{"id":282787,"date":"2023-02-01T07:20:00","date_gmt":"2023-02-01T07:20:00","guid":{"rendered":"https:\/\/haftavasool.com\/haftavasool\/blog\/2023\/02\/01\/union-budget-2023-the-big-numbers\/"},"modified":"2023-02-01T07:20:00","modified_gmt":"2023-02-01T07:20:00","slug":"union-budget-2023-the-big-numbers","status":"publish","type":"post","link":"https:\/\/haftavasool.com\/haftavasool\/blog\/2023\/02\/01\/union-budget-2023-the-big-numbers\/","title":{"rendered":"Union Budget 2023: The Big Numbers"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div itemprop=\"articleBody\" id=\"ins_storybody\"><!-- \n\n<div itemprop=\"articleBody\" class=\"sp-cn ins_storybody\" id=\"ins_storybody\">--><\/p>\n<div class=\"ins_instory_dv\">\n<div class=\"ins_instory_dv_cont\"><img decoding=\"async\" title=\"Union Budget 2023: The Big Numbers\" alt=\"Union Budget 2023: The Big Numbers\" id=\"story_image_main\" src=\"https:\/\/c.ndtvimg.com\/2023-02\/atcbsrdg_-nirmala-sitharaman-presents-budget-2023-ndtv-650_650x400_01_February_23.jpg\"\/><\/div>\n<p class=\"ins_instory_dv_caption sp_b\">Union Budget: Nirmala Sitharaman announces Rs 2.4 lakh crore for railways.<\/p>\n<\/div>\n<p><b class=\"place_cont\">New Delhi: <\/b><\/p>\n<ul>\n<li>No tax on income up to\u00a0Rs 7 lakh a year in new tax regime, which will be the default from now onwards. Old tax regime scrapped<\/li>\n<li>Income tax slabs reduced to five. The new tax rates are 0 to Rs 3 lakhs &#8211; nil, Rs 3 to 6 lakhs &#8211; 5%, Rs 6 to 9 lakhs &#8211; 10%, Rs 9 to 12 lakhs &#8211; 15%, Rs 12 to 15 lakhs &#8211; 20% and above Rs 15 lakhs &#8211; 30%<\/li>\n<li>An individual with income of Rs 15 lakh will have to pay Rs 1.5 lakh tax, down from Rs 1.87 lakh under new tax structure<\/li>\n<li>Rs 2.4 lakh crore for railways, <a href=\"https:\/\/www.ndtv.com\/business\/union-budget-2023-to-set-foundation-for-growth-amid-global-gloom-10-facts-3741184\" target=\"_self\" rel=\"noopener noreferrer\">the highest ever<\/a><\/li>\n<li>Defence budget hiked to Rs 6.2 lakh crore &#8212; over 16 percent hike from last year. This includes pensions that have gone up significantly.<\/li>\n<li>Agricultural credit target increased to Rs 20 lakh crore<\/li>\n<li>Allocation for PM Awas Yojna increased by 66% to over Rs 79,000 crore<\/li>\n<li>Capital investment outlay to be raised by 33% to Rs 10 lakh crore, to be 3.3% of GDP in fiscal 2024<\/li>\n<li>Effective capital expenditure of centre to be Rs 13.7 lakh crore<\/li>\n<li>Fiscal deficit target for fiscal 2024 is 5.9%, aim to reduce it to 4.5% by 2025-26.\u00a0Fiscal deficit for fiscal 23 in line with 6.4% target.\u00a0To finance fiscal deficit in 2023-24, net market borrowing from dated securities estimated at Rs 11.8 lakh crore<\/li>\n<li>Tax receipts for next fiscal budgeted at Rs 23.3 lakh crore<\/li>\n<li>157 new nursing colleges in core locations, mission to eliminate sickle cell anaemia by 2047<\/li>\n<li>Rs 15,000 crore over next three years for safe housing, sanitation, drinking water, and electricity for scheduled tribes<\/li>\n<li>All cities and towns will be enabled for 100 percent transition of sewers and septic tanks from manhole to machine hole mode<\/li>\n<li>38,800 teachers will be hired for Ekalavya Model Residential Schools in next 3 years<\/li>\n<li>3 centres for excellence for AI will be set up in top educational institutes with the goal &#8220;Make AI in India&#8221;, &#8220;Make AI Work For India&#8221;<\/li>\n<li>Computerisation of 63,000 credit societies with Rs 2,516 crore<\/li>\n<li>100 labs to develop apps using 5g services to be set up in engineering institutions<\/li>\n<li>Green Hydrogen Mission for reduced dependence on fossil fuel: Rs 35,000 crore for energy transition to net-zero emission goals<\/li>\n<li>Battery energy storage systems of 4000 MWh will be supported<\/li>\n<li>For ease of doing business, 39,000 compliances reduced<\/li>\n<li>30 Skill India international centres across different states will be set up<\/li>\n<li>1 crore farmers will get assistance to adopt natural farming<\/li>\n<li>100 critical transport projects &#8212; 50 additional airports, helipads, water aero drones, and advanced landing grounds will be revived to improve regional air connectivity<\/li>\n<li>For tourism, 50 destinations will be selected through challenge mode<\/li>\n<li>Mahila Samman Savings Certificate will be made available for two years, deposits of up to 2 lakh at 7.5% interest<\/li>\n<li>Senior citizens savings scheme cap increased from Rs 15 lakh to Rs 30 lakh<\/li>\n<li>Monthly