Thread by @barandbench

Union Finance Minister Nirmala Sitharaman presenting Union Budget 2023-24 #Budget2023 #BudgetSession #Budget

Indian economy has increased from being 10th to 5th in the world. EPFO membership doubled to 27 crore and digital payments of 126 lakh crore rupees made through UPI: Sitharaman @nsitharamanoffc #Budget2023 #BudgetSession #Budget

Priority no 1 is inclusive development - covering farmers, women, youth, OBCs, divyang etc. Sustained focus of Jammu & Kashmir, Ladakh and the North East: Sitharaman @nsitharamanoffc #Budget2023 #BudgetSession #Budget

Financial support for agritech startups, cooperative-based economic model, enabling of massive decentralised storage capacity for farmers: Sitharaman @nsitharamanoffc #Budget2023 #BudgetSession #Budget

Education - teachers' training to be re-envisioned through creative pedagogy. To build a culture of reading and make up for time lost during COVID-19, National Book Trust, Childrens Book Trust will be encouraged to provide non-curricular titles to physical libraries: Sitharaman

15,000 crore for Primitive Vulnerable Tribal Groups Development Mission to improve socio-economic conditions of vulnerable tribal groups - safe housing, clean drinking water, access to education etc: Sitharaman #Budget2023 #BudgetSession #Budget

Support for poor prisoners - for those unable to afford bail amount, required financial support will be provided: Sitharaman #Budget2023 #BudgetSession #Budget

2.4 lakh crore outlay for Railways - 9 times the outlay made in 2013-14; 50 additional airports, helidromes etc will be made for domestic travel: Sitharaman #Budget2023 #BudgetSession #BudgetSession2023 #Budget

Manual scavenging - 100 percent de-sludging of sewers to transition from manholes to machine hole mode. Focus on scientific management of dry and wet waste: Sitharaman #Budget2023 #BudgetSession #BudgetSession2023 #Budget

More than 39,000 compliances have been reduced and 3,400 legal provisions have been decriminalised to further trust-based governance. Jan Vishaws Bill to amend 42 Central Acts: Sitharaman #Budget2023 #BudgetSession #BudgetSession2023 #Budget

Three Centres for Artificial Intelligence to be setup at top institutions. National Data Governance Policy to be launched to enable access to anonymised data: Sitharaman #Budget2023 #BudgetSession #BudgetSession2023 #Budget

Settling contractual disputes of govt agencies wherein arbitral award in under challenge - a voluntary settlement scheme will be introduced. Graded settlement terms, depending on pendency level of dispute: Sitharaman #Budget2023 #BudgetSession #BudgetSession2023 #Budget

Phase III of ecourts project will be launched with outlay of 7,000 crore: Sitharaman #Budget2023 #BudgetSession #BudgetSession2023 #Budget

Movement towards environmentally conscious lifestyle; aim for net zero carbon emission by 2070. Focus is on green growth: Sitharaman #Budget2023 #BudgetSession #BudgetSession2023 #Budget

Amendments to Banking Regulation Act, RBI Act are being considered: Sitharaman #Budget2023 #BudgetSession #BudgetSession2023 #Budget

To reduce pendency of tax appeals at commissioner level, 100 joint commissioner to be deployed for disposal of small appeals. We shall also be selective in taking up cases for scrutiny of returns already received: Sitharaman #Budget2023 #BudgetSession #BudgetSession2023 #Budget

Five major announcements on Income Tax: Sitharaman

Rebate for tax exemption increased to ₹7 lakhs

#Budget2023 #BudgetSession #BudgetSession2023 #Budget #incometax

New tax rates:

0-3 lakhs - NIL
3-6 lakhs - 5 per cent
6-9 lakhs - 1o per cent
9-12 lakh - 15 per cent
12-15 lakh - 20 per cent
Above 15 lakh - 30 per cent

#Budget2023 #BudgetSession #BudgetSession2023 #Budget #incometax

New tax regime to be default tax regime; citizens will have option to choose old tax regime as well: Sitharaman

#Budget2023 #BudgetSession #BudgetSession2023 #Budget #incometax