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New Delhi:
Union Budget 2023 was presented by Finance Minister Nirmala Sitharaman today which unveiled one of its biggest jumps in capital spending in the past decade and said the fiscal deficit would fall next year.
The Budget adopted "seven priorities" - inclusive development, reaching the last mile, infrastructure and investment, unleashing the potential, green growth, youth power and financial sector - to guide India through the "Amrit Kaal".
Prime Minister Narendra Modi praised the Budget and said that it would lay a strong foundation for building a developed India. The Prime Minister said that the Budget gives priority to the deprived and will fulfill the dreams of the aspirational society, the farmers and middle class.
This year's Budget holds much significance as this is the last full Budget before the 2024 general elections. This is the Finance Minister's fifth Budget presentation since 2019.
Here are the Highlights of Union Budget 2023:
Budget Is Disappointing, Lacks Vision: Nitish Kumar
Bihar Chief Minister Nitish Kumar on Wednesday termed the Union budget "disappointing" and alleged that the state was "neglected" with no attention having been paid to demands such as special status and a special package of Rs 20,000 crore.
Nitish Kumar, who was away in the north Bihar district of Supaul for his 'Samadhan Yatra', came out with a written statement on the budget, upon return to the state capital, late in the evening.
Budget Allocates Rs 12,544 Crore For Department Of SpaceFinance Minister Nirmala Sitharaman on Wednesday allocated nearly Rs 12,544 crore to the Department of Space as India plans a human spaceflight -- Gaganyaan -- next year and sets out to explore the moon and neighbouring planets.
Budget 2023: 150% Hike In Outlay Of Swachh Bharat Mission-Urban
In a major boost to the Swachh Bharat Mission (Urban), the Centre on Wednesday announced a 150-per cent hike in the outlay of its flagship scheme with an allocation of Rs 5,000 crore in the Union Budget 2023-24.
However, there has been a nine-per cent decrease, with an allocation of Rs 2,132 crore, for the construction of non-residential office buildings, including the Central Vista project, Parliament and Supreme Court, as compared to the revised estimates of Rs 2,344.08 crore in the last fiscal.
Finance Minister Likely To Address RBI Board On February 11
Finance Minister Nirmala Sitharaman is likely to address the Reserve Bank of India's central board on February 11 and highlight key points of the Union Budget, including the fiscal consolidation roadmap and high capital expenditure plan.
The post-budget meeting has been scheduled for February 11 where Finance Minister Sitharaman would be addressing the board members and talk about announcements made in the Budget 2023-24 to perk up growth in view of geopolitical tension and tightening interest environment by central banks across the world, sources said.
It is customary for the finance minister to address the Reserve Bank of India board after the budget.
Income, Corporate Taxes To Grow By 10.5% To â‚ą 18.23 Lakh In FY24
The government on Wednesday projected a 10.5 per cent growth in revenues from corporate and individual income tax to Rs 18.23 lakh crore in the next fiscal. The revised estimates for the current fiscal pegged direct tax revenues at Rs 16.50 lakh crore, higher than the budget estimates of Rs 14.20 lakh crore. Read here
The government on Wednesday projected a 10.5 per cent growth in revenues from corporate and individual income tax to Rs 18.23 lakh crore in the next fiscal. The revised estimates for the current fiscal pegged direct tax revenues at Rs 16.50 lakh crore, higher than the budget estimates of Rs 14.20 lakh crore. Read here
'Vande Metro' Announced As Railway Gets Highest-Ever Allocation
Vande Metro, a mini version of the Vande Bharat Express trains, will be developed by the Railways for people living around big cities to travel to and fro in comfort between their place of work and hometowns, Railway Minister Ashwini Vaishnaw said on Wednesday.
Addressing a press conference after Finance Minister Nirmala Sitharaman announced the highest-ever capital outlay for the railways in the Union Budget 2023-24 at Rs 2.40 lakh crore, Vaishnaw also said India will get its first Hydrogen train by December 2023 which will be completely indigenously manufactured. It will initially be run on heritage circuits like Kalka-Shimla.
