive India in which the fruits of development reach all.” The Union budget 2023 predictions regarding the revision of income tax slab partially came true. In light of a better and developed India, let’s look at the key highlights of the Union Budget 2023.
- New Tax Regime
- PMAY Budget Increased
- New Savings Schemes for Senior Citizens and Women
- Launch of Pradhan Mantri Kaushal Vikas Yojana
The new income tax regime will now be the default, but taxpayers can opt to keep the old regime.
The Union Budget 2023 proposed benefits for the citizens and the development of the country, and the allocation of funds for infrastructural development of the country indicates the economic stability of the country post-pandemic. The government is set to improve and strengthen the economy and future of India.
The above are some of the key highlights of the Union Budget 2023 It was a growth-oriented budget with the aim to continue economic growth and recovery with a special focus on infrastructure, education, healthcare, agriculture and startups. Moreover, it announced financial assistance of Rs. 1 lakh crore for states to revitalise the economy.
Disclaimer: Mutual Fund investments are subject to market risks, read all scheme-related documents carefully.
This article has been prepared on the basis of internal data, publicly available information and other sources believed to be reliable. The information contained in this article is for general purposes only and not a complete disclosure of every material fact. It should not be construed as investment advice to any party. The article does not warrant the completeness or accuracy of the information, and disclaims all liabilities, losses and damages arising out of the use of this information. Readers shall be fully liable/responsible for any decision taken on the basis of this article.
10 Best National Pension Schemes (NPS) in India in February 2023National Pension Scheme (NPS) is a retirement benefits scheme launched by the Government of India (... Read More »
What is Sortino Ratio – Formula and Calculations with ExamplesSortino ratio is a statistical tool that helps measure an investment’s performance during a downw... Read More »
What is Forfaiting – Benefits and Process with StepsForfaiting is a financial process involving the management of finance exports. It aids businesses b... Read More »
How to Open, Transfer or Close a PPF Account: Eligibility and DocumentsPPF (Public Provident Fund) investments come with many benefits. You get to enjoy assured returns, ... Read More »
What is an Affidavit – Features, Types, Format and SampleAn affidavit is a sworn written statement, made especially under affirmation or oath befo... Read More »
What is Employee Stock Ownership Plan (ESOP): Scheme, Benefits, Taxation and TypesMost Indian companies, especially startups, offer a plethora of employee benefit plans in a bid to ... Read More »
Sukanya Samriddhi Yojana: Bank Interest Rates and How to Open One?Honourable Prime Minister Narendra Modi launched Sukanya Samriddhi Yojana as an important part of t... Read More »
What is a Prospectus – Working, Types and Use in Mutual FundsA prospectus is a legal document disclosing information regarding a public company seeking to raise... Read More »
A Step-by-Step Guide to UAN Generation and Activation ProcessThe Employee Provident Fund Organisation (EPFO) assigns a unique 12-digit number or UAN (Universal ... Read More »
EPF Vs PPF – Difference, Taxation and Where to InvestEmployees Provident Fund (EPF) and Public Provident Fund (PPF) are two of the most popular long-ter... Read More »
Best SIP Mutual Funds To Invest In India (2023) – Its Types And TaxationA Systematic Investment Plan (SIP) is a convenient way to invest a fixed sum in mutual funds. For i... Read More »
All information is subject to specific conditions | © 2023 Navi Technologies Ltd. All rights are reserved.