Indian Finance Minister Nirmala Sitharaman presented the Union Budget 2023-24 on Wednesday (February 1). The government has described the budget as the first of "Amrit Kaal", which pave the way for the nation to grow and achieve Prime Minister Narendra Modi's vision to make India a developed country in the next 25 years.

Indian Finance Minister Nirmala Sitharaman presented the Union Budget 2023-24 on Wednesday (February 1). The government has described the budget as the first of "Amrit Kaal", which pave the way for the nation to grow and achieve Prime Minister Narendra Modi's vision to make India a developed country in the next 25 years. The budget proposed changes to income tax slabs, a steep hike in capital investment, and also a mention of the healthcare sector. In the opening remarks of her speech, Sitharaman hailed the country-wide vaccination drive against coronavirus (COVID-19) in unparallel scale and speed. The finance minister praised India's rising global profile. She noted that several accomplishments, like unique world-class digital public infrastructure for example Aadhar, Co-Win & UPI, are responsible for such significant growth. The finance minister announced that dedicated multidisciplinary courses for medical devices will be supported in existing institutions to ensure the availability of skilled manpower for futuristic medical technologies, high-end manufacturing and research. She added that under health education and skilling, 157 new nursing colleges will be established in co-location with existing medical colleges established since 2014. The finance minister added that facilities in selective ICMR labs will be made available for research by public and private medical college faculty and private sector R&D teams for encouraging collaborative research and innovation. She added that a new programme for research and innovation in pharmaceuticals will be taken up through Centres of Excellence. Allocation of budget: Sitharaman announced that the health sector has been allocated Rs 89,155 crore in the Union Budget 2023-24, which is a hike of around 13 per cent over Rs 79,145 crore allocated in 2022-23. The budget allocation for the AYUSH ministry has been increased from Rs 2,845.75 crore to Rs 3,647.50 crore, which is a 28 per cent increase. Out of Rs 89,155 crore, Rs 86,175 crore has been allocated to the Department of Health and Family Welfare, while Rs 2,980 crore to the Department of Health Research. A new programme for research & innovation in pharmaceuticals will be taken up through Centres of Excellence. Dedicated multi-disciplinary courses for medical devices will be supported in the existing institutions: FM @NSitharaman Ji#AmritKaalBudget pic.twitter.com/tjtJZgejpq — Dr Mansukh Mandaviya (@mansukhmandviya) February 1, 2023 × India's rising global profile is because of several accomplishments like Unique world-class digital public infrastructure, e.g., Aadhar, Co-WIN & UPI. COVID vaccination drive conducted in unparallel scale & speed: FM @NSitharaman#AmritKaalBudget #UnionBudget2023 @PMOIndia pic.twitter.com/XSXZslttFf — Ministry of Health (@MoHFW_INDIA) February 1, 2023 × Mission to eliminate Sickle Cell Disease (SCD) Special mention was given to the mission's launch to eliminate sickle cell anaemia by 2047. The finance minister said that it will entail awareness creation, universal screening of 7 crore people in the age group 0 to 40 years in affected tribal areas and counselling through collaborative efforts. What is Sickle Cell Disease (SCD)? Sickle Cell Disease (SCD) is a genetic condition and is widespread among the tribal population in India and in other vulnerable populations. The Indian Health Minister Mansukh Mandaviya said that the tribals aged below 40 will be provided cards mentioning their sickle cell anaemia status. He said they would get pre-marital counselling about the risk of their child getting the disease if they marry another affected person. After the presentation of the budget, Mandaviya said that the government will take up the eradication of sickle cell anaemia in a mission mode. He also noted that the authorities will conduct massive screening in affected tribal areas for early detection of cases. "Going forward, the government will also issue cards after screening to tribal persons below 40 years affected by the disease mentioning their sickle cell anaemia status and also provide pre-marital counselling to make the patients aware of the detrimental effects of the disease if they marry another sickle cell anaemia patient and give birth," he said. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Union Budget 2023-24: Here's what healthcare sector got from the budget

India's Union Finance Minister Nirmala Sitharaman presented the Union Budget 2023-24 on Wednesday. Here are the major takeaways from the Budget.

Union Budget 2023: Key highlights and takeaways

Indian stock indices experienced some wild swings throughout the day on Wednesday as initial cheer around the budget fizzled out quickly.&nbsp;

While 30-share BSE benchmark Sensex climbed 158.18 points or 0.27 per cent to end at 59,708.08, the broader NSE Nifty declined 45.85 points or 0.26 per cent to end at 17,616.30.&nbsp;

This was the worst budget day performance by Nifty 50 in three years, since the 2.51 per cent fall in 2020.&nbsp; 
&nbsp; 
ITC, Tata Steel, ICICI Bank, Tata Consultancy Services, HDFC, HDFC Bank and Kotak Mahindra Bank were the major gainers in the Sensex, while Bajaj Finserv, State Bank of India, IndusInd Bank and Mahindra &amp; Mahindra were the prominent laggards.&nbsp;

The Indian bond yields market also saw a significant drop after the government announced a gross borrowing at Rs 15 lakh crore for the next financial year. &nbsp;

The benchmark bond yield was at 7.2774 per cent, dropping 11 basis points from the day’s high, while the Indian rupee was largely unchanged against the dollar.&nbsp; 
&nbsp; 
The last full-year budget of the Narendra Modi government ahead of the 2024 general elections focused heavily on increasing capex, while also providing major tax reliefs to the middle class.&nbsp;

Finance Minister Nirmala Sitharaman announced a hike in the capital expenditure by 33 per cent to Rs 10 lakh crore for infrastructure development for 2023-24, which will be at 3.3 per cent of the GDP.&nbsp;

She also tweaked the tax slabs to provide some relief to the middle class whereby they can claim tax rebates on annual income up to Rs 7 lakh in the new tax regime as against Rs 5 lakh.&nbsp; &nbsp;

<h2 paraeid="{f48fa960-eff0-41d3-ae91-39c88c34b169}{6}" paraid="2078380701" >Gold, silver prices shoot up&nbsp;</h2>

Similar fluctuations were witnessed in the prices of gold and silver. After the minister announced a hike in custom duty on articles made from gold and silver bar, price of both the metals increased.&nbsp;

Customs Duties on dore and bars of gold and platinum were increased earlier this fiscal. "I now propose to increase the duties on articles made therefrom to enhance the duty differential. I also propose to increase the import duty on silver dore, bars and articles to align them with that on gold and platinum,” Sitharaman said during her speech.&nbsp;

Gold price jumped Rs 1,090 to Rs 57,942 per 10 grams in the national capital. The yellow metal had closed at Rs 56,852 per 10 grams in the previous trade.&nbsp;

Silver also zoomed Rs 1,947 to Rs 69,897 per kg from Rs 67,950 per kg.&nbsp;

<h2 paraeid="{b3142ef6-6e92-4273-8950-a1e661b54b15}{227}" paraid="1226888474" >Indian rupee falls 2 paise against US dollar&nbsp;</h2>

After initial highs, the Indian rupee settled 2 paise lower at 81.90 (provisional) against the US dollar on Wednesday after the budget.&nbsp;

During the session, the rupee touched an intraday high of 81.68 and a low of 82.03 against the greenback.&nbsp;

Sitharaman in her Budget speech retained the country’s fiscal deficit target of 6.4 per cent in the Revised Estimate for FY23 and cut it to 5.9 per cent for FY24.&nbsp;

(With inputs from agencies)&nbsp;

&nbsp; 
&nbsp;

WATCH WION LIVE HERE: 

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

&nbsp;

&nbsp;

Indian stock indices experienced some wild swings throughout the day on Wednesday as initial cheer around the budget fizzled out quickly. While 30-share BSE benchmark Sensex climbed 158.

