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; 
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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 has unveiled a $550 billion budget for 2023-24. It is the last full-fledged budget of the second term of the Modi government before the general election next year. Molly gambhir reports.

Gravitas: India's annual budget to boost its superpower ambitions

Veteran banker Naina Lal Kidwai tells Vikram Chandra how India's Budget 2023 keeps a focus on growth while also ensuring fiscal consolidation.

The India Story | Naina Lal Kidwai explains the twin focus of Budget 2023

Arun Chawla, Director General of FICCI, tells Vikram Chandra what he thought of Budget 2023.

The India Story | Arun Chawla, Director General of FICCI, on India's Budget 2023

Investment mogul Madhu Kela tells Vikram Chandra why he thought the Union Budget 2023, presented by Finance Minister Nirmala Sitharaman, is unlike anything he has seen in history.

The India Story | Madhu Kela on India's Budget 2023

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

Union Finance Minister Nirmala Sitharaman wore a red and black temple border handloom saree as she entered the Lok Sabha to present Budget 2023 on Wednesday.&nbsp;FM Sitharaman opted for a red and black temple border handloom saree with intricate Kasuti threadwork all over, which is unique to Karnataka, a southern state in India. A staunch supporter of traditional handlooms ever since she became the Finance Minister, Sitharaman has always opted to promote handloom sarees when presenting the Union budget in the past years.&nbsp; 
 
With a red digital tablet in hand, Sitharaman looked elegant as she posed for photographs in front of the Ministry of Finance, Central Secretariat on Wednesday morning. She completed her simple look with a small bindi on her forehead and gold bangles.

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Union Finance Minister <a href="https://twitter.com/nsitharaman?ref_src=twsrc%5Etfw">@nsitharaman</a> called on President <a href="https://twitter.com/hashtag/DroupadiMurmu?src=hash&amp;ref_src=twsrc%5Etfw">#DroupadiMurmu</a> at <a href="https://twitter.com/rashtrapatibhvn?ref_src=twsrc%5Etfw">@rashtrapatibhvn</a> before presenting the <a href="https://twitter.com/hashtag/UnionBudget?src=hash&amp;ref_src=twsrc%5Etfw">#UnionBudget</a> 2023-24 <a href="https://t.co/WLFx6S4v5g">pic.twitter.com/WLFx6S4v5g</a>
— PIB India (@PIB_India) <a href="https://twitter.com/PIB_India/status/1620640979874357248?ref_src=twsrc%5Etfw">February 1, 2023</a></blockquote>
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Delhi | Finance Minister Nirmala Sitharaman all set to present the Union Budget 2023 at 11am today 
 
This is the BJP government's last full Budget before the 2024 general elections. <a href="https://t.co/m2NRMHW7Ut">pic.twitter.com/m2NRMHW7Ut</a>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1620625743888941056?ref_src=twsrc%5Etfw">February 1, 2023</a></blockquote>
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The Finance Minister has promoted handloom sarees in the past. Here's a look at her sartorial choices in the past budget sessions.&nbsp; 
 
In 2022, Sitharaman wore a rust and maroon handloom Bomkai saree which is typically weaved in Orissa. &nbsp;The rusty brown tone of her saree was a combination of two colours, brown and red, that many feel represents resilience, dependability, security, safety, warmth, love and power.&nbsp;

<img alt="f" data-entity-type="file" data-entity-uuid="441aa5c2-fcca-4bcc-8d95-f3a6d235018a" src="//cdn.wionews.com/sites/default/files/inline-images/Your%20paragraph%20text%20%2883%29.jpg" /> 
 
In 2021, Sitharaman wore a classic red and off-white silk Pochampally sari with ikat patterns around the pallu and a green border. Pochampally ikat is traditionally made in the south Indian state of Telangana also known as the 'silk city of India'. <a href="https://www.wionews.com/business-economy/budget-2023-live-updates-nirmala-sitharaman-to-present-union-budget-2023-24-in-parliament-today-557696">Follow LIVE update of the Union Budget 2023 here</a> 
 
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In 2020, Sitharaman opted for a bright yellow-gold silk saree. The yellow colour is often considered a sacred colour which stands for prosperity.

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2019 was Sitharaman's first Budget presentation as the Union Finance Minister. She chose to wear a simple pink Mangalgiri saree with a gold border for the day.&nbsp;

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Union Finance Minister Nirmala Sitharaman wore a red and black temple border handloom saree as she entered the Lok Sabha to present Budget 2023 on Wednesday. FM Sitharaman opted for a red and black temple border handloom saree with intricate Kasuti threadwork all over, which is unique to Karnataka, a southern state in India.

Union Finance Minister Nirmala Sitharaman wore a red and black temple border handloom saree as she entered the Lok Sabha to present Budget 2023 on Wednesday. FM Sitharaman opted for a red and black temple border handloom saree with intricate Kasuti threadwork all over, which is unique to Karnataka, a southern state in India. A staunch supporter of traditional handlooms ever since she became the Finance Minister, Sitharaman has always opted to promote handloom sarees when presenting the Union budget in the past years. With a red digital tablet in hand, Sitharaman looked elegant as she posed for photographs in front of the Ministry of Finance, Central Secretariat on Wednesday morning. She completed her simple look with a small bindi on her forehead and gold bangles. Union 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 × Delhi | Finance Minister Nirmala Sitharaman all set to present the Union Budget 2023 at 11am today This is the BJP government's last full Budget before the 2024 general elections. pic.twitter.com/m2NRMHW7Ut — ANI (@ANI) February 1, 2023 × The Finance Minister has promoted handloom sarees in the past. Here's a look at her sartorial choices in the past budget sessions. In 2022, Sitharaman wore a rust and maroon handloom Bomkai saree which is typically weaved in Orissa. The rusty brown tone of her saree was a combination of two colours, brown and red, that many feel represents resilience, dependability, security, safety, warmth, love and power. In 2021, Sitharaman wore a classic red and off-white silk Pochampally sari with ikat patterns around the pallu and a green border. Pochampally ikat is traditionally made in the south Indian state of Telangana also known as the 'silk city of India'. Follow LIVE update of the Union Budget 2023 here In 2020, Sitharaman opted for a bright yellow-gold silk saree. The yellow colour is often considered a sacred colour which stands for prosperity. 2019 was Sitharaman's first Budget presentation as the Union Finance Minister. She chose to wear a simple pink Mangalgiri saree with a gold border for the day.

