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 India@100, 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.
This article is solely for educational purposes. Navi doesn't take any responsibility for the information or claims made in the blog.
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