Indian stock indices experienced some wild swings throughout the day on Wednesday as initial cheer around the budget fizzled out quickly. While 30-share BSE benchmark Sensex climbed 158.18 points or 0.27 per cent to end at 59,708.08, the broader NSE Nifty declined 45.85 points or 0.26 per cent to end at 17,616.30. This was the worst budget day performance by Nifty 50 in three years, since the 2.51 per cent fall in 2020. ITC, Tata Steel, ICICI Bank, Tata Consultancy Services, HDFC, HDFC Bank and Kotak Mahindra Bank were the major gainers in the Sensex, while Bajaj Finserv, State Bank of India, IndusInd Bank and Mahindra & Mahindra were the prominent laggards. The Indian bond yields market also saw a significant drop after the government announced a gross borrowing at Rs 15 lakh crore for the next financial year. The benchmark bond yield was at 7.2774 per cent, dropping 11 basis points from the day’s high, while the Indian rupee was largely unchanged against the dollar. The last full-year budget of the Narendra Modi government ahead of the 2024 general elections focused heavily on increasing capex, while also providing major tax reliefs to the middle class. Finance Minister Nirmala Sitharaman announced a hike in the capital expenditure by 33 per cent to Rs 10 lakh crore for infrastructure development for 2023-24, which will be at 3.3 per cent of the GDP. She also tweaked the tax slabs to provide some relief to the middle class whereby they can claim tax rebates on annual income up to Rs 7 lakh in the new tax regime as against Rs 5 lakh. Gold, silver prices shoot up Similar fluctuations were witnessed in the prices of gold and silver. After the minister announced a hike in custom duty on articles made from gold and silver bar, price of both the metals increased. Customs Duties on dore and bars of gold and platinum were increased earlier this fiscal. "I now propose to increase the duties on articles made therefrom to enhance the duty differential. I also propose to increase the import duty on silver dore, bars and articles to align them with that on gold and platinum,” Sitharaman said during her speech. Gold price jumped Rs 1,090 to Rs 57,942 per 10 grams in the national capital. The yellow metal had closed at Rs 56,852 per 10 grams in the previous trade. Silver also zoomed Rs 1,947 to Rs 69,897 per kg from Rs 67,950 per kg. Indian rupee falls 2 paise against US dollar After initial highs, the Indian rupee settled 2 paise lower at 81.90 (provisional) against the US dollar on Wednesday after the budget. During the session, the rupee touched an intraday high of 81.68 and a low of 82.03 against the greenback. Sitharaman in her Budget speech retained the country’s fiscal deficit target of 6.4 per cent in the Revised Estimate for FY23 and cut it to 5.9 per cent for FY24. (With inputs from agencies) WATCH WION LIVE HERE:

India’s BSE climbs, NSE performance worst in three years on budget day; rupee slides further 

Indian Finance Minister Nirmala Sitharaman has made the new tax regime more attractive. The rebate limit is upped from Rs 5 to Rs 7 lakh. There is easing of rates in the slabs. Watch this report to know more.

India Budget 2023: Tax rebate extended on income up to ₹7 lakh under the new tax regime

Indian Finance Minister Nirmala Sitharaman presented her fifth straight budget today. This was also the last and full budget of Modi 2.0 govt before the next parliamentary elections in 2024. Watch Ananya in conversation with Arvind Virmani, Member, Niti Aayog as they talk more about the Union Budget 2023-24.

Exclusive | Union Budget 2023: Arvind Virmani, Member, Niti Aayog, speaks to WION

Union Finance Minister Nirmala Sitharaman presented her fifth Union Budget on February 1, for the year 2023-24. Watch in the reactions of Indian residents and youths over the new budget.

Indian residents reactions on Union Budget 2023

WION's Neha Khanna and Jasper Reid decodes foreign investors expectations from India's upcoming budget 2023.

What do foreign investors expect from India's Budget 2023?

India has increased its monetary support for Bhutan and Maldives in its Budget 2023 announced on Wednesday. Afghanistan saw no change in allocation. Countries that saw a decrease in allocation were Bangladesh, Nepal, Sri Lanka, Myanmar, Mongolia, Mauritius, and Seychelles.

India's budget allocation for Afghanistan remains same, support increased to Bhutan, Maldives

Indian Finance Minister Nirmala Sitharaman presented her fifth straight budget today. This was also the last and full budget of Modi 2.0 govt before the next parliamentary elections in 2024. Watch Eric Njoka in a conversation with Nadir Godrej, Managing Director, Godrej Industries as they talk more about the Union Budget 2023-24.

Exclusive | Union Budget 2023: Nadir Godrej, Managing Director, Godrej Industries speaks to WION

India will launch&nbsp;an ambitious nationwide mission to eliminate sickle cell anaemia by 2047, country's finance minister Nirmala Sitharaman announced in the annual budget of world's fifth largest economy on February 1. Sickle cell anaemia, a genetic disease with high fatality rate&nbsp;that alters the shape of blood cells bringing down their capacity to carry oxygen in the body, is a widespread genetic condition in Central India's areas with significant tribal population.&nbsp;

India's mission against sickle cell anaemia: What does it entail?

India's finance minister Nirmala Sitharaman told parliament in New Delhi that the mission will be a collaborative effort between federal government and individual state administrations.

ALSO READ |&nbsp;<a href="https://www.wionews.com/business-economy/budget-2023-live-updates-nirmala-sitharaman-to-present-union-budget-2023-24-in-parliament-today-557696">India Union Budget 2023: Growth at 7 pc in current fiscal, highest among major economies: Nirmala Sitharaman</a>

"It will entail awareness creation, universal screening of 7 crore (70 million) people in the age-group of 0 to 40 years in affected tribal areas and counseling through collaborative efforts of central ministries and state governments," Sitharaman said.

According to India's Ministry of Tribal Affairs, about 1 in 86 children in tribal population are born with sickle Cell Anaemia condition. &nbsp;

Experts say that early detection and treatment of SDC is of "utmost importance for improved health conditions as a nation".&nbsp;

In Budget 2023, India's finance minister, among other initiatives for improving country's health infrastructure, announced that as many as 157 new nursing colleges will be established in the core locations of the existing 157 medical colleges established since 2014.

ALSO WATCH |&nbsp;<a href="https://www.wionews.com/videos/union-budget-2023-will-government-spend-support-growth-or-populism-557747">Union Budget 2023: Will government spend support growth or populism?</a>

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/union-budget-2023-will-government-spend-support-growth-or-populism-557747/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

"Facilities of Indian Council of Medical Research (ICMR) labs will be made available for private R&amp;D (research and development) teams to encourage collaborative work," she added.&nbsp;

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1  width=&quot;100%&quot;"></iframe>

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

India will launch an ambitious nationwide mission to eliminate sickle cell anaemia by 2047, country's finance minister Nirmala Sitharaman announced in the annual budget of world's fifth largest economy on February 1.

India will launch an ambitious nationwide mission to eliminate sickle cell anaemia by 2047, country's finance minister Nirmala Sitharaman announced in the annual budget of world's fifth largest economy on February 1. Sickle cell anaemia, a genetic disease with high fatality rate that alters the shape of blood cells bringing down their capacity to carry oxygen in the body, is a widespread genetic condition in Central India's areas with significant tribal population. India's mission against sickle cell anaemia: What does it entail? India's finance minister Nirmala Sitharaman told parliament in New Delhi that the mission will be a collaborative effort between federal government and individual state administrations. ALSO READ | India Union Budget 2023: Growth at 7 pc in current fiscal, highest among major economies: Nirmala Sitharaman "It will entail awareness creation, universal screening of 7 crore (70 million) people in the age-group of 0 to 40 years in affected tribal areas and counseling through collaborative efforts of central ministries and state governments," Sitharaman said. According to India's Ministry of Tribal Affairs, about 1 in 86 children in tribal population are born with sickle Cell Anaemia condition. Experts say that early detection and treatment of SDC is of "utmost importance for improved health conditions as a nation". In Budget 2023, India's finance minister, among other initiatives for improving country's health infrastructure, announced that as many as 157 new nursing colleges will be established in the core locations of the existing 157 medical colleges established since 2014. ALSO WATCH | Union Budget 2023: Will government spend support growth or populism? × "Facilities of Indian Council of Medical Research (ICMR) labs will be made available for private R&D (research and development) teams to encourage collaborative work," she added. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

India Budget 2023: Govt announces mission to eliminate sickle cell anaemia by 2047

Indian Finance Minister Nirmala Sitharaman presented her fifth straight budget today. This was also the last and full budget of Modi 2.0 govt before the next parliamentary elections in 2024. Watch Eric Njoka in a conversation with Rajnish Kumar, Chairman, BharatPe as they talk more about the Union Budget 2023-24.

Exclusive | Union Budget 2023: Rajnish Kumar, Chairman, BharatPe speaks to WION

Union Budget 2023 was presented by India’s Finance Minister Nirmala Sitharaman on Wednesday, February 1 in the Parliament. Union budget&nbsp;plays an important part in shaping a country’s economic outlook, giving direction to its financial efforts and creating a better business environment. Today, when the world is facing an impending economic recession due supply chain disruptions induced by the Russia-Ukraine war and&nbsp;Covid-19 pandemic, Union Budget 2023 will give the Indian economy and policymakers a clear direction and optimism to continue trudging the path of development and prosperity.&nbsp;

This is similar to India’s first-ever budget post-Independence when India was facing a host of challenges and the Union Budget gave the country’s efforts a much-needed direction. &nbsp;So, it becomes important to revisit India’s first-ever budget announcement that was presented just three months after India became an independent nation on 15th August 1947.&nbsp;

<h2>India’s first ever Union Budget post-Independence</h2>

The first Union Budget of India post-Independence was presented on November 26, 1947, just three months after India got independence from the British Empire. The nation's first Union Budget was delivered by RK Shanmukham Chetty, the then finance minister. The budget covered the time from August 1947 to March 1948, or around seven-and-a-half months. The statement reported a total of Rs 171.15 crore in income and expenses of Rs 197.29 crore throughout the year. Additionally, the fiscal deficit at that time was Rs 26.24 crore. Approximately 92.74 crore&nbsp;of the total funds were allocated for defence services.