Union Budget 2023: Budget Allocation For Minority Affairs Ministry Reduced By Over 38%Budget 2023: The budgetary allocation for the Minority Affairs Ministry has been reduced by over 38 per cent to Rs 3097.60 crore for 2023-24 as compared with the last fiscal.
Union Budget Is For Projects In BJP-Ruled, Poll-Bound States: MK Stalin
The Union Budget has given an impression that it is an exercise for development projects in BJP-ruled states, particularly those going to polls, DMK President and Tamil Nadu Chief Minister MK Stalin said on Wednesday.
Unemployment, price rise and inflation have been ignored and there are no constructive efforts aimed at financial independence of states, MK Stalin said in a statement.
5 Things That Will Change In Personal Income Tax After Budget 2023In the last full Budget before Prime Minister Narendra Modi seeks a third term, the government today unveiled a slew of measures aimed at appeasing India's middle class.
Budget 2023: Mixed Response From Agri Industry, Farmer Bodies
Agri industry players and farmer bodies on Wednesday gave mixed response to the Budget, saying it did not focus on edible oils, reducing GST on agri inputs and raising financial aid to farmers under PM-KISAN scheme.
Godrej Agrovet Managing Director Balram Yadav termed the Budget a" tech-focused-inclusive Budget for Indian farmers," while Syngenta India Chief Sustainability Officer KC Ravi said it will catapult the agriculture ecosystem to greater heights.
Agri industry players and farmer bodies on Wednesday gave mixed response to the Budget, saying it did not focus on edible oils, reducing GST on agri inputs and raising financial aid to farmers under PM-KISAN scheme.
Godrej Agrovet Managing Director Balram Yadav termed the Budget a" tech-focused-inclusive Budget for Indian farmers," while Syngenta India Chief Sustainability Officer KC Ravi said it will catapult the agriculture ecosystem to greater heights.
Budget 2023 Proposes Taking Away Income Tax From News Agencies
The Union Budget on Wednesday proposed removing the exemption from paying income tax by news agencies.
The Union Budget on Wednesday proposed removing the exemption from paying income tax by news agencies.
Big Tech Treating Employees Shabbily Not Agreeable: Junior IT Minister Rajeev Chandrasekhar
The trend of multi-billion-dollar tech companies announcing mass layoffs earned the disapproval of junior IT minister Rajeev Chandrasekhar on Wednesday, as he invited Indians sacked by the likes of Google, Facebook and Microsoft to return and join firms like Tata Consultancy Services (TCS).
"So-called Big Tech companies treating their employees and treating their workforce in what is really quite a shabby manner is obviously not agreeable to any one of us," Mr Chandrasekhar told NDTV.
The trend of multi-billion-dollar tech companies announcing mass layoffs earned the disapproval of junior IT minister Rajeev Chandrasekhar on Wednesday, as he invited Indians sacked by the likes of Google, Facebook and Microsoft to return and join firms like Tata Consultancy Services (TCS).
"So-called Big Tech companies treating their employees and treating their workforce in what is really quite a shabby manner is obviously not agreeable to any one of us," Mr Chandrasekhar told NDTV.
Centre Proposes To Enhance Presumptive Taxation Limit For MSMEsThe government today proposed to enhance the limit for presumptive taxation for MSMEs and certain professionals provided their cash receipts are less than 5 per cent of the total turnover or gross receipts.
Nothing in Union Budget to solve economic disparities in country: Kerala CM
Kerala Chief Minister Pinarayi Vijayan on Wednesday said the Union Budget 2023-24 does not attempt to solve the growing economic disparities in the country.
Kerala Chief Minister Pinarayi Vijayan on Wednesday said the Union Budget 2023-24 does not attempt to solve the growing economic disparities in the country.
Budget 2023: Who Gained And Who LostPrime Minister Narendra Modi's government delivered the budget on Wednesday that laid out a slew of measures to bolster infrastructure for creating more jobs and attract investment ahead of next year's crucial national election.
