Finance Minister Nirmala Sitharaman Presenting 5th Budget of the Largest Democracy in the World
Major Takeaways from the #Budget2023 🧵
Major Takeaways from the #Budget2023 🧵
Endorsed Aadhaar, UPI, CoWIN and Government Schemes
•11.7 Crore Toilets under Swacch Bharat Mission
•9.6 Cr LPG Ujjwala
•220 Crore COVID-19 Vaccination
•47.8 Crore PM Jan Dhan Yojna
•46.4 Crore under PM Insurance Schemes
•2.2 Lakh Crore Cash Transfer to 11.4 Crore Farmers
•11.7 Crore Toilets under Swacch Bharat Mission
•9.6 Cr LPG Ujjwala
•220 Crore COVID-19 Vaccination
•47.8 Crore PM Jan Dhan Yojna
•46.4 Crore under PM Insurance Schemes
•2.2 Lakh Crore Cash Transfer to 11.4 Crore Farmers
Govt is Focused on Tech & Knowledge Driven Economy & Building Strong Financial Infrastructure
Also creating ample opportunities for youth, Economic Empowerment of Women
Also creating ample opportunities for youth, Economic Empowerment of Women
Talked about Inclusive Development, Farmers, Women, OBCs/SC/ST, Economically Weaker, Underprivileged, Ladakh, North East, J&K
Support for Tech & Startups, Agriculture Accelerator Fund will be set up for Young Entrepreneurs
Support for Tech & Startups, Agriculture Accelerator Fund will be set up for Young Entrepreneurs
Agricultural Credit Target will be increased to ₹20 Lakh Crore, PPI Partnerships
Now Initiatives on
•Health
•Education &
•Skilling
-157 New Nursing Colleges in 4 Locations
-Opened ICMR Infra for Private Research
-New Pharma Program for R&Ds
Now Initiatives on
•Health
•Education &
•Skilling
-157 New Nursing Colleges in 4 Locations
-Opened ICMR Infra for Private Research
-New Pharma Program for R&Ds
National Digital Library for Children will be set up, States will be encouraged to set up Physical libraries and build Infra to access Digital Library
To Build the Culture of Reading in India, Wow
Replenish Old Books, Collaborate with NGOs and Endorse Financial Literacy! Great
To Build the Culture of Reading in India, Wow
Replenish Old Books, Collaborate with NGOs and Endorse Financial Literacy! Great
₹15,000 Crore for Development Action Plan of STs
In the next 3 Years, 38,800 Teachers for 740 Eklavya Model Residential Schools for 3.5 Lakh Tribal Students
₹5300 Crore for Upper Bhadra to Provide Sustainable Drinking Water
In the next 3 Years, 38,800 Teachers for 740 Eklavya Model Residential Schools for 3.5 Lakh Tribal Students
₹5300 Crore for Upper Bhadra to Provide Sustainable Drinking Water
Bharat Shared Repository, Digitisation of 1 Lakh Ancient Scriptures
₹79,000 Crore for PM Awas Yojana
Capital Outlay is up by a massive 33% to ₹10 Lakh Crore, Government CapEx is ₹13 lakh crore
Encouraging Private Investments & PPP for Building Infrastructure
₹79,000 Crore for PM Awas Yojana
Capital Outlay is up by a massive 33% to ₹10 Lakh Crore, Government CapEx is ₹13 lakh crore
Encouraging Private Investments & PPP for Building Infrastructure
Ease of Doing Business - More than 39,000 Compliances have 3400 Legal Provision have been decriminalised in India
Jan Vishwas Bill to amend 43 Central Acts to unleash the Potential of Businesses
Jan Vishwas Bill to amend 43 Central Acts to unleash the Potential of Businesses
Focus on AI - 3 Centre for AI Excellence will be Setup at Top Educational Institutes in India
In the area of Agriculture, Health & Sustainable Cities
In the area of Agriculture, Health & Sustainable Cities
KYC Process to be Simplified, 100% Digital and Digi Locker Integrated for Businesses
Vivad se Vishwaas - Relief to MSMEs, Standardization of Settling Contractual Disputes
Result Based Finance for Competing Developments on Pilot Basis, Sounds Good
Vivad se Vishwaas - Relief to MSMEs, Standardization of Settling Contractual Disputes
Result Based Finance for Competing Developments on Pilot Basis, Sounds Good
₹700 Crore for Phase 3 e-Courts
FM Talking about FinTech Now, Digi Locker for MSMEs & Charitable Trusts. Aadhaar, V-KYC etc
5G Services - 100 Labs for Developing Applications in Education, Health, Agriculture