FM Nirmala Sitharaman opts for a handloom saree to present Budget 2023

Union Budget 2023: Every year, taxpayers wait for the presentation of the Union Budget by the Finance Minister in Parliament. According to the Ministry of Finance, the annual Union Budget of India is in the final preparation stage. Moreover, this year people have expectations from the government as it is the last Union Budget of the current administration before the 2024 Lok Sabha elections. The Government of India has finalised the date for the Union Budget presentation. Finance Minister Nirmala Sitharaman will present the Union Budget 2023 on Wednesday,1 February.&nbsp;&nbsp;The Union Budget presentation will start at 11:00 AM on 1 February&nbsp;2023.&nbsp;

Here's everything you need to know about the Union Budget 2023.&nbsp;

<h2>Union Budget 2023: Date &amp; Time</h2>

The Union Budget throws light on the government's finances and defines the economic policies for the upcoming year. People are eager to catch the Budget 2023 live because of the global economic transitions. The Central government has already fixed the date and time for the presentation of the Union Budget 2023-24.&nbsp;

The Union Budget session 2023, will be presented by Finance Minister Nirmala Sitharaman at 11 AM and will continue for up to two hours.

<h2>WATCH LIVE: Union Budget 2023</h2>

The upcoming Finance Bill on 1 February will be the final annual Union Budget ahead of the Lok Sabha elections in 2024. Furthermore, the global surge in interest rates has made the Union Budget more intriguing.

You can witness the live streaming on Sansad TV and Doordarshan. You don't have to worry if you do not own a television. You can also catch the Union Budget 2023 LIVE on the official YouTube channels of Sansad TV and Doordarshan.

ALSO READ |&nbsp;<a href="www.wionews.com/business-economy/after-sacking-12000-employees-googles-ceo-sundar-pichai-to-take-massive-pay-cut-557092">After sacking 12000 employees, Google's CEO Sundar Pichai to take massive pay cut?</a>

Union Budget 2023: Every year, taxpayers wait for the presentation of the Union Budget by the Finance Minister in Parliament. According to the Ministry of Finance, the annual Union Budget of India is in the final preparation stage.

Union Budget 2023: Every year, taxpayers wait for the presentation of the Union Budget by the Finance Minister in Parliament. According to the Ministry of Finance, the annual Union Budget of India is in the final preparation stage. Moreover, this year people have expectations from the government as it is the last Union Budget of the current administration before the 2024 Lok Sabha elections. The Government of India has finalised the date for the Union Budget presentation. Finance Minister Nirmala Sitharaman will present the Union Budget 2023 on Wednesday,1 February. The Union Budget presentation will start at 11:00 AM on 1 February 2023. Here's everything you need to know about the Union Budget 2023. Union Budget 2023: Date & Time The Union Budget throws light on the government's finances and defines the economic policies for the upcoming year. People are eager to catch the Budget 2023 live because of the global economic transitions. The Central government has already fixed the date and time for the presentation of the Union Budget 2023-24. The Union Budget session 2023, will be presented by Finance Minister Nirmala Sitharaman at 11 AM and will continue for up to two hours. WATCH LIVE: Union Budget 2023 The upcoming Finance Bill on 1 February will be the final annual Union Budget ahead of the Lok Sabha elections in 2024. Furthermore, the global surge in interest rates has made the Union Budget more intriguing. You can witness the live streaming on Sansad TV and Doordarshan. You don't have to worry if you do not own a television. You can also catch the Union Budget 2023 LIVE on the official YouTube channels of Sansad TV and Doordarshan. ALSO READ | After sacking 12000 employees, Google's CEO Sundar Pichai to take massive pay cut?

Budget 2023 & Speech Start Time: When, Where & How To Watch It Live to check all the major announcements

The world is battling a climate emergency, stopping climate change is doable but time is running out. India is working to reduce carbon emission on a massive scale, presenting the budget, the country's Finance Minister Nirmala Sitharaman listed green growth as the key priority for the country.

WION Climate Tracker: India's focus on Green Growth, aims 'Net Zero' target by 2070

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's finance minister, Nirmala Sitharaman, on Wednesday presented her fifth budget and her&nbsp;speech, which lasted 87 minutes, also turned out to be her shortest one so far. Sitharaman's budget speech in 2022&nbsp;was close to 92 minutes, which at that time was the shortest. A year earlier, in 2021, she spoke for 110 minutes (or an hour and 50 minutes).

Watch |&nbsp;Exclusive | Union Budget 2023: Sanjiv Bajaj, President of CII speaks to WION

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The finance minister also holds the&nbsp;record for the longest budget speech in India's history. In 2020, her speech was clocked at 2 hours and 40 minutes; because of her health, she was actually forced to cut it short and take a breather.

With this budget, she also became the sixth Finance Minister of Independent India to present five consecutive financial statements.

