Ahead of tabling of the Union budget 2023 in Parliament on Tuesday, Finance Minister Nirmala Sitharaman along with ministers of state Pankaj Chaudhary and Bhagwat Karad and Finance Secretary T V Somanathan called on President Droupadi Murmu. This Budget marks the last Budget of Prime Minister Narendra Modi government in the Parliament of this term. The Finance Minister will table the Union Budget 2023-24 at 11 am in Lok Sabha today, following which she will address the House. The government will present the Union Budget in paperless form like the previous two ones.
12:30, 1st Feb
Personal Income Tax: 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%, “
12:29, 1st Feb
Nirmala Sitharaman proposes to reduce highest surcharge rate from 37 per cent to 25 per cent.
12:29, 1st Feb
New tax regime will be default tax regime
12:26, 1st Feb
The rebate under section 87A of new income regime hiked to Rs 7 lakh, says FM
12:25, 1st Feb
The income tax returns processing period has been reduced by 16 days, says finance minister
12:24, 1st Feb
Income Tax exemption limit raise to 7 lakh from 5 lakh only in the New Tax regime
12:18, 1st Feb
I propose to reduce the number of basic custom duty rates on goods other than textiles and agriculture, from 21% to 13%. As a result, there are minor changes in the basic custom duties, cesses & surcharges on some items including toys, bicycles, automobiles: FM Nirmala Sitharaman.
12:13, 1st Feb
Total receipts or receipts other than borrowing is Rs 24.3 lakh crore of which net tax receipts are Rs 20.9 lakh crore. The revised estimate of the total expenditure is Rs 41.9 lakh crore, of which the capital expenditure is about Rs 7.3 lakh crore
12:11, 1st Feb
Relief in customs duty on import of parts like camera lens. Extend customs duty cut on imports of parts of mobile phones by 1 year.
12:10, 1st Feb
The maximum deposit for senior citizen saving scheme to be enhanced for Rs 15 lakh to Rs 30 lakh
12:09, 1st Feb
Revised estimate for 2022-23 fiscal deficit at 5.9% of GDP, says FM
12:05, 1st Feb
Support to the Youth: To provide support to 47 lakh youths in 3 years, a Direct Benefit Transfer under a pan India national apprenticeship scheme will be rolled out: FM Nirmala Sitharaman
12:00, 1st Feb
Required financial support to be provided to poor persons who are in prison and unable to afford penalty or bail amount: Nirmala Sitharaman
11:58, 1st Feb
FM Nirmala Sitharaman : India is moving forward firmly to achieve the net zero target. The recently launched national green hydrogen with an outlay of Rs 19,700 crore will facilitate the transition of the economy to low carbon intensity and reduce dependency on fossil fuel imports. Our target is to reach an annual production of 5 MMT by 2030.
11:56, 1st Feb
Replacing old polluting vehicles is important in ‘greening our economy’, says Nirmala Sitharaman
11:55. 1st Feb
Custom duty on lab grown diamonds to be reduced
11:51, 1st Feb
Green Growth in India: Target to reach green hydrogen production of 5 MMT by 2030. Rs 35,000 crore allocated towards achieving net zero goal & energy transition: FM
11:50, 1st Feb
For business establishments required to have Permanent Account Number, the PAN will be used as a common identifier for all Digital Systems of specified government agencies, says FM Nirmala Sitharaman
11:49, 1st Feb
Niti Ayog to continue for 3 years, announces Nirmala Sitharaman
11:45, 1st Feb
KYC process will be simplified. Nirmala Sitharama says the KYC process will now be adopting risk-based approach rather than one-size-fits-all apporach
11:44, 1st Feb
50-year interest free loan to State governments extended for one more year
11:44, 1st Feb
National Data Governance policy, to unleash innovation, will be brought out to enable to access to anonymised data
11:42, 1st Feb
All cities and towns will be enabled for 100% mechanical de-sludging of septics tanks & sewers to transition from manhole to machine hole mode
11:41, 1st Feb
“More than 39,000 compliances have been reduced and more than 3,400 legal provisions have been de-criminalised to improve ease of doing business”
11:38, 1st Feb
Nirmala Sitharaman says urban infra development fund will be managed by National Housing Bank (NHB) and will be used by public agencies. “We expect to make available Rs 10,000 crore p.a. for urban infra development fund,” she said.
11:37, 1st Feb
The government has enhanced capital expenditure (capex) outlay by 33% to Rs 10 lakh crore which would be 3.3% of GDP. The amount is almost 3 times the outlay that was made by the government in 2020, says finance minister.
11:36, 1st Feb
To improve social-economic condition of the Particularly Tribal Groups, PMPBTG Development mission will be launched, to saturate PBTG habitations with basic facilities. Rs 15,000 cr to be made available to implement scheme in next 3 years: FM Nirmala Sitharaman.
11:34, 1st Feb
11:31, 1st Feb
Indian Institute of Millet Research will be supported as a centre of excellence: FM Nirmala Sitharaman in Parliament
11:30, 1st Feb
In next 3 years, government will employ 38,800 teachers and support staff for 740 Eklavya model schools supporting tribal students, says FM
11:30, 1st Feb
PM Awas Yojana Fund Increased By 66% To 79,000 Cr
11:29, 1st Feb
National book trust will be encourage to replenish non-curricular titles in regional languages and English in physical libraries, says Nirmala Sitharaman
11:28, 1st Feb
15,000 Cr Will Be Spent In Three Years On Schedule Tribe Mission
11:27, 1st Feb
Collaboration between farmers, state and industry: “…We will adopt a cluster based approach… and promote collaboration between farmer state and industry for input supply, extension service sand market linkages.”
11:26, 1st Feb
The government will launch the Atmanirbhar Clean Plant Programme to improve availability of disease-free quality planting material for high-value horticultural crops at an outlay of Rs 2,200 crore: Finance Minister Nirmala Sitharaman
11:25, 1st Feb
Atmanirbhar Clean Plant Programe: The government will launch the Atmanirbhar Clean Plant Programme to improve availability of disease-free quality planting material for high-value horticultural crops at an outlay of Rs 2,200 crore: Finance Minister Nirmala Sitharaman
11:24, 1st Feb
9.6 crore LPG connections, 220 crore Covid vaccination for 102 crore people given, 47.8 crore JanDhan accounts opened, says Sitharaman
11:22, 1st Feb
Nirmala Sitharaman announces Agriculture Accelerator Fund to boost agri startups
11:22, 1st Feb
The country offers immense attraction for domestic as well as foreign tourists. There is a large potential to be tapped in tourism. The sector holds huge opportunities for jobs and entrepreneurship for youth in particular: FM Nirmala Sitharaman
11:21, 1st Feb
57 new nursing colleges will be established in core locations, says FM
11:20, 1st Feb
9.6 crore LPG connections, 220 crore Covid vaccination for 102 crore people given, 47.8 crore JanDhan accounts opened, says Sitharaman.
11:18 , 1st Feb
An Agriculture Accelerator Fund will be set up to encourage agri-startups by young entrepreneurs, says FM