Union Budget 2023-24 Key Highlights: Part 1...
Finance minister Nirmala Sitharaman has presented the country's general budget in the parliament on 1 February. The government has made changes in the tax slab, due to which the middle class people have got a big relief. Salary up to 7 lakhs has been made tax free. The government has also presented the biggest railway budget so far. Big changes can be seen in the railway sector. The government has allocated Rs 2.40 lakh to the Railways.
The government has announced that during 2023-24, the central government will focus on capital expenditure of Rs 10 lakh crore. The country's GDP can remain around 5.9 percent. Let us know, what is special in this budget...
1. The government is kind to the railways
The capital spending for the Railways has climbed to Rs 2.40 lakh crore in the general budget of 2023–24, which is the biggest amount ever, according to Finance minister Nirmala Sitharaman on Wednesday. The sum allotted to the Railways in 2013–14 is nine times greater than the amount currently allotted, according to Sitharaman, who presented the budget in the Lok Sabha.
2. Center's emphasis on startups
The government on wednesday suggested providing income tax incentives to startups through march 2024, according to the finance minister. Additionally, during her budget statement, Finance minister Nirmala Sitharaman stated that the government intends to extend the benefit of carrying forward losses for startups by a further ten years.