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Budget 2023: Here's a list of key announcements made by finance minister Nirmala Sitharaman

Published on Feb 01, 2023 04:33 PM IST

Union Budget 2023-24: From tax relief to capex thrust, here's what FM Sitharaman proposed for the fiscal year 2023-24 starting April 1, 2023.

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Union Finance Minister Nirmala Sitharaman on Wednesday presented the Union Budget 2023-24 in Parliament. In her speech, she announced that the government proposes to increase capital expenditure outlay by 33 per cent to <span class='webrupee'>₹</span>10 lakh crore in 2023-24, which would be 3.3 per cent of the GDP. (ANI)

Published on Feb 01, 2023 04:33 PM IST

Union Finance Minister Nirmala Sitharaman on Wednesday presented the Union Budget 2023-24 in Parliament. In her speech, she announced that the government proposes to increase capital expenditure outlay by 33 per cent to ₹10 lakh crore in 2023-24, which would be 3.3 per cent of the GDP. (ANI)

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"(This overall outlay) would be 3.3 per cent of GDP, almost three times the outlay made in 2019-20. With the substantial increase, it is central to the government's efforts to enhance growth potential and job creation, the crowd in private investments and provides a cushion against global headwinds," Sitharaman said in her Budget speech. (ANI)

Published on Feb 01, 2023 04:33 PM IST

"(This overall outlay) would be 3.3 per cent of GDP, almost three times the outlay made in 2019-20. With the substantial increase, it is central to the government's efforts to enhance growth potential and job creation, the crowd in private investments and provides a cushion against global headwinds," Sitharaman said in her Budget speech. (ANI)

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For the agriculture sector, the government has proposed to increase the credit target to <span class='webrupee'>₹</span>20 lakh crore with a focus on animal husbandry, dairy and fisheries. (ANI)

Published on Feb 01, 2023 04:33 PM IST

For the agriculture sector, the government has proposed to increase the credit target to ₹20 lakh crore with a focus on animal husbandry, dairy and fisheries. (ANI)

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Finance minister Nirmala Sitharaman announced an increase in the income tax rebate limit from <span class='webrupee'>₹</span>5 lakh to <span class='webrupee'>₹</span>7 lakh stating that the new tax regime will now be the default tax regime. (REUTERS)

Published on Feb 01, 2023 04:33 PM IST

Finance minister Nirmala Sitharaman announced an increase in the income tax rebate limit from ₹5 lakh to ₹7 lakh stating that the new tax regime will now be the default tax regime. (REUTERS)

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The finance minister also proposed to change the tax structure in this regime by reducing the number of tax slabs to 5 and increasing the tax exemption limit to <span class='webrupee'>₹</span>3 lakh. (ANI)

Published on Feb 01, 2023 04:33 PM IST

The finance minister also proposed to change the tax structure in this regime by reducing the number of tax slabs to 5 and increasing the tax exemption limit to ₹3 lakh. (ANI)

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There will be a cut in customs duty on the import of certain inputs for mobile phone manufacturing.  (ANI)

Published on Feb 01, 2023 04:33 PM IST

There will be a cut in customs duty on the import of certain inputs for mobile phone manufacturing. (ANI)

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Nirmala Sitharaman promoses 2.4 trillion rupees capital outlay for railways in 2023-24.(ANI)

Published on Feb 01, 2023 04:33 PM IST

Nirmala Sitharaman promoses 2.4 trillion rupees capital outlay for railways in 2023-24.(ANI)

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Government allocates over 2 percent of GDP to health.(ANI)

Published on Feb 01, 2023 04:33 PM IST

Government allocates over 2 percent of GDP to health.(ANI)

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