5-Year Grant to IIT for Lab Grown Diamonds, Also to reduce Imports
FM Talking about FinTech Now, Digi Locker for MSMEs & Charitable Trusts. Aadhaar, V-KYC etc
5G Services - 100 Labs for Developing Applications in Education, Health, Agriculture
5-Year Grant to IIT for Lab Grown Diamonds, Also to reduce Imports
Seems Laser Focused on 'Green' Word
₹35000 Crore Investment for Energy Transmission
Investments for Battery Storage (4000 mWH), ₹20,700 Crore for Renewable Energy in Laddakh & Net Zero CO2 Emissions
₹35000 Crore Investment for Energy Transmission
Investments for Battery Storage (4000 mWH), ₹20,700 Crore for Renewable Energy in Laddakh & Net Zero CO2 Emissions
Replacing Old Polluting Vehicles (Scrapping) of Central Government, States to replace Old State Ambulances
Some mention about New Education Policy, PM Kaushal Vikas Yojna, On-Job Training, Industry Partnerships, Coding, Roboting, AI, Soft Skills
Some mention about New Education Policy, PM Kaushal Vikas Yojna, On-Job Training, Industry Partnerships, Coding, Roboting, AI, Soft Skills
30 Skill India International Institute will be set up, To Support 47 Lakh Youth in 3 Years, Schemes will be rolled out
Tourism - 50 Destination will be developed as a complete package, with better connectivity, to Promote Domestic Tourism' Dekho Apna Desh' 'Swadesh Darshan'
Tourism - 50 Destination will be developed as a complete package, with better connectivity, to Promote Domestic Tourism' Dekho Apna Desh' 'Swadesh Darshan'
Credit Guarantee for MSMEs - ₹9000 Crore Infusion, this will enable Credit of ₹2 Lakh Crore, to reduce the cost of Borrowing
Financial Regulators to Review & Take Public Consultations
Financial Regulators to Review & Take Public Consultations
Fiscal Support for Digital Public Infra will continue
Important - Mahila Samman Savings Certificate will be made available up to March 2025
Max Amount- ₹2 Lakh Per Account, Interest Rate - 7.5%
Important - Mahila Samman Savings Certificate will be made available up to March 2025
Max Amount- ₹2 Lakh Per Account, Interest Rate - 7.5%
Senior Citizens Deposit Limit Increased from ₹15 Lakh to ₹30 Lakh for Good
Post Office MIS Scheme - Increased from ₹4.5 Lakh to ₹9 Lakh, from ₹9 Lakh to ₹15 Lakh for Joint Accounts.
Both Extremely helpful for Senior Citizens
Post Office MIS Scheme - Increased from ₹4.5 Lakh to ₹9 Lakh, from ₹9 Lakh to ₹15 Lakh for Joint Accounts.
Both Extremely helpful for Senior Citizens
Part B | Indirect Taxes Now
To Promote Exports, Green Mobility, a Simplified Tax Structure, Customs, and Excise Duty are being Introduced
Custom Duty cuts on Lithium-ion Battery
To Promote Exports, Green Mobility, a Simplified Tax Structure, Customs, and Excise Duty are being Introduced
Custom Duty cuts on Lithium-ion Battery
Mobile Phone & TV Manufacturing
India went from ₹18,900 Cr in 2014 to ₹27500 Cr in 2022 in Mobile Manufacturing, Wow
Relief in Custom Duty for Parts of Mobile & TV Manufacturing
India went from ₹18,900 Cr in 2014 to ₹27500 Cr in 2022 in Mobile Manufacturing, Wow
Relief in Custom Duty for Parts of Mobile & TV Manufacturing
Now Most Important - Direct Taxes (Sit Tight) 👇
Processed 6.5 Crore Income Tax Returns This Year
Processing Time Reduced by a Big Margin, Average Period is 16 days & 45% Resolutions within 24 Hours.
Processed 6.5 Crore Income Tax Returns This Year
Processing Time Reduced by a Big Margin, Average Period is 16 days & 45% Resolutions within 24 Hours.
MSMEs up to ₹3 Crore Turnover & Individuals up to ₹75 Lahks get Presumptive Taxation
Startups - Some benefits on Incorporation
Startups - Some benefits on Incorporation
No Taxes now upto ₹7 Lakh Income
New Tax Slabs here 👇
Will be doing a detailed comparison between Old Tax & New Tax Regime.
Thanks for reading, Follow @Ravisutanjani for more
New Tax Slabs here 👇
Will be doing a detailed comparison between Old Tax & New Tax Regime.
Thanks for reading, Follow @Ravisutanjani for more
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