Bihar Industries Association president Arun Agarwal on Wednesday said that the income tax rebate announced by Finance Minister Nirmala Sitharaman is according to the expectations, however, there was no major announcement for Bihar which came as a disappointment.
Finance minister Nirmala Sitharaman, in her Budget for 2023-24 on Wednesday, announced that the government proposes to continue 50-year interest-free loans to state governments for one more year. and has significantly enhanced outlay to Rs 1.3 lakh crore.
While presenting the annual budget in Parliament today, Sitharaman proposed to revise National Calamity Contingent Duty (NCCD) on specified cigarettes.
The Union Budget is "inclusive", a reflection of Nari Shakti and will take us towards becoming one of top 3 economies, said several senior Bharatiya Janata Party (BJP) leaders.
The scheme will emphasize on On-job training, industry partnership, and alignment of courses with needs of industry. She further highlighted that the scheme will also cover new age courses for Industry 4.0 like coding, AI, robotics, mechatronics, IOT, 3D printing, drones, and soft skills.
To skill youth for international opportunities, 30 Skill India International Centres will be set up across different States, the Finance Minister said.
The government proposed to take up 100 critical transport infrastructure projects, for last and first-mile connectivity for ports, coal, steel, fertilizer, and food grains sectors.
Union Finance Minister Nirmala Sitharaman started her speech in the Parliament on Wednesday wherein she termed the Budget the "first budget in Amrit Kaal".
Speaking on the Personal Income Tax rebate in the new tax regime, Sinha said, "Middle class will benefit most from this year's budget. Consumption will increase due to this move and the economy will further boost."