Union Budget 2023 Highlights: Sitharaman says Budget to boost women development, youth and green growth is 'beautifully balanced'

We want to make the new tax regime attractive enough for people (with better rates etc) to move from the old regime: FM Sitharaman

. The country is waiting for direct taxation to be simpler and easier in compliance. Trying to get people to move unhesitatingly from the old tax regime to the new one. With all this, I think the Budget is beautifully balanced. Capital investment has never seen double digit investment announcements: FM Sitharaman

. This year's Budget is aimed at empowering women and the youth, with main focus on the middle class and infrastructure. There is a big boost to tourism and connectivity. We have also boosted agriculture and agricultural technology: FM Nirmala Sitharaman

. "Those toiling traditionally through their hands for the country, 'Vishvakarma' are the creators of this country. For the first time scheme related to training & support for 'Vishvakarma' has been brought in the budget," saidPM Narendra Modi on Union Budget

. "The middle class is India's power," saidPM Modi on the new tax reforms announced in the Union Budget.

. Presenting her fifth annual Budget, Finance Minister Nirmala Sitharaman on Wednesday said that the government is adopting seven priorities to guide India through the Amrit Kaal.

. Finance Minister Nirmala Sitharaman on Wednesday announced major changes to the personal income tax structure in the country.

. The new regime is the default tax regime, says FM Nirmala Sitharaman

. Rs 3L-6L- 5%

Rs 6L- Rs 9L - 10%

Rs 9L-Rs 12L- 15%

Rs 15L+ - 30%

A benefit of Rs 52,000 for those earning above Rs 15.5 lakh.

. Currently those earning under Rs 5 lakh do not pay any tax. I propose to increase the rebate to Rs 7 lakh: FM Nirmala Sitharaman

. FM Sitharaman announces a low tax rate of 15 per cent for new co-ops.

. Revised fiscal deficit target for FY24 is 5.9 per cent of GDP, fiscal deficit for FY23 retained at 6.4 per cent. Fiscal deficit will be below 4.5 per cent of GDP by 2025: Nirmala Sitharaman

. Revised fiscal deficit target for FY24 is 5.9 per cent of GDP: Nirmala Sitharaman

. The maximum deposit limit for senior citizens hiked from Rs 15 lakh to Rs 30 lakh: FM Sitharaman

. For business establishments required to have Permanent Account Number, the PAN will be used as a common identifier for all Digital Systems of specified government agencies: FM Nirmala Sitharaman

. Rs 9,000 cr more in credit guarentee scheme for MSMEs, a comprehensive review of regulations: FM

. For 'Amrit Peedhi', we developed the National Education Policy. The government aims to skill lakhs of youths over the next three years. New age courses on AI and technology will be brought. 30 skilling centres to be set up. Stipend support will be given to 47 lakh youths: FM

. The government announced a Rs 20,700 cr outlay for renewable energy plan in Ladakh: FM Sitharaman

. Rs 10,000 cr for Govardhan scheme; FM Sitharaman announces PM Pranam Yojana for environment goals of the Centre.

. Rs 35,000 crore investment for the government's net zero objectives: FM Sitharaman

. To further India's goal of zero carbon emissions by 2070, the government's outlay is Rs 19,700 crore for National Hydrogen Mission: FM

. The FM has announced the setting up of 100 labs for developing 5G service applications in India.

. The government will bring in a National Data Governance policy soon: FM

. More relief to MSMEs through Vivad se Vishwas Act. This will help settle contractual disputes: FM Nirmala Sitharaman

. 50-year interest free loan to state governments extended for one more year: FM Sitharaman

. Rs 75,000 cr for 100 critical transport infrastructure projects: FM announces during Budget presentation

. 50 additional airports, heliports, water aerodromes, and advanced landing zones will be revitalised. 100 critical transport infra projects for steel, ports, fertiliser, coal, food grain sectors have been identified with an investment of Rs 75,000 crore including Rs 15,000 crore from private sources.

. Capital outlay of Rs 2.4 lakh crore for Railways in FY24. This is a 9x increase over FY14, highest ever for Railways: Nirmala Sitharaman

. Capital investment outlay to be 3.3% of GDP in FY24 at Rs 10lakh crore, 3 times more than that in 2019: FM

. PM AWAS Yojana outlay is being increased 66% to Rs 79,000 cr: Nirmala Sitharaman

. The agricultural credit target will be increased to Rs 20 lakh crores with a focus on animal husbandry, dairy and fisheries: FM Sitharaman

. The Indian economy has become more formalised as witnessed by a significant enhancement in digital payments: FM Nirmala Sitharaman

. Markets upbeat as Sitharaman presents the way ahead for FY24; Sensex up over 600 points.

