Union Budget 2023-24 Highlights: Part 2...
In the Budget 2023, Finance minister Nirmala Sitharaman has given particular attention to women, farmers, and young people. The middle class families have also received a sizable gift from the centre. The government is kind to women, farmers, and troops. These particular points reveal which sector received what present.
Continuation from part 1....
3. How much will the government spend on defence?
Nirmala Sitharaman, the finance minister, has declared that the nation's defence budget will be 5.93 lakh crores. This is roughly 5.67 percent above the budget from the previous year.
4. New savings scheme launched for women
In her budget presentation on Wednesday, Nirmala Sitharaman, the minister of finance, unveiled a new savings programme for women.
Interest on deposits will be paid under this two-year Mahila Samman Savings Certificate programme at a fixed rate of 7.5 percent.
5. Tax will not have to be paid on income up to 7 lakhs
Prior to the general elections of next year, Finance minister Nirmala Sitharaman included tax reduction for the middle class and employed people in her whole budget. According to the new tax system, no tax will be applied to income up to Rs 7 lakh.
To be continued in part 3...