<h2>India’s first-ever budget under British Empire</h2>

It must be noted that India’s first formal budget was presented under British Empire. The Budget was initially presented to the British Crown on April 7,1860, by Scottish economist and politician James Wilson from the East India Company. The British empire was struggling with finances after the great Indian mutiny or the First War of Independence fought in 1857-59. So, the budget was presented to better manage the Indian economy.

&nbsp;

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

Union Budget 2023 was presented by India’s Finance Minister Nirmala Sitharaman on Wednesday, February 1 in the Parliament. Union budget plays an important part in shaping a country’s economic outlook, giving direction to its financial efforts and creating a better business environment.

Union Budget 2023 was presented by India’s Finance Minister Nirmala Sitharaman on Wednesday, February 1 in the Parliament. Union budget plays an important part in shaping a country’s economic outlook, giving direction to its financial efforts and creating a better business environment. Today, when the world is facing an impending economic recession due supply chain disruptions induced by the Russia-Ukraine war and Covid-19 pandemic, Union Budget 2023 will give the Indian economy and policymakers a clear direction and optimism to continue trudging the path of development and prosperity. This is similar to India’s first-ever budget post-Independence when India was facing a host of challenges and the Union Budget gave the country’s efforts a much-needed direction. So, it becomes important to revisit India’s first-ever budget announcement that was presented just three months after India became an independent nation on 15th August 1947. India’s first ever Union Budget post-Independence The first Union Budget of India post-Independence was presented on November 26, 1947, just three months after India got independence from the British Empire. The nation's first Union Budget was delivered by RK Shanmukham Chetty, the then finance minister. The budget covered the time from August 1947 to March 1948, or around seven-and-a-half months. The statement reported a total of Rs 171.15 crore in income and expenses of Rs 197.29 crore throughout the year. Additionally, the fiscal deficit at that time was Rs 26.24 crore. Approximately 92.74 crore of the total funds were allocated for defence services. India’s first-ever budget under British Empire It must be noted that India’s first formal budget was presented under British Empire. The Budget was initially presented to the British Crown on April 7,1860, by Scottish economist and politician James Wilson from the East India Company. The British empire was struggling with finances after the great Indian mutiny or the First War of Independence fought in 1857-59. So, the budget was presented to better manage the Indian economy. WATCH WION LIVE HERE

Union Budget 2023: When was India’s first Union Budget presented post Independence, revenue & expense details

Indian finance minister Nirmala Sitharaman on Wednesday (February 7) presented the Union Budget 2023-24 in the Parliament and listed the government's seven priorities for the budget.

Indian finance minister Nirmala Sitharaman on Wednesday (February 7) presented the Union Budget 2023-24 in the Parliament and listed the government's seven priorities for the budget. Addressing the Lok Sabha, finance minister Sitharaman said that these seven priorities complement each other. "Inclusive development, reaching the last mile, infrastructure and investment, unleashing the potential, green growth, youth and financial sector," she said. ALSO READ | Indian Union Budget 2023-24: Key highlights Here are the priorities listed by Finance Minister Nirmala Sitharaman: 1) Inclusive development: For Agricultural and Cooperatives: > Building digital public infrastructure > Setting up an agriculture accelerator fund > Atmanirbhar Bharat Horticulture Clean Plant programme to be launched. > Targeted funding > Making India a global hub for millets > Setting up of widely available storage capacity For Health: > As many as 157 new nursing colleges are to be established > Sickle Cell Anaemia Elimination Mission to be launched > New programme to promote research in pharmaceuticals to be launched > Joint public and private medical research to be encouraged via labs of the Indian Council of Medical Research (ICMR) For Education and Skilling: > Revamped Teachers' training via District Institutes of Education and Training > National Digital Library to be set up for children and adolescents > States will be encouraged to set up physical libraries at panchayat and ward levels Few other crucial factors under Inclusive development > Nine crore drinking water connections to rural houses > Cash transfer of Rs 2.2 lakh crore to over 11.4 crore farmers under the PM-Kisan Samman Nidhi scheme 2) Reaching the last mile: > Pradhan Mantri Particularly Vulnerable Tribal Group (PVTG) Development Mission to be launched > Financial assistance to be given for sustainable micro irrigation in drought-prone regions of Karnataka > More teachers to be recruited for 740 Eklavya Model Residential Schools > Shared Repository of Inscriptions (SHRI) to be set up for digitisation of ancient inscriptions ALSO READ | India Budget 2023: New Delhi's G20 presidency a 'unique opportunity', says Nirmala Sitharaman 3) Infrastructure and investment: > Increased capital expenditure outlay by 33.4 per cent to Rs 10 lakh crore > Continuation of 50-year-interest free loans to state governments to incentivise infrastructure investment > As many as 100 transport infrastructure projects identified for end-to-end connectivity for ports, coal, steel, and fertiliser sectors. > Creating urban infrastructure in Tier-2 and Tier-3 cities via the establishment of the Urban Infrastructure Development Fund (UIDF) 4) Unleashing the potential > Make Artificial Intelligence (AI) work for India by setting up centres of excellence > National Data Governance policy to be introduced > Less stringent contract execution for Ministry of Micro, Small and Medium Enterprises (MSMEs) > Easier and standardised settlement scheme > Third phase of E-Courts to be launched > Entity Digi Locker to be set up for use by business enterprises and charitable trusts > Setting up 100 labs for 5G services-based application development > R&D grant for Lab Grown Diamonds (LGD) sector 5) Green growth > PM Programme for Restoration, Awareness, Nourishment and Amelioration of Mother Earth to be launched. > Sustainable ecosystem development > 500 new Waste to Wealth plants Few other crucial factors under green growth > Promotion of battery energy storage systems > Setting up 10,000 bio-inputs resource centres to facilitate farmers to adopt natural farming > Promotion of coastal shipping for energy-efficient transportation > Funds to be allocated for replacing old polluting vehicles 6) Youth power > Pradhan Mantri Kaushal Vikas Yojana (PMKVY) 4.0 to be launched Will cover new courses such as coding, robotics, AI and 3D printing etc. > Measures to boost the tourism sector At least 50 destinations to be selected, through challenge mode, to be developed as a complete package for domestic and foreign tourists > States to be encouraged to set up Unity Malls ALSO READ | Union Budget 2023-24: Sitharaman's 5 announcements on personal income tax 7) Financial sector > Setting up of National Financial Information registry > Setting up of Central Data processing centre > Credit Guarantee scheme for MSMEs > Mahila Samman Bachat Patra > Benefits for senior citizens Fiscal Management > 50-year interest-free loans to states > Fiscal deficit of 3.5 per cent of GSDP allowed for states > Fiscal consolidation Targeted Fiscal Deficit to be below 4.5% by 2025-26 Tax Proposals > Simplification in indirect taxes > Changes to custom duty on import of capital goods for Li-ion battery manufacturing; import of mobile camera lens; denatured ethyl alcohol; key inputs for producing shrimp feed; seeds for manufacturing lab-grown diamonds; continuing concessional basic customs duty on copper scrap; and compounded rubber to bring it at par with natural rubber. Simplifying personal income tax > In the new tax regime, the income limit for the rebate of income tax increased from Rs 5 lakh to Rs 7 lakh > Highest surcharge rate on income above Rs 5 crore will be reduced from 37% to 25% (under the new tax regime). > Extending benefits of the standard deduction to the new regime for salaried class and pensioners > Increasing tax exemption limit to Rs 25 lakh on leave encashment on retirement for non-government salaried employees Simplifying tax benefits for industries: For MSMEs: > Enhanced limits for micro-enterprises and professionals to avail benefits of presumptive taxation; 95% receipts to be non-cash > Deduction on payments made to MSMEs will be allowed only when the payment is actually made For cooperatives: > Extending 15% corporate tax benefits to new cooperatives, commencing manufacturing till March 31, 2024. > Higher limit of Rs 2 lakh per member for deposits and loans in cash by Primary Agricultural Co-operative Societies (PACS) and Primary Co-operative Agriculture and Rural Development Banks (PCARDBs) > Higher limit of Rs 3 crore for TDS on cash withdrawal for co-operative societies For startups: > Extension of date of incorporation by one year for income tax benefits to start-ups > Benefit of carry forward of losses on change of shareholding of start-ups from seven years of incorporation to ten years. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

India Budget 2023-24: Finance minister Sitharaman lists govt’s seven priorities for new fiscal year

