Congress slammed the government and asked whether the Capex hike will be met through cuts in the allocation for the MGNREGS.
12:25 pm: FM Nirmala Sitharaman announced a new tax structure under the new tax regime.
The new tax rates are:
- 0 to Rs 3 lakhs – nil
- Rs 3 to 6 lakhs – 5%
- Rs 6 to 9 Lakhs – 10%
- Rs 9 to 12 Lakhs – 15%
- Rs 12 to 15 Lakhs – 20% and
- Above 15 Lakhs – 30%
12:10 pm: Nirmala Sitharaman said the maximum deposit limit for Senior Citizen saving scheme will be increased from Rs 15 to 30 lakh.
12:05 pm: FM Nirmala Sitharaman, during her Budget 2023 speech, said the Centre will set up the Govardhan Scheme to promote a circular economy with a total investment of Rs 10,000 crore.
12:02 pm: FM Nirmala Sitharaman said 50 tourist destinations will be selected through challenge mode to be developed as a whole package for domestic and international tourism.
12:00 pm: Nirmala Sitharaman said 100 laboratories will be set up in engineering institutions for developing applications for 5G services.
11:50 am: FM Nirmala Sitharaman, in her Budget 2023 speech, announced that 50 additional airports, helipads, water aero drones, and advanced landing grounds will be revived to improve regional air connectivity.
11:45 am: Finance Minister Nirmala Sitharaman said the KYC process will be simplified.
11:40 am: Finance Minister Nirmala Sitharaman, in her Budget 2023 speech, said capital investment outlay being increased by 33% to Rs 10 lakh crores, which would be 3.3% of GDP.
11:35 am: Centre will provide Rs 5,300 crore assistance to the drought-prone central region of Karnataka, said Nirmala Sitharaman during the Budget 2023 presentation.
11:30 am: FM Nirmala Sitharaman said assistance for the traditional artisans and craftspeople will be provided under the PM Vishwa Karma Kaushal Samman.
11:15 am: FM Nirmala Sitharaman said the Centre will set up an agriculture accelerator fund and the agriculture credit target will be set up at Rs 20 lakh crore.
11:10 am: FM Nirmala Sitharaman, during the Budget 2023-24 presentation, said the promotion of tourism will be taken up on a mission mode.
11:08: Nirmala Sitharaman began the Budget 2023 speech and said the Indian economy is on the right track and is heading towards a bright future.
11:05 am: Finance Minister Nirmala Sitharaman begins the Budget 2023 speech
10:55 am: Union Cabinet ministers have okayed the Budget 2023 and Finance Minister Nirmala Sitharaman will present it shortly.
9:55 am: Finance Minister Nirmala Sitharaman met President Droupadi Murmu and will then attend the Union Cabinet Meeting. Sitharaman will present the last full budget of the Modi government 2.0 at 11 am.
9:25 am: Finance Minister Nirmala Sitharaman reached Rashtrapati Bhavan to call on President Droupadi Murmu and will further attend the Union Cabinet Meeting.
9:00 am: Finance Minister left for the Parliament with Bahi Khata, to present the Budget 2023 at 11 am.
All eyes are on Union Budget 2023 as it will be presented by Finance Minister Nirmala Sitharaman today at 11 am. Ahead of the Budget 2023, Sitharaman reached the finance ministry where she is expected to meet President Droupadi Murmu.
This is this government’s last full-fledged Budget before the Lok Sabha polls early next year. Union Budget 2023-24 will also be the first normal budget after the coronavirus pandemic.
On Tuesday, Prime Minister Narendra Modi along with President Droupadi Murmu started the Budget Session and addressed the Lok Sabha and Rajya Sabha. In his address, PM Modi said the budget will aim the hopes and aspirations of the common citizen.
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