Digitalisation Only Going To Increase In India: IT Minister
Union IT minister Rajeev Chandrasekhar says digitalisation is only going to increase in India. "DigiLocker is personal cloud for every Indian citizen," he told NDTV in an exclusive interview.
Union IT minister Rajeev Chandrasekhar says digitalisation is only going to increase in India. "DigiLocker is personal cloud for every Indian citizen," he told NDTV in an exclusive interview.
Budget 2023: "We will achieve": Nirmala Sitharaman on $5 trillion economy target
"We are moving along to become a $5 trillion economy. We will achieve (the target)," said Nirmala Sitharaman.
"We are moving along to become a $5 trillion economy. We will achieve (the target)," said Nirmala Sitharaman.
Budget 2023 Gives Big Leg-Up To Capital Investment: Nirmala Sitharaman
"The budget gives a big leg-up to capital investment, it also attends to MSMEs as they are the engine of growth, it sustains capital investment and also gives a push to the private sector while also giving tax reliefs to individuals and middle class," said the Finance Minister.
"The budget gives a big leg-up to capital investment, it also attends to MSMEs as they are the engine of growth, it sustains capital investment and also gives a push to the private sector while also giving tax reliefs to individuals and middle class," said the Finance Minister.
Budget 2023: Corporate Affairs Ministry gets Rs 756 Crore
The corporate affairs ministry will get a budgetary allocation of Rs 756.19 crore in the next financial year, higher than the amount earmarked for the ongoing fiscal ending March 31.
The Budget documents showed that out of the total amount of Rs 756.19 crore for the next fiscal, Rs 714.19 crore will be from the revenue side and Rs 42 crore from the capital side for 2023-24.
The funds towards regional directors, official liquidators and other expenditures with reference to various bodies under the Companies Act have been hiked to Rs 330 crore for the next financial year over the current fiscal.
The corporate affairs ministry will get a budgetary allocation of Rs 756.19 crore in the next financial year, higher than the amount earmarked for the ongoing fiscal ending March 31.
In 2022-23, the total allocation was initially at Rs 733.02 crore, and the same was sharply revised to Rs 630.36 crore, according to the Union Budget 2023-24 presented in Parliament on Wednesday.
The Budget documents showed that out of the total amount of Rs 756.19 crore for the next fiscal, Rs 714.19 crore will be from the revenue side and Rs 42 crore from the capital side for 2023-24.
The funds towards regional directors, official liquidators and other expenditures with reference to various bodies under the Companies Act have been hiked to Rs 330 crore for the next financial year over the current fiscal.
Budget 2023: New savings scheme for women
The deposit can be made in the name of a woman or a girl child. The maximum deposit amount has been kept at Rs 2 lakh and the scheme will have a partial withdrawal facility as well.
The budget allocated to the Women and Child Development Ministry, the nodal department of the government for the welfare of women and children, stood at Rs 25,448.75 crore in 2023-24, an increase of Rs 267 crore from Rs 25,172.28 crore allotted in 2022-23.
The most significant announcement for women in Finance Minister Nirmala Sitharaman's Budget speech was the proposal for the 'Mahila Samman Saving Certificate' with a fixed interest rate of 7.5 per cent for two years.
The deposit can be made in the name of a woman or a girl child. The maximum deposit amount has been kept at Rs 2 lakh and the scheme will have a partial withdrawal facility as well.
Budget 2023: Nirmala Sitharaman on new tax regime
"New taxation regime has now got greater incentives, greater attraction so that people come join the new regime. But we are not compelling anybody. New regime is now simplified and has nicely broken-down slabs, " said Ms Sitharaman.
"New taxation regime has now got greater incentives, greater attraction so that people come join the new regime. But we are not compelling anybody. New regime is now simplified and has nicely broken-down slabs, " said Ms Sitharaman.
Changes in personal income tax will benefit the middle class, said Nirmala Sitharaman.