Union Budget 2023 LIVE:&nbsp;Finance Minister Nirmala Sitharaman presented the Union Budget 2023 on Wednesday, February 1. This was the fifth time that the budget was presented by Sitharaman and also the last full one of the Modi-led government before the 2024 Lok Sabha elections. FM Nirmala Sitharaman called the 2023 Union Budget the 'First Budget in Amrit Kaal' and laid out the priorities of this year's budget.&nbsp;FM also mentioned that the Union Budget of 2023-24 symbolises the new inclusive India and will be a blueprint for India@100. One of the major highlights from Nirmala Sitharaman's speech was India's economic growth which is expected to be at 7% which is the highest among all the major growing economies.&nbsp;

The upcoming fiscal year will focus on seven priorities for the kick-off of the first year of the Amrit Kaal:

1. Inclusive development 
2. Reaching the last mile 
3. Infrastructure and investment 
4. Unleashing potential 
5. Green growth 
6. Youth Power 
7. Financial Sector

During her budget speech, Finance Minister Nirmala Sitharaman made announcements about some of the upcoming schemes and policies:&nbsp;

1.&nbsp;Pradhan Mantri Primitive Vulnerable Development Commission&nbsp;

2. New programme to promote research in pharmaceuticals

3. A national digital library for children and adolescents will be set up to facilitate quality books

4. The government also plans to set up massive decentralised storage capacity to help farmers&nbsp;

5. Facilities in select ICMR labs will be made available for research by public and private medical facilities&nbsp;

6. The government will set up a National Financial Information Registry to serve as a central repository of financial and ancillary information

7.&nbsp;To unleash innovation and research by Startups and Academia, a National Data Governance Policy will be brought out which will enable access to anonymised data

8.&nbsp;Three Centres of Excellences of Artificial Intelligence (AI) will be set up to in top educational institutions, leading industry players will partner in conducting interdisciplinary research, and develop cutting-edge applications and scalable problem solutions in the areas of health, agriculture and sustainable system.

9.&nbsp;A Mission to eliminate&nbsp;Sickle-Cell Anaemia&nbsp;by 2047 will be established. There will be screening of 7 crore people in the 0-40 years age group in affected tribal areas.&nbsp;

&nbsp;

&nbsp;

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

Union Budget 2023 LIVE: Finance Minister Nirmala Sitharaman presented the Union Budget 2023 on Wednesday, February 1. This was the fifth time that the budget was presented by Sitharaman and also the last full one of the Modi-led government before the 2024 Lok Sabha elections.

Union Budget 2023 LIVE: Finance Minister Nirmala Sitharaman presented the Union Budget 2023 on Wednesday, February 1. This was the fifth time that the budget was presented by Sitharaman and also the last full one of the Modi-led government before the 2024 Lok Sabha elections. FM Nirmala Sitharaman called the 2023 Union Budget the 'First Budget in Amrit Kaal' and laid out the priorities of this year's budget. FM also mentioned that the Union Budget of 2023-24 symbolises the new inclusive India and will be a blueprint for India@100. One of the major highlights from Nirmala Sitharaman's speech was India's economic growth which is expected to be at 7% which is the highest among all the major growing economies. The upcoming fiscal year will focus on seven priorities for the kick-off of the first year of the Amrit Kaal: 1. Inclusive development 2. Reaching the last mile 3. Infrastructure and investment 4. Unleashing potential 5. Green growth 6. Youth Power 7. Financial Sector During her budget speech, Finance Minister Nirmala Sitharaman made announcements about some of the upcoming schemes and policies: 1. Pradhan Mantri Primitive Vulnerable Development Commission 2. New programme to promote research in pharmaceuticals 3. A national digital library for children and adolescents will be set up to facilitate quality books 4. The government also plans to set up massive decentralised storage capacity to help farmers 5. Facilities in select ICMR labs will be made available for research by public and private medical facilities 6. The government will set up a National Financial Information Registry to serve as a central repository of financial and ancillary information 7. To unleash innovation and research by Startups and Academia, a National Data Governance Policy will be brought out which will enable access to anonymised data 8. Three Centres of Excellences of Artificial Intelligence (AI) will be set up to in top educational institutions, leading industry players will partner in conducting interdisciplinary research, and develop cutting-edge applications and scalable problem solutions in the areas of health, agriculture and sustainable system. 9. A Mission to eliminate Sickle-Cell Anaemia by 2047 will be established. There will be screening of 7 crore people in the 0-40 years age group in affected tribal areas. WATCH WION LIVE HERE

India Budget 2023: Union govt’s ‘seven priorities’ and its new policies, schemes in the new fiscal

Indian Finance Minister Nirmala Sitharaman said that this is the first Budget in 'Amrit Kaal' (75 years of Independence) while presenting the Union Budget 2023-24 in the Parliament on Wednesday (February 1).&nbsp;In her opening remarks, Sitharaman said that the Indian economy is on the right track and heading towards a bright future. She noted that the government's focus is on wide-ranging policies.&nbsp;The finance minister&nbsp;said, “Our current year's economic growth is seven per cent, which is the highest among all major economies.”&nbsp;

She said that the government efforts since 2014 have ensured a better quality of life and a life of dignity for all citizens. The per capita income has more than doubled to Rs 1.97 lakh. In these years, the Indian economy has increased in size from being 10th to the 5th largest in the world.&nbsp;

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet" data-partner="tweetdeck">
Delhi | Finance Minister Nirmala Sitharaman presents <a href="https://twitter.com/hashtag/UnionBudget?src=hash&amp;ref_src=twsrc%5Etfw">#UnionBudget</a> 2023-24 
 
"This is the first Budget in Amrit Kaal," FM says. <a href="https://t.co/JEExXWl2Ko">pic.twitter.com/JEExXWl2Ko</a>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1620656219945078784?ref_src=twsrc%5Etfw">February 1, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

Ahead of the budget presentation, a Union Cabinet meeting chaired by Indian Prime Minister Narendra Modi was held in Parliament.&nbsp;

Sitharaman along with ministers of state Pankaj Chaudhary and Bhagwat Karad and Finance Secretary TV Somanathan called on President Droupadi Murmu.&nbsp;

The finance minister met the President at the Rashtrapati Bhawan before heading to Parliament to present the Union Budget. This was the fifth budget presentation by Sitharaman since 2019.&nbsp;

The budget session of the Parliament had begun on Tuesday with the President's address, followed by the tabling of the Economic Survey for 2022-23.&nbsp;

The formal exercise to prepare the annual Budget for the next financial year (2023-24) commenced on October 10. The Economic Survey said India's GDP is expected to grow in the range of 6 to 6.8 per cent in the coming financial year 2023-24. This is in comparison to the estimated 7 per cent this fiscal and 8.7 per cent in 2021-22.&nbsp;

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

Indian Finance Minister Nirmala Sitharaman said that this is the first Budget in 'Amrit Kaal' (75 years of Independence) while presenting the Union Budget 2023-24 in the Parliament on Wednesday (February 1).

Indian Finance Minister Nirmala Sitharaman said that this is the first Budget in 'Amrit Kaal' (75 years of Independence) while presenting the Union Budget 2023-24 in the Parliament on Wednesday (February 1). In her opening remarks, Sitharaman said that the Indian economy is on the right track and heading towards a bright future. She noted that the government's focus is on wide-ranging policies. The finance minister said, “Our current year's economic growth is seven per cent, which is the highest among all major economies.” She said that the government efforts since 2014 have ensured a better quality of life and a life of dignity for all citizens. The per capita income has more than doubled to Rs 1.97 lakh. In these years, the Indian economy has increased in size from being 10th to the 5th largest in the world. Delhi | Finance Minister Nirmala Sitharaman presents #UnionBudget 2023-24 "This is the first Budget in Amrit Kaal," FM says. pic.twitter.com/JEExXWl2Ko — ANI (@ANI) February 1, 2023 × Ahead of the budget presentation, a Union Cabinet meeting chaired by Indian Prime Minister Narendra Modi was held in Parliament. Sitharaman along with ministers of state Pankaj Chaudhary and Bhagwat Karad and Finance Secretary TV Somanathan called on President Droupadi Murmu. The finance minister met the President at the Rashtrapati Bhawan before heading to Parliament to present the Union Budget. This was the fifth budget presentation by Sitharaman since 2019. The budget session of the Parliament had begun on Tuesday with the President's address, followed by the tabling of the Economic Survey for 2022-23. The formal exercise to prepare the annual Budget for the next financial year (2023-24) commenced on October 10. The Economic Survey said India's GDP is expected to grow in the range of 6 to 6.8 per cent in the coming financial year 2023-24. This is in comparison to the estimated 7 per cent this fiscal and 8.7 per cent in 2021-22. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

'First Budget in Amrit Kaal': Indian economy on the right track with GDP growth at 7%

The Union government of India on Wednesday announced that it will increase capital expenditure by 33 per cent by&nbsp;renewing its focus on the development of railways, roads, ports, and digital infrastructure.&nbsp;Presenting the last full Union Budget of the Modi government ahead of the 2024 general elections, Finance Minister Nirmala Sitharaman said that they have increased the infra outlay to Rs 10 lakh crore for 2023-24, which will be at 3.3 per cent of the Gross Domestic Product (GDP).&nbsp;

