{"id":1242240,"date":"2023-02-01T15:15:24","date_gmt":"2023-02-01T09:45:24","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1242240"},"modified":"2023-02-01T15:15:57","modified_gmt":"2023-02-01T09:45:57","slug":"budget-2023-whats-cheaper-whats-expensive-check-highlights-of-budget-2023","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/budget-2023-whats-cheaper-whats-expensive-check-highlights-of-budget-2023\/","title":{"rendered":"Budget 2023: What’s Cheaper & What’s Expensive? Check Highlights Of Budget 2023.."},"content":{"rendered":"\n

India’s Union Budget 2023 was presented by Finance Minister Nirmala Sitharaman, emphasizing infrastructure and jobs. Capital investment has increased by 33% to 10 lakh crore, 3.3% of GDP, for the third year in a row. <\/p>\n\n\n\n

\"Budget<\/figure>\n\n\n\n

The budget focuses on seven key areas: inclusive development, reaching the last mile, infrastructure and investment, unleashing potential, green growth, youth power, and the financial sector.<\/p>\n\n\n\n

Cheaper items include:<\/strong> reduced customs duty on parts of open cells of TV panels, certain inputs for mobile phone manufacturing, seeds used in lab-grown diamond manufacturing, and shrimp feed. <\/p>\n\n\n\n

Costlier items include:<\/strong> cigarettes with a 16% hike in tax, compounded rubber with a basic import duty increase from 10% to 25%, articles made from gold bars, and kitchen electric chimneys.<\/p>\n\n\n\n

The new income tax regime<\/strong> has reduced the number of slabs from 6 to 5, increased the tax exemption limit to Rs 3 lakhs, and increased the income tax rebate limit from Rs 5 lakh to Rs 7 lakh. It will now be the default tax option. <\/p>\n\n\n\n

The limit for presumptive taxation for MSMEs and certain professionals has been increased to Rs 3 crore and Rs 75 lakh respectively.<\/p>\n\n\n\n

Other highlights include: <\/strong><\/p>\n\n\n\n

5.9% deficit target<\/p>\n\n\n\n

5% compressed biogas mandate<\/p>\n\n\n\n

New scheme for optimal use of wetlands<\/p>\n\n\n\n

New Pradhan Mantri Kaushal Vikas Yojna 4.0<\/p>\n\n\n\n

PM-PRANAM<\/p>\n\n\n\n

Gowardhan Scheme<\/p>\n\n\n\n

Green credit program<\/p>\n\n\n\n

Support for setting up battery energy storage of 4,000 MWh<\/p>\n\n\n\n

Rs 35,000 crore set aside for energy transition<\/p>\n\n\n\n

50-year interest-free loans to state governments<\/p>\n\n\n\n

National mission for vulnerable tribes<\/p>\n\n\n\n

Highest-ever allocation of Rs 2.4 lakh crore to Railways<\/p>\n\n\n\n

Urban planning focus<\/p>\n\n\n\n

Assistance to drought-stricken Karnataka<\/p>\n\n\n\n

Enhanced PM Awaas Yojana<\/p>\n\n\n\n

National Digital Library for children and adolescents<\/p>\n\n\n\n

New sub-scheme for the fisheries sector under PM Matsya Sampada Yojana.<\/p>\n","protected":false},"excerpt":{"rendered":"

India’s Union Budget 2023 was presented by Finance Minister Nirmala Sitharaman, emphasizing infrastructure and jobs. Capital investment has increased by 33% to 10 lakh crore, 3.3% of GDP, for the third year in a row. The budget focuses on seven key areas: inclusive development, reaching the last mile, infrastructure and investment, unleashing potential, green growth, […]<\/p>\n","protected":false},"author":30,"featured_media":1242244,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[638],"class_list":["post-1242240","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-budget-2023"],"acf":[],"yoast_head":"\nBudget 2023: What's Cheaper & What's Expensive? 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