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    2023 Summary of Union Budget 2023-24. ENGLISH. 2022 Summary of Union Budget 2022-23. HINDI. 2022 Summary of Union Budget 2022-23. ENGLISH. 2021 Summary of Union ...

    • Part – A
    • Part – B

    What is the Budget’s Vision for Amrit Kaal?

    1. Amrit Kaal: 1.1. The Finance Minister of India called it the first Budget in Amrit Kaal. The vision for the Amrit Kaal is anempowered and inclusive economy that is technology-driven and knowledge-based with a robust financial sector. 1. The Budget identifies 4 transformative opportunities to be leveraged before reaching India@100: 1.1. Economic Empowerment of Women through SHGs 1.2. PM VIshwakarma KAushal Samman (PM VIKAS) 1.3. Tourism Promotion in Mission Mode 1.4. Green Growth

    What are the Priorities of Budget 2023-24?

    1. Saptarishi:

    Priority 1: Inclusive Development

    1. Agriculture: 1.1. Digital Public Infrastructure: Digital Public Infrastructure for agriculture will be built as an open source, open standard and interoperable public good resulting in: 1.1.1. Inclusive farmer-centric solutions 1.1.2. Relevant information services for crop planning/health 1.1.3. Better access tofarm inputs, credit, and insurance 1.1.4. Growth-support of the agri-tech industry and start-ups 1.2. Funding for Agri-startups: Agriculture Accelerator Fund will be set-up to encou...

    What are the Reforms Proposed in Direct Taxation?

    1. Personal Income Tax: 1.1. There are five major announcements relating to the personal income tax. The rebate limit in the new tax regime has been increased to ₹ 7 lakh. 1.1.1. It means that persons in the new tax regime with income up to ₹ 7 lakh will not have to pay any tax. 1.2. The tax structure in the new personal tax regime has been changed by reducing the number of slabs to five and increasing the tax exemption limit to ₹ 3 lakh. 2. Other Tax Reforms: 2.1. Standard Deduction: 2.1.1....

    What are the Reforms Proposed in Indirect Taxation?

    1. Custom Duties: 1.1. The number of basic customs duty rates for goodsother than textiles and agriculture has been decreased to 13 from 21. 1.2. National Calamity Contingent Duty (NCCD) on specifiedcigarettes revised upwards by about 16% 1.3. Increased Duties: 1.3.1. Articles made from gold and platinum 1.3.2. Import duties on silver dore, bars, and articles 1.4. Exception from Duties: 1.4.1. Compressed biogascontained in blended compressed natural gas. 1.4.2. Testing agencies that importveh...

  2. Learn about the key priorities, policy announcements and economic indicators of the Union Budget 2023-24 for UPSC exam preparation. The budget aims to build a technology-driven and knowledge-based economy with strong public finances and a robust financial sector.

  3. Budget 2023-24 is the first budget in Amrit Kaal. which is roadmap of next. 25 years – from India @75 to India @100. Three-pronged focus driven by four transfor-mative opportunities con-stitutes the foundation of Amrit Kaal. Vision For Amrit Kaal . (An Empowered and Inclusive Economy) Opportuinites for citizens with focus on youth.

    • Inclusive Development. The Government’s philosophy of Sabka Saath Sabka Vikas has facilitated inclusive development covering in specific, farmers, women, youth, OBCs, Scheduled Castes, Scheduled Tribes, divyangjan and economically weaker sections, and overall priority for the underprivileged (vanchiton ko variyata).
    • Reaching the Last Mile. The Finance Minister said that Prime Minister Vajpayee’s government had formed the Ministry of Tribal Affairs and the Department of Development of North-Eastern Region to provide a sharper focus to the objective of ‘reaching the last mile’.
    • Infrastructure & Investment. Smt. Sitharaman said, investments in Infrastructure and productive capacity have a large multiplier impact on growth and employment and in view of this capital investment outlay is being increased steeply for the third year in a row by 33 per cent to Rs 10 lakh crore, which would be 3.3 per cent of GDP.
    • Unleashing the Potential. The Finance Minister said that for enhancing ease of doing business, more than 39,000 compliances have been reduced and more than 3,400 legal provisions have been decriminalized.
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  6. Feb 3, 2023 · The Union Finance Minister has presented the Union Budget 2023-24 in the Parliament. This is the last full budget before the next year’s General Elections. There were apprehensions that the Budget may resort to populist measures ahead of the election year.