Union Budget 2023: All Updates
Union Finance Minister Nirmala Sitharaman will present the last full budget of the Modi government 2.0 before it seeks re-election next year. This will be Sitharaman's fifth budget presentation since the BJP-led government came to power in 2019 for the second consecutive term. The Economic Survey 2022-23 tabled by Sitharaman in Parliament on Tuesday has projected FY 2024 growth at 6-6.8%.
Sitharaman announces new tax regime for 2023-2024
01 Feb 2023, 01:27 pmNew tax regime per year
1. Rs. 0-3 lakh: No tax
2. Rs. 3-6 lakh: 5 percent tax
3. Rs. 6-9 lakh: 10 percent tax
4. Rs. 9-12 lakh; 15 percent tax
4. Rs. 12-15 lakh: 20 percent tax
6. Above Rs. 15 lakh: 30 percent tax
Note: Tax rebate upto announced upto Rs. 7 lakh
FM announces 'one-time, new small savings scheme for women'
01 Feb 2023, 12:57 pmOne-time, new small savings scheme for women- Mahila Samman Savings Patra (certificate)- will be made available for two year period up to March 2025.
This will offer deposit facility for women/girls upto to 2 lakh for two years tenure at fixed 7.5 percent interest rate with partial withdrawal option.
For senior citizen maximum deposit limit for saving scheme will be enhanced from Rs 15 lakh to Rs 30 lakh
The Monthly income scheme (MIS) increased to Rs 9 lakh, up from Rs 4.5 lakh, for single account. For joint accounts the limit has gone up to Rs 15 lakh, up from Rs 9 lakh.
FM announces new tax regime
01 Feb 2023, 12:32 pmSitharaman has announced new tax regime where rebate extended to upto Rs 7 lakh. No change in tax in old tax regime.
No tax on income upto 7 lakh: FM
01 Feb 2023, 12:30 pmSitharaman said, "Those with income upto 7 lakh will not have to pay any tax at all."
States to be encouraged to set up unity mall in state capitals: FM
01 Feb 2023, 12:13 pmSitharaman said, "States to be encouraged to set up unity mall in their state capital for the promotion and sale of their 'one district one product', GI products, and other handicraft products and for providing space for such products of all other states."
50 additional airports, helipods, water aerodromes and advanced landing grounds to be revived for improving regional air connectivity: FM
01 Feb 2023, 12:12 pm157 new nursing colleges will be established in core locations: FM
01 Feb 2023, 12:11 pmSitharaman said, "157 new nursing colleges will be established in core locations. A mission to eliminate sickle cell Anemia by 2047 will be launched entailing awareness creation & universal screening of 7 cr. people in affected tribal areas."
50-year- interest-free loan to states to continue for one more year: FM
01 Feb 2023, 12:07 pmSitharaman said, "The 50-year interest-free loan to state governments to be continued for one more year, to spur investment in infra and to incentivize them for complimentary policy actions, with enhanced outlay of Rs. 1.3 lakh crores."
Artificial Intelligence research centres of excellence will be set up in top educational institutions: FM
01 Feb 2023, 11:58 amSitharaman said, "Three Artificial Intelligence (AI) research centres of excellence will be set up in top educational institutions for Make AI in India and Make AI Work for India. Leading industry players will partner in this research. FM emphasises on AI eco-system for scalable problem solution in health, agriculture and sustainable cities."
100 labs for developing applications for using 5G services will be set up: FM
01 Feb 2023, 11:55 amSitharaman said, "100 labs for developing applications for using 5G services will be set up. It will enable smart class room and precision farming, intelligent transportation and healtcare."
Digilocker services will be expanded: FM
01 Feb 2023, 11:50 amPAN Cards will be used as common business identifier: FM
01 Feb 2023, 11:49 amFM announces National Digital Library
01 Feb 2023, 11:45 amSitharaman has announced a national digital library for children and adolescents to make up for the learning loss during the pandemic.
FM proposes three Artificial Intelligence (AI) research centres for Make AI in India and Make AI Work for India
01 Feb 2023, 11:43 amFM said three Artificial Intelligence (AI) research centres of excellence will be set up in top educational institutions for Make AI in India and Make AI Work for India. Leading industry players will partner in this research. FM emphasises on AI eco-system for scalable problem solution in health, agriculture and sustainable cities.
Agriculture Credit Target to be increased to Rs. 20 lakh crores: FM
01 Feb 2023, 11:42 amSitharaman said, "Agriculture Credit Target to be increased to Rs. 20 lakh crores, with focus on animal husbandry, dairy and fisheries."
