She said that during the Covid-19 pandemic, Government ensured that no one goes to bed hungry, with a scheme to supply free food grains to over 80 Crore persons for 28 months. The Finance Minister said that India’s rising global profile is due to several accomplishments like unique World Class Digital Public Infrastructure namely, Aadhaar, Co-Win and UPI COVID-19 vaccination drive in unparalleled scale and speed proactive role in frontier areas such as achieving the climate related goals, mission LiFE, and National Hydrogen Mission. Sitharaman said that this Budget hopes to build on the foundation laid in the previous Budget, and the blueprint drawn for which envisions a prosperous and inclusive India, where the fruits of development reach all regions and citizens, especially our youth, women, farmers, OBCs, Scheduled Castes and Scheduled Tribes. She emphasized that Indian economy is on the right track, and despite a time of challenges, heading towards a bright future. Nirmala Sitharaman, while presenting the Union Budget 2023-24 in Parliament today. This was stated by Union Minister for Finance & Corporate Affairs Smt. In the 75th year of India’s Independence, the World has recognized the Indian Economy as a ‘bright star’ as the Economic Growth is estimated at 7 per cent, which is the highest among all major economies, in spite of the massive global slowdown caused by COVID-19 and Russia-Ukraine War. 2.40 LAKH CRORE PROVIDED FOR RAILWAYS URBAN INFRASTRUCTURE DEVELOPMENT FUND (UIDF) TO BE ESTABLISHED THROUGH USE OF PRIORITY SECTOR LENDING SHORTFALL 500 NEW ‘WASTE TO WEALTH’ PLANTS UNDER GOBARDHAN SCHEME TO BE ESTABLISHED AT TOTAL INVESTMENT OF Rs 10,000 CRORE 10,000 BIO-INPUT RESOURCE CENTRES TO BE SET-UP, CREATING NATIONAL-LEVEL DISTRIBUTED MICRO-FERTILIZER AND PESTICIDE MANUFACTURING NETWORK MANTRI KAUSHAL VIKAS YOJANA 4.0 TO BE LAUNCHED UNION BUDGET 2023-24 PROVIDES SUBSTANTIAL RELIEF FOR PERSONAL INCOME TAX NEW SLABS ANNOUNCED UNDER THE NEW TAX REGIME RESIDENT INDIVIDUAL WITH TOTAL INCOME UPTO ₹ 7 LAKH WILL NOT HAVE TO PAY ANY INCOME TAX UNDER NEW TAX REGIME STANDARD DEDUCTION OF ₹ 50,000 WILL ALSO BE AVAILABLE TO SALARIED INDIVIDUALS UNDER THE NEW TAX REGIME NEW TAX REGIME FOR INDIVIDUAL AND HUF WILL BE THE DEFAULT REGIME LIMIT FOR TAX EXEMPTION ON LEAVE ENCASHMENT ON RETIREMENT OF NON-GOVERNMENT SALARIED EMPLOYEES INCREASED TO ₹ 25 LAKH SLEW OF PROPOSALS ANNOUNCED FOR THE COOPERATIVE SECTOR INDIRECT TAX PROPOSALS AIM TO PROMOTE EXPORTS, BOOST DOMESTIC MANUFACTURING, ENHANCE DOMESTIC VALUE ADDITION, ENCOURAGE GREEN ENERGY AND MOBILITY NUMBER OF BASIC CUSTOMS DUTY RATES ON GOODS, OTHER THAN TEXTILES AND AGRICULTURE, REDUCED FROM 21 TO 13 79,000 CRORE HIGHEST EVER CAPITAL OUTLAY OF Rs. 10 LAKH CRORE EFFECTIVE CAPITAL EXPENDITURE AT 4.5% OF GDP FISCAL DEFICIT ESTIMATED TO BE 5.9 % OF GDP IN BE 2023-24 REAL GDP TO GROW AT 7% IN FY2022-23 EXPORTS TO GROW AT 12.5% IN FY 2023 ATMANIRBHAR CLEAN PLANT PROGRAM WITH OUTLAY OF ₹2200 CRORE TO BE LAUNCHED TO BOOST AVAILABILITY OF QUALITY PLANTING MATERIAL FOR HIGH VALUE HORTICULTURAL CROPS 157 NEW NURSING COLLEGES TO BE ESTABLISHED OUTLAY FOR PM AWAS YOJANA ENHANCED BY 66% TO OVER RS. UNION BUDGET 2023-24 PRESENTS VISION FOR AMRIT KAAL-BLUE PRINT FOR AN EMPOWERD AND INCLUSIVE ECONOMY THREE PRONGED FOCUS DRIVEN BY FOUR TRANSFORMATIVE OPPORTUNITIES CONSTITUTE FOUNDATION OF AMRIT KAAL CAPITAL INVESTMENT OUTLAY INCREASED BY 33% TO Rs.
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