She added that an expert committee will be established to make infrastructure classification and financing framework suitable for 'Amrit Kaal' (Golden Era).&nbsp;

“The newly established infrastructure finance secretariat will assist in attracting more private investment,” the finance minister said.&nbsp;

On October 13 last year, Prime Minister Narendra Modi launched the Gati Shakti — National Master Plan, in a bid to develop an integrated infrastructure to reduce logistics costs.&nbsp;

All logistics and connectivity infrastructure projects, entailing an investment of over Rs 500 crore, are routed through the NPG, constituted under the PM Gati Shakti initiative.&nbsp;

The minister also informed that the PM Primitive Vulnerable Tribal Group scheme would benefit 3.5 lakh tribals.&nbsp;

The government’s focus has been to push capital expenditure to spur the economic growth that was hit by the Covid pandemic. It expects that the increase in public spending would result&nbsp;in private investment.&nbsp;

According to the Economic Survey presented by the government on Tuesday, a&nbsp;sustained increase in the private capex is also imminent with the strengthening of the balance sheets of the corporates and the consequent increase in credit financing it has been able to generate.&nbsp;

“Going by the capex multiplier estimated for the country, the economic output of the country is set to increase by at least four times the amount of the capex,” the Survey said.&nbsp;

WATCH WION LIVE HERE: 

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

The Union government of India on Wednesday announced that it will increase capital expenditure by 33 per cent by renewing its focus on the development of railways, roads, ports, and digital infrastructure.

The Union government of India on Wednesday announced that it will increase capital expenditure by 33 per cent by renewing its focus on the development of railways, roads, ports, and digital infrastructure. Presenting the last full Union Budget of the Modi government ahead of the 2024 general elections, Finance Minister Nirmala Sitharaman said that they have increased the infra outlay to Rs 10 lakh crore for 2023-24, which will be at 3.3 per cent of the Gross Domestic Product (GDP). She added that an expert committee will be established to make infrastructure classification and financing framework suitable for 'Amrit Kaal' (Golden Era). “The newly established infrastructure finance secretariat will assist in attracting more private investment,” the finance minister said. On October 13 last year, Prime Minister Narendra Modi launched the Gati Shakti — National Master Plan, in a bid to develop an integrated infrastructure to reduce logistics costs. All logistics and connectivity infrastructure projects, entailing an investment of over Rs 500 crore, are routed through the NPG, constituted under the PM Gati Shakti initiative. The minister also informed that the PM Primitive Vulnerable Tribal Group scheme would benefit 3.5 lakh tribals. The government’s focus has been to push capital expenditure to spur the economic growth that was hit by the Covid pandemic. It expects that the increase in public spending would result in private investment. According to the Economic Survey presented by the government on Tuesday, a sustained increase in the private capex is also imminent with the strengthening of the balance sheets of the corporates and the consequent increase in credit financing it has been able to generate. “Going by the capex multiplier estimated for the country, the economic output of the country is set to increase by at least four times the amount of the capex,” the Survey said. WATCH WION LIVE HERE:

India Budget 2023: Govt increases capital expenditure by 33% for 2023-24 

Union Budget 2023-24 LIVE:&nbsp;As the Union Budget 2023 was presented in the Indian Parliament on Wednesday, February 1 and Finance Minister Nirmala Sitharaman delivered her most-awaited Budget speech, all eyes were on the statements on taxes. The central, NDA-led government by Prime Minister Narendra Modi was widely expected to be giving the common person some tax relief this year, as its the&nbsp;last budget before the 2024 Lok Sabha elections.&nbsp;

On one hand, the slowdown in the economy is affecting tax receipts and on the other hand, state spending is increasing. The industries, business sectors and market analysts are earnestly hoping that the NDA government's final budget before the Lok Sabha polls will be on employment generation and inclusive growth.&nbsp;

The Economic Survey noted in its chapter on India's inclusive growth, "Both official and unofficial sources confirm that employment levels have risen in the current financial year, as the Periodic Labour Force Survey (PLFS) shows that the urban unemployment rate for people aged 15 years and above declined from 9.8 per cent in the quarter ending September 2021 to 7.2 per cent a year later (quarter ending September 2022). This is accompanied by an improvement in the labour force participation rate (LFPR) as well, confirming the emergence of the economy out of the pandemic-induced slowdown early in 2022-23".&nbsp;

<h2>Various types of tax slabs in India</h2>

Individual taxpayers in India pay income tax based on a slab system. A slab system means that different tax rates are prescribed for different income ranges. It means that tax rates continue to rise as the taxpayer's income rises. This type of taxation allows the country to have progressive and equitable tax systems. These income tax slabs are subject to change with each budget. These slab rates differ for different types of taxpayers.

Income tax has three categories of "individual" taxpayers, including:

<ol>
	<li>Individuals (aged less than 60 years), including residents and non-residents</li>
	<li>Resident Senior citizens (60 to 80 years of age)</li>
	<li>Resident Super senior citizens (aged more than 80 years)&nbsp;</li>
</ol>

<h2>Income Tax </h2>

Income Tax is&nbsp;levied on a Hindu Undivided Family or an individual’s net taxable income&nbsp;during a fiscal year that begins on April 1 and ends on March 31 of the following year. It is&nbsp;calculated using an individual’s or a business’s net taxable income. The Government of India has set certain slab rates, i.e., higher and lower slab rates, for the convenience of its citizens.

<h2> 
Income Tax Slab rates announced in the Union Budget 2023-24</h2>

The personal Income Tax&nbsp;rebate limit increased to Rs 7 lakh, from earlier Rs 5 lakh in the new tax regime. People earning up to Rs 7 lakh, do not pay any income tax.

Finance Nirmala Sitharaman announced, "I introduced in 2020, the new personal income tax regime with 6 income slabs, starting from Rs 2.5 Lakhs. I propose to change the tax structure in this regime by reducing the number of slabs to 5 and increasing the tax exemption limit to Rs 3 Lakhs".&nbsp;

An individual with an income of ₹ 15 lakhs&nbsp;will have to pay ₹ 1.5 lakhs tax, down from ₹ 1.87 lakhs under the new tax structure.&nbsp;

<table style="border-collapse:collapse; width:246pt; border:0.5pt solid windowtext" width="327">
	<colgroup>
		<col span="3" style="width:48pt" width="64" />
		<col style="width:102pt" width="135" />
	</colgroup>
	<tbody>
		<tr height="19" style="height:14.5pt">
			<td class="xl68" colspan="3" height="19" style="border:none; border-bottom:0.5pt solid windowtext; border-right:.5pt solid black; height:14.5pt; width:144pt; text-align:center; border-top:0.5pt solid windowtext; border-left:0.5pt solid windowtext; padding-top:1px; padding-right:1px; padding-left:1px; vertical-align:bottom; white-space:nowrap" width="192">Annual Income&nbsp;</td>
			<td class="xl65" style="border:0.5pt solid windowtext; border-left:none; width:102pt; text-align:center; padding-top:1px; padding-right:1px; padding-left:1px; vertical-align:bottom; white-space:nowrap" width="135">New Tax Regime&nbsp;</td>
		</tr>
		<tr height="19" style="height:14.5pt">
			<td class="xl66" colspan="3" height="19" style="border:0.5pt solid windowtext; height:14.5pt; text-align:center; padding-top:1px; padding-right:1px; padding-left:1px; vertical-align:bottom; white-space:nowrap">0-3 lakhs</td>
			<td class="xl67" style="border:0.5pt solid windowtext; border-top:none; border-left:none; text-align:center; padding-top:1px; padding-right:1px; padding-left:1px; vertical-align:bottom; white-space:nowrap">0%</td>
		</tr>
		<tr height="19" style="height:14.5pt">
			<td class="xl66" colspan="3" height="19" style="border:0.5pt solid windowtext; height:14.5pt; text-align:center; padding-top:1px; padding-right:1px; padding-left:1px; vertical-align:bottom; white-space:nowrap">3-6 lakhs</td>
			<td class="xl67" style="border:0.5pt solid windowtext; border-top:none; border-left:none; text-align:center; padding-top:1px; padding-right:1px; padding-left:1px; vertical-align:bottom; white-space:nowrap">5%</td>
		</tr>
		<tr height="19" style="height:14.5pt">
			<td class="xl66" colspan="3" height="19" style="border:0.5pt solid windowtext; height:14.5pt; text-align:center; padding-top:1px; padding-right:1px; padding-left:1px; vertical-align:bottom; white-space:nowrap">6-9 lakhs</td>
			<td class="xl67" style="border:0.5pt solid windowtext; border-top:none; border-left:none; text-align:center; padding-top:1px; padding-right:1px; padding-left:1px; vertical-align:bottom; white-space:nowrap">10%</td>
		</tr>
		<tr height="19" style="height:14.5pt">
			<td class="xl66" colspan="3" height="19" style="border:0.5pt solid windowtext; height:14.5pt; text-align:center; padding-top:1px; padding-right:1px; padding-left:1px; vertical-align:bottom; white-space:nowrap">9-12 lakhs</td>
			<td class="xl67" style="border:0.5pt solid windowtext; border-top:none; border-left:none; text-align:center; padding-top:1px; padding-right:1px; padding-left:1px; vertical-align:bottom; white-space:nowrap">15%</td>
		</tr>
		<tr height="19" style="height:14.5pt">
			<td class="xl66" colspan="3" height="19" style="border:0.5pt solid windowtext; height:14.5pt; text-align:center; padding-top:1px; padding-right:1px; padding-left:1px; vertical-align:bottom; white-space:nowrap">12-15 lakhs</td>
			<td class="xl67" style="border:0.5pt solid windowtext; border-top:none; border-left:none; text-align:center; padding-top:1px; padding-right:1px; padding-left:1px; vertical-align:bottom; white-space:nowrap">20%</td>
		</tr>
		<tr height="19" style="height:14.5pt">
			<td class="xl66" colspan="3" height="19" style="border:0.5pt solid windowtext; height:14.5pt; text-align:center; padding-top:1px; padding-right:1px; padding-left:1px; vertical-align:bottom; white-space:nowrap">Above 15 lakhs</td>
			<td class="xl67" style="border:0.5pt solid windowtext; border-top:none; border-left:none; text-align:center; padding-top:1px; padding-right:1px; padding-left:1px; vertical-align:bottom; white-space:nowrap">30%</td>
		</tr>
	</tbody>
</table>