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/mahila-samman-saving-certificate-india-encourages-women-to-increase-savings-know-everything-about-it-557909">Mahila Samman Saving Certificate: India encourages women to increase savings. Know everything about it</a>

Other ministers to have achieved that feat are Arun Jaitley, P Chidambaram, Yashwant Sinha, Manmohan Singh and Morarji Desai.

However, the record is held by former Prime Minister Morarji Desai who holds the record for presenting 10 budgets—the maximum by any Finance Minister.

Also read |&nbsp;<a href="https://www.wionews.com/india-news/india-budget-2023-increase-in-funds-for-maldives-bhutan-support-for-afghanistan-continues-557859">India Budget 2023: Increase in funds for Maldives, Bhutan, support for Afghanistan continues&nbsp;</a>

Sitharaman is only the second woman to have presented the budget in independent India. The first was former Prime Minister&nbsp;Indira Gandhi who presented the financial statement for the financial year 1970-71.

This year's speech was Sitharaman's last full-fledged budget speech of the current government as the country will be holding its general elections next year.

(With inputs from agencies)

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India's finance minister, Nirmala Sitharaman, on Wednesday presented her fifth budget and her speech, which lasted 87 minutes, also turned out to be her shortest one so far.

India's finance minister, Nirmala Sitharaman, on Wednesday presented her fifth budget and her speech, which lasted 87 minutes, also turned out to be her shortest one so far. Sitharaman's budget speech in 2022 was close to 92 minutes, which at that time was the shortest. A year earlier, in 2021, she spoke for 110 minutes (or an hour and 50 minutes). Watch | Exclusive | Union Budget 2023: Sanjiv Bajaj, President of CII speaks to WION The finance minister also holds the record for the longest budget speech in India's history. In 2020, her speech was clocked at 2 hours and 40 minutes; because of her health, she was actually forced to cut it short and take a breather. With this budget, she also became the sixth Finance Minister of Independent India to present five consecutive financial statements. Also read | Mahila Samman Saving Certificate: India encourages women to increase savings. Know everything about it Other ministers to have achieved that feat are Arun Jaitley, P Chidambaram, Yashwant Sinha, Manmohan Singh and Morarji Desai. However, the record is held by former Prime Minister Morarji Desai who holds the record for presenting 10 budgets—the maximum by any Finance Minister. Also read | India Budget 2023: Increase in funds for Maldives, Bhutan, support for Afghanistan continues Sitharaman is only the second woman to have presented the budget in independent India. The first was former Prime Minister Indira Gandhi who presented the financial statement for the financial year 1970-71. This year's speech was Sitharaman's last full-fledged budget speech of the current government as the country will be holding its general elections next year. (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.

At 87 minutes, this year’s Union Budget speech is Nirmala Sitharaman’s shortest

Indian Finance Minister Nirmala Sitharaman announced on Wednesday (February 1) that a National Digital Library for children and adolescents will be set up for facilitating the availability of quality books across geographies, languages, genres and levels and device-agnostic accessibility.&nbsp;

During her Budget speech in the Parliament, Sitharaman said that states will be encouraged to set up physical libraries at panchayat and ward levels and provide infrastructure for accessing the National Digital Library resources.&nbsp;

The finance minister also mentioned that the central government will recruit 38,800 teachers and support staff for 740 Eklavya Model Residential Schools serving 3.5 lakh tribal students. For the unversed, the Eklavya Model Residential School is a scheme launched by the Indian government for model residential schools, specifically for Scheduled Tribes across India.&nbsp;

Sitharaman announced that for realising the vision of "Make AI in India" and "Make AI work for India", three centres of excellence for artificial intelligence will be set up in top educational institutions.&nbsp;

She also mentioned that to empower our youth and help the 'Amrit Peedhi' realise their dreams, the government has formulated a National Education Policy – and one focus of this policy is skilling youths by adopting economic policies that facilitate job creation.&nbsp;

The finance minister said that to skill the youth for international opportunities, 30 Skill India International Centres will be set up across different states.&nbsp;

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Indian Finance Minister Nirmala Sitharaman announced on Wednesday (February 1) that a National Digital Library for children and adolescents will be set up for facilitating the availability of quality books across geographies, languages, genres and levels and device-agnostic accessibility.

Indian Finance Minister Nirmala Sitharaman announced on Wednesday (February 1) that a National Digital Library for children and adolescents will be set up for facilitating the availability of quality books across geographies, languages, genres and levels and device-agnostic accessibility. During her Budget speech in the Parliament, Sitharaman said that states will be encouraged to set up physical libraries at panchayat and ward levels and provide infrastructure for accessing the National Digital Library resources. The finance minister also mentioned that the central government will recruit 38,800 teachers and support staff for 740 Eklavya Model Residential Schools serving 3.5 lakh tribal students. For the unversed, the Eklavya Model Residential School is a scheme launched by the Indian government for model residential schools, specifically for Scheduled Tribes across India. Sitharaman announced that for realising the vision of "Make AI in India" and "Make AI work for India", three centres of excellence for artificial intelligence will be set up in top educational institutions. She also mentioned that to empower our youth and help the 'Amrit Peedhi' realise their dreams, the government has formulated a National Education Policy – and one focus of this policy is skilling youths by adopting economic policies that facilitate job creation. The finance minister said that to skill the youth for international opportunities, 30 Skill India International Centres will be set up across different states. 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: National Digital Library for kids, AI centres in top educational institutions

India's Union Finance Minister Nirmala Sitharaman on Wednesday announced a whopping capital outlay of $29 billion (Rs 2.40 lakh crore) for India Railways in her budget speech.