4 Highlights of Budget 2023
4 Things Emphasised By Budget 2023:
More empowerment to women
Tourism and training of youth for tourism specific action
PM Vishwakarma programme for artisans
Green growth
Budget 2023 fulfils hopes, expectations of country’s poor, middle class: Gujarat Chief Minister
Gujarat Chief Minister Bhupendra Patel said on Wednesday the Union Budget fulfils the hopes and expectations of the country's poor, the deprived, and the middle class by giving them innovative opportunities for development.
"Prioritising seven aspects - 'Saptarishi' - inclusive growth, last-mile delivery, infrastructure and investment, green growth, youth power, financial sector and unleashing the potential of the countrymen, this budget will take India's development to new heights," he said in a message in Gujarati on micro-blogging site Twitter.
Gujarat Chief Minister Bhupendra Patel said on Wednesday the Union Budget fulfils the hopes and expectations of the country's poor, the deprived, and the middle class by giving them innovative opportunities for development.
He said the Budget "embodies" the vision of Prime Minister Narendra Modi of making India a developed nation in the "Amrit Kaal", referred to by the government as the 25-year period till India's independence centenary.
"Prioritising seven aspects - 'Saptarishi' - inclusive growth, last-mile delivery, infrastructure and investment, green growth, youth power, financial sector and unleashing the potential of the countrymen, this budget will take India's development to new heights," he said in a message in Gujarati on micro-blogging site Twitter.
Budget 2023: Expert's key takeaways from Budget
#BudgetWithNDTV | Rajiv Memani, chairman, EY in India, with his big takeaways from #Budget2023 pic.twitter.com/XVfbImgmiX
- NDTV (@ndtv) February 1, 2023
Budget 2023: Rs 1.96 lakh crore allocated to Home Ministry
Sending a clear message about its internal security priorities, the PM Modi government on Wednesday allocated Rs 1.96 lakh crore to the Ministry of Home Affairs (MHA) with a majority of the spending on Central Armed Police Forces such as CRPF and intelligence gathering.
A substantial amount has also been allocated for improving infrastructure along the international border, police infrastructure and modernisation of police forces.
Finance Minister Nirmala Sitharaman presented the Union Budget for 2023-24 in Lok Sabha on Wednesday.
Sending a clear message about its internal security priorities, the PM Modi government on Wednesday allocated Rs 1.96 lakh crore to the Ministry of Home Affairs (MHA) with a majority of the spending on Central Armed Police Forces such as CRPF and intelligence gathering.
The 2023-24 budget allocation to the MHA, helmed by Union Home Minister Amit Shah, is Rs 1,96,034.94 crore. The budget 2022-23 had earmarked Rs 1,85,776.55 crore.
A substantial amount has also been allocated for improving infrastructure along the international border, police infrastructure and modernisation of police forces.
Finance Minister Nirmala Sitharaman presented the Union Budget for 2023-24 in Lok Sabha on Wednesday.
Budget 2023: Government proposes 100 critical projects for last-mile logistics at Rs 75,000 cr
The government has proposed that 100 critical transport infrastructure projects, for last and first-mile connectivity identified in ports, coal, steel, fertilizer and food grain sectors.
Ms Sitharaman proposed hiking the capital expenditure outlay by 33 per cent to Rs 10 lakh crore for infrastructure development for 2023-24 and will be at 3.3 per cent of the GDP.
Presenting the Budget for 2023-24, she said the newly established infrastructure finance secretariat will assist in attracting more private investment.
She said that this will be almost three times the outlay in 2019-20. The 'Effective Capital Expenditure' of the Centre is budgeted at Rs 13.7 lakh crore, which will be 4.5 per cent of GDP.
The government has proposed that 100 critical transport infrastructure projects, for last and first-mile connectivity identified in ports, coal, steel, fertilizer and food grain sectors.
Presenting the Union Budget for 2023-24 in Parliament, Finance Minister Nirmala Sitharaman said these projects will be taken up on priority with an investment of Rs 75,000 crore, including Rs 15,000 crore from private sources.
Ms Sitharaman proposed hiking the capital expenditure outlay by 33 per cent to Rs 10 lakh crore for infrastructure development for 2023-24 and will be at 3.3 per cent of the GDP.