The Finance minister also reduced the highest surcharge in the country to 25% from the current 37%.&nbsp;

Direct tax proposals

<ul>
	<li>Average processing time for ITRs reduced from 93 days to 16 days</li>
	<li>The&nbsp;government intends to roll out next-gen common IT Return forms and strengthen the grievance redressal mechanism</li>
</ul>

<h2>Previous&nbsp;Income Tax Slab rates&nbsp;</h2>

The previous&nbsp;income tax slabs under the regular income tax regime were:

Up to Rs 2,50,000 income - NIL tax rate 
Rs 2,50,001 - Rs 5,00,000 income - 5% tax rate 
Rs 5,00,001 - Rs 10,00,000 income - 20% tax rate 
Above Rs 10,00,000 income - 30% tax rate&nbsp;

<h2>&nbsp;</h2>

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

Union Budget 2023-24 LIVE: As the Union Budget 2023 was presented in the Indian Parliament on Wednesday, February 1 and Finance Minister Nirmala Sitharaman delivered her most-awaited Budget speech, all eyes were on the statements on taxes.

Union Budget 2023-24 LIVE: As the Union Budget 2023 was presented in the Indian Parliament on Wednesday, February 1 and Finance Minister Nirmala Sitharaman delivered her most-awaited Budget speech, all eyes were on the statements on taxes. The central, NDA-led government by Prime Minister Narendra Modi was widely expected to be giving the common person some tax relief this year, as its the last budget before the 2024 Lok Sabha elections. On one hand, the slowdown in the economy is affecting tax receipts and on the other hand, state spending is increasing. The industries, business sectors and market analysts are earnestly hoping that the NDA government's final budget before the Lok Sabha polls will be on employment generation and inclusive growth. The Economic Survey noted in its chapter on India's inclusive growth, "Both official and unofficial sources confirm that employment levels have risen in the current financial year, as the Periodic Labour Force Survey (PLFS) shows that the urban unemployment rate for people aged 15 years and above declined from 9.8 per cent in the quarter ending September 2021 to 7.2 per cent a year later (quarter ending September 2022). This is accompanied by an improvement in the labour force participation rate (LFPR) as well, confirming the emergence of the economy out of the pandemic-induced slowdown early in 2022-23". Various types of tax slabs in India Individual taxpayers in India pay income tax based on a slab system. A slab system means that different tax rates are prescribed for different income ranges. It means that tax rates continue to rise as the taxpayer's income rises. This type of taxation allows the country to have progressive and equitable tax systems. These income tax slabs are subject to change with each budget. These slab rates differ for different types of taxpayers. Income tax has three categories of "individual" taxpayers, including: Individuals (aged less than 60 years), including residents and non-residents Resident Senior citizens (60 to 80 years of age) Resident Super senior citizens (aged more than 80 years) Income Tax Income Tax is levied on a Hindu Undivided Family or an individual’s net taxable income during a fiscal year that begins on April 1 and ends on March 31 of the following year. It is calculated using an individual’s or a business’s net taxable income. The Government of India has set certain slab rates, i.e., higher and lower slab rates, for the convenience of its citizens. Income Tax Slab rates announced in the Union Budget 2023-24 The personal Income Tax rebate limit increased to Rs 7 lakh, from earlier Rs 5 lakh in the new tax regime. People earning up to Rs 7 lakh, do not pay any income tax. Finance Nirmala Sitharaman announced, "I introduced in 2020, the new personal income tax regime with 6 income slabs, starting from Rs 2.5 Lakhs. I propose to change the tax structure in this regime by reducing the number of slabs to 5 and increasing the tax exemption limit to Rs 3 Lakhs". An individual with an income of ₹ 15 lakhs will have to pay ₹ 1.5 lakhs tax, down from ₹ 1.87 lakhs under the new tax structure. Annual Income New Tax Regime 0-3 lakhs 0% 3-6 lakhs 5% 6-9 lakhs 10% 9-12 lakhs 15% 12-15 lakhs 20% Above 15 lakhs 30% The Finance minister also reduced the highest surcharge in the country to 25% from the current 37%. Direct tax proposals Average processing time for ITRs reduced from 93 days to 16 days The government intends to roll out next-gen common IT Return forms and strengthen the grievance redressal mechanism Previous Income Tax Slab rates The previous income tax slabs under the regular income tax regime were: Up to Rs 2,50,000 income - NIL tax rate Rs 2,50,001 - Rs 5,00,000 income - 5% tax rate Rs 5,00,001 - Rs 10,00,000 income - 20% tax rate Above Rs 10,00,000 income - 30% tax rate WATCH WION LIVE HERE

New Income Tax Slabs Changes 2023-24: Check all the updated tax slab rates

India's finance minister Nirmala Sitharaman said on Wednesday that the country's status as the chair of Group of 20 (G20) nations presents a 'unique opportunity' for New Delhi. "In these times of global challenges, India’s G20 presidency gives us a unique opportunity to strengthen India’s role in the world economic order," finance minister Nirmala Sitharaman said.&nbsp;

The finance minister hailed the 'right track' movement of the Indian economy. She said that the Indian economy is on the right track despite the challenges presented by Covid-19, and is "heading towards a bright future".&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/india-news/union-budget-2023-29-billion-capital-outlay-announced-for-railways-nine-times-of-fy-13-14-557811">Union Budget 2023: $29 billion capital outlay announced for Railways, nine times of FY 13-14</a>

Sitharaman has engaged in collaborative interaction with finance ministers and central bank governors of G20 nations in recent months. She has also engaged with multilateral institutions such as Financial Action Task Force (FATF), the United Nations Development Programme, and Organisation for Economic Cooperation and Development.&nbsp;

The G20 agenda this year will focus on issues such as climate financing, inclusive, equitable, and sustainable growth, energy security, and global cooperation and financing. Its Finance Track will address the critical global financial challenges and will work towards strengthening Multilateral Development Banks (MDBs).

ALSO WATCH |&nbsp;<a href="https://www.wionews.com/videos/gravitas-india-takes-charge-of-g20-presidency-534875">Gravitas: India takes charge of G20 Presidency</a>

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-india-takes-charge-of-g20-presidency-534875/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

The Indian economy will have fast-paced growth at a rate of 7 per cent in the current financial year, Nirmala Sitharaman said triumphantly, adding that India is recognised by the world as a "bright star."&nbsp;

India assumed the G20 presidency at the end of 2022, putting country's diplomacy and foreign policy in a larger global spotlight. The country is actively engaging with all members of the grouping to recognise the objectives and concerns of the global south while discussing ways to build convergence in a challenging period.&nbsp;

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1  width=&quot;100%&quot;"></iframe>

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

India's finance minister Nirmala Sitharaman said on Wednesday that the country's status as the chair of Group of 20 (G20) nations presents a 'unique opportunity' for New Delhi.