Govt to launch a Rs 2,200 crore Aatmanirbhar clean plan programme: FM
01 Feb 2023, 11:37 amGovt to set up 157 nursing colleges: FM
01 Feb 2023, 11:36 amAgriculture credit target expanded to Rs 20 lakh crore: FM
01 Feb 2023, 11:36 amSitharaman said, "Agriculture credit target expanded to Rs 20 lakh crore."
FM proposes to increase capital expenditure
01 Feb 2023, 11:36 amFM proposes to increase capital expenditure by 33 percent to Rs 10 lakh crore, which would be 3.3% of the GDP.
FM states seven focuses in Budget
01 Feb 2023, 11:32 amSitharaman said, "7 focuses in Budget. 1. Inclusive development. 2. Reaching last mile. 3. Infrastructure and investment. 4. unleashing potential. 5. Green growth. 6. Youth Power. 7. Financial Sector."
Economic empowerment of women can be transformative: FM
01 Feb 2023, 11:31 amSitharaman said, "Economic empowerment of women is one opportunity which can be transformative in achieving our vision by focusing on the above areas."
ICMR labs will be made available for private sector for collaborations: FM
01 Feb 2023, 11:29 amSitharaman said, "ICMR labs will be made available for private sector for collaborations."
Tourism will be promoted in private and public partnership: Sitharaman
01 Feb 2023, 11:19 amSitharaman said, "Promotion of tourism will be taken up with active support of states and in private and public partnership."
Govt's focus on reforms and sound policies helped us in trying times: Sitharaman
01 Feb 2023, 11:18 amSitharaman said, "Our focus on reforms and sound policies resulting in Jan Bhagidari helped us in trying times, our rising global profile is due to several accomplishments."
India's economy growing at 7 percent: Sitharaman
01 Feb 2023, 11:17 amFM sees economy growing at 7 percent in the current fiscal year, which is the highest among major economies.
Indian economy increased to fifth largest in the world in 9 years: Sitharaman
01 Feb 2023, 11:16 amSitharaman said, "Indian economy has increased in size from being tenth to 5th largest in the world in the last 9 years, we have made significant progress in many SDGs, economy has become lot more formalized, efficient implementation of schemes has brought about inclusive development."
G20 Presidency helps to strengthen India's role in world economic order: Sitharaman
01 Feb 2023, 11:15 amSitharaman said, "G20 Presidency gives us a unique opportunity to strengthen our role in the world economic order, we are steering an ambitious people-centric agenda to address global challenges and facilitate sustainable economic development."
Entire expenditure of PM Garib Kalyan Anna Yojana borne by Centre: Sitharaman
01 Feb 2023, 11:14 amSitharaman said, "Entire expenditure of about Rs. 2 lakh crore under PM Garib Kalyan Anna Yojana is being borne by the central government, for supplying free food grains for one year to all Antyodaya and priroity households."
Indian economy on right track: Sitharaman
01 Feb 2023, 11:12 amSitharaman said, "The Indian economy is on the right track, heading to a bright future. Our focus on reforms and sound policies resulting in Jan Bhagidari helped us in trying times, our rising global profile is due to several accomplishments."
The world recognized India as bright star: Sitharaman
01 Feb 2023, 11:11 amSitharaman said, "The world has recognized India as a bright star, our growth for current year is estimated at 7.0%, this is the highest among all major economies, in spite of massive global slowdown caused by pandemic and the war."
This is the first budget in Amrit Kaal: Sitharaman
01 Feb 2023, 11:10 amSitharaman said, "This is the first budget in Amrit Kaal, this budget hopes to build on the foundation laid in previous budget and the blueprint laid for India@100, we envision a prosperous and inclusive India in which the fruits of development reach all."
Nirmala Sitharaman arrives in Parliament
01 Feb 2023, 11:09 amUnion Finance Minister @nsitharaman arrives in Parliament to present #UnionBudget 2023-24
— PIB India (@PIB_India) February 1, 2023
Stay tuned for the highlights and watch the #AmritKaalBudget Speech here⬇️https://t.co/98WziRP2dK#UnionBudget2023 pic.twitter.com/CDCVtuTtG4
Sitharaman calls on President Murmu before presenting budget
01 Feb 2023, 10:57 amUnion Finance Minister @nsitharaman called on President #DroupadiMurmu at @rashtrapatibhvn before presenting the #UnionBudget 2023-24 pic.twitter.com/WLFx6S4v5g
— PIB India (@PIB_India) February 1, 2023
Nirmala Sitharaman to present Budget 2023 from 11 am
01 Feb 2023, 10:57 amLIVE at 11 am
— PIB India (@PIB_India) February 1, 2023
Union Finance Minister @nsitharaman to present the #UnionBudget 2023-24 in Parliament
Watch on #PIB's
Facebook: https://t.co/YLxwhcVMqq
YouTube: https://t.co/98WziRP2dK#UnionBudget2023
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