Income Scheme limit doubled to Rs 9 lakh and Rs 15 lakh for joint accounts<\/li>\n<li>The revamped Credit Guarantee Scheme for MSME sector will take effect from April 1, 2023 with an infusion of Rs 9,000 crore<\/li>\n<li>Basic customs duty rates to be reduced from 21% to 13%<\/li>\n<li>Taxes on cigarettes hiked by 16 percent<\/li>\n<li>Basic import duty on compounded rubber increased to 25 percent from 10 percent\u00a0<\/li>\n<li>Customs duty on kitchen electric chimney increased to 15 percent from 7.5 percent<\/li>\n<li>Tax portal processed 6.5 crore returns, processing time cut; intend to strengthen grievance redressal mechanism<\/li>\n<li>Government proposes to increase limit for presumptive taxation for MSMEs and certain professionals to Rs 3 crore and Rs 75 lakh, respectively<\/li>\n<li>Rs 5,300 crore assistance for Upper Bhadra project in poll-bound Karnataka.<\/li>\n<li>New cooperatives that commence manufacturing activity till March 2024 to attract lower tax rate of 15 percent<\/li>\n<li>Government to provide higher limit of Rs 2 lakh per member for cash deposit and loans by Primary Agricultural Credit Societies<\/li>\n<li>Highest surcharge rate reduced from 37 percent to 25 percent in new tax regime<\/li>\n<li>Net tax revenue foregone because of changes in direct and indirect taxes is Rs 35,000 crore<\/li>\n<li>Government proposes to cap deductions from capital gains on investments in residential houses to Rs 10 crore<\/li>\n<\/ul>\n<p><span itemprop=\"video\" itemscope=\"\" itemtype=\"https:\/\/schema.org\/VideoObject\"><meta itemprop=\"headline\" content=\"Sealed With A Kiss: To Shah Rukh Khan From Deepika And To John From, Ahem, SRK\"\/><meta itemprop=\"name\" content=\"Sealed With A Kiss: To Shah Rukh Khan From Deepika And To John From, Ahem, SRK\"\/><meta itemprop=\"description\" content=\"Sealed With A Kiss: To Shah Rukh Khan From Deepika And To John From, Ahem, SRK\"\/><meta itemprop=\"thumbnailUrl\" content=\"https:\/\/c.ndtvimg.com\/2023-02\/atcbsrdg_-nirmala-sitharaman-presents-budget-2023-ndtv-650_650x400_01_February_23.jpg\"\/><meta itemprop=\"uploadDate\" content=\"2023-02-01T13:02:12+05:30\"\/><meta itemprop=\"embedUrl\" content=\"https:\/\/www.ndtv.com\/video\/embed-player\/?id=679642&amp;category=embed&amp;pWidth=650&amp;pHeight=403&amp;embed_type=story&amp;mute=1&amp;autostart=1&amp;mutestart=true&amp;ctitle=0&amp;cache=2022\"\/><meta itemprop=\"ContentUrl\" content=\"https:\/\/ndtvod.pc.cdn.bitgravity.com\/23372\/ndtv\/PathaanKisses_123146_118672_2500.mp4\"\/><\/span><\/p>\n<div class=\"ins_instory_dv_cont externalVideo fvotd\">\n<h3 class=\"s-ttl\">Featured Video Of The Day<\/h3>\n<p><iframe id=\"videoembed\" class=\"lozad\" src=\"https:\/\/c.ndtvimg.com\/2023-01\/i2rabpoo_kisses_640x480_31_January_23.jpg\" data-src=\"https:\/\/www.ndtv.com\/video\/embed-player\/?id=679642&amp;category=embed&amp;pWidth=650&amp;pHeight=403&amp;embed_type=story&amp;mute=1&amp;autostart=1&amp;mutestart=true&amp;ctitle=0&amp;cache=2022\" scrolling=\"no\" frameborder=\"0\" allowtransparency=\"true\" style=\"border:none; overflow:hidden; width:100%; height:403px; padding-bottom: 0px;padding-left:0px;\"><\/iframe><\/p>\n<p>Sealed With A Kiss: To Shah Rukh Khan From Deepika And To John From, Ahem, SRK<\/p>\n<\/div>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.ndtv.com\/business\/union-budget-2023-the-big-numbers-announced-so-far-3742096\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Union Budget: Nirmala Sitharaman announces Rs 2.4 lakh crore for railways. New Delhi: No tax on income up to\u00a0Rs 7 lakh a year in new tax regime, which will be the default from now onwards. Old tax regime scrapped Income tax slabs reduced to five. The new tax rates are 0 to Rs 3 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":282788,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[329774,280470,331134],"_links":{"self":[{"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/posts\/282787"}],"collection":[{"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/comments?post=282787"}],"version-history":[{"count":0,"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/posts\/282787\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/media\/282788"}],"wp:attachment":[{"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/media?parent=282787"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/categories?post=282787"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/tags?post=282787"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}