Track live updates on DH

. India is at the forefront of popularising millets. Our government aims to make India a global hub for millets: FM Nirmala Sitharaman

. Finance Minister Nirmala Sitharaman said the government, in a bid to increase digital infrastructure in the rural areas and boost rural startups, will set up an accelerator fund for agri startups.

. Promotion of tourism will be taken up on mission mode: Sitharaman

. The FM said these are the priorities of the government's FY23 Budget;

1- Inclusive development

2- Reaching the last mile

3- Infra and investment

4- Unleashing the potential

5- Green growth

6- Youth power

7- Financial sector

. Under our government, per capita income doubled to Rs 1.97 lakh: FM Nirmala Sitharaman

. During the Covid-19 pandemic, we ensured that nobody goes to bed hungry with a scheme to supply free foodgrains to over 80 crore persons for 28 months: FM Nirmala Sitharaman

. Our government has achieved Covid vaccination of 102 crore people, 48 crore PM Jan Dhan acocunts, insurance cover for 46 crore persons, cash transfer of Rs 11.4 crore farmers under PM Kisan: FM Nirmala Sitharaman

. 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: Nirmala Sitharaman

. The Indian economy is on the right track despite the time of challenges presented by Covid-19, heading towards a bright future: FM Nirmala Sitharaman in Parliament, while presenting Union Budget.

. Follow DH's Markets Live to find out reactions from Dalal Street.

. Budget 2023-24 would be in paperless form, as done in the last two years, and would be available on the 'Union Budget Mobile App' for hassle-free access by Members of Parliament (MPs) and the general public.

Read here the key numbers to watch for in Budget 2023-24, which is widely expected to boost spending towards policies that create jobs, leave more money in hands of the common man and boost manufacturing, while increasing tax revenues.

. FM Sitharaman's Union Budget 2023-24 is her fifth straight since 2019. Other finance ministers who have presented five times are Arun Jaitley, P Chidambaram, Yashwant Sinha, Manmohan Singh and Morarji Desai.

. In her maiden budget presentation in July 2019, Nirmala Sitharaman ended the century-old tradition of carrying budget documents in a leather briefcase. She carried the budget documents wrapped in a red silk bag with the national emblem embossed on it. It has been appreciated as a significant move to get rid of the colonial tradition.

. Finance Minister Nirmala Sitharaman reached the Parliament for a Union Cabinet meeting at 10 am. After this, she will present the Budget in the Lower House.

. Track live updates from market here ahead of FM Sitharaman's Budget Speech

. Finance Minister Nirmala Sitharaman arrived at the Ministry of Finance in Delhi ahead of the Union Budget session today.

. "The 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," saidMoS Finance Pankaj Chaudhary ahead of the Budget Session today.

. Private capex soon needs to take up the leadership role to put job creation on a fast track, the Economic Survey 2022-23 noted. Read more

. The additional expenditure needs of the government due to higher outflow on food, fertiliser and petroleum subsidies will be compensated by more-than-anticipated revenue collections and thus help the country stay on course to meet its budgeted 6.4 per centfiscaldeficittargetfor the current financial year, theEconomicSurvey2022-23 released on Tuesday showed. Read more

. India’s budget on Wednesday will test the government’s resolve to stay fiscally prudent as expectations of lower taxes, wider social security net and further boost to production gather steam before national elections. Read more

. To help you make more sense of the upcoming Budget announcements, here is an easy explanation of the financial jargon.

. While Finance Minister Nirmala Sitharaman must be under pressure to boost allocation for social welfare and introduce new programmes and schemes targeted to woo voters ahead of several state assembly elections this year and the crucial Lok Sabha elections in 2024.

. India will unveil its budget Wednesday, testing Prime Minister Narendra Modi’s fiscal mettle seen as key to boosting investor sentiment even as it will likely leave less room for handouts a year before he seeks a third term.

. Finance Minister Nirmala Sitharaman will have to do a tight-rope walk between staying fiscally prudent and general public expectations of lower taxes and a wider social security net, while at the same time firing the engines of the economy before general elections.

. Finance Minister Nirmala Sitharaman has broken through the glass ceiling to be in the driving seat of the world’s fifth-largest economy. Within just around a decade of joining the politics, she trumped several stalwarts to find a place in the top four of the union cabinet – first as defence minister and subsequently as finance minister.

Union Budget 2023 Highlights: Sitharaman says Budget to boost women development, youth and green growth is 'beautifully balanced'

FM Nirmala Sitharaman briefs the media after Budget

The middle class is India's power, says PM Modi

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