India's Union Finance Minister Nirmala Sitharaman on Wednesday announced a whopping capital outlay of $29 billion (Rs 2.40 lakh crore) for India Railways in her budget speech. The minister said the amount was nine times the capital outlay laid out in 2013-14. "The Indian Railways capital outlay has been set at 2.40 lakh crore, highest ever; 9x of what was in 2013," said Sitharaman during the speech. The allocated funds will be used to build new trains, railway tracks, increase passenger facilities and ramp up the infrastructure to a world-class level. The government has been targeting 100 per cent electrification of the railway network across the country. It is also attempting to lay 2,000 kilometres of new tracks to increase connectivity. Notably, in 2013-14, the capital outlay for Railways stood at $7.7 billion (Rs 63,363 crore) as announced by then railway minister Pawan Kumar Bansal. While Sitharaman did not share any specifications regarding the Vande Bharat trains or the bullet trains, experts suggested that the money will be steadily used for the same. Interestingly, the Railways had asked for an outlay of $30.5 billion (Rs 2.5 lakh crore) in the lead-up to the budget for the financial year 2023-24. Earlier in her speech, the finance minister said the overall capital investment outlay was being increased by 33 per cent to Rs 10 lakh crore, which is 3.3 per cent of India's GDP. 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. Read more: 'First Budget in Amrit Kaal': Indian economy on right track with GDP growth at 7% 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 also called on President Droupadi Murmu. (With inputs from agencies) WATCH WION LIVE HERE:

India Union Budget 2023: $29 billion capital outlay announced for Railways, nine times of FY 13-14

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>

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"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;

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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

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

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;

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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>
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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;

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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;

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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 

Expressing his thoughts on India’s Union Budget 2023–24&nbsp;after it was tabled by India’s Finance Minister Nirmala Sitharaman in the Parliament on Wednesday, Indian Prime Minister Narendra Modi said that it will build a strong foundation of a developed India.&nbsp;"The first budget of ‘Amrit Kaal’ (after 75 years of Independence)&nbsp;will build a strong foundation for building a developed India. This budget will fulfil the dreams of aspirational society including poor people, middle-class people, farmers," PM Modi said.

He called the budget “growth-oriented"&nbsp;which will give fresh life to the development trajectory of India. He added that the budget has included schemes related to artisans for the first time.

ALSO READ | <a href="https://www.wionews.com/india-news/union-budget-2023-new-vs-old-tax-regime-which-one-is-better-557885">Union Budget 2023: New vs old tax regime; which one is better?</a>

“Those toiling traditionally through their hands for the country, the 'Vishvakarmas' are the creators of this country. For the first time, a scheme related to training and&nbsp;support for 'Vishvakarmas' has been brought in the budget,” the prime minister added. PM Modi further emphasised the steps taken to ensure the welfare of women in urban as well as rural areas.

“Government has taken several steps to make the lives of women, in rural &amp; urban areas, easy. Women's self-help groups will further enhance them. Special savings scheme will be started empowering women in households,” the prime minister stated.

Talking about the benefits included for the middle class and the revised tax regime introduced in the budget, PM Modi said, “Middle class is a big force to fulfil dreams of prosperous, developed India. Our government has taken several steps to empower the middle class and ensure ease of living. We have reduced tax rates and&nbsp;have given relief accordingly.”

WATCH | Union Budget 2023: World's eyes on India's budget

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The prime minister highlighted that the announcement of Rs 10 lakh crore investment in infrastructure will boost new energy and speed up development. “Unprecedented investment of Rs 10 lakh crore in infrastructure will give speed and new energy to development,” the prime minister said.

Talking about other aspects of the budget, he stated that digital payments’ success needs to be replicated in the sector of agriculture and hence, the government has introduced a scheme for laying down the digital infrastructure needed for it.

“Budget will make co-operatives pivot of development of the rural economy. The success of digital payments has to be replicated in the agriculture sector, in Union Budget we have brought a scheme for digital agriculture infrastructure,” the prime minister said.

“Budget 2023-24 will fulfil the dreams of aspirational society, farmers, and middle class. This budget is for a sustainable future further encouraging green energy, green growth, green infrastructure, and green jobs. We have focused on technology &amp; new economy in the budget,” he added.&nbsp;

(With inputs from agencies)

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Expressing his thoughts on India’s Union Budget 2023–24 after it was tabled by India’s Finance Minister Nirmala Sitharaman in the Parliament on Wednesday, Indian Prime Minister Narendra Modi said that it will build a strong foundation of a developed India.

Expressing his thoughts on India’s Union Budget 2023–24 after it was tabled by India’s Finance Minister Nirmala Sitharaman in the Parliament on Wednesday, Indian Prime Minister Narendra Modi said that it will build a strong foundation of a developed India. "The first budget of ‘Amrit Kaal’ (after 75 years of Independence) will build a strong foundation for building a developed India. This budget will fulfil the dreams of aspirational society including poor people, middle-class people, farmers," PM Modi said. He called the budget “growth-oriented" which will give fresh life to the development trajectory of India. He added that the budget has included schemes related to artisans for the first time. ALSO READ | Union Budget 2023: New vs old tax regime; which one is better? “Those toiling traditionally through their hands for the country, the 'Vishvakarmas' are the creators of this country. For the first time, a scheme related to training and support for 'Vishvakarmas' has been brought in the budget,” the prime minister added. PM Modi further emphasised the steps taken to ensure the welfare of women in urban as well as rural areas. “Government has taken several steps to make the lives of women, in rural & urban areas, easy. Women's self-help groups will further enhance them. Special savings scheme will be started empowering women in households,” the prime minister stated. Talking about the benefits included for the middle class and the revised tax regime introduced in the budget, PM Modi said, “Middle class is a big force to fulfil dreams of prosperous, developed India. Our government has taken several steps to empower the middle class and ensure ease of living. We have reduced tax rates and have given relief accordingly.” WATCH | Union Budget 2023: World's eyes on India's budget The prime minister highlighted that the announcement of Rs 10 lakh crore investment in infrastructure will boost new energy and speed up development. “Unprecedented investment of Rs 10 lakh crore in infrastructure will give speed and new energy to development,” the prime minister said. Talking about other aspects of the budget, he stated that digital payments’ success needs to be replicated in the sector of agriculture and hence, the government has introduced a scheme for laying down the digital infrastructure needed for it. “Budget will make co-operatives pivot of development of the rural economy. The success of digital payments has to be replicated in the agriculture sector, in Union Budget we have brought a scheme for digital agriculture infrastructure,” the prime minister said. “Budget 2023-24 will fulfil the dreams of aspirational society, farmers, and middle class. This budget is for a sustainable future further encouraging green energy, green growth, green infrastructure, and green jobs. We have focused on technology & new economy in the budget,” he added. (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE

Budget 2023: PM Modi says steps taken to empower middle class, ensure ease of living

Indian Finance Minister Nirmala Sitharaman presented the Union Budget 2023-24 on Wednesday (February 1) in Parliament, describing it as the first Budget in India's 'Amrit Kaal' ('Golden Era'). During her speech, she tabled the new policies that were included in the Budget and hailed the existing policies.&nbsp;

As she presented her fifth budget presentation, the Indian finance minister made a gaffe that left the Parliament giggling. When she was speaking about the importance of vehicle replacement, she said "old political vehicles" instead of "old polluting vehicles".&nbsp;

The Opposition shouted to point out the mistake, but few users on social media forums think that the replacement of both "old political vehicles" and "old polluting vehicles" are "related to the betterment of our country – India".&nbsp;

After a brief interruption by the opposition, she continued her speech with a smile on her face, saying: "Sorry, replacing old polluting vehicles."&nbsp;

Watch the video here:&nbsp;

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‘Old political vehicles…sorry, polluting’: FM's slip-of-tongue in Budget speech 
 
“Replacing the old political…sorry, I know…replacing old polluting vehicles…maybe applicable, right?… is an important part of greening our economy,” the FM <a href="https://twitter.com/nsitharaman?ref_src=twsrc%5Etfw">@nsitharaman</a> joked. <a href="https://twitter.com/hashtag/Budget2023?src=hash&amp;ref_src=twsrc%5Etfw">#Budget2023</a> <a href="https://t.co/KzYTUWgupS">pic.twitter.com/KzYTUWgupS</a>
— Subodh Kumar (@kumarsubodh_) <a href="https://twitter.com/kumarsubodh_/status/1620740763335397380?ref_src=twsrc%5Etfw">February 1, 2023</a></blockquote>
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Here are some Twitter reactions after her gaffe:&nbsp;&nbsp;

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"Eradicating old political, sorry, polluting vehicle", both are relevant for the good of the Bharath.<a href="https://twitter.com/hashtag/Budget2023?src=hash&amp;ref_src=twsrc%5Etfw">#Budget2023</a>
— Sath Sith சத் சித் (Satheesh) JaiHind🇮🇳 (@SatheeshK_KS) <a href="https://twitter.com/SatheeshK_KS/status/1620672781863251969?ref_src=twsrc%5Etfw">February 1, 2023</a></blockquote>
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While talking about a scheme related 2 scrapping of old vehicles, FM Sitharaman intended 2 say, "Replacing &amp; scrapping of old polluting vehicles", instead she said, "replacing &amp; scrapping of old political vehicles" 
 
Congress was d 1st to burst out in laughter !!😂<a href="https://twitter.com/hashtag/Budget2023?src=hash&amp;ref_src=twsrc%5Etfw">#Budget2023</a>
— कैप्टन Vyyom 💫 (@Rishhabh007) <a href="https://twitter.com/Rishhabh007/status/1620672453730250752?ref_src=twsrc%5Etfw">February 1, 2023</a></blockquote>
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While talking about a scheme related 2 scrapping of old vehicles, FM Sitharaman intended 2 say, "Replacing &amp; scrapping of old polluting vehicles", instead she said, "replacing &amp; scrapping of old political vehicles" 
 
Congress was d 1st to burst out in laughter !!😂<a href="https://twitter.com/hashtag/Budget2023?src=hash&amp;ref_src=twsrc%5Etfw">#Budget2023</a>
— कैप्टन Vyyom 💫 (@Rishhabh007) <a href="https://twitter.com/Rishhabh007/status/1620672453730250752?ref_src=twsrc%5Etfw">February 1, 2023</a></blockquote>
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The finance minister has said that she has allocated adequate funds to scrap old vehicles owned by the central government, and states will also be supported in replacing old vehicles and ambulances. She also mentioned that this step will emerge as a crucial part of greening the economy.&nbsp;

Sitharaman stated that coastal shipping will be promoted as the energy-efficient and lower-cost mode of transport, both for passengers and freight, through PPP mode with viability gap funding.&nbsp;

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Indian Finance Minister Nirmala Sitharaman presented the Union Budget 2023-24 on Wednesday (February 1) in Parliament, describing it as the first Budget in India's 'Amrit Kaal' ('Golden Era').