Presenting the Budget for 2023-24, she said the newly established infrastructure finance secretariat will assist in attracting more private investment.
She said that this will be almost three times the outlay in 2019-20. The 'Effective Capital Expenditure' of the Centre is budgeted at Rs 13.7 lakh crore, which will be 4.5 per cent of GDP.
Budget 2023 has considered farmers, tribals, women: Devendra Fadnavis
Maharashtra Deputy Chief minister Devendra Fadnavis on Wednesday said the Union Budget has taken interests of all sections of society, including farmers, tribals, women, youth and middle class into consideration.
Mr Fadnavis, also the state Finance Minister, termed the budget presented by Union Finance Minister Nirmala Sitharaman as 'Sarva Jan Hitai' (benefitting everyone), adding it caters to all segments and sectors.
"The income tax exemptions up to Rs 7 lakh will help lower middle class. At the same time income tax limit of Rs 1.5 lakh for income up to Rs 15 lakh will provide a huge relief to middle class," Mr Fadnavis said.
Budget 2023: Over Rs 946 crore allocated to CBI
The Centre has allocated Rs 946 crore to the Central Bureau of Investigation in the Union Budget 2023-24 announced on Wednesday, a slight increase of over 4.4 per cent from FY 2023.
The agency received Rs 841.96 crore to manage its affairs in the Budget Estimates for 2022-23, which was later increased to Rs 906.59 crore in the Revised Estimates.
The Government has allocated Rs 946.51 crore to the agency for 2023-24, the Budget document presented by Finance Minister Nirmala Sitharaman on Wednesday.
The Centre has allocated Rs 946 crore to the Central Bureau of Investigation in the Union Budget 2023-24 announced on Wednesday, a slight increase of over 4.4 per cent from FY 2023.
The country's premier probe agency is over-stretched in terms of human resources to tackle emerging crime scenes, dominated by artificial intelligence, cryptocurrency, darknet, and conventional crimes like bank fraud cases and ongoing high-profile extradition cases in courts abroad, in addition to criminal cases handed over by various states, High Courts and the Supreme Court.
The agency received Rs 841.96 crore to manage its affairs in the Budget Estimates for 2022-23, which was later increased to Rs 906.59 crore in the Revised Estimates.
The Government has allocated Rs 946.51 crore to the agency for 2023-24, the Budget document presented by Finance Minister Nirmala Sitharaman on Wednesday.
#BudgetWithNDTV: Expert On Budget
#BudgetWithNDTV | "The budget looks very balanced, very upward to me, and there's almost been a good balance in terms of all sectoral areas and interventions": Suchitra Ella, cofounder and MD, Bharat Biotech, on #Budget2023 pic.twitter.com/QSI5iAWQzc
- NDTV (@ndtv) February 1, 2023
Budget 2023 - 'Amrit Kaal' for PM Modi, not for common people: AAP hits out at Budget
The Aam Aadmi Party on Wednesday questioned Union Finance Minister Nirmala Sitharaman's claim about doubling of per capita income since 2014, saying it is 'Amrit Kaal' for Prime Minister Narendra Modi, not for the common people of the country.
The per capita income has more than doubled to Rs 1.97 lakh, she added.
"Neither did the MSP of crops increase nor did the youth get employment. But this is Amrit Kaal for Modi ji. Nirmala ji is saying per capita income has doubled," AAP's Rajya Sabha MP Sanjay Singh, who is also the party's national spokesperson, said in a series of tweets in Hindi, wondering "whose income" doubled.
The Aam Aadmi Party on Wednesday questioned Union Finance Minister Nirmala Sitharaman's claim about doubling of per capita income since 2014, saying it is 'Amrit Kaal' for Prime Minister Narendra Modi, not for the common people of the country.
Highlighting the achievements of the PM Modi dispensation so far, the finance minister in her budget speech said the government's efforts since 2014 have ensured for all citizens a better quality of living and a life of dignity.
The per capita income has more than doubled to Rs 1.97 lakh, she added.
