Finance Minister Nirmala Sitharaman declared five major announcements in the new tax regime including an increase in the income tax rebate limit from Rs 5 lakh to Rs 7 lakh stating that the new tax regime will now be the default tax regime.
Finance Minister Nirmala Sitharaman presented the Union Budget 2023 today in Lok Sabha. This was the third time in a row that the government presented the budget in a paperless form.
Shah congratulated the Prime Minister and Finance Minister Nirmala Sitharaman for tabling that budget, saying it lays a strong foundation for 'Amritkal'.
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 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."
Finance Minister Nirmala Sitharaman on Wednesday while addressing the Lok Sabha during the Budget Session proposed to launch an App in which all the relevant aspects of the tourist destination would be made available, in addition to aspects such as physical connectivity, virtual connectivity