Indian Finance Minister Nirmala Sitharaman presented the Union Budget 2023-24 on Wednesday (February 1) in Parliament, describing it as the first Budget in India's 'Amrit Kaal' ('Golden Era'). During her speech, she tabled the new policies that were included in the Budget and hailed the existing policies. As she presented her fifth budget presentation, the Indian finance minister made a gaffe that left the Parliament giggling. When she was speaking about the importance of vehicle replacement, she said "old political vehicles" instead of "old polluting vehicles". The Opposition shouted to point out the mistake, but few users on social media forums think that the replacement of both "old political vehicles" and "old polluting vehicles" are "related to the betterment of our country – India". After a brief interruption by the opposition, she continued her speech with a smile on her face, saying: "Sorry, replacing old polluting vehicles." Watch the video here: ‘Old political vehicles…sorry, polluting’: FM's slip-of-tongue in Budget speech “Replacing the old political…sorry, I know…replacing old polluting vehicles…maybe applicable, right?… is an important part of greening our economy,” the FM @nsitharaman joked. #Budget2023 pic.twitter.com/KzYTUWgupS — Subodh Kumar (@kumarsubodh_) February 1, 2023 × Here are some Twitter reactions after her gaffe: "Eradicating old political, sorry, polluting vehicle", both are relevant for the good of the Bharath.#Budget2023 — Sath Sith சத் சித் (Satheesh) JaiHind🇮🇳 (@SatheeshK_KS) February 1, 2023 × While talking about a scheme related 2 scrapping of old vehicles, FM Sitharaman intended 2 say, "Replacing & scrapping of old polluting vehicles", instead she said, "replacing & scrapping of old political vehicles" Congress was d 1st to burst out in laughter !!😂#Budget2023 — कैप्टन Vyyom 💫 (@Rishhabh007) February 1, 2023 × While talking about a scheme related 2 scrapping of old vehicles, FM Sitharaman intended 2 say, "Replacing & scrapping of old polluting vehicles", instead she said, "replacing & scrapping of old political vehicles" Congress was d 1st to burst out in laughter !!😂#Budget2023 — कैप्टन Vyyom 💫 (@Rishhabh007) February 1, 2023 × The finance minister has said that she has allocated adequate funds to scrap old vehicles owned by the central government, and states will also be supported in replacing old vehicles and ambulances. She also mentioned that this step will emerge as a crucial part of greening the economy. Sitharaman stated that coastal shipping will be promoted as the energy-efficient and lower-cost mode of transport, both for passengers and freight, through PPP mode with viability gap funding. 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.

'Old political vehicles': Nirmala Sitharaman's slip-of-tongue during Budget speech will make you laugh - Watch

India's Minister of State for Finance Pankaj Chaudhary said Wednesday (February 1) that this year's budget will incorporate the expectations of every section of society. Chaudhary spoke to India-based news agency ANI ahead of the presentation of the Union Budget 2023-24 in Parliament. He said that the budget will stand on everyone's expectations.&nbsp;

As quoted by the news agency, Chaudhary said, "This is the budget incorporating the expectations of every section of society. Indian economy is on track due to the leadership of PM Modi and the supervision of Nirmala Sitharaman."&nbsp;

He also mentioned the report of the Economic Survey, he stated that the report also suggests many positives for the growth of the Indian economy.&nbsp;

WATCH |&nbsp;Union Budget 2023: India forecasts growth to slow to 6%-6.8% in 2023-24&nbsp;

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Indian finance minister Nirmala Sitharaman will present the budget for 2023 today and people across the nation have high hopes for this year's budget, with a focus on taxation, and prices of commodities.&nbsp;

Besides, Chaudhary, another MoS Finance Dr B Karad also spoke to reporters, stating that the country has made a good recovery from the economic slump coronavirus (COVID-19) pandemic.&nbsp;

He said that if we look at Economic Survey, all sectors are making progress as compared to other countries, Indian economy is looking good at this crucial juncture.&nbsp;

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<a href="https://twitter.com/hashtag/UnionBudget2023?src=hash&amp;ref_src=twsrc%5Etfw">#UnionBudget2023</a> | Country has made good recovery from COVID. If we look at Economic Survey, all sectors are making progress. Compared to other countries, our economy is good. When PM took oath in 2014, India was 10th (in terms of economy), today it is 5th: MoS Finance Dr B Karad <a href="https://t.co/e29YOVWzg1">pic.twitter.com/e29YOVWzg1</a>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1620619093685714944?ref_src=twsrc%5Etfw">February 1, 2023</a></blockquote>
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He said, "When PM took oath in 2014, India was 10th (in terms of economy), today it is 5th."&nbsp;

"Today, the Budget will be presented before the Parliament by FM at 11am. Before that, under her leadership, my colleague Pankaj Chaudhary and Secretary will meet the President at 9 am. At 10 am, under PM Modi`s leadership, a cabinet meeting will be held," the minister added.&nbsp;

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India's Minister of State for Finance Pankaj Chaudhary said Wednesday (February 1) that this year's budget will incorporate the expectations of every section of society.

India's Minister of State for Finance Pankaj Chaudhary said Wednesday (February 1) that this year's budget will incorporate the expectations of every section of society. Chaudhary spoke to India-based news agency ANI ahead of the presentation of the Union Budget 2023-24 in Parliament. He said that the budget will stand on everyone's expectations. As quoted by the news agency, Chaudhary said, "This is the budget incorporating the expectations of every section of society. Indian economy is on track due to the leadership of PM Modi and the supervision of Nirmala Sitharaman." He also mentioned the report of the Economic Survey, he stated that the report also suggests many positives for the growth of the Indian economy. WATCH | Union Budget 2023: India forecasts growth to slow to 6%-6.8% in 2023-24 × Indian finance minister Nirmala Sitharaman will present the budget for 2023 today and people across the nation have high hopes for this year's budget, with a focus on taxation, and prices of commodities. Besides, Chaudhary, another MoS Finance Dr B Karad also spoke to reporters, stating that the country has made a good recovery from the economic slump coronavirus (COVID-19) pandemic. He said that if we look at Economic Survey, all sectors are making progress as compared to other countries, Indian economy is looking good at this crucial juncture. #UnionBudget2023 | Country has made good recovery from COVID. If we look at Economic Survey, all sectors are making progress. Compared to other countries, our economy is good. When PM took oath in 2014, India was 10th (in terms of economy), today it is 5th: MoS Finance Dr B Karad pic.twitter.com/e29YOVWzg1 — ANI (@ANI) February 1, 2023 × He said, "When PM took oath in 2014, India was 10th (in terms of economy), today it is 5th." "Today, the Budget will be presented before the Parliament by FM at 11am. Before that, under her leadership, my colleague Pankaj Chaudhary and Secretary will meet the President at 9 am. At 10 am, under PM Modi`s leadership, a cabinet meeting will be held," the minister 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: MoS finance says Budget 2023 will incorporate every section's expectations