India's finance minister Nirmala Sitharaman said on Wednesday that the country's status as the chair of Group of 20 (G20) nations presents a 'unique opportunity' for New Delhi. "In these times of global challenges, India’s G20 presidency gives us a unique opportunity to strengthen India’s role in the world economic order," finance minister Nirmala Sitharaman said. The finance minister hailed the 'right track' movement of the Indian economy. She said that the Indian economy is on the right track despite the challenges presented by Covid-19, and is "heading towards a bright future". ALSO READ | Union Budget 2023: $29 billion capital outlay announced for Railways, nine times of FY 13-14 Sitharaman has engaged in collaborative interaction with finance ministers and central bank governors of G20 nations in recent months. She has also engaged with multilateral institutions such as Financial Action Task Force (FATF), the United Nations Development Programme, and Organisation for Economic Cooperation and Development. The G20 agenda this year will focus on issues such as climate financing, inclusive, equitable, and sustainable growth, energy security, and global cooperation and financing. Its Finance Track will address the critical global financial challenges and will work towards strengthening Multilateral Development Banks (MDBs). ALSO WATCH | Gravitas: India takes charge of G20 Presidency × The Indian economy will have fast-paced growth at a rate of 7 per cent in the current financial year, Nirmala Sitharaman said triumphantly, adding that India is recognised by the world as a "bright star." India assumed the G20 presidency at the end of 2022, putting country's diplomacy and foreign policy in a larger global spotlight. The country is actively engaging with all members of the grouping to recognise the objectives and concerns of the global south while discussing ways to build convergence in a challenging period. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

India Budget 2023: New Delhi’s G20 presidency a ‘unique opportunity’ for nation, says Nirmala Sitharaman

Indian Union Budget 2023-24 LIVE: What's cheaper, What's costlier? Today, Finance Minister Nirmala Sitharaman presented the Indian Union Budget 2023-24 in the Parliament on Wednesday, February 1.

Indian Union Budget 2023-24 LIVE: What's cheaper, What's costlier? Today, Finance Minister Nirmala Sitharaman presented the Indian Union Budget 2023-24 in the Parliament on Wednesday, February 1. On January 31, the finance minister had presented the Economic Survey 2022-23 in Parliament. It was Nirmala Sitharaman's fifth Union Budget and the current government's last Union Budget before the Lok Sabha polls in 2024. In the second part of her 2023 Budget speech, Finance Minister Nirmala Sitharaman mentioned the relief or increase of custom duties on some items. Mobile phone production in India saw a significant increase in the last financial year. Thus, the finance minister proposed a relief on customs duty on imports of certain parts of mobile phones, including camera lenses and lithium-ion cells. Similarly, television components will become cheaper, as per the Indian Union Budget 2023. Before we move towards the items that saw a price change in the Indian Union Budget 2023, let's take a look at today's highlights. Indian Union Budget 2023: Cheaper & Costlier Items Here's the full list of items that got cheaper or costlier in Budget 2023-24. Cheaper Costlier camera lenses of mobile phones, laptops & DSLRs platinum, gold, and silver articles lithium ion batteries electric chimneys open cells of TV panels cigarettes heat coils compounded rubber crude glycerin diamond seeds Highlights of Indian Union Budget 2023: Finance Minister has called the Indian Union Budget 2023, the first budget of the Golden era. The projected economic growth is 7%, the highest among the major economies. Moreover, the Union Budget 2023 has seven priorities including infrastructure and investment. In the Union Budget for the fiscal year 2023, Finance Minister Nirmala Sitharaman covered topics like agriculture, employment, green growth, youth and the financial sector. During the presentation of the Union Budget 2023, Finance Minister Nirmala Sitharaman said, "The Indian economy has increased in size. It became the 5th largest from the 10th largest economy in the last nine years." The finance minister urged the state governments to set up Unity Malls in their respective cultural hubs. For the upcoming fiscal year, the government has laid a capital outlay of ₹2.4 lakh crore for Indian Railways, the highest ever for the department. The fiscal deficit is 5.9 per cent of the GDP for 2023-24, said Finance Minister Nirmala Sitharaman in her Union Budget speech. Indian Union Budget 2023-24: What's costlier? People have awaited the Union Budget 2023 as it directly impacts their daily lives. As the essential and non-essential items get cheaper or costlier, they affect the pockets of the common man. The rates of the items go up or down depending on the duty increases or decreases. Gold, silver and platinum will become pricier. Compounded rubber will also become more expensive. Last but not the least is bad news for smokers. Cigarettes will become costlier, according to the Indian Union Budget 2023. Indian Union Budget 2023-24: What's cheaper? Electric kitchen chimneys will become costlier, and heat coils will become cheaper. Denatured ethyl alcohol will become cheaper to support ethanol blending and energy transitions. Moreover, the Indian Union Budget 2023 makes things easier for the domestic fluro-chemical industries. Marine products, particularly shrimps, recorded the highest export growth in the last financial years and benefitted the farmers. Thus, the inputs for the domestic manufacturing of shrimps will become cheaper. Diamond seeds used in the manufacturing of lab-grown diamonds will become cheaper to promote the diamond industry in India. During her Indian Union Budget 2023 speech, the finance minister said that lab-grown diamond industry holds 'great promise for the nation.' Raw materials used in manufacturing CRGO steel, ferrous scrap, copper scraps and nickel cathode will become cheaper for promoting the industries. Here's the full list of items that got cheaper & costlier in 2022: Costlier Cheaper Headphones and earphones Mobile phone chargers Umbrella Frozen mussels Imitation Jewellery Frozen squids Smart meters Asafoetida Solar cells Cocoa beans Solar modules Methyl Alcohol X-ray machines Cut and polished diamonds Parts of electronic toys Camera lens for cellular mobile phone

Indian Union Budget 2023-24 LIVE: What's become cheaper & What's costlier? Check full list here

Union finance minister Nirmala Sitharaman announced in her Union Budget speech on Wednesday (February 1) that she proposes to increase the income tax rebate limit from Rs 5 lakh to Rs 7 lakh in the new tax regime. Addressing the Lok Sabha in Parliament, Sitharaman said, "I have five major announcements to make concerning personal income tax. These primarily benefit the hard-working middle class."&nbsp;

Sitharaman said that currently, those with income of Rs 5 lakh do not pay any income tax in both old and new regimes. "I propose to increase the rebate limit to Rs 7 lakhs in the new tax regime," she said, adding that people with income up to Rs 7 lakh will not have to pay any tax at all.&nbsp;

<a href="https://www.wionews.com/business-economy/budget-2023-live-updates-nirmala-sitharaman-to-present-union-budget-2023-24-in-parliament-today-557696">Click here to check all Highlights of Finance Minister Nirmala Sitharaman's Union Budget 2023-24 speech</a>

In the second proposal, Sitharaman said that she proposes to change the tax structure in the new personal income tax regime by reducing the number of slabs to five and increasing the tax exemption limit to three.&nbsp;

"For Personal Income Tax, the new tax rates are 0 to Rs 3 lakhs - nil, Rs 3 lakh to 6 lakh&nbsp;- 5 per cent, Rs 6 lakh&nbsp;to 9 lakh&nbsp;- 10 per cent, Rs 9 lakh to 12 lakh&nbsp;- 15 per cent, Rs 12 lakh to 15 lakh&nbsp;- 20 per cent and above Rs 15 lakh&nbsp;- 30 per cent," she said.&nbsp;

Explaining the above point, the FM said that an individual with an annual income of Rs 9 lakh will be required to pay only Rs 45,000. This would be only five per cent of the individual's income.&nbsp;

"My third proposal is for the salaried class and the pensioners, including family pensioners, for whom I propose to extend the benefit of the standard deduction to the new tax regime. Each salaried person with an income of Rs 15.5 lakh or more will thus standby to benefit by Rs 52,000," Sitharaman told Parliament.&nbsp;

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet">
Personal Income Tax from the Budget speech of Finance Minister Nirmala Sitharaman. 
 
(Source: Govt of India) <a href="https://t.co/dYEeRjQ6Nt">pic.twitter.com/dYEeRjQ6Nt</a>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1620684477981925376?ref_src=twsrc%5Etfw">February 1, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

The finance minister's fourth announcement was regarding the highest tax rate in India which is at 42.74 per cent, which is among the highest in the world. "I propose to reduce the highest surcharge from 37% to 25 % in the new tax regime. This would result in the reduction of the maximum rate to 39 per cent."

The fifth and last announcement was regarding the limit for tax exemption on leave encashment on the retirement of non-government salaried employees. Sitharaman told Parliament that the limit of Rs 3 lakh for tax exemption for such employees was last fixed in 2002 when the highest basic pay in the government was Rs 30,000 per month. "In line with the increase in government salaries, I am proposing to increase this limit to Rs 25 lakh."&nbsp;

"We are also making the new income tax regime the default tax regime, however, citizens will continue to have the option to avail the benefits of the old tax regime," Sitharaman pointed out. Apart from the above, Sitharaman also said she was making some other changes as given in the Annexure.&nbsp;

She said that as per a result of these above proposals, the revenue of about Rs 38,000 crore – Rs 37,000 crore in direct taxes and Rs 1,000 crore in indirect taxes-would be forgone while revenue of about Rs 3,000 crore will be additionally mobilised. The total revenue forgone is about Rs 35,000 crore annually.&nbsp;

&nbsp;

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1  width=&quot;100%&quot;"></iframe>

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

Union finance minister Nirmala Sitharaman announced in her Union Budget speech on Wednesday (February 1) that she proposes to increase the income tax rebate limit from Rs 5 lakh to Rs 7 lakh in the new tax regime.