"Neither did the MSP of crops increase nor did the youth get employment. But this is Amrit Kaal for Modi ji. Nirmala ji is saying per capita income has doubled," AAP's Rajya Sabha MP Sanjay Singh, who is also the party's national spokesperson, said in a series of tweets in Hindi, wondering "whose income" doubled.
Budget 2023: "Not a people-friendly budget," says Mehbooba Mufti
"Taxes have increased and money is not being spent on welfare schemes or subsidies. Taxes are being amassed for their crony capitalists. The taxes imposed should have benefitted the people, but they have broken their backs.
The Union Budget is not people-friendly as it has been prepared keeping in mind the interests of a few businessmen, People's Democratic Party (PDP) chief Mehbooba Mufti alleged on Wednesday.
Talking to reporters here, the former Jammu and Kashmir chief minister said the budget presented by Union Finance Minister Nirmala Sitharaman is the same as the ones presented by the BJP-led government over the last eight-nine years.
"Taxes have increased and money is not being spent on welfare schemes or subsidies. Taxes are being amassed for their crony capitalists. The taxes imposed should have benefitted the people, but they have broken their backs.
Budget 2023: Markets Fall Sharply
Big fluctuation in markets after Budget, Sensex down 700 points
Big fluctuation in markets after Budget, Sensex down 700 points
Budget 2023: PM Modi on Budget
#BudgetWithNDTV | "This budget announces an unprecedented investment of Rs 10 lakh crore on infrastructure. This will generate employment for the youth and new income opportunities for the population": PM Modi on #Budget2023 pic.twitter.com/Wbi8pQhASQ
- NDTV (@ndtv) February 1, 2023
Budget 2023: PM Modi on Budget
"Unprecedented investment of Rs 10 lakh crore in infrastructure will give speed and new energy to development," said PM Modi on Union Budget.
"Unprecedented investment of Rs 10 lakh crore in infrastructure will give speed and new energy to development," said PM Modi on Union Budget.
Budget 2023: Akhilesh Yadav's "Nirasha" Jibe At Centre
Union Budget 2023 was presented by Finance Minister Nirmala Sitharaman today which unveiled one of its biggest jumps in capital spending in the past decade and said the fiscal deficit would fall next year.
The Budget adopted "seven priorities" - inclusive development, reaching the last mile, infrastructure and investment, unleashing the potential, green growth, youth power and financial sector - to guide India through the "Amrit Kaal".
Union Budget 2023 was presented by Finance Minister Nirmala Sitharaman today which unveiled one of its biggest jumps in capital spending in the past decade and said the fiscal deficit would fall next year.
The Budget adopted "seven priorities" - inclusive development, reaching the last mile, infrastructure and investment, unleashing the potential, green growth, youth power and financial sector - to guide India through the "Amrit Kaal".
Budget 2023: PM Modi on Budget
"Those toiling traditionally through their hands for the country, 'Vishvakarma' are the creators of this country. For the first time, scheme related to training and support for 'Vishvakarma' has been brought in the budget," said PM Narendra Modi.
"Those toiling traditionally through their hands for the country, 'Vishvakarma' are the creators of this country. For the first time, scheme related to training and support for 'Vishvakarma' has been brought in the budget," said PM Narendra Modi.
Budget 2023: PM Modi on Budget
"In comparison with 2014, 400 per cent increase in infra investment. Rs 10 lakh crore on infra investment. This will get jobs for youth and earn livelihood for a big population," said PM Modi.
"In comparison with 2014, 400 per cent increase in infra investment. Rs 10 lakh crore on infra investment. This will get jobs for youth and earn livelihood for a big population," said PM Modi.
Budget 2023: PM Modi on Budget
"This budget will boost green growth, green economy, green infra, green jobs for sustainability. This Budget focuses on technology and new economy," said the Prime Minister.
"This budget will boost green growth, green economy, green infra, green jobs for sustainability. This Budget focuses on technology and new economy," said the Prime Minister.
Budget 2023: PM Modi on Budget
"There is something for everyone in this Budget. It lays strong foundation for New India," said PM Modi.