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>

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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;

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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

The ruling Bharatiya Janata Party (BJP) in India will launch a 12-day nationwide campaign from Wednesday (February 1) to highlight the benefits of the Union Budget 2023. Speaking to the news agency ANI, a BJP source said, "BJP will hold `Countrywide discussion on the budget`, from February 1 to February 12, and run a nationwide campaign to spread awareness on measures that will be announced in the Union budget 2023-24 on Wednesday. National President JP Nadda has constituted a nine-member committee for same."

BJP's Rajya Sabha MP and former deputy chief minister of Bihar Sushil Modi has been made the committee's convener, the source said.&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 follow all LIVE updates on the Union Budget 2023</a>

The source also told the news agency that on February 4 and 5, central government ministers, national officials and economic experts "will hold conferences on the budget at 50 important centres including the capitals of various states of the country."

For the next two weeks, chief ministers of BJP-ruled states, party state unit presidents, MPs, ministers and MLAs will hold conferences and public meetings across India and discuss the budget and its benefit with the common people. The ANI report also said that the conferences will be held in all districts and the main issues of the budget will be conveyed to the public up to the block level.&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/business-economy/india-mos-finance-says-budget-2023-will-incorporate-every-sections-expectations-557730">India: MoS finance says Budget 2023 will incorporate every section's expectations</a>

Union Finance Minister Nirmala Sitharaman tabled the Union Budget in Lok Sabha, Parliament on Wednesday.&nbsp;

Ahead of presenting the budget, Prime Minister Narendra Modi chaired a Union Cabinet meeting. This is the&nbsp;fifth budget presented by finance minister Sitharaman. Speaking to ANI, Minister of State for Finance&nbsp;Pankaj Chaudhary said, "Union Budget 2023 will meet the expectations of every section of society. Modi govt has always worked in the favour of the people of the country."

(With inputs from agencies)

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The ruling Bharatiya Janata Party (BJP) in India will launch a 12-day nationwide campaign from Wednesday (February 1) to highlight the benefits of the Union Budget 2023.

The ruling Bharatiya Janata Party (BJP) in India will launch a 12-day nationwide campaign from Wednesday (February 1) to highlight the benefits of the Union Budget 2023. Speaking to the news agency ANI, a BJP source said, "BJP will hold `Countrywide discussion on the budget`, from February 1 to February 12, and run a nationwide campaign to spread awareness on measures that will be announced in the Union budget 2023-24 on Wednesday. National President JP Nadda has constituted a nine-member committee for same." BJP's Rajya Sabha MP and former deputy chief minister of Bihar Sushil Modi has been made the committee's convener, the source said. Click here to follow all LIVE updates on the Union Budget 2023 The source also told the news agency that on February 4 and 5, central government ministers, national officials and economic experts "will hold conferences on the budget at 50 important centres including the capitals of various states of the country." For the next two weeks, chief ministers of BJP-ruled states, party state unit presidents, MPs, ministers and MLAs will hold conferences and public meetings across India and discuss the budget and its benefit with the common people. The ANI report also said that the conferences will be held in all districts and the main issues of the budget will be conveyed to the public up to the block level. ALSO READ | India: MoS finance says Budget 2023 will incorporate every section's expectations Union Finance Minister Nirmala Sitharaman tabled the Union Budget in Lok Sabha, Parliament on Wednesday. Ahead of presenting the budget, Prime Minister Narendra Modi chaired a Union Cabinet meeting. This is the fifth budget presented by finance minister Sitharaman. Speaking to ANI, Minister of State for Finance Pankaj Chaudhary said, "Union Budget 2023 will meet the expectations of every section of society. Modi govt has always worked in the favour of the people of the country." (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.

India: BJP to launch nationwide campaign to highlight benefits of Union Budget

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;

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Personal Income Tax from the Budget speech of Finance Minister Nirmala Sitharaman. 
 
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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;

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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

Indian Finance Minister Nirmala Sitharaman presented the Union Budget 2023-24 in Parliament on Wednesday (February 1), with a focus on the inclusive development of all sectors and sections of people.

