Complete Union Budget 2023

A Lot of peoples including Salaried Sector, Middle Class Sector etc. eagerly waits for the Union Budget to launch as the budget is solely connected to every Indian’s livelihood.

Today in This Article, We Will Provide you complete Explanation of  Union Budget 2023 along with answering the most asked Question-What will Become Cheaper and what Will Become Costlier ?

In this Article you will get knowledge of these Topics-

·         Preference to the underprivileged

·         Announcements for Woman

·         Salaried bats

·         Good news for the elderly

·         Things that will become expensive

·         Things that will become cheap

·         Announcement of PM Pranam

·         What announcement on farming-animal husbandry

Finance Minister Nirmala Sitharaman made crores of people happy with her budget announcements today. In the budget that came before the 2024 Lok Sabha elections, big announcements have been made for many areas including salaried people, women and the elderly. Read further what big announcements the Finance Minister made in the 87-minute speech.

Union Finance Minister Nirmala Sitharaman has tried to please almost every section in Budget 2023. The government opened the treasury for the salaried, elderly and women. Good news has come for the people who have been waiting for the change in Income Tax News in Hindi for the last 9 years. Now a person earning up to Rs 7 lakh annually will not have to pay tax. This has brought great relief to the employed people. In the very beginning of his speech, the Finance Minister said that this is the first budget of Amrit Kaal. Economic growth is estimated to be 7 percent. This is the highest among the major economies of the world. During this, slogans of 'Bharat Jodo' were also raised in the Parliament. In fact, at the same time Rahul Gandhi had reached Parliament for the budget session. However, the Finance Minister kept on giving her speech. The Finance Minister said that during the Kovid-19 pandemic, we ensured that no one went hungry, so we launched a scheme to provide free ration to 80 crore people. It has lasted for 28 months.

The Finance Minister said that the entire expenditure of Rs 2 lakh crore of PM Garib Kalyan Anna Yojana was borne by the Central Government. Amidst today's global challenges, the G20 presidency has given us an opportunity to strengthen India's role in the world. The Finance Minister said that apart from tackling global challenges, our government is committed to the public interest agenda. Since 2014, our government has tried to improve the standard of living of all citizens and the per capita income has more than doubled to reach Rs 1.97 lakh. Indian economy has become the 5th largest economy from 10th in 9 years.

Preference to the underprivileged-Promises to Provide Free Ration to All for another Year

Sitharaman said that the central government is spending Rs 2 lakh crore under the Pradhan Mantri Garib Kalyan Anna Yojana. Free food grains for the poor have been extended for one year under the Antyodaya scheme. The Finance Minister stated his priority to provide maximum job opportunities. Talked about women empowerment, tourism and strengthening the business environment. Nirmala Sitharaman said that the scope of organized sector in the economy has increased; the number of working people has increased. The Finance Minister gave his speech in English but talked about 'preference to the underprivileged' in Hindi.

Announcements for Woman

·         Announcement of a new small savings scheme named Mahila Samman Bachat Patra for two years. In this, women and girls will be able to deposit money up to Rs 2 lakh and will get a fixed interest of 7.5 percent. There will also be an option to partially withdraw.

·         The limit of Senior Citizen Account Scheme will be increased from Rs 4.5 lakh to Rs 9 lakh.

·         Notification of Green Credit Card will happen soon and facilities will increase in Digilock. 47 lakh youth will get allowance for three years.

·         Provision of nine thousand crores for credit guarantee scheme. Announcement of one percent rebate in interest of MSME.

·         Pradhan Mantri Kaushal Vikas Yojana 4.O will be launched.

Announcements for Salaried

·         The Finance Minister has made a big announcement for the salaried. Now those earning Rs 7 lakh annually will not have to pay any tax. 5 important announcements have been made in personal tax. In the new tax system, the exemption limit has been raised to 7 lakhs. This would mean-

·         Those earning 9 lakh will have to pay tax of only 45 thousand rupees.

·         Those earning 15 lakhs will now have to pay 1.5 lakh tax. There was a profit of 20%.

News for the elderly

The limit of Senior Citizen Account Scheme will be increased from Rs 4.5 lakh to Rs 9 lakh. This means that senior citizens will be able to deposit up to Rs 9 lakh in this scheme instead of the maximum of Rs 4.5 lakh. At the same time, the maximum deposit amount in a joint account has been increased to Rs 15 lakh.

Things that will become expensive

·         Cigarette

·         Sleep

·         Silver

·         platinum

·         imported silver articles

·         kitchen chimney

Things that will become cheap

·         Mobile phones

·         Electric vehicles

·         Camera lens

·         Toys

·         Bicycle

·         Automobile

·         LED TV

·         Things related to biogas

Announcement of PM Pranam

·         PM Pranam Yojana has been announced to promote alternative fertilizers. 500 new plants will be set up under the Gobardhan Yojana. Provision of ten thousand crores for cow dung.

·         The Finance Minister made a big announcement for the states. He said that the Center will continue to give interest-free loans for 50 years to the state governments for one more year.

·         Millets to be named 'Shri Anna', Hyderabad's center of excellence will work to make India a global hub.

·         Adequate fund provision will be made for vehicle scrap policy

·         100 labs based on 5G services will be set up in engineering institutes, creating the basis for new business opportunities and job creation.

·         38,000 teachers and supporting staff will be recruited in the next 3 years for 740 Eklavya Model Residential Schools.

·         Provision of Rs 7,000 crore for the third phase of e-courts in the budget.

What announcement on farming-animal husbandry

·         The Finance Minister said that the government's economic agenda is focused on facilitating opportunities for citizens, accelerating growth and employment generation, as well as strengthening macroeconomic stability.

·         The minister announced that the government will give priority to start-ups related to agriculture. Agriculture fund will be set up to encourage agri-startups of young entrepreneurs.

·         Keeping special focus on animal husbandry, dairy and fisheries, the agricultural loan target will be increased to Rs 20 lakh crore.

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