Union finance minister Nirmala Sitharaman announced in her Union Budget speech on Wednesday (February 1) that she proposes to increase the income tax rebate limit from Rs 5 lakh to Rs 7 lakh in the new tax regime. Addressing the Lok Sabha in Parliament, Sitharaman said, "I have five major announcements to make concerning personal income tax. These primarily benefit the hard-working middle class." Sitharaman said that currently, those with income of Rs 5 lakh do not pay any income tax in both old and new regimes. "I propose to increase the rebate limit to Rs 7 lakhs in the new tax regime," she said, adding that people with income up to Rs 7 lakh will not have to pay any tax at all. Click here to check all Highlights of Finance Minister Nirmala Sitharaman's Union Budget 2023-24 speech In the second proposal, Sitharaman said that she proposes to change the tax structure in the new personal income tax regime by reducing the number of slabs to five and increasing the tax exemption limit to three. "For Personal Income Tax, the new tax rates are 0 to Rs 3 lakhs - nil, Rs 3 lakh to 6 lakh - 5 per cent, Rs 6 lakh to 9 lakh - 10 per cent, Rs 9 lakh to 12 lakh - 15 per cent, Rs 12 lakh to 15 lakh - 20 per cent and above Rs 15 lakh - 30 per cent," she said. Explaining the above point, the FM said that an individual with an annual income of Rs 9 lakh will be required to pay only Rs 45,000. This would be only five per cent of the individual's income. "My third proposal is for the salaried class and the pensioners, including family pensioners, for whom I propose to extend the benefit of the standard deduction to the new tax regime. Each salaried person with an income of Rs 15.5 lakh or more will thus standby to benefit by Rs 52,000," Sitharaman told Parliament. Personal Income Tax from the Budget speech of Finance Minister Nirmala Sitharaman. (Source: Govt of India) pic.twitter.com/dYEeRjQ6Nt — ANI (@ANI) February 1, 2023 × The finance minister's fourth announcement was regarding the highest tax rate in India which is at 42.74 per cent, which is among the highest in the world. "I propose to reduce the highest surcharge from 37% to 25 % in the new tax regime. This would result in the reduction of the maximum rate to 39 per cent." The fifth and last announcement was regarding the limit for tax exemption on leave encashment on the retirement of non-government salaried employees. Sitharaman told Parliament that the limit of Rs 3 lakh for tax exemption for such employees was last fixed in 2002 when the highest basic pay in the government was Rs 30,000 per month. "In line with the increase in government salaries, I am proposing to increase this limit to Rs 25 lakh." "We are also making the new income tax regime the default tax regime, however, citizens will continue to have the option to avail the benefits of the old tax regime," Sitharaman pointed out. Apart from the above, Sitharaman also said she was making some other changes as given in the Annexure. She said that as per a result of these above proposals, the revenue of about Rs 38,000 crore – Rs 37,000 crore in direct taxes and Rs 1,000 crore in indirect taxes-would be forgone while revenue of about Rs 3,000 crore will be additionally mobilised. The total revenue forgone is about Rs 35,000 crore annually. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Union Budget 2023-24: Sitharaman's 5 announcements on personal income tax

India has increased its monetary support for Bhutan and Maldives in its Budget 2023 announced on Wednesday. &nbsp;

The Government of India has allocated Rs 2,400 crore for Bhutan, a slight increase compared to last year of Rs 2,266 crore, and Rs 400 crore to the Maldives.&nbsp;

India has been involved in a number of infrastructure projects in the Maldives, including the Greater Malé Connectivity Project. &nbsp;

&nbsp;Afghanistan saw no change in allocation and is set to receive Rs 200 cr. But what is interesting is New Delhi continues its support for the people of the country despite not recognising the Taliban regime. &nbsp;

Taliban took over Kabul&nbsp;in August 2021, and this is the second year in a row that India has continued its monetary support for the country. It’s important to note that while India allocated Rs 200 cr in last year's budget, the revised budget was increased to Rs 350 cr for the same financial year. In the last few months, India sent wheat, vaccines and humanitarian support to the country.&nbsp;

Countries that saw a decrease in allocation were Bangladesh, Nepal, Sri Lanka, Myanmar, Mongolia, Mauritius, and Seychelles. &nbsp;

India allocated Rs 200 cr for Bangladesh this year, which was the same in 2022. Nepal saw a dip, with Indian aid standing at Rs 550 cr, from Rs 750 last year. &nbsp;

Sri Lanka saw a Rs 50 cr cut as the Budget announcement stood at Rs 150 from Rs 200 announced last year. &nbsp;

Myanmar, where India has been involved in key connectivity projects, will receive Rs 400 crore in aid, which is less compared to last year’s allocation of Rs 600 crore. &nbsp;

The announcement for Mongolia stood at Rs 7 cr, compared to Rs 12 cr last year.&nbsp;

In the Indian Ocean Region, Indian support for Mauritius stood at Rs 460 crore versus Rs 900 crore last year and for Seychelles, it stood at Rs 10 cr from previous year's announcement of Rs 14.06 cr.&nbsp;

Announcements were also made for international organisations. New Delhi allocated Rs 17 cr for BIMSTEC Secretariat, Rs 12 Cr for SAARC Secretariat, Rs 12.34 cr for Commonwealth Secretariat, Rs 200 cr for UN. &nbsp;

India has allocated Rs 100 cr for Chabahar port in Iran, which was the same as last year. The port is key to India's connectivity to its west—Iran, Afghanistan, Central Asia and beyond.&nbsp;

WATCH WION LIVE HERE: 

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

India has increased its monetary support for Bhutan and Maldives in its Budget 2023 announced on Wednesday. The Government of India has allocated Rs 2,400 crore for Bhutan, a slight increase compared to last year of Rs 2,266 crore, and Rs 400 crore to the Maldives.

India has increased its monetary support for Bhutan and Maldives in its Budget 2023 announced on Wednesday. The Government of India has allocated Rs 2,400 crore for Bhutan, a slight increase compared to last year of Rs 2,266 crore, and Rs 400 crore to the Maldives. India has been involved in a number of infrastructure projects in the Maldives, including the Greater Malé Connectivity Project. Afghanistan saw no change in allocation and is set to receive Rs 200 cr. But what is interesting is New Delhi continues its support for the people of the country despite not recognising the Taliban regime. Taliban took over Kabul in August 2021, and this is the second year in a row that India has continued its monetary support for the country. It’s important to note that while India allocated Rs 200 cr in last year's budget, the revised budget was increased to Rs 350 cr for the same financial year. In the last few months, India sent wheat, vaccines and humanitarian support to the country. Countries that saw a decrease in allocation were Bangladesh, Nepal, Sri Lanka, Myanmar, Mongolia, Mauritius, and Seychelles. India allocated Rs 200 cr for Bangladesh this year, which was the same in 2022. Nepal saw a dip, with Indian aid standing at Rs 550 cr, from Rs 750 last year. Sri Lanka saw a Rs 50 cr cut as the Budget announcement stood at Rs 150 from Rs 200 announced last year. Myanmar, where India has been involved in key connectivity projects, will receive Rs 400 crore in aid, which is less compared to last year’s allocation of Rs 600 crore. The announcement for Mongolia stood at Rs 7 cr, compared to Rs 12 cr last year. In the Indian Ocean Region, Indian support for Mauritius stood at Rs 460 crore versus Rs 900 crore last year and for Seychelles, it stood at Rs 10 cr from previous year's announcement of Rs 14.06 cr. Announcements were also made for international organisations. New Delhi allocated Rs 17 cr for BIMSTEC Secretariat, Rs 12 Cr for SAARC Secretariat, Rs 12.34 cr for Commonwealth Secretariat, Rs 200 cr for UN. India has allocated Rs 100 cr for Chabahar port in Iran, which was the same as last year. The port is key to India's connectivity to its west—Iran, Afghanistan, Central Asia and beyond. WATCH WION LIVE HERE:

India Budget 2023: Increase in funds for Maldives, Bhutan, support for Afghanistan continues 

WION's Neha Khanna and Jasper Reid decodes the India's economic survey and the big expectations from upcoming budget 2023.

What the world expects from India's Budget 2023?

india-budget-2023

India Budget 2023, News on India Budget 2023, stories on India Budget 2023, articles on India Budget 2023, India Budget 2023 stories at Wion, India Budget 2023 news, India Budget 2023 latest news

india budget-2023