Indian Finance Minister Nirmala Sitharaman presented the Union Budget 2023-24 in Parliament on Wednesday (February 1), with a focus on the inclusive development of all sectors and sections of people. During her speech, Sitharaman announced a 'Mahila Samman Saving Certificate' with a fixed interest rate for two years. She said that the deposit can be made in the name of a woman or a girl child. The finance minister announced that this new saving initiative can be availed for a deposit amount with a partial withdrawal option. Sitharaman announced, "One-time new small saving under 'Mahila Samman Saving Patra'. The deposit facility for the women and girls will be for a period of two years with a rate of interest of 7.5 per cent." What is Mahila Samman Saving Certificate? Here's all you need to know about the interest rate, tenure, and limit for the amount to deposit: 1) The Mahila Samman Bachat Patra is a one-time new small savings scheme. 2) It will be made available for a two-year period up to March 2025. 3) This will offer a deposit facility of up to Rs 2 lakh in the name of women or girls for a tenor of two years. 4) The scheme can be availed at a fixed interest rate of 7.5 per cent with a partial withdrawal option. WATCH | Exclusive | Union Budget 2023: Sunil Kant Munjal, Chairman of Hero Enterprise speaks to WION × The finance minister also announced that 81 lakh self-help groups have been created by mobilising rural women for the economic empowerment of women under the Deendayal Antyodaya Yojana National Rural Livelihood Mission. She said that the government aims at enabling these groups to reach the next stage of economic empowerment through the formation of large producer enterprises or collectives with each having several thousand members. The finance minister said that financial assistance of more than Rs 2.25 lakh crore has been provided to small farmers under PM-Kisan Samman Nidhi. She stated that with this initiative, about three crore women farmers have been provided with Rs 54,000 crore. 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.

Mahila Samman Saving Certificate: India encourages women to increase savings. Know everything about it

India Union Budget 2023-24 included several benefits for the farmers and promote inclusive development. While presenting the annual budget, Finance Minister Nirmala Sitharaman this is the first Budget in 'Amrit Kaal' ('Golden Era') and said that the economy is on the right track with the government's focus on wide-ranging policies.

India Union Budget 2023-24 included several benefits for the farmers and promote inclusive development. While presenting the annual budget, Finance Minister Nirmala Sitharaman this is the first Budget in 'Amrit Kaal' ('Golden Era') and said that the economy is on the right track with the government's focus on wide-ranging policies. Sitharaman said that over the next three years, ten million farmers will get assistance to adopt natural farming. She added that 10,000 bio-input resource centres will be set up. She also announced that Agriculture Accelerator Fund (AAF) will also be set up to encourage agriculture startups by young entrepreneurs. It will help to encourage agri-startups in rural areas. She said that the government will also provide a digital public infrastructure for agriculture, which will be built to enable inclusive and farmer-centric solutions. The government has also proposed an 11 per cent in the agriculture credit target to Rs 20 lakh crore, with a focus on animal husbandry, dairy and fisheries. She said that the move is aimed at providing higher farm loans at subsidised rates to the farming community. Pradhan Mantri Matsya Sampada Yojana The finance minister also announced that the government will launch a new sub-scheme of Pradhan Mantri Matsya Sampada Yojana with an investment of Rs 6,000 crore. She said that it will improve value chain efficiencies and expand the fishery market. She further added that the customs duty on key inputs for domestic manufacturing of shrimp feed will also be reduced to promote the export of marine products. भारत कई तरह के ‘श्री अन्न’ के उत्पादन में शीर्ष पर है। इनमें ज्वार, रागी, बाजरा, कुट्टू, कंगनी, कुटकी, कोदो, चीना आदि शामिल हैं। यह सभी हमारे स्वास्थ्य के लिए लाभदायक होते हैं।#Budget2023 #UnionBudget2023 pic.twitter.com/bHH0ljp7U0 — Agriculture INDIA (@AgriGoI) February 1, 2023 × प्राकृतिक खेती को बढ़ावा देने के लिए भारत सरकार एक करोड़ किसानों को प्रोत्साहित करेगी। प्राकृतिक खेती के लिए सूक्ष्म उर्वरक (माइक्रो फर्टिलाइजर) पर जोर दिया जाएगा।#budget2023 #unionbudget2023 pic.twitter.com/PWDdxGRJ8r — Agriculture INDIA (@AgriGoI) February 1, 2023 × ग्रामीण क्षेत्रों में युवा उद्यमियों द्वारा कृषि स्टार्टअप को प्रोत्साहित करने के लिए “एग्री एक्सीलेटर” फंड स्थापित किया जाएगा। इस फंड की मदद से एग्री टेक-इंडस्ट्री को भी बढ़ावा देने में मदद मिलेगी।#Budget2023 pic.twitter.com/4BfkOkQhih — Agriculture INDIA (@AgriGoI) February 1, 2023 × Promotion to adopt natural farming The finance minister said that this year's budget will facilitate one crore farmers for this purpose and will also set up 10,000 Bio-Input Resource Centres for creating a national-level distributed micro-fertilizer and pesticide manufacturing network. She said that through the Pradhan Mantri Programme for Restoration, Awareness, Nourishment and Amelioration of Mother Earth (PM-PRANAM), the government will incentivise state governments and Union Territories to promote alternative fertilizers and balanced use of chemical fertilizers. × Millets - "Shree Anna" She said the government will make India a global hub for millets, also called "Shree Anna". She said that to facilitate it, the government has pm,e up with a Hyderabad-based Indian Institute of Millet Research, which will be supported as the Centre of Excellence for sharing best practices, research and technologies at the international level. For the unversed, the Food and Agriculture Organization of the United Nations (FAO) has declared 2023 as the International Year of Millets. Notably, India is the largest producer and second largest exporter of millets in the world. The country grows several types of millet such as jowar, ragi, bajra, kuttu, ramdana, kangni, kutki, kodo, cheena, and sama. She reiterated that these crops have multiple health benefits and have been an integral part of our food for centuries. She said, "I acknowledge with pride the huge service done by small farmers in contributing to the health of fellow citizens by growing these 'Shree Anna'". 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.

Budget 2023-24: India aims to promote agri-startups; raises farm credit target. Read details

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;

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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 

Former NITI Aayog Vice-Chairman and Professor of Economics at Columbia University Arvind Panagariya unpacks the expectations from Budget 2023, and takes stock of the state of the Indian economy.

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