Union Budget Playbook: Everything you need to know about Nirmala Sitharaman's election Budget

The highly anticipated Union Budget, fifth by Finance Minister Nirmala Sitharaman, and Modi 2.0 government's last full one before general elections in 2024, is out! Here is a compendium of all important announcements from the annual financial statement.

FM Sitharaman kicked off her speech by looking back at the troubled times of Covid

The government ensured that no one went hungry during the pandemic by providing free foodgrains to 80 crore poor people, Finance Minister Nirmala Sitharaman said.

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FM Sitharaman lists the 'saptarishi' of Union Budget 2023

Finance Minister Sitharaman outlined the seven priorities of this year's Union Budget. "These priorities complement each other and act as the 'saptarishi' guiding us through the Amrit Kaal," the finance minister said.

These priorities comprise "inclusive development, reaching the last mile, infrastructure and investment, unleashing the potential, green growth, youth power, and financial sector."

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Union Budget 2023: Major shakeup in Income Tax slabs, new tax regime is default

The biggest announcement of the day was on the direct taxes front. Finance minister Nirmala Sitharaman announced no tax for those with annual income of up to Rs 7 lakh under the new tax regime but made no changes for those who continue in the old regime that provides for tax exemptions and deductions on investments and expenses such as HRA.

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Capex hiked by 33% to Rs 10 lakh crore in big infra boost ahead of 2024 elections

Presenting the Budget for 2023-24, FM Nirmala Sitharaman said the newly established infrastructure finance secretariat will assist in attracting more private investment.

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Highest-ever outlay for Railways at Rs 2.4 lakh crore

The capital outlay for the railways has been increased to the highest-ever Rs 2.40 lakh crore in the Union Budget for 2023-24, Finance Minister Nirmala Sitharaman said on Wednesday.

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Poll-bound Karnataka gets Rs 5,300 crore assistance in Budget 2023

Sitharaman announced Rs 5,300 crore assistance for Upper Bhadra project in poll-bound Karnataka. "In the drought-prone central regions of Karnataka, a central assistance of Rs 5,300 crore will be given for the Upper Bhadra Project."

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Govt raises farm credit target by 11% to Rs 20 lakh crore for FY24

The government on Wednesday announced 11 per cent hike in agriculture credit target to Rs 20 lakh crore for next fiscal year with focus on animal husbandry, dairy and fisheries. The agricultural credit target is Rs 18 lakh crore for the current 2022-23 fiscal.

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'GOBARdhan' to 'Saptarishi': Unique terms used by FM in her Budget speech

Who needs rhymes and frills, when you have interesting terminology - and no, we are not talking about Budget jargon.

Read a list of unique terms that this year's Budget referenced.

Govt to launch revamped credit guarantee scheme worth Rs 9,000 cr for MSMEs: FM

Further, the government will set up National Financial Information Registry for facilitating the efficient flow of credit and fostering financial stability. Sitharaman also informed that financial sector regulators will be asked to carry out a comprehensive review of existing regulations.

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FM Sitharaman announces new savings scheme for women with 7.5% fixed interest rate for 2 years

The deposit can be made in the name of a woman or a girl child. The maximum deposit amount has been kept at Rs 2 lakh and the scheme will have a partial withdrawal facility as well.

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OPINION | Budget 2023 gives a virtual cold shoulder to cryptocurrencies

One hopes for healthy policy discussions on the newer types of assets that emerging technologies are bringing on. It needs to be devoid of moral hazarding, as well as asset-shaming.

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Government doubles deposit limit for Senior Citizen Savings Scheme to Rs 30 lakh

FM Nirmala Sitharaman also proposed that the maximum deposit limit for Monthly Income Account Scheme will be enhanced from Rs 4.5 lakh to Rs 9 lakh for a single account and from Rs 9 lakh to Rs 15 lakh for a joint account.

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FM provides Rs 35,000 crore outlay to achieve energy transition, net zero objectives in Budget

For energy transition, she told the House that this budget provides for Rs 35,000 crore for priority capital investment towards energy transition and net zero objectives and an energy security by ministry of petroleum and natural gas.

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Budget Trivia: Nirmala Sitharaman dons Karnataka's Ilkal saree with kasuti design

Finance Minister Nirmala Sitharaman wore the famous Ilkal saree with intricate kasuti threadwork while presenting the Union Budget 2023-24. The saree was designed in Dharwad. Kasuti is a traditional embroidery unique to Navalagund in Dharwad.

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Your next international trip will be costlier. Here's why

The Finance Bill, through the Budget 2023-24, amended Section 206C of the Income Tax Act levying a higher Tax Collected at Source (TCS) on overseas tour programme packages.

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National Digital Library for children, adolescents to be set up, says Sitharaman

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, Union Finance Minister Nirmala Sitharaman announced Wednesday.

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Budget 2023: KYC norms to be simpler, PAN to be common identifier

For investors to reclaim unclaimed shares and unpaid dividends from the Investor Education and Protection Fund Authority with ease, an integrated IT portal is proposed to be established, Finance Minister Nirmala Sitharaman announced in Union Budget 2023-24.

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Customs duty on import of certain inputs for mobile phone manufacturing to be cut: FM

Finance Minister Nirmala Sitharaman's announcement comes at a time when India has aggressively positioned itself as an electronics powerhouse to the world, as global players look for a China plus 1 strategy.

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Allocated adequate funds to scrap old vehicles owned by central govt: FM

In line with government's push for green energy, Finance Minister Nirmala Sitharaman said that she has allocated adequate funds to scrap old vehicles owned by central government, and states will also be supported in replacing old vehicles and ambulances.

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'Amrit Kaal' Budget burns hole in smokers' pockets

In her Budget speech, the finance minister announced a hike in taxes on cigarettes by 16 per cent.