"There is something for everyone in this Budget. It lays strong foundation for New India," said PM Modi.
"Nothing In Budget For Common People, States": Trinamool
"There's nothing in this Budget. This is a budget made by keeping the Prime Minister on the front. We didn't see anything in the Budget for the commoners and the states."
- Sudip Bandopadhyay, Trinamool Congress MP
"Well-balanced, progressive": Expert on Budget 2023
"The Budget, presented by Finance Minister Nirmala Sitharaman, is well-balanced, progressive and development-oriented. Along with many necessary changes that have been put in motion, the steps to enhance ease of doing business, such as reducing 39,000 compliances and decriminalising 3,400 legal provisions, is a welcome step," said Harsimarbir Singh, Co-founder at Pristyn Care.
"Acknowledging start-ups as drivers for the Indian economy's growth, the finance minister has also extended the existing tax benefits for such businesses by one more year till March 31, 2024. Healthcare services by the small & medium sector are yet to bounce back, and the Finance Minister's announcement of revamped Credit guarantee scheme, allocation of Rs9,000 crores and reduced credit cost is sure to boost the sector to revive quickly," he added.
"The Budget, presented by Finance Minister Nirmala Sitharaman, is well-balanced, progressive and development-oriented. Along with many necessary changes that have been put in motion, the steps to enhance ease of doing business, such as reducing 39,000 compliances and decriminalising 3,400 legal provisions, is a welcome step," said Harsimarbir Singh, Co-founder at Pristyn Care.
"Acknowledging start-ups as drivers for the Indian economy's growth, the finance minister has also extended the existing tax benefits for such businesses by one more year till March 31, 2024. Healthcare services by the small & medium sector are yet to bounce back, and the Finance Minister's announcement of revamped Credit guarantee scheme, allocation of Rs9,000 crores and reduced credit cost is sure to boost the sector to revive quickly," he added.
Budget 2023: What's going to be cheaper, costlier
#BudgetWithNDTV | Here's what is going to be cheaper and costlier after #Budget2023
- NDTV (@ndtv) February 1, 2023
Deloitte India (@DeloitteIndia) analysis
For LIVE Budget Updates: https://t.co/ckvRk4lRsH pic.twitter.com/tIEDdTXDLV
Budget 2023 - PAN To Be Used As Common Business Identifier: Centre On Ease Of Business
The 10-digit Permanent Account N​umber, popularly known as PAN, will be used as a common business identifier, announced Finance Minister Nirmala Sitharaman in her Budget speech in a big move for ease of doing business.
On the need for separate submission of same information to different government agencies, a system of 'Unified Filing Process' will be set-up, the Minister added.
The 10-digit Permanent Account N​umber, popularly known as PAN, will be used as a common business identifier, announced Finance Minister Nirmala Sitharaman in her Budget speech in a big move for ease of doing business.
PAN is allotted by the income tax department to a person, firm or entity.
On the need for separate submission of same information to different government agencies, a system of 'Unified Filing Process' will be set-up, the Minister added.
Budget 2023: Expert On Heathcare Budget
"This year's budget has set the pathway for India to achieve universal health coverage. We welcome various initiatives announced by the honorable Finance Minister to address the long-standing gaps of the Indian healthcare ecosystem," said Dr Ashutosh Raghuvanshi, MD and CEO, Fortis Healthcare.
"We also welcome the Mission to eliminate sickle cell anemia by 2047 which will immensely benefit a large population," he added.
"This year's budget has set the pathway for India to achieve universal health coverage. We welcome various initiatives announced by the honorable Finance Minister to address the long-standing gaps of the Indian healthcare ecosystem," said Dr Ashutosh Raghuvanshi, MD and CEO, Fortis Healthcare.
"We also welcome the Mission to eliminate sickle cell anemia by 2047 which will immensely benefit a large population," he added.
Union Budget 2023: New vs Old Tax Regime: See What Has ChangedBudget 2023: Finance Minister Nirmala Sitharaman has increased the rebate limit for individual taxpayers from Rs 5 lakh to Rs 7 lakh a year.