Indian Finance Minister Nirmala Sitharaman is all set to present the Union Budget 2023-2024 in parliament at 11 O’clock. It is going to be her fifth budget since 2019 where she expects to set the foundation to shoot Indian economic growth up to 6 to 6.8 percent.
The Union Budget 2023 has 7 priorities that are said to act as a Saptrishi in the Amritkaal which are as follows:
- Inclusive Development
- Achieving Last Mile
- Infrastructure and Investment
- Unleashing Potential
- Green Growth
- Youth Power
- Financial Growth
Amrit Kaal has been mentioned by our finance minister multiple times referring to the critical time to achieve ultimate human potential. According to Vedic astrology, it is also the time when the gate for greater pleasure is opened for all. It is also the best and the most auspicious time to start a new task.
Mission Karmyogi is there to provide government employees the opportunities to become better than yesterday.
Govt. will set up 3 centers for excellence for artificial intelligence to aid areas like agriculture.
KYC process shall be simplified for every nature of work and need for digital India.
One-stop solution for updating and maintaining the identity of Indian citizens using DigiLocker and Aadhaar Services.
PAN shall be used as the common business identifier for all govt. works facilitated through govt. mandate. Common portal for identity confirmation.
The fintech industry shall get additional attention for better allocation of scarce resources.
Launch of National Green Hydrogen Mission: reduce the dependence on fossil fuel.
Integrated IT portal shall be established.
Better things for women are coming: saving schemes and more.
Saving schemes shall see increased deposit limits.
Govt. shall offer 50 years interest free loan to the states which shall be spend on captial enhancement.
Enhance domestic areas of the country.
Multiple exemptions on GST and Basic Custom Duties: crude oil, marine products, household items and more.
Lab grown diamonds shall be in trend.
Cigerattes will become expensive.
Multiple benefits are coming for the people working in the agricultural sectors.
Start-Ups established 10 years back are looking at some rule changes in the coming financial year.
Increased rebate limit to 7 lakh on personal income tax.
Multiple changes in the income tax on personal incomes, salaries and pensions.